New ISO Guidance: Asset Management or Managing Assets?

Convener of ISO/TC 251 Working Group 4, Jack Dempsey, has worked with the Institute of Asset Management chief executive, David McKeown, alongside Terrence O’Hanlon and Thomas Smith to produce a guidance article to promote clear conversations about asset management. The article clarifies a specific aspect of ISO 55001: Asset Management or Managing Assets?

Since the first invention of tools, mankind has been maintaining assets. However, it has only been a couple of decades since the formal emergence of asset management as a discipline. The discipline of asset management involves strategic approaches to whole life management of assets, with a focus on deriving value for organisations

Jack Dempsey takes the reader through the key differences between ‘managing assets’ and ‘asset management’, with a useful side-by-side comparison of the two ideas.

Read the article


TC251 is in the process of developing guidance articles that clarify and further document-specific aspects of the ISO 55000 series of standards. Further articles will be published on the TC251 page as they become available.