Asset Management

The term Asset Management stands for the systematic and coordinated planning, management and maintenance of an organization's assets. The main aim is to ensure the required performance and availability of assets while minimizing the costs and expenses and managing the risks at the same time.

The Asset Management System defines the organizational framework:

Stakeholder requirements
Technical and legal specifications
Corporate objectives, strategies and plans
Processes, resources and responsibilities
Risk management
Information management

The ISO 55000 standard introduced by the International Organization for Standardization (ISO) in 2014 provides users with an established set of rules.

The standard is divided into three documents:

ISO 55000 Overview, principles and terms

ISO 55001 Requirements for Asset Management Systems

ISO 55002 Guidelines for the implementation of Asset Management Systems