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ISO 55001 Asset Management System

Asset Management

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 for differing groups or classes of assets.

This management system is used to ensure that all the required criteria for the governance can be met without needless duplication of resource effort and operations.

Benefits of ISO 55001 Certification

Some organizations must comply with the relevant laws and regulations. Compliance ensures that the organization follows the rules made by the government and authorities. The benefits of an ISO 55001 certified Asset Management System are varied, including:

  • demonstrated due diligence by meeting customer and governmental 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 life-cycle

  • 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.

ISO 55001 Asset Management System (AMS) Requirements

For the detailed requirement, you can purchase from the website of the International Organization for Standardization (ISO) which develop and publish international standards or its authorities, ISO 55001 standard requires organisations to show that they:

​•    understand external & internal issues, and interested parties, relevant to asset management
•    develop an Asset Management Policy declaring commitment to asset management
•    develop Strategic Asset Management Plans for differing groups or classes of assets
•    develop an Asset Register
•    elaborate necessary procedures for the control of the life-cycle of assets in different groups
•    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 review the asset management system.

How can we assist your organization to award ISO 55001 Certification?

Stage 1: Perform site visit and understand the organizational structure, style and culture of their operations, their existing documentation (e.g. manual, procedures or forms), resources and training you deployed.
Stage 2: Provide ISO requirement training to the responsible top management.
Stage 3: Discuss with the responsible top management to define the responsibilities of staff at all levels in your management system.
Stage 4: Perform risk and opportunity assessment of your asset management system and coordinate with you to prepare the relevant response with associated documentation or resources.
Stage 5: Coordinate and define Management Policy and Objective or Goals with you according to ISO requirement
Stage 6: Establish necessary mechanism with associated resources and elaborate your management system documents in order to meet ISO requirement.  We will NOT provide a set of totally separated ISO procedures from your existing procedures that it will cause the difficulty in maintaining your management system or certification renewal.
Stage 7: Implement the approved procedures established in Stage 6 through training or briefing to the concerned staff. Among the trial period, any change is allowed to fit your needs or management style without deviating the ISO requirement.
Stage 8: Provide internal audit training to your audit team and perform the first internal audit with them to your management system together.
Stage 9: Perform management review to ensure your management system conforming the ISO requirement.
Stage 10: Select the certification body for certification.

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