Introduction

0.1 Purpose

This International Standard provides an overview of asset management and asset management systems (i.e. management systems for the management of assets). It also provides the context for ISO 55001 and ISO 55002.

International cooperation in the preparation of these standards has identified common practices that can be applied to the broadest range of assets, in the broadest range of organizations, across the broadest range of cultures.

0.2 Relationship with other standards

ISO 55001, ISO 55002 and this International Standard relate to a management system for asset management, which is referred to as an “asset management system” throughout the three standards.

ISO 55001, ISO 55002 and this International Standard can be used in combination with any relevant sector or asset type-specific asset management standards and technical specifications. ISO 55001 specifies requirements for an asset management system, while the other standards detail sector- specific, asset-specific or activity-specific technical requirements or give guidance on how ISO 55001 should be interpreted and applied within a specific sector or to particular asset types.

0.3 Target audience

This International Standard is primarily intended for use by:

— those considering how to improve the realization of value for their organization from their asset base
— those involved in the establishment, implementation, maintenance and improvement of an asset management system
— those involved in the planning, design, implementation and review of asset management activities; along with service providers.

0.4 Benefits of the standards

The adoption of ISO 55001, ISO 55002 and this International Standard enables an organization to achieve its objectives through the effective and efficient management of its assets. The application of an asset management system provides assurance that those objectives can be achieved consistently and sustainably over time.

Annex A provides additional information on areas related to asset management activities.

Annex B shows the relationship between key elements of an asset management system.

BS ISO 55000:2014

Asset management - Overview, principles and terminology

Published:

31 Jan 2014

Withdrawn:

5 Jul 2024