ISO 55000

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ISO 55000 is an international standard covering management of physical assets. Initially a Publicly Available Specification (PAS 55) published by the British Standards Institution in 2004, the ISO 55000 series of Asset Management standards[1][2] was launched in January 2014.


PAS 55 was originally produced in 2004 by a number of organisations under the leadership of the Institute of Asset Management. It then underwent a substantial revision with 50 participating organisations from 15 industry sectors in 10 countries. PAS 55:2008 (available in both English and Spanish versions) was released in Dec 2008 along with a toolkit for self-assessment against the specification.[3]

The PAS gave guidance and a 28-point requirements checklist of good practices in physical asset management; typically this was relevant to gas, electricity and water utilities, road, air and rail transport systems, public facilities, process, manufacturing and natural resource industries. It was equally applicable to public and private sector, regulated or non-regulated environments.

The standard was split into two parts:

  • Part 1 - Specification for the optimised management of physical infrastructure assets
  • Part 2 - Guidelines for the application of PAS 55-1

It was also accompanied by a comprehensive Competencies Framework for asset managers.

Established in August 2010, ISO Project Committee 251 held its first plenary meeting in Melbourne, Australia in early 2011; its final meeting was in Calgary in early 2013. After almost 10 years of development, three international standards (55000/1/2) were launched in London on 5 February 2014.[4]

The Institute of Asset Management developed endorsement schemes for recommending competent assessors and training providers.[5]


  1. ^ "ISO 55001:2014 Asset Management". BSI Group. Retrieved 10 February 2014. 
  2. ^ "Asset management system standards published". News. ISO. 23 January 2014. Retrieved 10 February 2014. 
  3. ^ BSI PAS 55:2008, Institute of Asset Management. Retrieved 20 February 2015.
  4. ^ What is ISO 55000?. Institute of Asset Management. Retrieved: 20 February 2015.
  5. ^ ISO55000 Auditor Assessor Specification. Institute of Asset Management. Retrieved: 20 February 2015.

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