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Understanding ISO 55000 and International Asset Management standards

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A set of international standards focusing on Asset Management, ISO 55000 originates from the British Standards Institute’s ‘Publicly Available Specification 55’ (PAS 55).

Released early this year, ISO Standard has now largely replaced PAS 55 as the default global standard for best practice in Asset Management.

The three components of the ISO Standard include ISO 55000, providing an overview, key concepts and terminology in asset management; ISO 55001, defining the requirements of an asset management system; and ISO 55002, detailing how such an asset management system can be implemented.

The ISO 55000 set of standards can be applied to all types of assets and by all types and sizes of organisations.

Why is this standard important?

Unified process

The ISO 55000 framework guides organisations into developing a unified Asset Management Framework that aligns processes, resources and functional business units, and drives productivity and business performance.


In addition to providing consensus on defines Asset Management, the ISO 55000 Standard can also generate benefits for all organisations, ensuring effectiveness and reliability in organisational processes. With businesses increasingly seeking suppliers and partners that comply with the ISO 55000 standard, organisations can enhance their acceptability by qualifying for this ISO standard.

Continuous improvement

Continuous improvement is a critical mechanism in ensuring optimised productivity and controlling costs, regardless of industry, business size or asset structure. There is always room for improvement, particularly within asset intensive organisations; an effective Asset Management system designed around the ISO 55000 framework is therefore essential for driving this process.

Integration with other industry standards

ISO 55000 integrates with various management standards such as ISO 9001 for quality management, ISO 14001 for environmental management, OHSAS 18000 for occupational health and safety, and ISO 31000 for risk management, enabling company-wide improvements and inter-organisational synergy.

How does Mainpac Software enable ISO 55000 Compliance?

Mainpac recommends a free consultation for organisations to explore how ISO 55000 compliance can be supported by Mainpac’s Enterprise Asset Management and Asset Intelligence products.

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