ISO 55001:2018, Asset management – Management systems – Requirements

What is ISO 55001? ISO 55001 for Asset Management Systems requires organisations to adopt a risk based approach to the management of assets. ISO 55001 is not a prescriptive document, rather it is intended to enable organisations to manage assets effectively through the adoption of a Strategic Asset Management Plan and Asset Management Plans for differing groups or classes of assets.

Asset Management System Requirements – Asset Management Systems (AMS) require organisations to:
• understand external & internal issues, and interested parties, relevant to asset management
• develop an Asset Management Policy– typically one page document declaring commitment to asset management
• develop an AMS or Management Manual – documenting as much or as little as you want but, typically, briefly addressing the clauses of ISO 55001; often integrated with the Manual for other management systems
• develop a Strategic Asset Management Plan (SAMP) – higher level policies for asset management direction in the organisation
• develop Asset Management Plans (AMPs) – plans for differing groups or classes of assets, supporting the SAMP
• develop an Asset Register
• implement systems for planning, scheduling, recording and monitoring maintenance
• develop and monitor asset management objectives and targets
• embrace asset management risks and opportunities throughout the business
• ensure staff are competent and understand their asset management responsibilities
• control any outsourcing of asset management and maintenance
• monitor asset management performance
• control asset management nonconformances and take corrective action for significant or repetitive nonconformances
• conduct internal audits of the asset management system
• ensure senior management strategically review the asset management system.

Documentation Requirements:
• Asset Management Policy
• AMS or Management Manual
• Procedures
• Strategic Asset Management Plan (SAMP)
• Asset Management Plans (AMPs)
• Asset Register
• Maintenance System
• Improvement Plan (monitoring asset management objectives and targets)
• Registers – nonconformances and corrective action.

Implementing an Asset Management System:

55001 Table

Benefits of an Asset Management System:
• demonstrated due diligence by meeting customer requirements
• meeting international best practice for asset management
• meeting tender requirements and stand out from the competition
• improved reputation and enhanced company profile
• improved financial performance
• improved services and outputs
• long term system integrity and tracking assets over lifecycle
• informed asset investment decisions
• improved organisational sustainability
• increased asset efficiency and performance
• greater transparency of assets’ location and maintenance
• easily integrated with other management systems.

TQCSI Certification Process:
• contact your TQCSI Office and ask for a quote or apply on-line - TQCSI will need to know what your business does, how many employees (full time equivalent) and what types of asset classes are applicable
• to prevent delays, don’t wait until your Asset Management System is fully implemented.

Certification Mark for Asset Management System:

ISO 55001 Certification Logo

The certification mark can be used on all marketing material to promote your certification.

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ISO 9001, ISO 14001, AS 4801, FSSC 22000, ISO 22000, HACCP, ISO 27001, ISO 55001 and more