ISO 55001:2024: what has changed compared with 2014?

ISO 55001:2024 is the second edition of the asset management standard. ISO published it in July 2024, following the 2014 version. You can find the official document on the ISO page for ISO 55001 .

The changes mainly affect the strategic asset management plan (SAMP), risks, and the management of data and knowledge. For an existing system, this means extra work in those areas. You can find the full requirements per chapter on the requirements of ISO 55001.

The changes at a glance

The standard has new parts and a number of revised parts. This table shows which ones. The number refers to the chapter in the standard.

Part	What changed in 2024
Decision framework (4.5)	New. You describe how you make decisions about assets
SAMP (6.2.1)	New part in chapter 6
Objectives (6.2.2 and 6.2.3)	Revised
Risks (6.1.2) and opportunities (6.1.3)	New, each in a separate part
Data and information (7.6)	New
Knowledge (7.7)	New. You decide which knowledge is needed
Operation and outsourcing (8.1 and 8.3)	Revised
Management review (9.3)	Revised
Improvement (10.3)	New

The list of new and revised parts comes from the ISO page of the standards committee . Check the details in the official text before you put them in a document.

What this means for your system

Not every change requires the same amount of work. The new parts on decision-making, the SAMP and knowledge need the most new work. You cannot write them down in a few days.

Take Waterbedrijf Hoogland (fictional). The company has an ISO 55001 system from 2014 with a SAMP that mainly lists objectives. During the move, the decision framework is missing. There is also no plan for data, and no overview of the knowledge required. Those three parts are the work.

Gap analysis against the new requirements

Go through the table above against your own system. Mark what is missing and what only needs to be named differently.

Update the SAMP and the decision framework

Set out your choices about your assets in the SAMP. Describe how you decide, with which criteria and over which time horizons.

Split risks and opportunities

Separate risks and opportunities in your planning. Also check whether climate risks affect your assets, and include them.

Record data and knowledge

Make an overview of the data you need and the knowledge required per role. Plan a regular check.

Plan the transition with your certification body

Ask your certification body which date applies to your certificate and when the transition audit takes place.

The changes build on what you already do. If you have a well-functioning system, you do not start from scratch. The SAMP and the decision framework are the parts that contain most of the new work.

What does this mean for existing certificates?

A certificate based on the 2014 version does not stay valid indefinitely. You must move to 2024 within a transition period.

Your certification body sets the period and the end date for your certificate. Ask Kiwa , DNV , or the body that issued your certificate. Also ask how they assess the transition. You can read more about the certificate itself on applying for a certificate.

Frequently asked questions about ISO 55001:2024

Do I need to convert my certificate now?

Not immediately, but it is better to start now. The transition takes time. Ask your certification body for the exact period.

Is ISO 55001:2024 much more demanding than the 2014 version?

That depends on your system. The new parts are 4.5 (decision framework), 6.2.1 (SAMP) and 7.7 (knowledge). Discuss with your certification body what this means for you.

What changes for risks and opportunities?

In 2024, risks and opportunities have separate parts in chapter 6: 6.1.2 for risks and 6.1.3 for opportunities. For the precise difference from the 2014 version, read the official text of the standard.