Knowledge Library

Implementing and Improving a Management System for Asset Management (Guide)

An essential resource for members

Once you have read the Anatomy and ISO 55000/1/2, what do you actually “do”?

Should you do asset management? What should you do first? How do you implement an asset management system? What about culture and people? How to approach external assessment? What to do about your supply chain? And so on…

This guide has been developed by the Institute of Asset Management (IAM) to provide guidance for organisations who manage physical assets, and who wish to put in place or improve an existing management system for asset management. A management system for asset management, with requirements defined in ISO55001, must be a disciplined approach that ensures the required organisational outcomes are achieved in a controlled and sustainable manner. It should not be confused with information or enterprise systems, although of course, these may form part of the management system. This guide is useful to organisations wishing to understand what asset management and how it may benefit them. It also provides practical guidance on how to go about embedding a management system – from the initial assessment of ‘where you are now’ through to developing and implementing practical solutions. The focus of this guide is to provide solutions that work and will deliver value. It also identifies pitfalls and the things to avoid and recognises that asset management does not exist in isolation.

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