ASSET MANAGEMENT STANDARDS
Providing information on ISO 55000, PAS 55, maturity assessments, classroom courses, online-learning, implementation and strategic asset management planning
What is Asset Management?
Assets are the basis for any organisation delivering what it aims to do. Whether in the public or private sector and whether assets are physical, financial, human or ‘intangible’, it is good asset management that maximises value-for-money. It involves coordinated and optimized planning, asset selection, acquisition/development, utilization, care and ultimate disposal or renewal of assets and asset systems. Insights into the integration and optimization of asset management have developed since the 1990’s to identify a range of essential business processes that yield significant benefits.
What is ISO 55000?
The ISO 55000 family is the first set of International Standards for Asset Management and includes:
- ISO 55000 providing an overview of the subject of asset management and the standard terms and definitions.
- ISO 55001 specifies the requirements for an integrated, effective management system for asset management.
- ISO 55002 provides guidance for the implementation of such a management system.
Has ISO 55000 replaced PAS 55?
While PAS 55 was ‘withdrawn’ as a BSI formal Specification in 2015, organisations may find that there is ongoing value of PAS 55 as useful guidance and education material. Find out more about PAS 55 here.
If your organisation has been using PAS 55, then migrating to ISO 55000 is fairly straightforward. Although the structure is very different, most of the elements above are incorporated into the requirements of ISO 55001. Read more about ISO 50000 here
Guidance on the alignment of financial and non-financial functions in asset management now available
The ISO/TC 251 committee held its 7th meeting in May 2019 in Nanjing, P.R. China.
Providing much clearer guidance to successfully implement ISO 55001
Training & Guidance
Education, training, facilitation and other guidance is available at every level, from the ‘first steps’ introduction to the subject to leading-edge methods, Masters-level education and organisational fine-tuning. As an IAM Endorsed Training Provider, the Woodhouse Partnership offers the most experienced education and competency development programmes, training services and courses. Click on one of the courses below, visit the Asset Management Academy website or here for more information.
This website introduces the standards, the basic concepts of asset management and some of the options for assessment, training and using the standards to improve business performance. The site is owned and maintained by The Woodhouse Partnership Ltd, (TWPL) one of the leading international authorities and sources of training, assessment, facilitation and support in the management of business assets. TWPL is a BSI Affiliate and an Endorsed Assessor and Trainer for the IAM.