ISO 55001

ISO 55001 is an international standard that stipulates the requirements of an asset management system, and provides requirements and guidelines for the establishment, implementation, maintenance, and improvement of an asset management system. It was first issued in 2014 and is applicable to all organizational structures and asset types of a company. By operating an asset management system in accordance with ISO 55001 requirements, organizations can better control their day-to-day asset management activities, achieve higher returns, and reduce the cost of risk.

< ISO 55001 >

Expected effects of ISO 55001

• •  Review of processes, procedures and asset performance helps management determine the balance of cost, risk, opportunity, and performance to improve organizational efficiency and effectiveness. This allows organization to reduce and manage the risks associated with owning an asset.
• •  A good asset management system can improve return on investment and reduce costs regardless of short-term or long-term organizational performance. These advantages can preserve the asset value and bring profits.
• •  Transparent legal and institutional requirements that follow quality and asset management standards, policies and processes improve customer satisfaction and stakeholder awareness and trust.

< Key terms relating to asset management system >

Key terms relating to asset management system

• Asset : Item, thing or entity that has potential or actual value to an organization
• Asset portfolio : Assets that are within the scope of the asset management system
• Critical asset : Asset having potential to significantly impact on the achievement of the organization’s objectives
• Asset management : Coordinated activity of an organization to realize value from assets
• Strategic asset management plan (SAMP) : Documented information that specifies how organizational objectives are to be converted into asset management objectives, the approach for developing asset management plans, and the role of the asset management system in supporting achievement of the asset management objectives

“ISO 55001 Auditor” registration requirement of GPC

• check Education level beyond secondary graduation
• check Over 5 years of work experience (including at least 2 years of experience related to asset management)
• check Completion of ISO 55001 Auditor/Lead Auditor training
• check Pass knowledge and attribution examination of GPC
• check Audit log of at least 20M/D within 3 years