ISO 5500x-Family of Standards

5 Facts on ISO 5500x

ISO 55000 - Overview, principles and terminology
ISO 55001 - Requirements

ISO 55002 - Guidelines on the application of ISO 55001

The Document Structure in General

The ISO 5500x provides various definitions, principles and requirements for a conform
asset management setup. For your orientation, we have compiled the five most essential
facts on the following pages. All facts are summarized on the next page and subsequently
explained in detail as you go through the document. This document concludes with an
overview showing our methodology to prepare and guide your asset management to ISO
5500x readiness.

It is not the strongest of the species to survive, nor the most intelligent, but the one most
responsive to change.
Charles Darwin (1809-1882)

5 Facts, an Overview
1. The ISO is directed to all those whose business success is strongly dependent on an
effective management of their assets.

2. An ISO 5500x compliant asset management is based on 4 core theses.

3. The ISO focuses the asset management system in 7 related topics.
4. The asset management system comprises 4 components. Each of those components
contents are derived from the hierarchically next highest component. This is to
guarantee maximum compliance of the asset management system to the
organizational targets.

5. ISO 5500x compliant asset management system is a risk based approach. As such,

minimization of risks as well as taking advantage of opportunities for organizational

targets are both trigger and justification for asset management actions.

Fact 1: Relevance of the ISO Standard

What?
ISO 5500x
Set of AM-practices for an
Implementation of an asset
management system

Who?
Relevant for
1. those considering how to
improve the realization of value
for their organization from their
asset base;
2. those involved in the
establishment, implementation,
maintenance and improvement of
an asset;
3. those involved in the planning,
design, implementation and
review of asset management
activities;
4. along with service providers
Standard is intended to be used for
managing physical assets in particular,
but can also be applied to other asset
types.

Why?
Targets/ Benefits
Enabling of an organization to
consistently achieve organizational
targets through effective and
efficient management of assets

Assets - thing or entity that has

potential or actual value to an
organization
Asset Management Asset
management involves the balancing
of costs, opportunities and risks
against the desired performance of
assets, to achieve the organizational
objectives

Fact 2: Core Theses within the ISO Standard

Definition of assets within the
asset management system

Assets exist to provide value to the organization and its stakeholders and
should therefore be managed by an effective asset management system

Asset management serves the

purpose to achieve
organizational objectives

Asset management transfers organizational objectives into decisions and

actions to achieve these objectives

Leadership and commitment as

essential module of asset
management

Strong leadership and organizational/ employee culture are essential

determinants to enhance value creation

Implementation und
continuous improvement of
the asset management concept

Configuration and implementation of processes that support the

achievement of organizational objectives as well as processes to enforce
continuous improvement are essential. Continuous improvement means the
organization's ability to introduce sustainable and effective improvement of
the asset management and the asset management system itself

Fact 3: ISO 5500x is structured in 7 Core Topics

7 Core Topics the Structure of the ISO
Standard

The qualification of the asset

management system is discussed within
7 core topics (chapter 4 10)
Ch. 4: Context of the organization
Ch. 5: Leadership
Ch. 6: Planning
Ch. 7: Support
Ch. 8: Operation
Ch. 9: Performance evaluation
Ch. 10: Improvement
Note: Existing management system
standards that currently do not follow this
structure will be adjusted with their next
revision.

Fact 4: 4 Core Components of an Asset Management System are

derived from organizational Objectives
The four components of an asset
management system

The ISO Standard defines four separate

components of an asset management
system:
Asset management policy
Asset management objectives

Strategic asset management plan

(SAMP) (high level strategy)
Asset management plans
Each of those components contents
are derived from the hierarchically next
highest component. This is to
guarantee maximum compliance of the
asset management system to the
organizational targets.

Fact 5: ISO 5500x compliant Asset Management is a Risk based

Approach
Risk Orientation

Risk orientation is a major aspect of the

ISO 5500x compliant asset
management system. Risks emerge
whenever potential events threaten
organizational objectives. Nevertheless,
events may also be conductive and
therefore positive risks or chances.
Identified risks or chances are both
trigger and justification for asset
management actions.

E-Bridge guides you to ISO 5500x Readiness

Phase 1: Gap Analysis

Description of existing asset

management concept
Assessment of compliance with
ISO 5500x requirements
Identification of needs for
action (organizational
requirements, processes and
regulations)
Support during implementation
phase

Phase 2: Pre-Audit

Audit of implementation of
identified organizational
requirements in phase 1 and
possible amendments
Audit of processes and
regulations on ISO 5500x
compliance

Phase 3: Certification

Support during actual

certification
The certification will be
performed by a 3rd party to
ensure independence during the
certification process

David Faustmann
E-Bridge Consulting GmbH
Meckenheimer Allee 67
D-53119 Bonn
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