What is ISO 55001?

ISO 55001 is an asset management system standard, the main objective of which is to help organizations manage the lifecycle of assets more effectively. By implementing ISO 55001 organizations will have better control over daily activities, achieve higher return with their assets, and reduce the total cost of risk.

This standard can be applied to all organizational structures of companies, and to all types of assets. The concrete outcomes consist of a growth in effectiveness accompanied by a dramatic drop in unit cost. This framework also supports continual improvement of performance and offers improvements for an organization of any industry, type or size.

Why Asset Management is important for you?

ISO 55001 will guide you toward significant asset management improvements by enabling you to meet the stakeholder, business and legal requirements. It is the company’s most potent defense for saving money and time. By managing the assets properly you will be able to use your available assets wisely and get more out of their utilization while delivering added value to the business.

It is designed to support you in the proper handling of processes and risks, which will lead to the improvement of current and future company performance. Moreover, the implementation of an Asset Management System that complies with ISO 55001 enables the organization to align its objectives with asset management system objectives which leads the organization towards achieving its intended outcomes.  Moreover, ISO 55001 aligns the organization’s objectives with asset management objectives since the purpose of asset management is achieving organizational objectives.  

What Is ISO 55001 Certification? 

Being ISO 55001 certified means that you are capable of helping your organization in developing an active approach to lifecycle asset management. With ISO 55001 certification you demonstrate your skills in being able to support your organizational growth by:

  • managing assets effectively; 
  • mitigating and managing risk, and 
  • improving the financial performance of your organization. 
In today’s world of complex and ever-changing financial marketplaces, ISO 55001 certification is crucial in proving the ability to run a more streamlined operation and a good corporate reputation. Moreover, this certification helps you as an individual to differentiate yourself from other professionals involved in the Assets Management.

Benefits of ISO 55001 Asset Management

PECB ISO 50001 Certified individuals will have the opportunity to gain many benefits, but not limited to:

  • Development of viable and predictable cash flows
  • Ability to manage asset’s lifecycle
  • Ability to ensure that assets fulfill their necessary function
  • Support improvement and business growth
  • Support an organization during the process of establishing, implementing, maintaining and improving  an Asset Management System
  • Increase profitability
  • Manage risk related to asset ownership
  • Enhance  brand reputation