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What is ISO 55001 Asset Management Certificate? 

What is ISO 55001 Asset Management Certificate? 

What is ISO 55001 Asset Management Certificate? 

ISO 55001 Asset Management System aims to mitigate the risk to the assets while contributing to business continuity

Companies are expected to manage their physical and intangible assets meticulously and proactively throughout their lifecycle. By certifying your organisation’s ISO 55001 Asset Management System, you can reduce costs, maximize return on investment and optimize growth throughout the asset lifecycle.

ISO 55001 standard was first published in 2014. It aims to mitigate the risk to the assets while contributing to business continuity and improving asset management continuously. It’s crucial for organisations to manage their assets in a framework that is internationally approved and fits the purpose of each organisation.

ISO 55001 can be applied to all organisations independent of the size, and structure. Implementing ISO 55001 framework provides a better control of the assets.

History of Asset Management

With the rapid increase in population in the world, technological developments have increased in needs. Accordingly, while the assets owned are limited, the demand is increasing. This basic need has led to Asset Management and the development of methods and techniques to be applied to every sector. All these have accelerated the maturation process of Asset Management.

Modern Asset Management has been used in the Finance world for over 100 years. Since the 1980s, the Asset Management System has been implemented by institutions and organisations to generate maximum value from their physical assets.

Rapidly developing technology is complex structures and they need to be used efficiently in line with the needs. As a result of the emergence and implementation of modern Wealth Management in countries such as England, America, Australia, New Zealand and Canada, very important gains have been achieved. The assets owned are managed with minimum risk, maximum benefit and optimum cost balance.

As a result of all these developments, Asset Management is defined by ISO 55000 as “coordinated activities undertaken by an organisation to derive value from assets”. Although this definition is quite simple, it is normal to see differences in applications since each organisation has different dynamic structures.

Some of the benefits of Asset Management are as follows;

  • Strategy & activity harmony is ensured,
  • Optimum cost & benefit balance is established,
  • Awareness rises to higher levels in corporate authority and responsibilities.
  • Institutional consistency is ensured in change management,
  • Transparency in decision making is possible,
  • More effective resource management is achieved with the right investments.
  • Risk-centred thinking is adopted by the organisation,
  • It is possible to evaluate opportunities effectively and in a timely manner,
  • With a preventive approach, risks can be eliminated before they occur.
  • There will be a reduction in the total operating cost,
  • There is improvement in business performance,
  • Effective and efficient maintenance and repair planning is done.

If you are not yet managing your organisation’s assets, this standard is going to provide you with a systematic approach, a framework tailored for your organisation’s needs that aims to maximise the relationship of the organisation with its assets. Get in touch with us to book an assessment of your organisation’s needs via info@cfecert.co.uk

The trainings we provide within the scope of this standard;

  • ISO 55001 AMS, Awareness
  • ISO 55001 AMS, Internal Auditor
  • ISO 55001 AMS, Implementation
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