ISO 55001 Archives - HP Reliability, an Eruditio LLC company.

What You Must Know About Assessing Your Asset Management System

Often times organizations what to determine where they in their journey of asset management. This usually takes place in the form of benchmarking or assessing their asset management system against the standard. Before progressing any further, it is important to understand the difference between an assessment and an audit;

Assessment is defined as a systematic process of collecting and analyzing data to determine the current, historical, or projected status of an organization or system.
Audit is defined as an inspection and examination […]

The 7 Requirements of an Asset Management System

Understanding the Requirements of the ISO 55001 Standard

When looking through the ISO 55001 standard, one may quickly become overwhelmed with the requirements. The ISO 55001 standard was written in a way that groups the requirements. Making it easier to understand & implement the standard.

This is different that subjects found in asset management (which we will discuss next week). These are the requirements that must be met if one to certify themselves against the ISO 55001 standard.

Context of the Organization

Since asset management is an organizational system, it is imperative that the organization takes into […]