Asset management system
The set of interrelated elements an organisation uses to establish its asset management policy, objectives and the processes to achieve them.
It is a management system, in the same family as a quality management system or an environmental management system. ISO 55001 specifies its requirements, and the 2024 second edition arranges them under context, leadership, planning, support, operation, performance evaluation and improvement.
What it contains is governance rather than machinery: a scope, a policy, documented decision-making criteria, a strategic asset management plan, objectives, competence and data requirements, operational controls, and an internal audit of itself.
Sources
ISO 55001:2024, Asset management, Asset management system, Requirements, second edition, July 2024, prepared by ISO/TC 251. ISO 55000:2024 for the vocabulary. Clause 4.4 covers the asset management system and Clause 4.3 the determination of its scope.
Read the sources
- ISO 55001:2024, asset management system requirementsAbstract and contents free; the requirement text is sold.
- ISO 55000:2024, vocabulary, overview and principlesAbstract and contents free; the full text is sold.
Belongs to
Operations & Asset Management
Argued in full
ISO 55001 tells you what to build. It will not tell you what to build first