Implementation walkthrough
How to implement ISO 55001: video walkthrough
A walkthrough of implementing an ISO 55001 asset management system that connects organisational objectives to decisions about every asset class.
Key takeaways
- ISO 55001 covers decisions about assets across their whole life cycle.
- A decision-making framework sets the value, criteria and methods for asset decisions.
- The SAMP links organisational objectives to asset management objectives.
- Asset data, information and knowledge are controlled.
- Certificates to the 2014 edition transition by 31 July 2027.
Realising value from assets across their life
ISO 55001 is the international standard for asset management systems: the requirements for how an organisation decides about, plans, operates, maintains and renews the assets it depends on, so that they deliver value across their life cycle. It applies to assets of every kind, physical and non-physical, and to organisations of any size and type, with the organisation deciding which of its assets the system covers.
An asset management system is not a maintenance schedule with a policy attached. It connects what the organisation wants to achieve to the decisions taken about every asset class: what to build or acquire, how hard to run it, when to maintain, refurbish, renew or dispose of it. This short film walks through how the system is implemented.
From decision-making framework to certificate
Define what the certificate must cover: the asset portfolio, sites and activities, the contractors involved and the expectations of stakeholders. A gap analysis then compares current practice with the 2024 edition and agrees actions.
The build establishes the way asset decisions are taken, setting out the value the organisation wants from its assets and the criteria, methods and tools used to decide. A strategic asset management plan, the SAMP, links organisational objectives to asset management objectives, and asset management plans set out what will be done to each asset class and when. Data, information and knowledge about the assets are brought under control, life-cycle activities are planned and carried out, and predictive action addresses problems before they occur. Internal audit and management review follow before an independent, accredited certification body, with auditors who meet the asset management competence requirements, assesses the system and decides.
Sterling's expert and experienced consultants build the SAMP, decision-making framework, plans and controls with your team under Sterling OS™, with the system held in Effivity. ISO 55001:2024 is the second edition, and certificates to the 2014 edition transition by 31 July 2027, on the timetable the certification body confirms.
ISO 55001 at a glance
- Purpose
- Asset management: realising value from assets across their life cycle, with cost, risk and performance weighed on evidence against stated criteria
- Relevant to
- Any organisation whose assets carry the business: utilities, infrastructure and transport operators, oil and gas, manufacturers, property portfolios and public bodies, and the contractors who manage assets for them
- Edition
- ISO 55001:2024, second edition; certificates to the 2014 edition transition by 31 July 2027, on the timetable your certification body confirms
- Certification
- Assessed and decided by an independent, accredited certification body whose auditors meet ISO/IEC TS 17021-5 for asset management
- Sterling's role
- SAMP, decision-making framework, plans and controls built with your team, Effivity, training, internal audit and certification readiness, then Sustain™
- Cost and timing
- Total investment for an ISO 55001 AMS depends on the current maturity of your processes, the scope, locations and number of employees. The process typically takes 6 to 12 months
ISO 55001: questions people ask
Do we need a complete asset register before we start?
No. You need a governed one: the asset classes that matter identified, the attributes decisions need defined, owners and quality rules assigned, and a plan for improving the rest. The gap analysis usually finds the register in several systems that disagree; the work is to decide which is the source of truth for what.
What is a strategic asset management plan, and is it mandatory?
The SAMP is the documented link between your organisational objectives and your asset management objectives. In the 2024 edition it is a subclause of its own (6.2.1), carries the decision-making framework and is required. It can be one document or a set of documents you already have, provided they cover what the standard requires and leadership stands behind them.
Is ISO 55001 only for physical assets?
No. The standard applies to all types of assets, physical and non-physical, and the organisation decides which assets the system covers, taking its legal, regulatory and contractual requirements into account. Most certified systems centre on physical infrastructure, plant and property; scope can widen later.
We already run a CMMS or EAM system. Is that not enough?
A maintenance system records work. ISO 55001 requires how you decide what work, investment and disposal the assets need, on what criteria, and how you know the decisions delivered value. Your CMMS or EAM becomes a source of evidence inside the system, not a substitute for it; Effivity sits alongside it for the management-system records.
Is ISO 55001 certification mandatory?
No law requires it in general. Regulators, concession grantors, lenders and large customers ask for evidence of systematic asset management, and an ISO 55001 certificate is often the simplest way to provide it. Many organisations implement it with no external demand at all, because the renewal backlog and the failure rate demand a better way to decide.
Keep exploring
Related to this video
The complete guide
Everything on ISO 55001
Start with the ISO 55001 page, or go straight to the guide you need.
On the ISO 55001 page
- What are the main ISO 55001 requirements?
- How do you get ISO 55001 certified?
- How much does ISO 55001 certification cost?
- How long does ISO 55001 certification take?
- Who needs ISO 55001 certification?
- How ISO 55001 supports value, risk and cost across the asset life cycle
- Frequently asked questions about ISO 55001
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