ISO 55001:2014 Asset Management

If your organization has multiple assets at the heart of the business, you’ll know that an efficient asset management strategy, regardless of whether the assets are financial, physical or organizational, should contribute to better operating results, performance and ultimately improve your bottom line. 

ISO 55001 Asset Management supersedes PAS 55

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.

What is ISO 55001?

A new international suite of standards has been created to give guidance in asset management best practise. ISO 55001 focuses on helping you develop a proactive lifecycle asset management system. This supports optimization of assets and reduces the overall cost of ownership while helping you to meet the necessary performance and safety requirements.


What are the benefits of ISO 55001?

An asset management system provides a structured, best practice approach to managing the lifecycle of assets.

  • Reduced risks associated with ownership of assets – anything from unnecessary maintenance costs and inefficiency to accident prevention (explosions at gas plants for example)
  • Improved quality assurance for customers/regulators – where assets play a key role in the provision and quality of products and services
  • New business acquisition - stakeholders gain confidence from the knowledge that a strategy is in place to ensure assets meet the necessary safety and performance requirements
  • Supports international business growth – demonstrating that the requirements of an internationally recognised asset management system are being met

Client Case Study - Scottish Water

Scottish Water is among the five largest water utilities in the UK, providing regulated water and wastewater services to five million customers in 2.4 million homes and 124,000 businesses. A major focus of Scottish Water is investment in its infrastructure, maintaining and upgrading its physical assets to assist in the provision of clean drinking water.

Popular training courses for ISO 55001


We use accelerated learning techniques to make sure you fully understand ISO 55001. And we put your learning into context with a blend of classroom teaching, workshops and interactive sessions.