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.
Find out more about ISO 55000 here
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While PAS 55 was ‘withdrawn’ as a BSI formal Specification in 2015, organisations may find that there is ongoing value of PAS 55 as useful guidance and education material.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
Latest News
ISO TMB Task Force 14 (Mgmt Systems structure + Risk terminology) Report Jan 2020
The latest report from the Task Force (TF14) focusing on management systems and language on the subject of risk management
ISO55000 TC251 8th meeting Communique Nov 2019
Development work continues on ISO 55011 Asset management – Guidelines for public policy makers.
New! ISO/TS 55010 launched
Guidance on the alignment of financial and non-financial functions in asset management now available
Training & Guidance
Companies can attain ISO 55000 accreditation or implement the standards within the organisation, while working alongside The Woodhouse Partnership, IAM Endorsed Assessors and experts, each with over 20 years experience and providing personal advice, guidance and aspiring to be your company’s ‘trusted adviser’ in facilitating AM excellence.
Fully trained and qualified staff are invaluable to an organisation seeking ISO 55000 accreditation and as IAM Endorsed Training Providers the Woodhouse Academy offers development programmes, training services and courses. Click here for more information.
About us
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, one of the leading international authorities and sources of training, assessment, facilitation and support in the management of business assets. The Woodhouse Partnership is a BSI Affiliate and an Endorsed Assessor and Trainer for the IAM.
Training Courses
Shop
Here are the links to purchase the most useful standards, specifications and guidance for Asset Management. Simply click on the images below to go direct to the relevant online shop.
BS ISO 55000
BS ISO 50001
BS ISO 55002
BS ISO 55000 series
PASS 55 (part 1)
PAS 55 (part 2)
IAM ‘Developing and maintaining a Strategic Asset Management Plan’ (SAMP)
Asset management decision-making: The SALVO Process
Institute of Asset Management (IAM) Subject Specific Guides
