ISO 55001:2014 standard is related to asset management. This standard specifies the requirements for asset management system. This standard will help your business to manage the life cycle of your assets within the organization. The ISO 55001:2014 specifies requirements for an asset management system within the context of the organization. It can be applied to all type of assets with any size of organization. Such a process is related to Asset management can be the single most powerful weapon in a company's arsenal for saving time, money and manpower.

Requirements of ISO 55001:2014

·         Context of the Organization

·         Leadership and Commitment

·         Planning

·         Support

·         Operation and Control

·         Performance Evaluation

·         Improvement

Principles of ISO 55001

·         An organization is a system for doing work valued by its owners by using knowledge and supporting processes,

·         Organizational processes and activities are series arrangements of sequential steps where successful outcomes are quality dependent,

·         Mistakes and errors in processes must be eliminated to get maximum value,

·         Probability and uncertainty exists everywhere to cause variation and create risk.

·         A business aims to survive and profit, so short-term, long-term and lifecycle asset strategies must protect the business and also make it flourish.

Who can implement?

Organizations which look for the following requirements can apply for ISO 55001:2014.

·         To establish, implement, maintain and improve an asset management system;

·         To deliver asset management activities and service providers;

·         To assess the organization’s ability to meet legal, regulatory, and contractual requirements and the organization’s requirements.

Maintaining Effectiveness of Asset Management System with ISO 55001 Certification

The ISO 55001 certification can be achieved by step-by-step implementation of the asset management system within the organizations. A system awareness training and preparing ISO 55001 documents with help of experienced consultant, can be a very good option for quick and effective certification. Global Manager Group is one of the company is offering such readymade ISO 55001 documents on website that includes Asset Manual, procedures, SOPs, templates, forms, audit checklist and more. Anyone can search for such readymade tool available on web and use it that reduces repetitive work and hence costs and time as well as maintain accuracy.

Benefits of implementing ISO 55001

·         Best practices to manage life cycle of assets

·         Reduces risk related to ownership of assets

·         Improved quality assurance as assets plays vital role in provision

·         Legal requirements of assets are maintained

·         Supports business growth globally

·         Improved financial performance

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