ISO 55001:2014 – Withdrawn & ISO 55001:2024 Published. Are you aware of the changes made in ISO 55001:2024?
The differences between ISO 55001:2024 and ISO 55001:2014 are many. Many of the changes are minor and will have a limited impact on those organizations that have already certified or aligned with the requirements of the 2014 framework.
Introduction
- ISO 55001:2024 incorporates higher-level principles relating to Asset Management.
- There is now the inclusion of the terms and definitions of all of the key terms for aiding and understanding the language of the standard and requirements.
Minor wording changes
Clause 4.1 – Understanding the organisation and its context
Clause 4.1: The previous version ISO 55001:2014 stated:
The organization shall determine external and internal issues that are relevant to its purpose and that affect its ability to achieve the intended outcome(s) of its asset management system.
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This has been amended in ISO 55001:2024 to read:
The organization shall determine external and internal issues that are relevant to its purpose and that affect its ability to achieve the intended result(s) of its asset management system.
Clause 4.2 – Understanding the needs and expectations of stakeholders
Clause 4.2: the previous version ISO 55001:2014 stated:
The organization shall determine:
a) the stakeholders that are relevant to the asset management system;
b) the requirements and expectations of these stakeholders with respect to asset management;
– – – – – – – – – –
This has been amended in ISO 55001:2024 to read:
The organization shall determine:
a) the stakeholders that are relevant to the asset management system;
b) the relevant requirements of these stakeholders;
c) which of these requirements will be addressed through the asset management system;
The subtle changes are intended to emphasise that not all stakeholder requirements need to be addressed through the Asset Management system. An organization now can decide whether or not these needs will be addressed through the Asset Management System.
Requirements that have moved to different clauses in ISO 55001:2024
Clause 4.4 – Asset Management System
The requirement to develop an asset management plan has been moved to a more logical location in a new Clause 6.2.1 in ISO 55001:2024.
Clause 8.2 – Management of Change
Clause 8.2 of ISO 55001:2014, incorporated a requirement to assess the risks associated with any planned change prior to that change being made.
This requirement has now been moved within the Planning clauses and a new Clause 6.3 in ISO 55001:2024 now contains this requirement, together with a requirement to ensure that where a need for changes has been identified, that changes are carried out in a planned manner.
Requirements that have been removed in ISO 55001:2024
ISO 55001:2024 requirements are more “outcome” focused rather than specifying how those outcomes are to be achieved.
Requirements that no longer exist in ISO 55001:2024 include the following:
Clause 4.2 – Understanding the needs and expectations of stakeholders
Clause 4.2 of ISO 55001:2014 included a requirement for the organization to determine stakeholder requirements for recording and reporting on financial and non-financial information relevant to asset management.
This requirement no longer exists, however, it is assumed that this is now covered under the more general requirement to understand stakeholder requirements with respect to asset management.
Clause 5.2 – Asset Management Policy
An organization’s Asset Management Policy Clause 5.2 of ISO 55001:2024 no longer includes the following requirements:
- To be consistent with the organisational plan.
- To be appropriate to the scale and nature of the organisation’s assets and operations.
- To be implemented, periodically reviewed and, if necessary, updated.
Clause 9.3, relating to the requirements for periodic Management Review of the Asset Management system, will capture the need to review and update the Asset Management Policy.
Additional Requirements in ISO 55001:2024
Significant new requirements in ISO 55001:2024:
Clause 4.5 – Decision-Making Framework
This requires the organization to have established and implemented a decision-making framework that is appropriate to the type, size and complexity of the organiszation.
This clause also requires the organization to use this framework to, define what “value” means to it, and to define the decision-making “criteria” to be used to deliver that value.
The term “criteria” is not defined in ISO 55000:2024. This is open to interpretation.
This clause specifies the factors that should be considered when defining the decision-making criteria. This includes the potential impact of the decision being made, the complexity of the decision, etc.
