- Project plans
- Project activities
- Legislation and standards
- Industry context
Last edited 06 Feb 2019
BS ISO 55000:2014 Asset management. Overview, principles and terminology
BS ISO 55000:2014 Asset management. Overview, principles and terminology, was published by the British Standards Institute (BSI) in January 2014.
British Standard (BS) publications are technical specifications or practices that can be used as guidance for the production of a product, carrying out a process or providing a service. ISO's (International Standard Organisation) are international standards intended to be used throughout the world. BS ISO's are published as Britain adopts ISO's.
BS ISO 55000:2014 was developed from PAS 55 Asset Management, which was published in 2004. Publicly available specifications (PAS) are fast-track standards, specifications, codes of practice or guidelines developed by sponsoring organisations, under the guidance of BSI, to meet an immediate market need. Within 2 years, they are reviewed to assess whether they should be revised, withdrawn, or whether they should become formal British Standards or international standards.
PAS 55 was one of the most popular standards of all time, recognised as '…a generically applicable definition of good practices in the optimized management of physical assets'. As a result, three British Standards were developed:
- BS ISO 55000:2014 'Asset management. Overview, principles and terminology'.
- BS ISO 55001:2014 'Asset management. Management systems. Requirements', specifying the requirements for an effective asset management system.
- BS ISO 55002:2014 'Asset management. Management systems. Guidelines for the application of ISO 55001', offering interpretation and guidance for asset management systems to be implemented.
BSI also published a free transition guide to help organisations move from PAS 55 to the BS ISO 55000 series.
BS ISO 55000 defines the concepts and terminology needed to develop a long-term asset management system incorporating corporate mission, values, objectives, policies and stakeholder requirements and can be used to prepare for third-party audits and certification against the standard.
The standard seeks to:
- Enable implementation of the key principles with clear direction and leadership.
- Achieve staff awareness, commitment and cross-functional coordination.
- Obtain information and knowledge of asset condition, performance, risks and costs.
The contents of the standard are:
- Asset management.
- Terms and definitions.
- Annex A (informative) Information on asset management activities.
- Annex B (informative) Relationship between key elements of an asset management system.
 Related articles on Designing Buildings Wiki
- BIM articles.
- BIM glossary of terms.
- BIM standards.
- BS 1192-4:2014.
- BS 7000-4:2013 Design management systems. Guide to managing design in construction.
- BS 8536-1:2015 Briefing for design and construction. Code of practice for facilities management (Buildings infrastructure).
- BS 8536-2:2016 Design and construction: Code of practice for asset management (Linear and geographical infrastructure).
- PAS 1192-2.
- PAS 1192-3.
- PAS 1192-5:2015 Specification for security-minded building information modelling, digital built environments and smart asset management.
- Whole Life Asset Performance.
Featured articles and news
Achieving air tightness in buildings.
What are the benefits of smart homes for Millennial end-users?
How dynamic briefing can result in an efficient project.
Achieving sustainable roads funding in England.
Your chance to comment on the draft BS 851188 - flood resistance products and flood protection products.
Rebuilding could take 20 to 40 years.
RSHP’s high-rise residential towers win a tall buildings award for excellence.
BSRIA study reveals strong growth in 2018.
Dame Judith Hackitt confirmed as keynote speaker – one year on from the Hackitt Report.
Save £100 on tickets.
Modern slavery in the construction sector.
What to bear in mind when claiming damages in construction.
How do we achieve sustainable clean-water infrastructure for all?