ISO 55000:2014(E) is an international standard that provides a concise overview of asset management, its underlying principles, and the terminology used across the discipline. The document defines the scope of asset management for all types of assets and organisations, explains why asset management is essential for delivering value, and outlines the fundamental concepts of value, alignment, leadership and assurance. It describes the benefits of applying asset management – from financial performance and risk reduction to sustainability and stakeholder confidence – and clarifies what an asset is, how assets are grouped, and how their life‑cycle is managed. The standard introduces the Asset Management System (AMS) as a set of interrelated elements (context, leadership, planning, support, operation, performance evaluation and improvement) that together enable organisations to translate strategic objectives into asset‑related decisions and actions. It also discusses the integrated management‑systems approach, showing how an AMS can be built on existing quality, environmental, health‑and‑safety, and risk‑management systems. A comprehensive glossary of terms (general, asset‑related, asset‑management‑related, and system‑related) is provided, together with Annex A – a list of related subject‑area standards – and Annex B – a diagram of the relationships among AMS elements. The standard serves as a reference for organisations seeking to understand, implement, or improve asset management practices and to align with the more detailed requirements of ISO 55001 and ISO 55002.
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Scope and Purpose of ISO 55000:2014
Defines the intended audience, applicability to all asset types and organisations, and the relationship to ISO 55001/55002.