Asset Management System

Asset Management System

01ISO 55001:2014 specifies the requirements for the establishment, implementation, maintenance and improvement of a management system for asset management(AM) within the context of the organization. ISO 55001 can be applied to all types of assets and by all types and sizes of organizations.It is also applicable to a broad range of functions and disciplines within individual companies, particularly those involved in risk management, finance and operations.

This Asset Management Standard is primarily intended for use by those:

  • Considering how to improve the realisation of value for their organisation from their asset base;
  • Involved in the establishment, implementation, maintenance and improvement of an AM system;
  • Involved in delivering AM activities including service providers;
  • Internal and external parties or stakeholders who assess the organisation’s ability to meet legal, regulatory and contractual; requirements and the organization’s own requirements.

Benefits of using Asset Management System are:

  • Improved financial performance;
  • Better informed asset investment decisions;
  • Better managed risk;
  • Improved services and outputs;
  • Demonstrated social responsibility;
  • Demonstrated compliance;
  • Enhanced reputation;
  • Improved organisational sustainability;
  • Improved efficiency and effectiveness.


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