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

Asset Management Framework - Special Edition

The ISO 55000 – Asset Management standards series were born on 15 January 2014.  This release is distinguished by ISO 55001 being the first International Organization for Standardization (ISO) management system published using what is now called the Harmonized Structure.  The genius of the Harmonized Structure is it accelerates and streamlines integration of management functions to generate value for the organization.

ISO management system standards approach value generation from two primary perspectives.  The first is action driven and generates value through the control of process quality.  The second is outcome driven and generates value through the coordination of activities.

The vanguard to the first perspective is the ISO 9000 – Quality Management series.  This standard series was first published in 1987 and builds off a large body of work focused on quality and process management.  This includes the Plan-Do-Check-Act cycle and application of configuration management regimes.  Tod…