---
title: An update on the ISO 55000 series on asset management
description: "The ISO 55000 series on Asset Management was published in 2014. It comprises: Overview, principles and terminology; Management System – Requirements; and Management systems - Guidelines on the applica"
---

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# [An update on the ISO 55000 series on asset management](https://www.awa.asn.au/resources/latest-news/business/assets-and-operations/an-update-on-the-iso-55000-series-on-asset-management)

 Written by [Water Source](https://www.awa.asn.au/resources/latest-news/author/admin) | Jun 5, 2019 1:37:58 AM

##### By Tom Carpenter and Geoff Hales.

### <https://static.hsstatic.net/BlogImporterAssetsUI/ex/missing-image.png>

The ISO 55000 series on Asset Management was published in 2014.

It comprises:

- ISO 55000 Asset management – Overview, principles and terminology
- ISO 55001 Asset management – Management System – Requirements
- ISO 55002 Asset management – Management systems - Guidelines on the application of ISO 55001

Geoff Hales, chairman of the Australian Water Association’s [Asset Management Specialist Network](http://bit.ly/AssetManagementSN), said the standards have been well recognised internationally and in Australia, with extensive implementation to various degrees.

# Revision of ISO 55002

In 2018, a revised version of ISO 55002 was released. This included: clarification of the contribution of each requirement to the four ’fundamentals’ of asset management (value, alignment, leadership and assurance); and how to apply the requirements of ISO 55001 to the key domains of asset management (asset portfolio, asset management system and asset management activities).

<https://static.hsstatic.net/BlogImporterAssetsUI/ex/missing-image.png>

# Proposed future development of the ISO 55000 series

There is a potential revision of the ISO 55000 series being considered for 2021-2023.

ISO/TC251 is the ISO Technical Committee for Asset Management responsible for the development of the ISO 55000 family of standards. Tom Carpenter, a member of the Asset Management Specialist Network, is also a member of the ISO/TC251committee. He advised the group’s future work program plans to address the following subjects:

- Guidance on ISO55001 auditing
- Life cycle management of intangible assets
- Asset management and managing assets, standard and practice
- Life cycle management and AMS
- Consequences of climate impact
- Asset management maturity
- Leadership
- Integration of management systems
- Information management/decision-making criteria
- Measurement framework
- Outsourcing and certification
- Asset register
- Value

If you have any queries about the ISO 55000 series, please contact [Tom Carpenter](mailto:Tom@iq-am.com.au) or [Geoff Hales.](mailto:ghales@barnewall.com.au)

*This article was written on behalf of the AWA’s Asset Management Specialist Network.*

[View full post](https://www.awa.asn.au/resources/latest-news/business/assets-and-operations/an-update-on-the-iso-55000-series-on-asset-management)

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