An ISO 55001:2014 – asset management system provides a framework for managing an organisation’s physical, financial and intangible assets in a systematic and integrated manner. The standard is generic and applicable to all types and sizes of organisations, including public and private sector enterprises, and to all types of assets.

Asset management systems are not a new concept, and there are a number of different frameworks and standards that organisations can choose from. ISO 55001:2014 is the international standard for asset management systems, and is based on the globally recognized ISO 55000 series of standards. ISO 55001:2014 was developed by an international team of experts, and was published in 2014. The standard is generic and applicable to all types and sizes of organisations, and to all types of assets. It is designed to be used in conjunction with other management systems, such as quality management systems (ISO 9001) and environmental management systems (ISO 14001). There are a number of benefits of using an ISO 55001:2014 – asset management system. These benefits include: – improved management of assets and associated risks – improved decision making – increased transparency and accountability – a culture of continuous improvement – financial savings – improved morale – employee engagement – improved organisational performance