ISO 55001 specifies requirements for establishing, implementing, maintaining and improving an asset management system that manages the lifecycle of assets in the organization, no matter the type of the asset held. It is intended to be used by those involved in the establishment, implementation, maintenance and improvement of an Asset Management System and can be applied to all types of assets by all types and sizes of organizations.

Through good asset management business objectives can be achieved to their maximum potential, along with a significant increase of customer and stakeholder satisfaction and confidence. Certainly, it is becoming more important than ever to have a mutual asset management language for enhanced communication throughout the organization. Thus, harmonized implementation strategies will result in greater improvements and increased productivity and returns.

Benefits of ISO 55001 Asset Management:

• Development of viable and predictable cash flows.
• Ability to manage asset’s lifecycle.
• Ability to ensure that assets fulfill their necessary function.
• Support improvement and business growth.
• Support an organization during the process of establishing, implementing, maintaining and improving an Asset Management System.
• Increase profitability.
• Manage risk related to asset ownership.
• Enhance brand reputation.