ISO 55000

How should you manage your assets to realize the best result

ISO 55000 is the latest ISO standard and the standard that specifically addresses how you should manage your assets to realize the best result for your organization.

The British Standard Institute BSI developed ISO 55000 over a period of five years, together with many multinational companies, the Institute of Asset Management and other organizations. ISO 55000 is the successor of PAS 55.

The Global Foundation for Maintenance and Asset Management, GFMAM, facilitated the activities that led to the launch of ISO 55000 in February 2014.

The key elements of ISO 55000

  1. Align the Strategic Asset plan with the Business Plan
  2. Manage the value of the assets over their lifetime
  3. Manage the risks of the assets over their lifetime
  4. Manage the costs of the assets over their lifetime
  5. Implement a structure of continuous improvement

Integrated approach and results over the asset lifetime

The biggest two challenges for an organization:

  1. To take this as an integrated approach. it doesn’t help if one department, one asset, one division is exceptionally good. It only works if the organization as a whole will focus together on achieving the business goals set by the company.
  2. To focus on realizing results over the asset lifetime.