Asset Management

Maintaining | Upgrading | Operating

Assets, and value realized from them, are the basis for any organization delivering what it aims to do. Whether 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 stakeholders’ expectations. It involves coordinated and optimized planning, asset selection, acquisition/development, utilization, care (maintenance), and ultimate disposal or renewal of the appropriate assets and asset systems.

DQS CFS offers certification to the Asset Management Standard ISO 55001 in combination with the GC-Mark assessment „Verified Asset Management”. In this article, we would like to highlight some of the most interesting points regarding this norm and asset management.

What is ISO 55000?

The International Organization for Standardization published a set of three standards to help companies and organizations get value from their assets.

ISO 55000:2014 – Asset management – Overview, principles, and terminology
ISO 55001:2014 – Asset management – Management systems – Requirements
ISO 55002:2014 – Asset management – Management systems – Guidelines for the application of ISO 55001

As the titles suggest, ISO 55000 contains definitions of key terms, as well as describing the principles which underpin the other two documents. ISO 55001 contains the specification of the requirements which an Asset Management system must meet in order to be certified compliant. ISO 55002 is a guidance document, intended to shed light on how ISO 55001 should be interpreted.

The key point here is that certification will take place against the requirements of ISO 55001 – not ISO 55000. However, in order to interpret the (fairly broad) compliance statements contained within ISO 55001, it will be essential for auditors and those being audited to also understand the contents of ISO 55000, and, to a lesser extent, ISO 55002.

Who is this standard for?

The standards can be used to manage any assets, from railway sleepers to brand reputation to telecommunications networks and they are for many types of organizations and companies, public or private. Everything from a city or local service provider to a supermarket chain can benefit from good asset management.

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