Many organizations struggle with their asset management strategy, the new ISO 55000 standard will help; developing an organization-level policy and provides guidance on successfully implementing the changes to your organization
One longtime, ongoing discussion resolved in a simple manner.
ISO 55000 - Where are your key assets?
What is ISO 55000?
Where are your key Assets?
Asset Management is Risk Management
• When will the next disaster occur? When will the next
industrial accident occur? Where are your global assets?
What about climate change?
• Risk management and awareness – should be a key
concern among business executives and government
officials; and responsible employees and their employers.
• There is a need for an element of stability and standards
including awareness of key assets – tangible and
• ISO 55000:2014 provides an overview of asset
management, its principles and terminology, and the
expected benefits from adopting asset management.
• ISO 55000:2014 can be applied to all types of assets and
by all types and sizes of organizations.
ISO 5500x family of standards
• The ISO 5500x family of standards will align and integrate
with other major management systems specifications, so
that an integrated approach can be established for good
practices on all key aspects of professional operations.
• These include ISO 9001 for quality management, ISO
14001 for environmental management, OHSAS 18000 for
occupational health and safety, and ISO 31000 for risk
Benefits of optimized asset management
• Alignment of processes, resources and functional contributions (instead
of departmental silos and competing, short-term priorities)
• 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.
• Improved planning (especially capital expenditure)
• Consistent, prioritized and auditable risk management.
• Alignment and coordination of existing initiatives, including competency
• Greater engagement of the workforce, including leadership,
communications and cross-disciplinary teamwork.
ISO 55000: Definitions
• Asset – something with potential value to an organization
and for which the organization has a responsibility
• Asset System - group of assets that interact and/or are
interrelated so as to deliver a required business function or
• Asset = Asset System
ISO 55000 – Three Standards
ISO 55000 provides an overview of the subject of asset
management and the standard terms and definitions to
ISO 55001 is the requirements specification for an
integrated, effective management system for assets.
IS0 55002 provides guidance for the implementation of
such a system.
The first edition of the ISO 55000 standard was released
January 15, 2014. It consists of these three components.
ISO 55000 - Overview, principles and terminology
2. ISO 55001 - Requirements
3. ISO 55002 - Guidelines on the application of ISO 55001
Organizations – Set Standards
• ISO – International Organization for
Standardization, European based developer of
• ANSI – American National Standards Institute
• ASTM – ASTM International is a US based
developer of international standards
A few Videos on ISO 50000 (and PAS-55)
• https://www.youtube.com/watch?v=97gOiLPGE24 - An
Introduction to Asset Management & ISO 55000
• https://www.youtube.com/watch?v=H19bf09PYZg - Asset
Management Explained (Session 1 - Asset Management :
Preparing for ISO 55001)
• https://www.youtube.com/watch?v=c7N9XXMRdD4 - ISO
55000 Training & Workshops
• https://www.youtube.com/watch?v=-L72qeaccmM - PAS55: An Introduction to the Asset Management Standard
Thank you for your time.
F.A. Lopez - holds a Master’s Degree in
Business, Bachelor’s Degree in Science,
Green Six Sigma, Certificate in Urban &
Regional Planning, and Certificates in
Advanced Power Quality and Energy
Email – firstname.lastname@example.org