Monday, 18 January 2016 17:01

S821: Understanding ISO 55000

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ISO 55000 is about using the organisation’s assets for maximal gain

Important Note: If unsure of the background to the ISO 55000 standard, read the "S820: What is Asset Management and how does it differ from Maintenance" page.

The discipline of Asset Management is increasingly important. In Asset Management full regard for achieving maximum benefit from the organisations’ assets is intended. Such expertise draws from all functions within an organisation: from business, financial, human resources, as well as operations and maintenance management. It is particularly challenging, therefore, to gain a good understanding of the discipline across the whole breadth of the knowledge base.

The ISO 55000 standard assists asset intensive businesses to achieve excellence in Asset Management. This is of critical importance when dealing with shareholders and regulators, who expect first-class results from the business’ assets.


In deciding whether Asset Management is for your organisation, consider the following questions:

  • Do you understand the risk profile associated with your asset portfolio and how this will change over time?
  • Can you demonstrate the business consequences of reducing/increasing your capital investment or maintenance budgets by 10% over the next five years?
  • Can you justify your planned asset expenditures to external stakeholders?
  • Can you easily identify which investment projects to defer when there are funding or cash flow constraints?
  • Do you have the appropriate asset data and information to support your Asset Management decision-making?
  • Do you know if your people have the right competencies and capabilities to manage your assets?
  • Do you know which Asset Management activities to outsource?

The ISO 55000 set (ISO 55000, ISO 55001, ISO 55002) of International Standards is primarily intended for use by:

  • Those involved in the establishment, implementation, upkeep and improvement of an asset management system
  • Those involved in delivering asset management activities and services
  • Those needing to assess an organisation’s ability to meet legal, regulatory and contractual requirements

Course Content

Module 1

  • Introduction
    • Benefits of ISO 55001
    • Tips for implementing ISO 55001
  • Structure and contents of the
  • ISO 55001 standard
  • Terms and definitions
  • What is Asset Management?
  • Asset Identification
  • Asset Management and Organisational effectiveness
  • Framework for an Asset Management System

Module 2

  • Elements of an Asset
  • Management System
  • Asset Management in Organisational context
  • Determining the scope of the Asset Management System
  • Leadership in asset Management
  • Leadership and Commitment
  • Organisational Roles and Responsibilities
  • Planning for Asset Management

Module 3

  • Asset Management System Support
  • Resources
  • Competence
  • Communication
  • Information Requirements
  • Asset Management System Operation
  • Operational Planning and Control
  • Management of Change
  • Outsourcing
  • Asset Management System Performance Evaluation
  • Monitoring System outcomes
  • Internal Auditing
  • Management Review
  • Asset Management System Improvement
  • Nonconformity and Corrective action
  • Preventive action
  • Continuous Improvement
  • Integrated Management systems Approach
  • How to obtain ISO 55001 certification


Who Should Attend

Maintenance Managers, Maintenance Engineers, Reliability Engineers, Production Managers, Business Managers.


Credits 8*, level 6**                      

* The course comprises 40 hours of study, of which 24 hours are in class, with a further 16 hours for an assignment.

**Higher Diploma level


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Read 5103 times Last modified on Thursday, 05 January 2017 16:24