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ISO 55001

Having grown out of PAS 55, ISO 55001 is being widely adopted in utilities, transport, mining, process and manufacturing industries worldwide and is seen as the blueprint for any organization focused on management and control of assets and in maximizing their value.

Successful businesses are those who are able to manage their assets to achieve desired operational performance and profitability. ISO 55001 provides the framework for an asset management system that will help your business to pro-actively manage the lifecycle of your assets, from acquisition, through operation to decommissioning. It helps you to manage the risks and costs associated with assets, and to maintain a beneficial balance between input invested in assets and output achieved for the business.

Released in January 2014, ISO 55001 outlines how to establish a management system that best manages your assets. Through independent assessment and certification, DNV GL will support you to achieve this goal. As an accredited certification body we deliver consistent procedures through a high quality audit team.

What does ISO 55001 cover?ISO 55001 applies to all assets, whether physical, financial, human or intangible, in both the public and private sectors. It is applicable to any type of organization, large or small, and within in any business sector.

It establishes a good practice model for looking after all the assets of your business. It identifies the framework and tools to ensure that assets meet necessary safety and performance requirements.

Helping you optimize management of your business assetsISO 55001 is an internationally recognized standard for achieving an integrated management system for asset management.

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What are the benefits of ISO 55001? ■ Establishing a proactive lifecycle asset management system to realise the value of an organization’s assets

■ Manages risks and improves performance through informed decision making, associated with ownership of assets

■ Establishes assurance for customers and regulators – where assets play a key role in the provision and quality of products and services

■ Gives confidence to stakeholders through the knowledge that a strategy is in place to ensure assets meet the necessary safety and performance requirements

■ Supports international business development – good asset management is critical to delivering your products and services

■ Demonstrates social responsibility, and commitment to the specific culture of the business, building a sense of pride and ownership among employees

Integration with other standardsISO 55001 is part of the ISO 55000 series of standards, which consists of three different documents providing terminology, requirements and guidance for introducing, maintaining and improving an effective asset management system. Through the use of the ISO High Level Structure (HLS) as a foundation, it is designed to be compatible and harmonized with other prominent management systems standards such as ISO 14001 for environment management systems and ISO 9001 for quality management systems. It is therefore ideal for integrating into existing management systems and processes.

How can I prepare for certification?It is important that you and your organization approach certification against ISO 5001 like all strategic business decisions, with a clear corporate commitment, with set target dates for implementation and effective communication throughout the organization. Organizations that plan well will have an advantage and realise the most benefits from certification.

This includes: ■ Establishing a clear understanding of the expectations and justifications for taking this route

■ Getting a firm commitment from senior management ■ Clearly allocating timescales, resources and responsibilities ■ Keeping the whole business informed with good internal communication

■ Carrying out regular monitoring of existing systems ■ Establishing a system around the specific needs of your organization and in line with your wider business objectives

■ Performing a gap analysis, comparing the organization’s existing processes and procedures against the requirements of ISO 55001

■ Educating staff about the workings of ISO 55001 and encouraging further involvement through internal auditor training

■ Establishing an implementation team who can help meet objectives and identify opportunities for performance improvements

■ Remembering that developing, implementing and certifying an asset management system is a continuous journey, with the audit representing one element of an on-going improvement process

Risk Based Certification™* – tailored to your organization’s unique needs DNV GL’s Risk Based Certification methodology provides greater value to your organization through focused audits. We start by asking you to identify the most significant risks to your organization’s sustainable business performance. In addition to measuring against the selected standard, we tailor the audit to address those identified risks. This is vital in helping you pinpoint key improvement areas.

By providing focused and structured information to senior management on the organization’s ability to meet long term objectives, we offer more value than any other certification body.

WHY PARTNER WITH DNV GL?

DNV GL is a world-leading provider of classification, certification, verification and training services. We help businesses assure the performance of their organizations, products, people, facilities and supply chains by providing these services.

Driven by our purpose of safeguarding life, property and the environment DNV GL enables organizations to advance the safety and sustainability of their business. With our origins stretching back to 1864 our reach today is global: we operate in more than 100 countries. Our 16,000 professionals are dedicated to helping our customers make the world safer, smarter and greener. Partnering with our customers we build sustainable business performance and create stakeholder trust.