ISO 55000

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Asset management supports the realisation of value from the use of assets, while being able to demonstrably achieve an agreed balance of the likely cost, the resultant risk, and expected asset performance. For example, if the organisation cannot afford the likely cost, then a commensurate reduction in performance and an increase in risk may result. The understanding of how those movements occur and the ability to predict those is a key role for asset management.

Exactly what constitutes value will depend on the organisational objectives, the nature and purpose of the organisation, and the needs and expectations of its stakeholders. And what constitutes an acceptable risk is also a function of the organisation’s values.This International Standard specifies the requirements for the establishment, implementation, maintenance and improvement of a management system for asset management

Capability Partners, Excellence In Asset Management
Capability Partners, Excellence In Asset Management
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