ISO 55001 asset management: what is the standard?
ISO 55001 is the international standard with requirements for an asset management system (AMS). An asset is a physical possession that has value for your organisation, such as a pumping station, a transformer station or a production line. The AMS records how you plan, maintain and replace those possessions. The standard comes from the International Organization for Standardization (ISO) . The Dutch edition is available from NEN .
It is about the system, not the technology. ISO 55001 does not say how to repair a pump. It does say that you must know which pumps you have, when they are due for replacement and who decides that. More about the requirements is on ISO 55001 requirements per chapter.
ISO 55001 is a standard with requirements. An auditor checks whether you meet them, and that can lead to a certificate.
The three asset management standards
There are three ISO standards that belong together. Each has its own role.
| Standard | What it contains | Certifiable? |
|---|---|---|
| ISO 55000 | Terms and principles, revised in 2024 | No, it is the foundation |
| ISO 55001 | Requirements for an asset management system, 2024 version | Yes |
| ISO 55002 | Guidance on applying ISO 55001, 2018 version | No |
If you read ISO 55001, you need ISO 55000 to understand words such as “asset” and “value”. ISO 55002 helps if you want to know how to put the requirements into practice. More about those two is on ISO 55000 and 55002.
Quick facts
| What is it? | Requirements for an asset management system |
| Current version | ISO 55001:2024, second edition of July 2024 |
| Replaces | The 2014 version |
| Mandatory? | Voluntary. It can become mandatory through a contract, a tender or regulation |
| Certificate? | Yes, from a certification body with accreditation |
| Certificate validity | Three years, with surveillance audits in years one and two (according to NQA ) |
| Price of the standard | See the current price on iso.org |
Who is it for?
ISO 55001 suits organisations that have a lot of money tied up in physical assets. Think of grid operators, water authorities (waterschappen), municipalities, infrastructure managers and industrial companies. Kiwa, a large certification body, names infrastructure managers, plant managers and network and grid owners as its target groups.
A fictional example: Netwerk Oostveld manages medium-voltage cables, transformers and switch cabinets in one region. With an AMS it records which components are due for replacement first, who does that and how it keeps track.
On the page ISO 55001 for whom? you can read which signs point to a need for it.
Is it mandatory?
No, ISO 55001 is voluntary. It becomes mandatory when a law, a regulator, a client or a contract requires it. Which route applies to you is set out on Is ISO 55001 mandatory?.
Version 2024 in brief
ISO 55001:2024 replaces the 2014 version. The new version gives more attention to climate, sustainability and data. The chapter structure stays the same as in the other ISO management standards. You can read exactly what has changed on ISO 55001 version 2024.
All topics on ISO 55001
Sources
- ISO - ISO 55001:2024 Asset management, management systems, requirements
- NEN - Standards and publications
- Kiwa - ISO 55001 asset management
- NQA - ISO 55001 certification