Clause 6.1 – Actions to Address Risks and Opportunities
In addition to introducing a clause (6.1.1) that covers the general requirements relating to planning for the Asset Management system (that includes requirements that were previously included in other clauses within ISO 55001:2014), the major difference is that planning for actions to address risks is now covered separately (in clause 6.1.2) to planning for actions to address opportunities (in clause 6.1.3).
Clause 6.2.1 – Strategic Asset Management Plan (SAMP)
- There is an introduction to a new clause in ISO 55001:2024 relating specifically to the SAMP.
- Clause 6.2.1 contains different, and more explicit, requirements with respect to the SAMP.
- This will support the understanding of the requirements, intent and considerations of contents for SAMP.
- The contents of the SAMP are now accepted to be spread across multiple documents.
- SAMP requirements are that it “contains the strategies and approaches for decision-making and the implementation and alignment of asset management activities”.
- The SAMP must now contain the asset management decision-making framework.
- The SAMP must be retained as “documented information”.
Clause 6.3 – Planning of Changes
A new clause has been introduced in ISO 55001:2024 requiring changes to be carried out in a planned manner, and for the risks associated with changes that could impact on the achievement of Asset Management Objectives to be assessed prior to making those changes.
Clause 7.2 – Competence
Organizations must undertake competence assessments to assess whether the required competences remain valid and are available.
Periodic review of competences are required that may warrant a formal process.
Clause 7.6 – Data and Information
This clause relating to data and information, has been moved from Clause 7.5 in the previous version of the standard.
In ISO 55001:2014 there was a general requirement for an organisation to “determine its information requirements to support its assets, asset management, asset management system and the achievement of its organizational objectives”, the requirements are much more specific, and include, amongst other things, the need to:
- determine the data and information needed to support asset management.
- establish data and information specifications.
- develop a plan for the collection, integration, quality improvement, and sharing of data and information.
ISO 55001:2024 Continual Improvement
Clause 7.7 – Knowledge
This clause recognizes that knowledge is different from data and information, and that knowledge is an essential prerequisite for competence. Organizational competence is essential if the organisation is going to achieve its objectives.
There are requirements to periodically review the knowledge required, dispose of outdated knowledge, and acquire and utilize any new knowledge requirements.
Clause 8.3 – Externally provided processes, products, technologies and services
The significant change in this clause is that it now embraces not only externally purchased services, but also externally provided processes, technologies, products and activities that could impact on the achievement of asset management objectives.
Organizations will need to be able to demonstrate to having adequate controls in place for purchased services and that they have appropriate specifications in place for products that they purchase that could impact on the achievement of asset management objectives.
Clause 9.3 – Management Review
There are two additional requirements associated with Management Review.
- Management review must include evaluation of the effectiveness of the decision-making framework.
- Management review must include opportunities for continual improvement.
Clause 10.3 – Predictive Action
This has been renamed in ISO 55001:2024 from “Preventive Action” in the 2014 version.
ISO 55001:2014 only required organisations to proactively identify potential failures in asset performance and evaluate the need to preventive action to address these.
ISO 55001:2024 requires the inclusion and consideration of potential failures not only of asset performance, but of assets, asset management and the asset management system.
Other more detailed requirements are now to be considered regarding the items to be considered when predicting and addressing potential failures in all these elements, including:
- the potential frequency and impact of those failures/non-conformities.
- the inputs required to determine the relationship between asset condition and the delivery of value (cost, performance, opportunity and risk).
- the optimal intervention points to maximise value such as those relating to maintenance, renewal and disposal of assets.
There is a significant requirement for the detail required to demonstrate conformity with these requirements compared with the previous requirements.
Increased focus on achieving desired results
In ISO 55001:2024, in addition to Clause 5.1 (e) there have been other requirements added across the framework of the standard requiring the organization to not only take some action, but also to assess the effectiveness of the action(s) that it took in order to determine whether those actions led to the desired outcomes.
