ISO 55001 emerged to support something that can cause major problems for companies: Asset Management! This is because the absence of a structured asset management system can generate a series of difficulties that compromise performance, safety and even the financial sustainability of our organizations. Usually, these problems do not appear all at once, they are not a major immediate alert, but rather accumulate gradually over time, eroding the efficiency and credibility of companies.
It all starts with interruptions and loss of productivity. Poor care of assets leads to unexpected failures and unplanned downtime. As a result, these incidents compromise customer delivery, generate rework and reduce process reliability. All of this, of course, can also represent risks to people’s safety, environmental impacts, and legal nonconformities.
In the medium and long term, poor management can lead to the shortening of asset life cycles. After all, when there is no control over use, maintenance or replacement, assets deteriorate faster and may not even meet their expected useful life. As a result, the return on investment decreases and the cost of replacement, maintenance and repair increases significantly.
All of this, of course, greatly increases operational costs while reducing production capacity. The lack of clarity about resources also leads to decisions based on guesswork, which once again worsens the organizational situation. In the end, what remains is loss after loss, something that can even lead to bankruptcy.
Due to its great importance, asset management is a major aspect for any company. Therefore, we decided to prepare this content to help you evaluate the importance of ISO 55001. By the end of this material, you will understand what it is, its relevance, and whether you should implement it in your organization. Shall we begin?
What are assets?
In general, an asset is any item, thing or entity that has potential or real value for an organization. This definition is quite broad because many things can be assets. There are, for example, the most common ones such as machines, vehicles, buildings, production equipment. But there are also intangible ones, such as the brand itself, the company’s reputation, and its intellectual property.
Our employees, with all their technical knowledge and skills, are also an important asset. Likewise, stocks, bonds and monetary reserves are examples of financial assets. In the same way, data and systems (represented by databases, ERP systems, technical records, maintenance histories, etc.) are important resources that help and can boost organizational growth and, therefore, are assets.
In summary, an asset is any resource that contributes — or can contribute — directly or indirectly to achieving a company’s objectives and results. Thus, any resource that generates value, such as infrastructure, technology, data and even people, can be managed under the perspective of asset management and, consequently, ISO 55001.
What is asset management?
Asset management, in turn, is a set of activities structured in a systemic way to obtain the maximum value from an organization’s assets or ensure their proper preservation and maintenance. It acts throughout the organization, mapping, organizing and taking care of all types of assets (human, financial, tangible, intangible, etc.).
It is in this context that ISO 55001 is inserted, a standard aimed at guiding this practice. Below, let us review its characteristics and benefits.
What is ISO 55001?
ISO 55001 is a management standard published by ISO (International Organization for Standardization). Its main goal is to help organizations maximize the value of assets throughout their life cycle, balancing cost, risk, performance and sustainability. Thus, it seeks to ensure that asset-related decisions are based on clear and strategic criteria — based on facts and data — rather than guesswork or reactive responses to immediate problems.
According to the standard’s own page on the ISO website, the standard “details the requirements needed to establish, implement, maintain and improve an asset management system.” In other words, the standard seeks to support the creation of a set of policies, processes, methods and resources to manage the asset life cycle in an integrated, strategic and sustainable way. Therefore, the AMS (asset management system) is a coordinated method that organizes best practices, ensuring consistency, control and continuous improvement in asset management.
Benefits of applying ISO 55001
A good AMS created in accordance with ISO 55001 can bring hundreds of benefits to a company. These benefits may be direct or indirect, tangible or intangible. Furthermore, these advantages may vary from company to company, context to context. Therefore, it is difficult to list all possible benefits of this standard, but we can highlight some of the most broad and common ones:
Significant reduction in operational and maintenance costs;
Greater management, reliability and performance of assets;
More effective management of risks and failures, improving productivity and reducing rework;
Better decision-making based on facts and data, increasing action accuracy;
Greater alignment between asset management and the organization’s strategic objectives;
Increased transparency and corporate governance;
Optimized asset life cycle;
Improved and traceable financial performance;
Increased overall sustainability of the company and its assets;
Enhanced reputation and reliability with investors and stakeholders;
Etc.
Thus, ISO 55001 is essential because it offers an organized and sustainable structure for asset management. It guides companies in controlling the entire life cycle of these assets, balancing performance, risks and costs. The standard contributes to maximizing the value obtained and, consequently, elevating performance and stakeholder satisfaction — something all companies seek!
ISO 55001: a necessary… and universal standard!
To conclude, it is important to understand that ISO 55001 is not just a technical standard but rather a way of rethinking the value of our companies. It invites us to look at assets not as costs, but as sources of results, continuity and trust. That is, as investments and opportunities to do more and do better.
Whether in a large industry, a hospital network, a city government or even a technology company, the essence is the same: each asset has a unique and fundamental role in delivering value. And this is what makes ISO 55001 universal, as it adapts to the context, size and nature of your business. All of this, of course, while fulfilling its purpose: ensuring that everything an organization owns, uses or manages contributes coherently and sustainably to achieving expected results.
Therefore, in a world increasingly driven by data, risks and constant resource scarcity, ISO 55001 becomes more than a certification. It serves as a map of coherence between purpose and practice, helping companies take better care of what they have, so they can better deliver what they promise. Now it’s up to you: does this standard make sense for your company?
