Risk and Security

ISO 55001

Motivation and benefits

The standard ISO 55001:2014 (DIN ISO 55001:2018) (Asset Management Management System Requirements), provides assistance to organizations for the systematic recording of their overall tangible fixed assets (e. g. machines, plants, buildings, infrastructure, real estate, and external plants), as well as current assets (e. g. managing spare parts).

The benefits of an Asset Management System include, among others, performance improvement and cost optimization by improving the return on investment and preserving asset values. Furthermore, risk management advantages are generated by balancing the costs and risks against the desired performance of assets.

The standard also serves as a basis for taking management decisions, increases transparency, improves a trust-based relationship to stakeholders (e. g. banks, funds, …), and provides an interface with other management systems. As ISO 55001 is based on the High Level Structure, its systematic structure is similar to ISO 9001, ISO 14001 or ISO 45001. This facilitates the integration of management systems according to ISO 55001 into already existing systems, and enables a quick use of synergies.

The benefits for users of a systematic asset management system according to ISO 55001 are generated through an integrated approach, especially in highly interlinked and asset-intensive organizations such as in the industry sector (chemistry, petro chemistry, steel production, mining etc.), in the infrastructure sector (electric utility, water supply, transport, traffic, clinics etc.), in real estate industry (housing and real estate management), as well as in the service sector.

Objectives
  • Ensuring quality, transparency and comparability in asset management
  • Creating a generic quality model for professional practice and service delivery
  • Securing asset management competencies
Target group

Capital-intensive private and public enterprises

Requirements

Implementing the requirements of ISO 55001 in practice enables an organization to derive high benefits (value to an organization) from its tangible and intangible assets. Asset management ensures that the asset management objectives are achieved, and the company’s opportunities and risks are identified. A management system according to ISO 55001 contributes to the systematic development of an organization, including process optimization. Internal and external audits are providing support.

Other relevant standards

ISO 9001, ISO 14001, ISO 45001 (formerly OHSAS 18001), ISO 31000, ONR 49001 resp. ÖNORM 4901, ISO 41001

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