What the ISO 55000 and ISO 55001 Updates Achieved and Failed to Achieve

Updates to ISO 55000 and ISO 55001 were released earlier this month to great and ongoing fan fair.? This blog highlights what these updates achieved and failed to achieve.

Bottom Line Up Front (BLUF):

What the ISO 55000 Update Achieved:

• Establishment of Asset Management Principles and Outcomes
• Establishment of the Maturity Concept
• Emphasizes the Need for Leadership and Teamwork

What the ISO 55001 Update Achieved:

• Clarification of Value Determination and its Role in Decision Making.
• Requires Explicit Use of an Asset Management Framework
• Introduces Expectations for Asset Management Knowledge Development

What the ISO 55000 Update Failed to Achieve:

• Clarity of Executive Leadership Responsibilities
• Clarity of the Organization's Need for Enterprise Risk Management
• Guidance/Insight on How an Organization Should Approach Asset Management

What the ISO 55001 Update Failed to Achieve:

• A Clear Vector for Management System Thinking
• Full Removal of the Physical Asset Bias

Development of each point is in a free AMP Newsletter that can be obtained through a free subscription at https://amp4outcomes.substack.com/ The full article can be found at: https://amp4outcomes.substack.com/p/what-the-iso-55000-and-iso-55001