Asset Management

ISO 55001

ISO 55001:2014 is the International Standard for Asset Management.

What is ISO 55001?

Assets come in all shapes and sizes, but one thing is for certain all organizations have assets. Assets can be a competitive advantage or can drain your organization’s resources. That’s why it is important to manage your assets effectively and ISO 55001 can do just that. ISO 55001 is especially relevant in industries that are capital intensive, have significant physical assets to manage and have high fixed costs. This can include utilities, heavy and light manufacturing, distribution, construction, property management and transportation. 

ISO 55001 was published in January 2014 and establishes specific requirements for not only implementing and maintaining an asset, but also improving that asset via an Asset management system. It builds upon PAS55 which had a proven track record specifically in the utilities industries. ISO 55001 aims to apply this approach across other sectors allowing all businesses to benefit from it.

It is designed to provide structure and guidance to an Asset Management System (AMS) to manage and mitigate risk, whilst benchmarking performance across all sectors and improving financial performance in line with organizational growth strategies.

Helps you with

  • Improved financial performance
  • Competent asset investment decisions
  • Effective integrated risk management
  • Improved resilience and reliability
  • Improved services and outputs
  • Demonstrated social responsibility
  • Demonstrated regulatory compliance
  • Enhanced reputation
  • Improved customer and stakeholder satisfaction
  • Improved organizational sustainability
  • Improved efficiency and effectiveness

Benefits of Gaining Certification

Ability to win more business

Procurement specifications often require certification as a condition to supply, so certification opens doors.

Customer satisfaction

Deliver products that consistently meet customer requirements and a service that is dependable and can be relied on.

Improved stakeholder relationships

Improve the perception of your organization with staff, customers and suppliers.

Legal compliance

Understand how statutory and regulatory requirements impact your organization and its customers.

Proven business credentials

Independent verification against a globally recognized industry standard speaks volumes.

Reduced operating costs

Continual improvement of processes and resulting operational efficiencies mean money saved.

Improved risk management

Greater consistency and traceability of products and services means problems are easier to avoid and rectify.

Steps to Certification

  1. Step 1

    Complete a Quote Request Form so that we can understand your company and requirements. You can do this by completing either the online quick quote or the online formal quote request form. We will use this information to accurately define your scope of assessment and provide you with a proposal for certification.

  2. Step 2

    Once you’ve agreed your proposal, we will contact you to book your assessment with an NQA Assessor. This assessment consists of two mandatory visits that form the Initial Certification Audit. Please note that you must be able to demonstrate that your management system has been fully operational for a minimum of three months and has been subject to a management review and full cycle of internal audits.

  3. Step 3

    Following a successful two stage audit, a certification decision is made and if positive, then certification to the required standard is issued by NQA. You will receive both a hard and soft copy of the certificate. Certification is valid for three years and is maintained through a programme of annual surveillance audits and a three yearly recertification audit.

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