BS ISO 55002:2018

BS ISO 55002:2018

Asset management. Management systems. Guidelines for the application of ISO 55001

Status : Current   Published : November 2018



What is this standard about?


This is the third in an international series of standards that grew out of the hugely successful PAS 55 – a specification on optimizing the management of physical infrastructure assets. BS ISO 55002 provides guidance on applying an asset management system in accordance with the requirements of BS ISO 55001. It can be applied to all types of assets and by all types and sizes of organization.


The other two parts of the series are:

  • BS ISO 55000:2014 Asset management. Overview, principles and terminology
  • BS ISO 55001:2014 Asset management. Management systems. Requirements

Who is this standard for?

  • Any organization looking to effectively manage its assets
  • Large and small businesses
  • Private and public sector
  • Senior management
  • Asset managers
  • Regulatory industries

Why should you use this standard?

This series of standards gives guidance and requirements for developing and maintaining a long-term asset management system. This incorporates an organization’s mission, values, objectives, business policies and stakeholder requirements. It also aims to:

  • Facilitate the implementation of key principles with clear direction and leadership
  • Achieve staff awareness, commitment and cross-functional coordination
  • Obtain adequate information and knowledge of asset condition, performance, risks and costs and the interrelationships between these

BS ISO 55002 provides the specific guidelines for the application of this system, in accordance with the principles set out in BS ISO 55000.

NOTE 1: This document is intended to be used for managing physical assets in particular, but it can also be applied to other asset types.

NOTE 2: This document does not provide financial, accounting or technical guidance for managing specific asset types, however, in Annex F information is provided on the relationship between the financial and nonfinancial asset management functions.

NOTE 3: For the purposes of BS ISO 55000, BS ISO 55001 and this document, the term “asset management system” is used to refer to a management system for asset management.


What’s changed since the last update?

This new edition was developed to give improved guidance on the use of BS ISO 55001 by:


  • Showing more closely the alignment of the requirements in ISO 55001 with the asset management “fundamentals” stated in ISO 55000
  • Clarifying the concept of “value” in asset management
  • Amplifying the advice on:

-          Defining the scope of an asset management system, especially with reference to service providers

-          The use of a strategic asset management plan (SAMP)

-          Asset management decision-making

-          Risk management within asset management

  • Explaining the need for, and benefits of, alignment between the financial and non-financial functions for asset management within an organization
  • Advising on the scalability of asset management systems, especially for their use by small and medium sized enterprises (SMEs)

Standard NumberBS ISO 55002:2018
TitleAsset management. Management systems. Guidelines for the application of ISO 55001
Publication Date20 November 2018
Normative References(Required to achieve compliance to this standard)ISO 55000:2014
Informative References(Provided for Information)ASTM E2132, ISO 15489-1, ISO/TS 8000-1, IEC 62508, ISO 21500, ISO 15663-1, ISO 16175-3, IEC 60300-1, ISO 22301, ISO 37500, ISO 45001, ISO Guide 73, IEC 31010, ISO 20815, ASTM E2608, ISO/IEC/IEEE 15288, ISO 31000, ISO 19600, ISO 14001, ISO 9004, ISO 14224, ASTM E2279, EN 1325:2014, ISO 55001:2014, BSI PAS 55, ISO 9001, ISO/IEC/TS 17021-5, ISO/TS 9002, ISO 15686-2, ISO 30301, ISO/IEC 27001, NEN NTA 8120, ISO/IEC 19770-1, IEC 62740, ISO 26000, ISO 9000, ISO 19011, ISO 22320, ISO 17359
International RelationshipsISO 55002:2018
Draft Superseded By17/30354844 DC
DescriptorsManagement operations, Management, Instructions for use, Assets
Title in FrenchGestion d'actifs. Systèmes de management. Lignes directrices relatives à l'application de l'ISO 55001
ISBN978 0 580 97128 0
File Size4.146 MB

 Your basket
Your basket is empty

Multi-user access to over 3,500 medical device standards, regulations, expert commentaries and other documents

Develop a PAS

Develop a fast-track standardization document in 9-12 months

Worldwide Standards
We can source any standard from anywhere in the world


Access, view and download standards with multiple user access, across multiple sites with BSOL

Customers who bought this product also bought