Publication ISO 55000 - Asset Management

On January 10 2014, ISO published the new ISO 55000 standard.

During the last few years, asset management has come on the agenda of many organisations. The great success of the British standard PAS 55 and the increasing international attention for asset management, has led to the development of the ISO 55000 series. 

The standard consist of three parts:

• ISO 55000 – Asset management – Overview, principles and terminology

In this part, an overview is presented what good asset management is based on, how it is positioned in its environment and what an organisation can gain from good asset management. Besides that, it provides an overview of terminology used.

• ISO 55001 – Asset management – Management systems – Requirements

This part lists all basic requirements of an asset management system in a structured way.

• ISO 55002 – Asset management – Management systems – Guidelines for the application of ISO 55001

This part provides explanation on assetmanagement and provides guidance for the application of an asset management system. Besides that it provides some examples to support the implementation of an asset management system.

Although the words are different, the content of ISO 55000 largely corresponds with the British standard PAS 55. There are some differences however. Some important differences are:

• In ISO 55000 there is more focus on stakeholders. The stakeholder's expectations and requirements are, besides the organisational objectives, starting point for the asset management system;
• ISO 55000 provides a more explicit relationship with financial management;
• Awareness and commitment on all levels are mentioned explicitly in ISO 55000.

More information on the ISO 50000 standard is available here.