ISO 55001Asset Management

Manage business assets across their life cycle, from acquisition to decommission.

All organisations have assets. These can be physical, such as vehicles, buildings and equipment, or intangible, such as your brand or intellectual property. Such assets have a value to your business and the ISO 55001 standard helps you protect and enhance that value.

The ISO 55001 standard provides the framework for a structured Asset Management System. This will enable you to manage your business assets across their lifecycle, from acquisition to decommission. The system provides an efficient way to control the risks and costs associated with asset ownership, while supporting continual improvement and value creation

Why should I apply for ISO 55001 certification?

The Standard builds on the Publicly Available Specification 55 (PAS 55), which the Institute of Asset Management (IAM) developed in the UK. The PAS 55 approach has a proven record of success in the utility (water, electric and gas) industries. Now the ISO 55001 standard enables other sectors to benefit from a similarly robust approach to asset management.

The ISO 55001 Asset Management System will equip you with an industry best practice approach to managing assets across their lifecycle. It will provide you with a common language for communicating the value of assets to financial stakeholders, such as investors, credit agencies, bondholders and insurers.


Here are some benefits of using the ISO 55001 framework:
  • 1

    Improved financial performance – The ISO 55001 Asset Management System can improve you return on investment by managing expenditure, driving down costs and protecting asset values.

  • 2

    Improved risk management – The framework’s structured reviews enable you to give your managers accurate information on assets. This will improve operational efficiency and effectiveness while reducing the risks of asset ownership.

  • 3

    Standardised reporting – ISO 55001 enables your organisation to compare its performance with other industries, in the public and private sectors, to ensure you are implementing best practice.

  • 4

    Enhanced reputation – Implementing ISO 55001 will ensure your company complies with its legal obligations and protects its assets, so increasing customer satisfaction and stakeholder confidence.

  • 5

    Strengthened business growth – This structured and coordinated asset management system will help you develop clear plans that everyone understands and can support, so driving process improvements across your organisation.

  • 6

    Enhanced environmental performance – Through improved asset management, you will improve business sustainability and meet the expectations of your stakeholders for economic performance and social responsibility.

How businesses have benefitted from Standards

How to get ISO 55001

Our expert consultants will work with you and your business to make the certification process as straightforward as possible. This includes helping you make any necessary improvements to your business processes.

Our 3-stage certification process ensures you get the help you need at every step. We can even create your Asset Management System manual for you – saving you time and money.

Once you have achieved ISO 55001 certification, you will need to pass an audit each year. This will ensure your business continues to benefit from complying with the standard. Your first audit will happen one year after you receive your ISO 55001 certificate.

Please enter your details below and select the documents you require, these will then be emailed to you.

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How much does an ISO 55001 cost?

The cost of certification depends on several factors. These include your sector, annual turnover, and number of employees. We will also need to know if you require industry specific accreditation (such as ASCB or UKAS).

However, QMS is committed to providing a cost-effective route to ISO 55001 certification. That’s why we focus on making the process straightforward. We will save you money because, instead of creating complex document trails, we will build an Asset Management System that works for you.

Find out how affordable ISO 55001 certification really is by just using our Fee Calculator. We’ll email you a bespoke quote immediately.

How long will it take to get ISO 55001?

From your first consultation with our ISO specialists through to certification, the process can take as little as 45 days. However, this does depend on the size and complexity of your business.

Remember, we can normally save you time and effort by drafting your Asset Management System manual for you. This can also help you gain certification faster than you would by doing it yourself.

 

Latest ISO 55001 news

At QMS we are constantly updating our approach and process to meet the latest changes in how ISO 55001 works.