ISO55000

ISO 55000 is the umbrella designation for the international standards on asset management, collectively known as the ISO 55000 family. The family provides a framework for managing physical assets—such as infrastructure, equipment, and facilities—through their lifecycle to realize value for an organization and its stakeholders. ISO 55000 itself offers an overview and vocabulary, while ISO 55001 specifies requirements for an asset management system, and ISO 55002 provides guidance on applying the requirements.

Key concepts in the ISO 55000 family include value, context, leadership, planning, support, operation, performance evaluation, and continual improvement. Value is defined in relation to the organization’s objectives and the expected service delivered by assets, balancing cost, risk, and performance over the asset’s lifecycle. The standard promotes a lifecycle approach to asset management, integrating governance and strategic planning with day-to-day management of assets and their risks.

The standards are applicable to any organization involved with asset-intensive operations, across public and private sectors. They are designed to be compatible with other management system standards and are often implemented in conjunction with ISO 9001 or ISO 14001, supporting integrated management systems.

Organizations may seek certification to ISO 55001, demonstrating the existence of an effective asset management system. Certification is provided by accredited bodies and can support improvements in reliability, cost management, risk reduction, and asset performance.