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Posts Tagged ‘ISO 55001’

ISO 55001 is relevant in industries especially that are capital intensive, have physical assets to manage and have high fixed costs. This ISO 55001 can include utilities, heavy and light manufacturing, distribution, construction, property management and transportation. ISO 55001 was published in January 2014 not only implementing and maintaining an asset but also establishes specific requirements, and improving that asset via an Asset management system.

The main goal of ISO 55001 is 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 to manage and reducing the risk, although the standard performance across all sectors and improving financial performance in line with organizational growth strategies.

ISO 55001 provides a framework for an asset management system that business with proactively managing the lifecycle of assets from acquisition to decommissioning. Assets which are associated with Managing the risks and costs and maintaining a beneficial balance between inputs invested in assets and output achieved for your business can be easily managed with an asset management system.

Importance of Asset management

To manage the assets properly you will be able to use your available assets wisely and get more out of their utilization while delivering added value to the business. Asset management is designed to supports in the proper handling of processes and risks, which will lead to the improvement of current and future company performance.

Moreover, the implementation of an Asset Management System that observes with ISO 55001 that enables the organization to align its objectives with asset management system. The asset management objectives which leads the organization towards achieving its intended outcomes.

ISO 55001 applies to all assets, whether physical, financial, human or intangible, in both the public and private sectors of organizations. And this assets are applicable to any type of organisation, large or small, and within in any business sector.

What are the benefits of ISO 55001?

  • For realizing the value of an organisation’s assets, there is establishing a proactive life-cycle asset management system.
  • With the help of ISO 55001, manages risks and improves performance through informed decision making, associated with ownership of assets.
  • Assets play a key role in the provision and quality of products and services when establishing assurance for customers and regulators.
  • Through the knowledge that a strategy is in place to ensure assets meet the necessary safety and performance requirements to give confidence to stakeholders.
  • Supports international business development – good asset management is critical for delivering products and services.
  • In the business, indicates the social responsibility and commitment to the specific culture, to build a sense of pride and ownership among employees.

To prove ISO 55001 certification is crucial the ability to run a more streamlined operation and a good corporate reputation. Today, readymade ISO 55001 documents that includes manuals as well as audit checklists are available on internet, companies can download them and audit their existing Asset management system based on ISO 55001:2014 requirements. The certification helps you as an individual to differentiate yourself from other professionals involved in the Assets Management.

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