ISO 55000:2014 provides an overview of asset management, its principles and terminology, and the expected benefits from adopting asset management.

ISO 55000:2014 can be applied to all types of assets and by all types and sizes of organizations.

An asset management system provides a structured, best practice approach to managing the lifecycle of assets.

  Reduced risks associated with ownership of assets – anything from unnecessary maintenance costs and inefficiency to accident prevention (explosions at gas plants for example)

  Improved quality assurance for customers/regulators – where assets play a key role in the provision and quality of products and services

  New business acquisition – stakeholders gain confidence from the knowledge that a strategy is in place to ensure assets meet the necessary safety and performance requirements

 Supports international business growth – demonstrating that the requirements of an internationally recognised asset management system are being met