Asset Management Systems

ISO 55001:2014
Offering independent assessment and certification

What is asset management?

ISO 55000 defines asset management as the ‘coordinated
activity of an organisation to realise value from assets’. In
turn, assets are defined as follows: ‘An asset is an item,
thing or entity that has potential or actual value to an
organisation’. This is deliberately wider than physical assets
but these form an important focus for more organisations.

Asset management involves the balancing of costs,

opportunities and risks against the desired performance
of assets, to achieve the organisational objectives.
This balancing might need to be considered over different
timeframes.

Asset management also enables an organisation to examine

the need for, and performance of, assets and asset systems
at different levels. Additionally, it enables the application
of analytical approaches towards managing an asset over
the different stages of its life cycle (which can start with the
conception of the need for the asset, through to its disposal,
and includes the managing of any potential post disposal
liabilities).
Asset management is the art and science of making
the right decisions and optimising the delivery of value.
A common objective is to minimise the whole-life cost of
assets but there may be other critical factors such as risk
or business continuity to be considered objectively in this
decision making.
Assurance
Asset management governance is the ability of an
organisation to ensure it is making the right investment
decisions and that those decisions will help achieve its
objectives. MMRA can help organisations by providing
an assessment of an Asset Management System capability
and provide PAS55/ISO 55000 certification. Our team
of Mott MacDonald Limited auditors has been granted
Endorsed Assessor status by the IAM. This certifies that
our team is highly experienced in asset management
and auditing. Our team also has extensive experience in
providing business plan and risk methodology assurance.
Asset Management Certification
The fundamentals of asset management and the supporting
Asset Management System are introduced in the suite of
ISO 55000 International Standards, which when integrated
into the broader governance and risk framework of an
organisation, can contribute tangible benefits and leverage
opportunities.
■■ BS ISO 55000 Asset Management Overview,
principles and terminology. This introduces the
critical concepts and terminology needed to develop
a long-term plan that incorporates an organisation’s
mission, values, objectives, business policies and
stakeholder requirements.
■■ BS ISO 55001 Asset Management Requirements.
This specifies the requirements for the establishment,
implementation, maintenance and improvement of an
asset management system.
■■ BS ISO 55002 Asset Management Guidelines on
the application of ISO 55001. This provides guidance
for the application of an asset management system,
in accordance with the requirements of ISO 55001.
Asset Management Certification
These Standards can help organisations of all
sizes and sectors to:
■■ Establish an asset management system to
optimally manage assets.
■■ Implement, maintain and improve an asset
management system.
■■ Comply with asset management policy and strategy.
■■ Demonstrate they’re applying best practise to others
■■ Seek certification of their asset management system
by an external organisation or make a self-declaration
of compliance.

Institute of Asset Managers (IAM)

Endorsed Assessors (EA)
MMRA uses Mott MacDonald Limited’s IAM endorsed
assessors to conduct assessment and certification. The
IAM understands that organisations can realise business
benefits from their assets through the development and
implementation of asset management (AM) systems that
conform to the requirements of ISO 55001.
Although organisations can implement AM systems by
themselves, there are benefits in using an independent
third party to assess the extent of conformance.
This can be:
■■ A gap analysis to understand the work which needs
to be done for the management system to conform
with all the requirements.
■■ If desired, when conformance to the requirements is
achieved, for this to be demonstrated by an assessor
issuing a certificate
Benefits ISO 55001 Certification
can offer you
Third party assessment and certification to the requirements
of ISO 55001 of a company’s Asset Management System
conveys confidence externally to customers, insurers and
suppliers that the necessary controls and provisions are
being correctly managed.
MMRA about us
MMRA, a member of the Mott MacDonald Group, was
established to provide independent assurance, inspection
and certification services. One of MMRA’s activities is
to assess, audit and certify Asset Management Systems
against the requirements of ISO 55001:2014.

Endorsement as an EA can cover assessment against

ISO 55001 for gap analysis and certification. The IAM
assesses applicants against the requirements of the
EA scheme, and if they are successful appoints them
to the status of Endorsed Assessor.

Contact us:

t +44 (0)20 7651 0613

e info@mmra-cert.com

Find out more on our website at: www.mmra-cert.com

NJ/05/15