Superseding PAS 55 Asset Management – which has proved to be one of the most popular standards of all time – ISO 55001, accompanied by ISO 55000 ‘Overview, principles and terminology’ and ISO 55002 ‘Guidelines for the application of ISO 55001’ will support businesses in achieving the best possible net return from assets while reducing the cost of ownership. With the key difference being that PAS 55 focused on physical assets only whilst ISO 55001 reflects a consideration of all types of financial, organizational and physical assets.