6 Myths about ISO 55001 Certification you Need to Debunk

by Isabel Blamey Professional writer

Summary

We have talked about a number of ISO certifications previously. In this article, we are going to discuss ISO 55001. Most of the people have some common myths about this standard. This article will help them explore the truth behind the myths.

Assets are the foundation of an organization that enables it to meet its business goals. Regardless of the type of asset, public or private, physical, economic, or human, effective asset management escalates the value-for-money. This process is likely to employ:

• Coordinated and optimized planning

• Asset selection

• Development and expansion

• Utility

Since asset management is a complex amalgamation of all of the operations stated above, the businesses require a standard that can help them streamline the operations. The International Organization for Standardization has come up with an internationally recognized ISO certification that can help the businesses manage their assets in the best possible way.

What is this certification? ISO 55001 Asset Management System Certification. Let’s have a quick look at a formal definition of this certification.

ISO 55000 series is made of three standards. These are:

• ISO 55000-This standard defines asset management along with the relevant terms and definition.

• ISO 55001- This standard states the requirements and specifications of an efficacious asset management system.

• ISO 55002- It provides the organisations with a guideline required for the implementation of the asset management system.

Well, it is clear that ISO 55001 standard defines how to develop an asset management system and maintain it for gaining all of its benefits. Now, let’s head towards our main discussion- six myths about ISO 55001 certification that the businesses must debunk immediately.

Myth1#

Only an accredited certification body can certify an organisation

This is not true. In various countries, National Accreditation Bodies authorize certifications bodies. These schemes need to be merged with the objectives designed for ISO 17021 series of standards. However, there are many other methods, such as IAM Endorsed Assessor Scheme. This scheme includes gap analysis, maturity, and ISO 55001 certification audits.

Myth2#

The organisation should own assets for obtaining ISO 55001

This is another myth that must be debunked. In many cases, the assets are owned not by the organisation but by the third parties, such as banks, finance funds etc. Sometimes, the franchisees are given the assets in the form of lease. However, in both of the cases, the organisation should guide the third party or the franchisees in the right manner. These third parties should be trained to manage the asset using life cycle methods, for instance, the investment and maintenance of the asset. Therefore, it is not true the assets must be possessed solely by the organisation.

Myth3#

Maintenance or facility managers should have this certification

Well, this is partially true if not the full truth. Organizations, which are willing to achieve this ISO certification, must acts as the “guiding force” for the life cycle investment and maintenance of the assets. What challenge is how the assets should be defined? For instance, a facilities maintenance company (third party) that is responsible for the maintenance of a facility, could not achieve the certification. If the same facilities management company was assigned for the development of the strategic and asset management plan, then it is possible for them to be certified.

Myth4#

Software should be certified to ISO 55001

Nowadays, information is buzzing the industry that software can be compliant with the ISO 55001 Standard. However, it might be true for a couple of scopes only. An organisation can employ software for making the operations a bit easier and gaining the compliance without any hassle, the software cannot be ISO 55001 certified.

Myth5#

Only organisations that manage physical assets can get certified

ISO 55001 explains why an asset is considered an “item, thing, or entity that has potential or actual value to an organisation.” Hence, any organisation that meets the asset management requirements of ISO 55001 standard can achieve the certification.

Myth6#

All the assets of an organisation must be included in the scope of its “Asset Management Plan” to get the certification

This is not true at all. An organisation is allowed to decide the specifications of the scope and still, this organisation can achieve the certification. It is important to meet all the requirements of ISO 55001 to get the certification.

Apart from these, there are two other myths, such as

• The scope should not cover multiple organisations

• ISO 55001 can make an organization a world leader in asset management

Now when you know the truth, what are you waiting for? Bid adieu to these myths!

Author Bio

Damon Anderson has years of experience in ISO industry and presently he is enjoying retired life. Blogging is his current passion. He has penned down a pile of blogs on ISO certification. His most popular blogs cover ISO 55001 certification, ISO 9001 certification, ISO 14001 certification etc.