Overview

Guidance on applying an asset management system in accordance with the requirements of ISO 55001, with explanatory text and examples for every clause. A revision is in development.

ISO 55002:2018 gives guidelines for the application of an asset management system in accordance with the requirements of ISO 55001. It can be applied to all types of assets and by organizations of all types and sizes. Its purpose is to provide the explanatory text needed to clarify the ISO 55001 requirements and to give examples that support implementation. It explicitly does not provide guidance for managing specific asset types — it is about the management system, not about how to maintain a pump or a bridge.

Position in the ISO 55000 family. ISO 55000 provides the vocabulary, overview and principles; ISO 55001 contains the auditable requirements for an asset management system and is the certifiable document; ISO 55002 explains how to meet them. ISO 55002:2018 replaced ISO 55002:2014 and was substantially expanded, adding detailed guidance for every clause of ISO 55001 and clarifying how each requirement contributes to the four fundamentals of asset management — value, alignment, leadership and assurance.

Note on editions. ISO 55000 and ISO 55001 were both revised in 2024. ISO 55002:2018 was written against the 2014 edition of ISO 55001, and a revision of ISO 55002 is under development within ISO/TC 251 to realign the guidance with the 2024 requirements. Organizations implementing an asset management system today should work from ISO 55001:2024 for requirements and treat ISO 55002:2018 as guidance that remains largely applicable in substance but whose clause references may not line up with the current requirements standard.

What the guidance is most used for. The areas where practitioners lean on ISO 55002 most heavily are the strategic asset management plan (SAMP) and its relationship to organizational objectives; the derivation of asset management objectives from the SAMP; decision-making and prioritization of asset activities across competing needs; risk management applied to assets; and the demonstration of assurance to the governing body. It is intended for those establishing, implementing, maintaining and improving an asset management system, and also for those delivering asset management activities and for service providers.

Certification. ISO 55002 is guidance and is not certifiable. Third-party certification is available against ISO 55001. ISO 55002 is used during design and implementation of the system and during internal audit preparation to understand the intent behind each requirement. ISO 31000 provides complementary generic risk management guidance, and organizations frequently integrate the asset management system with ISO 9001, ISO 14001 and ISO 45001 systems.

Purpose

To explain the intent of ISO 55001 requirements and provide practical examples that help organizations establish, implement, maintain and improve an asset management system.

Key Benefits

• Clause-by-clause explanation of ISO 55001 requirements
• Links each requirement to the fundamentals of value, alignment, leadership and assurance
• Practical examples supporting implementation across asset types and sectors
• Helps prepare for ISO 55001 certification and internal audit
• Applicable to all types of assets and organizations of any size
• Useful for service providers delivering asset management activities

Key Requirements

• Note: this is a guidance standard supporting the requirements in ISO 55001. It covers:
• Understanding organizational context and interested party needs for asset management
• Developing the strategic asset management plan (SAMP)
• Deriving asset management objectives and plans from the SAMP
• Leadership, asset management policy, roles and responsibilities
• Risk and opportunity management applied to assets
• Resources, competence, awareness, communication and information requirements
• Operational planning, control and management of change
• Performance evaluation, internal audit and management review
• Nonconformity, corrective action and continual improvement

Who Needs This Standard?

Asset managers and asset management system owners, utilities, transport and infrastructure operators, manufacturing maintenance and reliability functions, organizations preparing for ISO 55001 certification, and consultants and service providers supporting asset management implementation.

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