What Is ISO 55000?
ISO 55000 is a new international Standard on Asset Management that was released in January 2014.
It is based on Publically Available Standard – PAS 55.
It contains three documents. The first is about the Overview, Principles and Terminology. The second is about the requirements for Asset Management Systems and the third is about Guidelines for the application of the Standard.
ISO 55000 lets you know what is required to have an approved Asset management System in place.
ISO 55000 doesn’t explain how it should be done, which is good because all Organisations are different. Professional bodies such as the Institute of Asset Management have good resources to assist in the formulation of appropriate Asset Management Plans and to enable compliance with ISO 55000.
ISO 55000 assists in how to develop a long term Asset Management System by defining terminology and concepts, as well as helping an Organisation to prepare for a third-party Audit and Certification. It also includes assistance on meeting Stakeholder requirements, whilst integrating with Corporate Vision, Mission, Values, Objectives and Policies.
Quantity Surveyors can also play an important Costing role in Building Asset Management and can also be involved as Asset Managers.
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Building Asset Management using ISO 5500, makes good Business sense.