Realise Business Value by Managing Organisational Assets in a Coordinated Manner

ISO 55001 is an internationally recognised standard that describes an Asset Management System (AMS) that will help your business to proactively manage the lifecycle of assets that have potential or actual value to your organisations, from acquisition to decommission. The AMS helps your organisations to manage and balance the risks and costs associated with owning assets in a structured and efficient manner that support continual improvement and ongoing value creation.

 

ISO 55001 defines the requirement for an AMS, in the same way as ISO/IEC 9001 specifies a Quality Management System and ISO/IEC 27001 specifies an Information Security Management System. ISO 55001 will provide you a framework to optimise value whilst ensuring that your assets meet necessary safety and performance requirements. 

An AMS provide a structure, best practice approach to managing the lifecycle of assets of your organisations. In addition, by achieving the ISO 55001 certification, this will help you and your organisations to realise the following benefits:

  • Reduced risks associated with the ownership of assets
  • Improve quality assurance for customer and/or regulators
  • Improved stakeholders' confidence from a strategy for ensuring assets to meet necessary internationally recognised standards and requirements
  • Improved service and organisational sustainability
  • Capable of objective benchmarking of performance across all sectors, both public and private
  • Well demonstrating individuals and organisations to achieve a high degree of professionalism in the optimised management of assets 
  • Improve financial performance that leads to preservation of asset value
  • Enhanced reputation through compliance

What is the ISO 55001 certification?

PECB LogoISO 55001 (Asset Management Systems) is an international standard that helps organisations establish, implement, maintain and improve an Asset Management System (AMS). An ISO 55001 certified AMS allows organisations to manage risks thereby helping to support business growth and sustainable improvement. ISO 55001 also enables objective benchmarking of performance across all sectors, both public and private, regulated and unregulated, and allows improved financial performance without sacrificing short- or long-term organisational performance.

Target Audience

The ISO/IEC 55001 certification is designed for candidates:

  • who are senior managers or senior consultants responsible for the AMS of an enterprise;
  • who are portfolio managers, programme managers, project manager or senior consultants wanting to master the implementation process of an AMS;
  • who are auditors wanting to perform and lead the audit process of an AMS;
  • who are staff members wanting to gain a comprehensive knowledge of the main processes of an AMS;
  • who are experts responsible for providing advice about asset management.

Course Outline

ISO/IEC 55001 Introduction

PECB ISO/IEC 55001 Introduction

This one-day course enables participants to get familiar with the basic concepts of the implementation and management of an Asset Management System (AMS) as specified in ISO 55001.
Participants will learn different components of an AMS, including AMS policy, risk management, outsourcing management, measuring performance, management’s commitment, internal audit, management review and continual improvement.

  • Introduction to the ISO 55000 standards family
  • Introduction to management systems and the process approach
  • Introduction to fundamentals of Asset Management
  • General requirements: presentation of the clauses 4 to 8 of ISO 55001
  • Implementation phases of the ISO 55001 framework
  • Continual improvement of asset management
  • Conducting an ISO 55001 certification audit

ISO/IEC 55001 Foundation

PECB ISO/IEC 27001 Foundation

This two-day course enables participants to learn about the best practices in Asset Management as specified in ISO 55001. Participants will learn the essential concepts and processes that are considered most effective in asset management. This training will enable participants to understand the required expertise to support an organisation in establishment, implementation, maintenance and improvement of the Asset Management System (AMS) based on ISO 55001:2014. This course also helps participants develop the understanding of how ISO 55001 and ISO 55002 are related.

  • Introduction to the ISO 55000 family of standards
  • Introduction to management systems and the process approach
  • Fundamental principles of asset management
  • General requirements: presentation of the clauses 4 to 8 of ISO 55001
  • Implementation phases of ISO 55001 framework
  • Continual improvement of Asset Management
  • Conducting an ISO 55001 certification audit
  • Definition of the information and documentation management process
  • Design of asset management controls and drafting of specific policies & procedures
  • Monitoring, reviewing and continuous improvement
  • Communication plan, training and awareness plan, operations management
  • ISO 55001 Foundation exam, covering 2 domains:
    • Domain 1: Introduction to Asset Management System (AMS) concepts as required by ISO 55001
    • Domain 2: Information requirements, documentation, controls, and communication

ISO/IEC 55001 Lead Auditor

PECB ISO/IEC 27001 Lead Auditor

This five-day intensive course enables participants to develop the needed expertise to audit a project and to manage a team of auditors by applying widely recognised audit principles, procedures and techniques. During this course, participants will acquire the necessary knowledge and skills to proficiently plan and perform internal and external audit in compliance with ISO 19011 and ISO 17021 standards. Based on practical exercises, the participants will develop the skills (mastering audit techniques) and competencies (managing audit teams and audit program, communicating with customers, conflict resolution, etc.) necessary to efficiently conduct an audit.

