Key Elements of the International Organization for Standardization (ISO) 55000 Standards
(Source-GAO Summary of Key Elements of the International Organization for Standardization (ISO) 55000 Standards-GAO-19-57)
ISO 55000 Section Key elements
Establishing context of the organization
• Align the organization’s asset management system to its organizational objectives given the
organization’s purpose, needs, and requirements
• Ensure that the organization’s asset management strategy and criteria for asset management decision making address external and internal stakeholder requirements and expectations
• Determine the scope of the asset management system, considering, among other things, the organization’s objectives, asset portfolio, and structure
• Establish, implement, maintain, and continually improve an asset management system, including a strategic asset management plan that documents how the system supports organizational objectives
Promoting leadership
• Demonstrate leadership commitment to the asset management system
• Establish an asset management policy to guide the organization’s management strategy, set
asset management objectives and govern asset management activities including a commitment to satisfy applicable requirements and continually improve the asset management system
• Ensure that the responsibilities and authorities for asset management are assigned and communicated within the organization
Developing support
• Identify and determine strategies for addressing risks and opportunities related to the
organization’s assets and the asset management system’s ability to achieve the organizational objectives
• Develop asset management objectives while considering organizational objectives and requirements the organization faces from stakeholders, laws and regulations, and financial constraints
• Integrate achieving asset management objectives into other organizational-planning activities including finances, human resources, and other support functions
• Develop a strategic asset management plan that documents how the organization plans to achieve its asset management objectives including its method and criteria for decision making and prioritization, and the processes to be employed to management assets
Operations
• Determine and provide for the resources needed to establish, implement, maintain, and continually improve the asset management system
• Identify the skills necessary for the different personnel roles in the asset management system and ensure that the persons used in those roles have the appropriate competencies, education, training, and experience
• Implement strategies and establish requirements to ensure and evaluate that employees are aware of the asset management policy and the contribution of their work activities to the asset management system’s success
• Determine the need for internal and external communication relevant to the asset management system in order to enable effective decision making and stakeholder engagement
• Determine information and data requirements needed to support effective asset management including quality, attribute, collection, analysis, and evaluation requirements
• Document and control information required to ensure the effectiveness of the asset management system and compliance with applicable laws, regulations and policies governing the organization and its asset management system
• Plan, implement and control the processes needed to implement its asset management system
• Monitor performance of the asset management system including anticipating changes in performance and mitigating adverse effects
• Manage risks associated with outsourcing activities related to the asset management system including determining, evaluating and establishing governance over outsourced activities
Performance evaluation
• Determine what aspects of the asset management system need to be monitored and measured, determine how this monitoring and measurement will take place, and report on the performance of the asset management system
• Establish an internal audit program to conduct audits at planned intervals to determine compliance of the asset management system with the organization’s own requirements and the ISO standard
• Establish management reviews, at planned intervals, of the organization’s asset management system to ensure its continuing suitability, adequacy and effectiveness
Improvement
• Establish processes to identify non-conformities within the asset management system, identify root-causes, and implement remedies or corrective actions based on evaluation of these non- conformities
• Establish processes using results of internal audits and management reviews to proactively identify failures in the asset management system and evaluate the need for preventative action
• Continually improve the suitability, adequacy and effectiveness of the organization’s assets, asset management strategy, and asset management system
Note: The ISO 55000 standards are made up of three documents collectively referred to as “ISO 55000.” The table summarized the requirements against which organizations are measured when pursuing certification, which are contained within the document officially known as ISO 55001.
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