ISO 55000 Standard for Asset Management
Assets, and value realized from them, are the basis for any organisation delivering what it aims to do. Whether public or private sector, and whether the assets are physical, financial, human or ‘intangible’, it is good asset management that maximizes value-for-money and satisfaction of stakeholders’ expectations. It involves the coordinated and optimized planning, asset selection, acquisition/development, utilization, care (maintenance) and ultimate disposal or renewal of the appropriate assets and asset systems. Insights into the integration and optimization of asset management have developed since the 1990s (from the North Sea oil and gas industry and the Australian public sector), to identify a range of essential business processes, alignment activities, and system integration features that yield very significant performance benefits.