ISO 55001

OVERVIEW

ISO 55001(or ISO 55001:2014) enables organizations to implement Asset Management System necessary to manage their assets and optimize their lifetime value effectively and efficiently. With the advent of Publicly Available Specification (PAS 55), ISO 55001 standard is being widely adopted in various industries (utilities, transport, mining, process and manufacturing) over the globe and is seen as the blueprint for any organization focused on management and in maximizing their value.

The ISO 55000 family comprises of three standards:

ISO 55000

Provides an overview of the subject of asset management and the standard terms and definitions.

ISO 55001

It is the requirements specification for an integrated, effective management system for asset management.

ISO 55002

It provides guidance for the implementation of such a management system.

It is an international standard that can be applied to all types of assets and by all types and sizes of organizations and is primarily intended for use by:

• Those who are involved in the establishment, implementation, maintenance and improvement of an asset management system.
• Those who are involved in delivering asset management activities and service providers.
• The internal and external parties to assess the organization’s ability to meet legal, regulatory and contractual requirements and the organization’s own requirements.