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Glossary
Operations and asset management

What is ISO 55001?

Definition

ISO 55001 is the international standard that specifies requirements for an asset management system, so an organization can manage physical assets against its objectives, risks and costs across their life.

Who adopts it

Utilities, airports, transport operators, hospital estates, universities and public works departments with large asset bases use it, some for certification and others as a framework without a certificate. It does not prescribe a maintenance method or software; it asks for objectives, plans, risk treatment and evidence that hang together.

The 2024 edition

ISO 55001 was first published in 2014 and revised in 2024, per ISO technical committee TC 251. The revision drew on about ten years of feedback from more than 50 countries and added clearer requirements on decision-making, value realization, planning, risk and opportunities, data and knowledge, and life cycle operations. ISO 55000:2024 provides the overview and vocabulary, and ISO 55002:2018 remains the application guidance.

Asset performance records from Aqueduct

Auditors look for evidence that asset performance is monitored and acted on. For equipment run through Smart Controls where control is enabled, with owner approval, Aqueduct keeps per-component health, runtime share and setpoint attainment, and a command history that confirms whether each command executed. The Health tab gives a per-sensor record of data quality.

Questions

ISO 55001: common questions

ISO 55001 is the requirements standard in ISO's asset management family. It sets out how an organization links its objectives to asset plans, manages risk and performance across the asset life, and reviews and improves that system. It sits beside ISO 41001 for facility management.

No. ISO 55001 certification is voluntary, though some regulators, concession contracts and owners expect an aligned approach. Utilities and transport operators are the most common certifiers, since their regulators and lenders often ask how asset risk and spending decisions are justified.

ISO 55001 describes the management system: objectives, plans, risk and review. A CMMS is software that records assets and work, and it can supply evidence to that system. Certification looks at both the records and the decisions made from them.

Measured asset performance and condition, linked to each asset in a register. Aqueduct supplies health, runtime and alert history per device, which helps an organization show that asset decisions rest on data. That evidence also feeds capital planning with condition data.

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