ISO 55001 transition

January 2014 saw the publication of ISO 55001, the new asset management system standard, replacing the PAS 55 standard, which was formally withdrawn in February this year. 

ISO 55001 specifies requirements for establishing, implementing, maintaining and improving an organisation’s asset management system and can be applied to any organisation where physical assets are central to its business.

An ISO 55001 certificated asset management system (AMS) allows organisations to manage risk which helps to support business growth and improvement. It enables objective benchmarking of performance across all sectors, both public & private, regulated & unregulated and it allows improved financial performance without sacrificing short or long-term organisational performance.

The Lloyd’s Register group is the world leader in the provision of asset management assessment and certification services, certifying more than 60 organisations worldwide. 

Seeking feedback from clients, the consensus was that the challenging and robust methodology used in PAS 55 assessment led to significant business benefits for them, so it was decided to stick to this same methodology to deliver ISO 55001 assessment services. 

LRQA applied and was accepted onto the UKAS accreditation pilot assessment programme for ISO 55001 and in April this year, following an extensive audit by UKAS, we were awarded accreditation to ISO 55001:2014 for all 40 of our global offices. 

LRQA is the only certification body to hold a global scope of accreditation for ISO 55001:2014 and was one of the first certification bodies to be awarded accreditation against the standard.