Day 1: Introduction to asset management and ISO 55001

  • Normative, regulatory and legal framework related to asset management
  • Fundamental principles of asset management
  • ISO 55001 certification process
  • Asset Management System (AMS)
  • Detailed presentation of the clauses 4 to 8 of ISO 55001

Day 2: Planning and Initiating an ISO 55001 Audit

  • Fundamental audit concepts and principles
  • Audit approach based on evidence and on risk
  • Preparation of an ISO 55001 certification audit
  • AMS documentation audit
  • Conducting an opening audit

Day 3: Conducting an ISO 55001 Audit

  • Communication during the audit
  • Audit procedures observation, document review, interview, sampling techniques, technical verification, corroboration and evaluation
  • Audit test plans
  • Formulation of audit findings, drafting of non-conformity reports

Day 4: Concluding and Ensuring the Follow-up of an ISO 55001 Audit

  • Audit documentation
  • Quality review
  • Conducting a closing meeting and conclusion of an ISO 55001 audit
  • Evaluation of a corrective action plans
  • ISO 55001 surveillance audit and audit management program

Day 5: Certification Exam

The ISO 55001 Lead Auditor exam covers the following domains:

  • Domain 1: Fundamental principles and concepts of Asset Management
  • Domain 2: Asset Management System (AMS)
  • Domain 3: Fundamental audit concepts and principles
  • Domain 4: Preparation of an ISO 55001 audit
  • Domain 5: Conduct of an ISO 55001 audit
  • Domain 6: Closing an ISO 55001 audit
  • Domain 7: Managing an ISO 55001 audit program

ISO/IEC 55001 Lead Implementer

PECB ISO/IEC 27001 Lead Implementer

This five-day intensive course enables participants to develop the necessary expertise to support an organisation in establishment, implementation, maintenance and improvement of the Asset Management System (AMS) based on ISO 55001:2014. This training is consistent with the project management practices established in ISO 10006 (Quality Management Systems - Guidelines for Quality Management in Projects), and is also fully compatible with ISO 55002 (Guidelines for the implementation of an AMS). This course can be used by any organisation, which will determine its assets that will include in the system scope.

Day 1: Introduction to ISO 55001 and Initiation of an AMS

  • Course objective and structure
  • Standard and regulatory framework
  • Asset Management System (AMS)
  • Fundamental principles of assets management
  • Initiating the AMS implementation
  • Understanding the organisation and clarifying the Assets Management objectives
  • Analysis of the existing management system

Day 2: Planning the Implementation of an AMS based on ISO 55001

  • Leadership and approval of the AMS project
  • Defining the scope of an AMS
  • Drafting policies for asset management
  • Selection of the approach and methodology for risk assessment
  • Definition of the organisational structure of asset management

Day 3: Deploying the AMS

  • Definition of the Information Management process
  • Definition of the document management process
  • Design of asset management controls and drafting of specific policies and procedures
  • Communication plan
  • Training and awareness plan
  • Operations management of an AMS

Day 4: AMS Measurement, Continuous Improvement and Preparation for Certification Audit

  • Monitoring, measurement, analysis and evaluation
  • Internal audit
  • Management review of an AMS
  • Treatment of problems and non-conformities
  • Implementation of a continual improvement program
  • Preparing for an ISO 557001 certification audit
  • Competence and evaluation of implementers
  • Closing the training

Day 5: Certification Exam

The ISO 55001 Lead Implementer exam covers the following domains:

  • Domain 1: Fundamental principles and definitions in Asset Management
  • Domain 2: Guidance on Asset Management best practices based on ISO 55001
  • Domain 3: Planning a AMS based on ISO 55001
  • Domain 4: Implementing an AMS based on ISO 55001
  • Domain 5: Performance evaluation, monitoring and measurement of an AMS based on ISO 55001
  • Domain 6: Continual improvement of an AMS based on ISO 55001
  • Domain 7: Preparing for an AMS certification audit

ISO 55001 Exam Format

 ISO 55001 FoundationISO 55001 Lead AuditorISO 55001 Lead Implementer
Question TypeEssay; short and long questionsEssay; short and long questionsEssay; short and long questions
No. of Questions41212
Duration60 minutes3 hours3 hours
Passing Score (%)70%70%70%

Requirements for ISO 55001

Participant(s) can apply for the ISO 55001 certification(s) if the following requirements are fulfilled.

CredentialExamProfessional ExperienceManagement System Audit / Assessment ExperienceISMS Project ExperienceOther Requirements
ISO 55001 FoundationPECB Certified ISO 55001 Foundation Exam or equivalentNoneNoneNoneSigning the PECB code of ethics
ISO 55001 Provisional AuditorPECB Certified ISO 55001 Lead Auditor Exam or equivalentNoneNoneNoneSigning the PECB code of ethics
ISO 55001 AuditorPECB Certified ISO 55001 Lead Auditor Exam or equivalentTwo years: One year of Asset Management work experienceAudit activities totalling 200 hoursNoneSigning the PECB code of ethics
ISO 55001 Lead AuditorPECB Certified ISO 55001 Lead Auditor Exam or equivalentFive years: Two years of Asset Management work experienceAudit activities totalling 300 hoursNoneSigning the PECB code of ethics
ISO 55001 Provisional ImplementerPECB Certified ISO 55001 Lead Implementer Exam or equivalentNoneNoneNoneSigning the PECB code of ethics
ISO 55001 ImplementerPECB Certified ISO 55001 Lead Implementer Exam or equivalentTwo years: One year of Asset Management work experienceNoneProject activities totalling 200 hoursSigning the PECB code of ethics
ISO 55001 Lead ImplementerPECB Certified ISO 55001 Lead Implementer Exam or equivalentFive years: Two years of Asset Management work experienceNoneProject activities totalling 300 hoursSigning the PECB code of ethics
ISO 55001 MasterPECB Certified ISO 55001 Lead Auditor Exam or equivalent and PECB Certified ISO/IEC 27001 Lead Implementer Exam or equivalentTen years: Six years of Asset Management work experienceAudit activities totalling 500 hoursProject activities totalling 500 hoursSigning the PECB code of ethics

"The whole is more than the sum of its parts."

~ Aristotle

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