The IAM is delighted to have worked with the British Standards Institution (BSI) to launch the new asset management standards, ISO 55000. The launch event took place in London on 5 February at the Royal College of Surgeons, with an exciting collaborative seminar led by asset management professionals from many different industries.
"The Institute of Asset Management is proud of the success of PAS55 over the last decade, and for instigating and supporting the development of ISO55000." - Stephen Morris.
Over the last 10 years, the IAM and BSI are proud to recognise that PAS 55 became the default global standard for asset management. Building on this achievement, the IAM initiated a three-year project to produce an ISO. We have been delighted by the enthusiastic and wide-ranging contribution to this work.
The new ISO 55000 series is a set of three international standards (55000/1/2). The standards represent a global consensus on asset management and what it can do to increase value generated by any organisation.
"Asset management has proven to be a significant benefit in securing broad and cost effective insurance protection. Its adoption will benefit all businesses who apply the new ISO55000 standard by reducing their total cost of risk, both insured and uninsured." - Mark Courtneidge.
To mark the publication of the new standards on 15 January 2014, we held an all-day joint event with BSI. After a morning of introductory discussions and refreshments, we moved onto the in-depth seminar, ‘The Significance of ISO 55000’.
Speakers: ‘The Significance of ISO 55000’ Seminar
- Stephen Morris, President of the IAM, Event Chairman
- Terry Hill, President of ISO
- Scott Steedman, Director of Standards, BSI
- John Woodhouse, Managing Director, The Woodhouse Partnership
- Navil Shetty, Director & Technical Chair for Asset Management, Atkins
- Rhys Davies, President, eAsset Management
- Chris Lloyd, Managing Director, CAS
- David Wright, Director Electricity Transmission Asset Management, National Grid
- Keith Hamer, Group VP Engineering and Asset Management, Sodexo
- Mark Courtneidge, Director Project Finance & Construction, Aon
- Ingo Aghte, Partner, McKinsey & Company
John Woodhouse took us through the asset management discipline and background of PAS 55, before explaining how it was developed to form ISO 55000. We heard from Navil Shetty about the benefits of asset management, before Rhys Davies spoke about the transition to the international standard for asset management. Chris Lloyd moved us towards the future, exploring the opportunities and challenges that organisations will face when incorporating ISO 55000.
This exciting event illustrated our belief at the IAM that asset management will increasingly become the best means of harnessing and integrating all the activities within an organisation to achieve its purpose most effectively and economically.
"ISO55000 can be a game changer for both supplier and client, and not only for asset-intensive organisations. Asset Management as a strategic context can enable huge benefits for major global organisations in managing out-sourced activities.” - Keith Hamer.
Watch the Launch event
Find out more
Discover ISO 55000 and what asset management means for your professional development. IAM members can receive a copy of ISO 55000 with a member discount.
About ISO 55000
Thanks to our sponsors
We wish to thank our sponsors, CGI and Ventyx, who supported this launch event and the development of asset management: