ISO 55001 asset management certification

ISO 55001 certification

ISO 55001 specifies requirements for establishing, implementing, maintaining and improving an organisation’s asset management system and can be applied to any organisation where physical assets are central to their business.

Benefits of ISO 55001

  • Managed risk - Ongoing review of processes, procedures and asset performance enables informed management decisions that balance cost, risk, opportunity and performance to improve organisational efficiency and effectiveness, so managing and reducing risk associated with ownership of assets.
  • Supports business growth and improvement - A robust asset management system (AMS) aids improvement with formalised, prioritised and coordinated implementation plans to which the entire organisation can understand and commit.
  • Benchmarking - As good practice in asset management is mostly independent of asset type, ISO 55001 enables objective comparison of performance across industrial sectors, between regulated/non-regulated and public/private environments.
  • Improved financial performance - A good AMS can facilitate improved return on investment and cost reduction without sacrificing short or long-term organisational performance, which in turn can lead to preservation of asset value so aiding the bottom line/profit.
  • Improved services and organisational sustainability - Effective management of short and long-term effects, expenditures and performance improves sustainability, allowing the organisation to consistently meet or exceed the performance and social responsibility expectations to satisfy the needs of stakeholders.
  • Enhanced reputation through compliance - Transparent conformity with legal, statutory and regulatory requirements and adherence to quality and asset management standards, policies and processes means improved customer satisfaction, stakeholder awareness and confidence.

What is ISO 55001 certification?

ISO 55001:2014 Asset management - Management systems - Requirements

Published by ISO in January 2014, ISO 55001 is ultimately intended to replace PAS 55, the existing specification for asset management, which is likely to be withdrawn by mid-2015.

PAS 55 has proven very popular, with widespread adoption in utilities, transport, mining and manufacturing industries worldwide, but is suitable for any industry that relies on its asset base to deliver its product or service.

Our existing PAS 55 clients tell us they gain significant business benefit from the robust methodology we use to deliver PAS 55 certification services. Therefore, we will continue to do the same when delivering ISO 55001 and, as members of the Institute of Asset Management, we will work to ensure that the transition process from PAS 55 to ISO 55001 is as seamless as possible.