What IS ISO 55001?

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ISO 55001 (International Asset Management Standard ) is an international Asset Management specification. It manages the lifecycle assets in an organization to achieve desired operational and financial performance.

Business owners can reap several benefits by using best practices to efficiently manage their assets.

Assets may include cash and raw materials as well stock. However, they can also include office equipment and buildings, intellectual property, and even building and real estate. ISO 55001 Certification will help you manage both your physical and intangible resources.

Assets can be of any size, but there is one certainty: assets exist in every organization. Assets are a competitive advantage for your organization or a drain on your organization’s resources. ISO 55001 helps you to manage your assets effectively. ISO 55001 applies especially to capital-intensive, hard-to-manage industries and those with high fixed costs. This can be utilities, heavy or light manufacturing, distribution, and construction, as well as property management and transport.

ISO 55001 Certification, published in January 2014, outlines requirements for both the implementation and maintenance as well as the improvement of an asset through Asset management software. It builds on PAS55 with its proven track record in the utility sector. ISO 55001 intends to make this approach universally applicable to all sectors to allow businesses to take advantage of it.

It is intended to structure and guide an Asset Management System. (AMS) can manage and mitigate risk. The system also benchmarks performance across all sectors and improves financial performance to support organizational growth strategies.

  • Helps us with
  • Improved financial performance
  • Competent asset investment decisions
  • Effective integrated management of risk
  • Resilience and reliability improved
  • Services and outputs are improved
  • Demonstrated and demonstrated social responsibility
  • Demonstrated regulatory compliance
  • Improved reputation
  • Stakeholder and customer satisfaction is improved
  • Improved organizational sustainability
  • Improved efficiency & effectiveness
  • Benefits from Obtaining Certification
  • You can win more business

Certification is an important condition for supplying goods and services in procurement specifications.

Customer Satisfaction

Deliver products that are consistent with customer requirements. Provide dependable, reliable services that can be relied upon.

Better Stakeholder Relationships

You can improve the perception of your organization with staff, customers, or suppliers.

Legal Compliance

Find out how statutory or regulatory requirements can impact your company and its customers.

Lower Operating Expenses

Saving money is possible by improving processes continuously and increasing operational efficiency.

Improved Risk Management

Products and services that are more consistent and traceable make it easier to identify and correct problems.

Other Possible Benefits Of ISO 55001 Certified

Effective Management Risk, Value, And Reliability Management

Stakeholder confidence is increased when there is good governance. Customers and regulators acting on customers’ behalf can result in lower insurance premiums.

Integration Seamless Of AMS And Integrated Management Systems

Current HSE, Security, Information Security, Quality, Environment, and Business Continuity Programs need current knowledge and effective management. A comprehensive AMS is a valuable addition to the overall Risk Management Model.

Standardize To Simplify

Asset management allows large organizations to standardize plants and equipment. This reduces the need for spares and supplies as well as training, support, and maintenance costs. Optimized asset-management programs will maximize value and allow you to take advantage of growth potentials.

Process And Personal Safety

Effective asset managing improves personal and processes safety. It also reduces the risk of catastrophic events and injury. Preventive risk management combined with operational asset management ensures that accidents and other incidents are minimized.

Image Reputation

Assets have a positive impact on the image and reputation of the organization as well as its operation. Assets, such as those in hospitality or retail, are often the first door to the enterprise. In turn, improved design results in increased visits.