What is Asset Management & its Importance?
ISO 55001 is an asset management system standard, the main objective of which is to help organizations manage the lifecycle of assets more effectively. By implementing ISO 55001 organizations will have better control over daily activities, achieve higher return with their assets, and reduce the total cost of risk.
This standard can be applied to all organizational structures of companies, and to all types of assets. The concrete outcomes consist of a growth in effectiveness accompanied by a dramatic drop in unit cost. This framework also supports continual improvement of performance and offers improvements for an organization of any industry, type or size.