ISO 55001

ISO 55001 – the international management standard for Asset Management systems

ISO 55001, the successor to PAS 55, is the new ISO 55001 standard that provides the framework within which effective Asset Management practices can be defined and implemented.

We help you deliver a mature asset management approach that addresses all the requirements of ISO 55001 in a way relevant to your business and stakeholder requirements. 

An Asset Management system should cover all of the aspects contained in ISO 55001, looking at what needs to be done and determining how it is to be done. 

Lloyd’s Register worked closely with the British Standards Institution (BSI) and the Institute of Asset Management, in the development of PAS 55 and ISO 55001.  Our expertise stems from engineering and consultative knowledge that we have shared across many sectors including power, upstream and downstream oil and gas, nuclear, transport manufacturing and utilities.  Our service approach combines specific sector knowledge with cross sector asset management expertise to bring not just the depth required for specific industries, but also the transfer of knowledge and learning from the global asset management profession.

How we provide Asset Management support

Analysis Services:

  • Impartial and objective assessment of AM arrangements
  • Assessment of the AM system against defined requirements
  • Maturity assessment – useful to establish the position but also how the position changes over time
  • Benchmarking – comparison of arrangements with good practice
  • Independent “Reporting” – often carried out for Regulators or major buyers of AM outsourced services
  • Programme performance monitoring

Development Services:

  • Advising on strategic system development and implementation
  • Performance measurement and management
  • Asset Information
    • requirements specification, system evaluation and selection
    • linking information, risk management and decision making
  • Risk Management
    • establishing risk management frameworks aligned to the business need, supporting decision making
  • Competence Management
    • defining and implementing Asset Management competence regimes
  • Strategic Planning
    • developing strategic asset management plans aligned to business needs in a pragmatic way
  • Resource Planning
    • understanding the needs of the business
    • funding, people , material, technology
  • Outsourcing
    • developing strategies and controls for contracting AM activities
    • making sure it is effectively controlled

  • Developing your personnel
  • Board level workshops
  • Asset Management Standards training
  • Interactive AM training for practitioners
  • One to one mentoring

Recent projects

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