How to Start Implementing ISO 55001

Asset management can quickly become complex and costly to your organisation without a proper plan. The ISO 55001 standard allows you to create an effective asset management system (AMS), meet regulatory requirements, achieve financial goals, and develop long-term resilience. It also helps organisations optimise the lifecycle of assets more effectively and minimise the total costs of risk.

At Best Practice, we can help you implement an efficient and effective AMS if you’re starting your journey to obtain optimum value from your assets.

What Is ISO 55001?

ISO 55001 defines requirements for implementing, maintaining, and improving an asset through a comprehensive asset management system. It offers a framework to create asset management processes and governance, policies, and organisational objectives. The international standard for AMS features three documents, namely:

  • ISO 55000 – Outlines the Overview, Principles, and Terminology for an Asset Management
  • ISO 55001 – Defines Management System Requirements
  • ISO 55002 – Provides guidelines for Management Systems used in the applications of ISO 55001

Getting Started

Whether you’re looking to improve an existing system or starting your ISO 55001 journey, Best Practice Biz has the right resources and tools to help fulfil your asset management plans. However, to ensure better results, you need to:

Understand ISO 55001 and prepare: The first most important step is to understand the content of your AMS and figure out how it will drive value for your business. An excellent place to understand this standard is to learn its fundamental principles, which are:

  • Value: understand how your assets will provide value to your organisation, stakeholders, and employees.
  • Leadership: Your asset management efforts should allow management to show commitment and take the lead.
  • Assurance: AMS provides assurance that an asset will serve the intended purpose and meet its asset management objectives.
  • Alignment: This defines plans and measures implemented to ensure the organisational objectives are translated into technical and financial activities and decisions.

Prepare your team – You should ensure your team understands the principles and requirements of ISO 55001 and are ready to adopt it. Define the roles employees will need to play in the processes and activities against the standard.

Management review – Before you eventually get certified, ensure the management is ready. You should also have the right people for internal audits, gap analysis, and other performance measures. Then contact Best Practice for assessment and ISO 55001 certification.

How to Start Implementing ISO 55001 | Prepare your team | Best Practice Blog

Benefits of ISO 55001 Certification

Implementing a mature AMS can drive significant value to your business. Here is what you can gain from applying this standard.

  • Enhanced efficiency and effectiveness
  • Improved reputation
  • Better services and increased outputs
  • Better risk management
  • Improved asset investment decisions
  • Proves compliance

Contact Best Practice Certification

As a JAS-ANZ accredited certification body, Best Practice Certification is dedicated to helping you walk through your ISO 55001 implementation journey. We offer various resources, including in-house training and support programs to help you understand asset management principles. Contact us today to get the help you need.

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