What is ISO
55001:2014- Asset Management
ISO 55001 is an asset management system
standard, the main objective of which is to help organizations manage the
lifecycle of assets more effectively. By implementing ISO 55001 organizations
will have better control over daily activities, achieve higher return with
their assets, and reduce the total cost of risk.
The ISO 55001 introduces the involvement of
assets, and value realized from them, it is the basis for any organization
delivering what it aims to do. The
concrete outcomes consist of a growth in effectiveness accompanied by a
dramatic drop in unit cost. This framework also supports continual improvement
of performance and offers improvements for an organization of any industry,
type or size.
ISO 55001 certification you demonstrate your skills in being able to support
your organizational growth by:
- managing assets effectively;
- mitigating and managing risk, and
- improving the financial performance of your
In today's world of complex and ever-changing
financial marketplaces, ISO 55001 certification is crucial in proving the
ability to run a more streamlined operation and a good corporate reputation.
Moreover, this certification helps you as an individual to differentiate
yourself from other professionals involved in the Assets Management.
Why ISO 55001certification is important?
ISO 55001 will guide you toward significant
asset management improvements by enabling you to meet the stakeholder, business
and legal requirements. It is the company’s most potent defense for saving
money and time. By managing the assets properly you will be able to use your
available assets wisely and get more out of their utilization while delivering
added value to the business.
It is designed to support you in the proper
handling of processes and risks, which will lead to the improvement of current
and future company performance. Moreover, the implementation of an Asset
Management System that complies with ISO 55001 enables the organization to
align its objectives with asset management system objectives which leads the
organization towards achieving its intended outcomes. Moreover, ISO 55001
aligns the organization’s objectives with asset management objectives since the
purpose of asset management is achieving organizational objectives.
What are the benefits of ISO 55001certification?
- Enhance brand reputation
- Development of viable and predictable cash
- Ability to manage asset’s lifecycle
- Creating a transparent audit trail for what is
done, when and why.
- Better understanding and usage of data and
information to provide informed and consistent decisions.
- Alignment and coordination of existing
initiatives, including competency development.
- Greater engagement of the workforce, including
leadership, communications and cross-disciplinary teamwork.
- Increase profitability
- Manage risk related to asset ownership
Who can acquire ISO 55001certification?
can be applied to all organizational structures of companies, and to all types
of assets. Whether the organization is involved
on the public or private sector, and whether the assets are physical,
financial, human or ‘intangible’, it is good asset management that maximizes
value-for-money and satisfaction of stakeholder’s expectations.
How long does ISO 55001 certificate
The cycle of the certificate is valid for 3 years from the date of
certification, subject to the successful conduct of surveillance audits before
completion of the 1st & 2nd year respectively.