ISO 55000 Certification
About ISO 55000 certification
ISO 55000 is a globally recognized standard for asset management that any organization, of any size and in any industry, can use. It was developed by the International Organization for Standardization (ISO) to help organizations manage risk by setting performance criteria that are refined over time through a continual-improvement cycle. This blog looks at ISO 55000 certification, its history, and the sectors that benefit from it.
ISO 55000: a family of standards
The ISO 55000 asset management standards were first published in 2014 and were significantly updated in 2024. The current core family is:
- ISO 55000:2024 – Asset management: overview, principles, and terminology
- ISO 55001:2024 – Asset management systems: requirements (the certifiable standard)
- ISO 55002:2019 – Asset management systems: guidance on applying ISO 55001
The 2024 update also introduced new guidance standards: ISO/TS 55010 (aligning financial and non-financial asset management functions), ISO 55011 (public-policy guidance), ISO 55012 (people involvement and competence), and ISO 55013 (managing data assets).
What exactly is an asset?
It helps to define “asset” first. An asset is any economic resource an organization manages – physical property such as equipment, vehicles, and technology, as well as cash reserves, intellectual property, people, and other intangibles. Assets can deliver value or become a financial burden, so putting formal systems in place to manage them and maximize their value is vital to your long-term success and stability – and to the assets’ own long-term viability. The standard can be applied to any type of asset.
What is ISO 55000 certification?
ISO 55000 certification is a standardized approach to asset management. The important point to remember is that certification is carried out against ISO 55001, not ISO 55000. Even so, auditors and the organizations being audited need to understand ISO 55000 – and, to a lesser extent, ISO 55002 – to interpret the (deliberately broad) requirements set out in ISO 55001.
Who can apply for ISO 55000 certification?
Because it applies to all types of assets – equipment, software, processes, even people – the standard suits every industry. Sectors that benefit most include:
- Utilities: manage ageing infrastructure and regulatory scrutiny, and improve coordination with subcontractors across both long-term planning and day-to-day maintenance.
- Property management & real estate: support code and bylaw compliance, coordinate major renovations, and integrate energy and environmental management to cut running costs.
- Oil & gas: keep critical equipment well-maintained to avoid costly unplanned downtime, with a scalable approach across multi-site operations.
- Construction: a valuable fleet-management tool for tracking light and heavy equipment, lowering operating and ownership costs and improving reliability.
- Manufacturing: track building and equipment maintenance and connect with environmental, information security, and health-and-safety systems as part of the ISO family.
- Transportation: better fleet management and route planning, lower fuel and maintenance costs, and less compliance paperwork.
- Distribution: standardized, repeatable processes for global supply chains, lowering costs and improving transparency and accountability.
Benefits of ISO 55000 certification
As a management system standard, ISO 55001 can strengthen an organization’s risk management – helping you make informed decisions, manage risk, and improve efficiency by aligning asset-related risks with business strategy. Built, like all ISO standards, on documented, repeatable procedures measured against defined metrics, certification lets you:
- Develop a reliability-focused preventive maintenance programme that manages risk across an asset’s life
- Demonstrate to sponsors, insurers, and other stakeholders that your essential assets are managed under an independently audited system
- Reduce operating costs by extending equipment life and prioritizing preventive maintenance over expensive repairs
- Plan better for major capital expenditure and respond more proactively to change
- Provide a framework for monitoring supplier and subcontractor performance
- Improve equipment reliability, creating safer workplaces and reducing the risk of accidents
The bottom line
ISO standards are valued by stakeholders worldwide, and as asset management matures, certification will only grow in importance for reputation and marketing. Whether you’re expanding into new markets or scaling up, ISO 55001 certification is a valuable tool for strategic planning.
Contact IAS today to learn more about ISO 55001 certification, or visit our frequently asked questions page.
Explore more
- ISO Certification in Canada – all IAS management system schemes
- ISO 14001 Certification in Canada – environmental management, often paired with asset management
- ISO Training in Canada – build in-house auditing capability
