ISO 55001

Asset 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

Client Testimonials of QMS and the ISO Certification Process

    [The Consultant] explained everything so well, felt confident in making the decision to becoming ISO accredited.
    Julie McIntosh, Director. Domino VAT Accounting Ltd

    3rd May

    General review

    Quiet, courteous, comprehensive and complete. [The Consultant] covered all the points very effectively and answered all my questions in an easy to understand and engaging manner.
    David West, Managing Director. Emendo Solutions Limited

    17th July

    General review

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.

Once you have achieved certification the certification cycle will commence. This is made up of surveillance and re-certification audits, one of which must take place each year, around the anniversary of your certification. These visits confirm your continued compliance with the Standard and verify the validity of your certification.

Maintaining your ISO Management System

QMS Connect delivers all the tools you need to achieve and maintain ISO compliance.

With simple navigation, real-time reporting and the ability to modify and update content on the go, QMS Connect keeps you in control. Accessible online via your computer, tablet or smartphone 24 hours a day, QMS Connect helps you manage your ISO Management System in real-time.

QMS Connect helps engage your teams, so that you can capture data that will drive business decisions – increasing repeat business, reducing customer complaints and ultimately saving you both time and money.

Find out more
A screenshot of the QMS Connect system on various platforms from desktop to mobile

Download these helpful documents:

    Guide to ISO certification

    Why you should choose QMS to assist your business with ISO certification

    Published 12/2018

    General downloads

    Standard Overview: ISO 55001

    Understanding the Basics of ISO 55001

    Published 12/2018

    ISO 55001 downloads

    QMS International Company Profile

    Find out about QMS, our achievements and some of our clients

    Published 02/2019

    General downloads

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.

Complete the calculator to receive your instant quote

    • Product of Interest
      Please fill this in
    • Company Name
      Please fill this in
    • Sector
      Please fill this in
    • Annual Turnover
      Please fill this in
    • Total Staff
      Please fill this in
    • Number of Offices
      Please fill this in
    • We Have a UK Office
      Please confirm you have at least one UK based office
    • First Name
      Please fill this in
    • Last Name
      Please fill this in
    • Phone Number
      Please fill this in
    • Your Email Address
      Please fill this in

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.

    Everything you need to know about ISO Management Systems

    Thu, August 08 2019

    Are you struggling to get your head around ISO Management Systems? This comprehensive guide will tell you all the essentials and get you up to speed in no time!

    What is the Plan Do Check Act cycle?

    Wed, June 12 2019

    Find out about the Plan Do Check Act cycle and how it works.

    What is Annex SL?

    Thu, April 25 2019

    Annex SL is a term that you may have come across while looking into ISO Management Systems, but what is it?

Cookies

QMS International use cookies to provide you with a better site experience, enable features and to help us understand how our website is being used.

By continuing, you consent to the use of cookies in accordance with our Cookie Policy

Allow All Cookies