Development ISO 55000 Asset Management

From April 29 to May 3 2013, the fifth meeting if ISO working group PC 251 took place in Calgary, Canada. This ISO working group is developing a new standard on the area of asset management, ISO 55000.

Some of the important subjects during this meeting were:

• Consistent use of the word “risk”;
• The difference between physical and financial asset management;
• What diagrams to be placed in the standard;
• Differences between asset management and asset management system;
• Differences between lifespan and life cycle.

During this meeting, the relation with ISO/IEC TS 17021-5 Conformity assessment was also discussed. A standard that is developed on the initiative of PC 251 and has to make sure that, for one, certain requirements are set to parties that can assess whether an organization complies with ISO 55000.

At the end of the meeting, the result was a “Final Draft International Standard”, supported by the participants.

Publication of ISO 55000 is planned for the start of 2014.