Last edited 12 Dec 2024

Management system

Asset Management – an anatomy, Version 4, published by The Institute of Asset Management in July 2024, defines a management system as a: ‘set of interrelated or interacting elements of an organization to establish policies and objectives as well as processes to achieve those objectives Notes: (1) A management system can address a single discipline or several disciplines. (2) The management system elements include, among others, the organization’s structure, roles and responsibilities, planning and operation. (3) This constitutes one of the common terms and core definitions for ISO management system standards given in Annex SL of the Consolidated ISO Supplement to the ISO/IEC Directives, Part 1. It has been modified by the addition of “among others” in Note 2 to entry.’

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