ISO 55001:2024 Asset management — Asset management system — Requirements (Second edition) is an international standard that provides a framework for establishing, implementing, maintaining, and improving an effective asset management system (AMS). It specifies requirements for an asset management system within the context of the organization and can be applied to all types of assets and by all types and sizes of organizations.
Table of Contents
| Introduction |
| 1 Scope |
| 2 Normative reference |
| 3 Terms and definitions |
| 4 Context of the organization |
| 4.1 Understanding the organization and its context |
| 4.2 Understanding the needs and expectations of stakeholders |
| 4.3 Determining the scope of the asset management system |
| 4.4 Asset management system |
| 4.5 Asset management decision-making |
| 5 Leadership |
| 5.1 Leadership and commitment |
| 5.2 Asset management policy |
| 5.3 Roles, responsibilities and authorities |
| 6 Planning |
| 6.1 Actions to address risks and opportunities |
| 6.2 Asset management objectives and planning to achieve them |
| 6.3 Planning of changes |
| 7 Support |
| 7.1 Resources |
| 7.2 Competence |
| 7.3 Awareness |
| 7.4 Communication |
| 7.5 Documented information |
| 7.6 Data and information |
| 7.7 Knowledge |
| 8 Operation |
| 8.1 Operational planning and control including life cycle management |
| 8.2 Control of change |
| 8.3 Externally provided processes, products, technologies and services |
| 9 Performance evaluation |
| 9.1 Monitoring, measurement, analysis and evaluation |
| 9.2 Internal audit |
| 9.3 Management review |
| 10 Improvement |
| 10.1 Continual improvement |
| 10.2 Nonconformity and corrective action |
| 10.3 Predictive action |
Implementation
Implementing an asset management system in conformity with ISO 55001 involves several key steps.
Leadership and Commitment
- Obtain leadership commitment and support for the implementation of the asset management system.
- Establish a clear policy and objectives for asset management.
Scope and Context
- Define the scope of the AMS, including the boundaries and applicability.
- Understand the external and internal context of the organization and how it can affect asset management.
Stakeholder Engagement
Identify and engage relevant stakeholders, considering their needs and expectations in relation to asset management.
Asset Management System Planning
Develop a detailed plan for implementing the AMS, considering resources, roles, responsibilities, and timelines.
Risks and Opportunities
- Assess risks and opportunities associated with asset management.
- Develop strategies to address and mitigate identified risks.
- Exploit or enhance identified opportunities to improve asset management.
Asset Management Policy and Objectives
- Establish an asset management policy that aligns with the organization’s objectives.
- Set measurable objectives that support the policy.
Organizational Structure, Roles and Responsibilities
- Define the organizational structure for asset management.
- Allocate roles and responsibilities to ensure effective implementation and maintenance of the system.
Competence and Training
- Identify the competencies required for personnel involved in asset management.
- Develop and implement training programs to ensure personnel have the necessary skills.
Communication
Establish effective communication processes within the organization, ensuring that relevant information is shared among stakeholders.
Documentation and Information Management
- Develop and maintain documentation that supports the AMS.
- Implement information management processes to ensure data integrity and accessibility.
- Manage data and information assets including digital data.
Life Cycle Management
Develop life cycle plans for assets, considering design, procurement, operation, maintenance, and disposal (end-of-life) phases.
Performance Evaluation
- Establish key performance indicators (KPIs) to measure the performance of the AMS.
- Monitor and evaluate performance against established KPIs.
Continual Improvement
- Implement processes for continual improvement of the AMS
- Conduct regular audits and reviews to identify opportunities for improvement.
Legal and Other Requirements
Identify and ensure compliance with relevant legal and other requirements related to asset management.
Implementation of Changes
- Develop a process for managing changes to the AMS.
- Ensure that changes are implemented in a controlled manner.
Management Review
Conduct regular management reviews to assess the performance of the AMS and identify opportunities for improvement.
External Audits and Certification
Prepare for and undergo external audits by certification bodies, if seeking ISO 55001 certification.
Documentation and Record Keeping
Establish processes for document control and record keeping to demonstrate compliance with ISO 55001 requirements.
In conclusion…
Remember, the implementation of an AMS is an ongoing process, and organizations should continually monitor, evaluate, and improve their systems to ensure they remain effective and aligned with the organization’s objectives.
ISO 55001 can be purchased through the ISO.org website. See also ISO 55000 which provides the vocabulary, overview and principles of asset management.
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