AMCouncil AMBoK Team Member, Martin Kerr, represented the Asset Management Council at the ISO TC251 (ISO5500x) committee meeting in Amersfoort, The Netherlands 22nd to 26th October 2018.    

TC251 is a technical committee (TC) that looks after the ISO55xxx suite of documents. The committee is made up of several working groups, one of which is looking at review of ISO55002 and Annex SL under the auspice of Working Group 6, WG6.


ISO55002:2018 was officially released during the meeting 22nd to 26th October 2018.   All 26 countries voted in favour of the final draft (FDIS). The strength and depth of latest version of ISO55002 is how it was revised. Workgroup 6 (WG6) applied the following considerations to their work in order to address the many comments received from around the world since the release of the standard in 2014.

  • The consideration of “value” in asset management
  • The scope of an asset management system
  • The strategic asset management plan (SAMP)
  • Asset management decision making
  • Risk management in the context of ISO55001
  • The relationship between financial and non-financial functions in asset management
  • Scalability (small business)
  • Information on asset management activities.

Each of the above considerations are included as appendixes in ISO 55002:2018.

WG6 shifts its focus from ISO55002 to the structure of the Management System Standards also referred to as “Annex SL”. The ISO Joint Technical Coordination Group (JTCG) has requested 2 members from each of the main Management System Standards (i.e. Asset Management, Quality, Safety, Risk, Information Security, Environment and 14 others) to work together to discuss and challenge any proposed changes to the structure. This work effort is likely to be heavy and for this reason TC251 will share the load amongst those who have been working on the standard since PC251 (2012).

Visit the TC251 website for more information.