ISO 55001-2024 PDF

Full title and description

St ISO 55001-2024 — Asset management — Asset management system — Requirements. This is the second edition of ISO 55001, establishing the requirements for creating, implementing, maintaining and continually improving an asset management system applicable to any organisation and any asset type.

Abstract

ISO 55001:2024 specifies requirements for an asset management system that help organisations realise value from assets over their whole life cycle. The 2024 edition clarifies requirements on decision‑making and value realization, asset management planning, risk and opportunities, and management of data and knowledge; it is intended for organisations of all sizes and sectors that manage physical, digital, financial or intangible assets.

General information

• Status: Published.
• Publication date: 3 July 2024 (Edition 2).
• Publisher: International Organization for Standardization (ISO), prepared by ISO/TC 251 (Asset management).
• ICS / categories: 03.100.01; 03.100.70 (Asset management; Management systems).
• Edition / version: Edition 2 (2024).
• Number of pages: 18 (ISO published PDF length).

Scope

This International Standard specifies the requirements for the establishment, implementation, maintenance and improvement of an asset management system. It is applicable to all types and sizes of organisations and to all asset types; the organisation determines which assets the standard applies to. The standard does not set financial, accounting or technical requirements for specific asset types but focuses on the management system that governs asset-related activities.

Key topics and requirements

• Requirements for an asset management system aligned with organisational objectives (policy, planning, support, operation, performance evaluation, improvement).
• New, clearer requirements on asset management decision‑making and realizing value from assets (new section on decision‑making and value).
• Asset management planning and life‑cycle management of assets (from acquisition through operation to disposal).
• Risk and opportunity management specific to asset portfolios and activities.
• Data, information and knowledge management to support decisions and demonstrate performance.
• Leadership, roles, competence and stakeholder (interested party) considerations.
• Requirements to monitor, measure and continually improve asset management performance.

Typical use and users

ISO 55001:2024 is used by organisations that rely on assets to deliver value: utilities, transport operators, manufacturers, infrastructure owners, public sector bodies, service providers and others. It is used by those responsible for establishing, operating or auditing asset management systems — including asset managers, senior management, system implementers, consultants and certification bodies.

Related standards

Part of the ISO 55000 series. Key related standards are ISO 55000 (overview and principles) and ISO 55002 (guidance on application). ISO/TC 251 also published companion guidance standards alongside the 2024 suite (for example ISO 55011, ISO 55012 and ISO 55013) to support policy, people/competence and data aspects of asset management.

Keywords

asset management, asset management system (AMS), lifecycle, value realization, decision‑making, risk and opportunity, data management, performance measurement, ISO 55000 series, ISO/TC 251.

FAQ

Q: What is this standard?

A: ISO 55001:2024 is the International Standard that specifies requirements for an asset management system to help organisations manage assets and realise value over their life cycle. It is the 2024 (second) edition superseding the 2014 edition.

Q: What does it cover?

A: It covers the structure and requirements of an asset management system (policy, planning, support, operation, performance evaluation and improvement), with explicit emphasis in 2024 on decision‑making, value realization, asset management planning, risk and data/knowledge management. It does not prescribe technical or accounting details for specific asset types.

Q: Who typically uses it?

A: Asset managers, senior leadership, system implementers, auditors, certification bodies, and organisations across utilities, transport, manufacturing, infrastructure, public services and other sectors that rely on assets to deliver value.

Q: Is it current or superseded?

A: Current — published 3 July 2024. It replaces ISO 55001:2014 as the active ISO international standard; organisations and certification bodies will manage transitions according to their chosen timelines (some certification schemes have published transition periods of up to three years following publication). Check with your national body or certification body for the exact transition deadlines that apply to your certificate.

Q: Is it part of a series?

A: Yes. ISO 55001:2024 is part of the ISO 55000 family (ISO 55000, ISO 55001, ISO 55002) and the 2024 publication campaign introduced companion guidance standards from ISO/TC 251 (for example ISO 55011–55013) to expand policy, people and data guidance.

Q: What are the key keywords?

A: Asset management, asset management system (AMS), lifecycle management, value realization, decision‑making, risk management, data and knowledge, performance measurement, ISO 55000 series.