Curriculum
- 2 Sections
- 35 Lessons
- 26 Weeks
- ISO5500110
- 1.1Introduction to ISO55001 and Asset Management Systems
- 1.2Clauses 1–3 and Understanding Context in ISO55001
- 1.3Clause 4 – Context of the Organization
- 1.4Clause 5 – Leadership
- 1.5Clause 6 – Planning
- 1.6Clause 7 – Support
- 1.7Clause 8 – Operation and Asset Management Activities
- 1.8Clause 9 – Performance Evaluation
- 1.9Clause 10 – Improvement
- 1.10Practical Considerations for Lead Auditors
- ISO 19011: Guidelines for auditing management systems26
- 2.1Introduction to ISO19011
- 2.2Principles of Auditing
- 2.3Managing an Audit Program
- 2.4Establishing Audit Program Objectives
- 2.5Determining Audit Program Risks and Opportunities
- 2.6Establishing the Audit Program
- 2.7Implementing the Audit Program
- 2.8Monitoring the Audit Program
- 2.9Reviewing and Improving the Audit Program
- 2.10Initiating the Audit
- 2.11Determining Audit Feasibility
- 2.12Preparing Audit Activities
- 2.13Reviewing Documented Information
- 2.14Preparing the Audit Plan
- 2.15Assigning Work to the Audit Team
- 2.16Preparing Working Documents
- 2.17Opening Meeting
- 2.18Communication During the Audit
- 2.19Collecting and Verifying Information
- 2.20Generating Audit Findings
- 2.21Preparing Audit Conclusions
- 2.22Closing Meeting
- 2.23Preparing the Audit Report
- 2.24Completing the Audit
- 2.25Follow-Up Activities
- 2.26ISO55001 Exam120 Minutes40 Questions
Clause 6 – Planning
The Role of Planning in Asset Management
A critical element of Clause 6 is the establishment of asset management objectives. Auditors assess whether objectives:
⦁ Are consistent with the organization’s strategic goals and asset management policy
⦁ Are measurable, realistic, and time-bound
⦁ Address key performance indicators for critical assets, including reliability, availability, and lifecycle costs
⦁ Reflect a balance between risk, cost, and value
Auditors verify the presence of documented objectives and supporting evidence, such as operational plans, KPI dashboards, and management review reports. Objectives provide a clear roadmap for implementing and monitoring asset management activities effectively.
ISO55001 requires organizations to adopt a risk-based approach in planning. Clause 6 ensures that potential threats and opportunities affecting asset performance are identified and evaluated. Auditors focus on whether the organization:
⦁ Conducts comprehensive risk assessments covering operational, financial, environmental, and safety aspects
⦁ Identifies opportunities for improving asset performance and reducing lifecycle costs
⦁ Prioritizes risks and opportunities based on their potential impact and likelihood
⦁ Integrates risk assessment outcomes into planning, resource allocation, and decision-making
Auditors review risk registers, assessment reports, and evidence of risk treatment plans. Proper risk-based planning demonstrates that the organization can anticipate challenges, prevent failures, and optimize asset value.
Asset Management Plans
Clause 6 requires organizations to develop detailed asset management plans that translate objectives and risk assessments into actionable strategies. Auditors evaluate whether plans include:
⦁ Clear timelines, milestones, and responsibilities for asset-related activities
⦁ Processes for acquisition, operation, maintenance, renewal, and disposal of assets
⦁ Allocation of resources, including personnel, tools, and financial investments
⦁ Procedures for monitoring performance and addressing deviations
Effective asset management plans bridge the gap between strategic objectives and operational execution, ensuring that assets are managed consistently across the organization. Auditors confirm that plans are not only documented but also implemented and monitored in practice.
Consideration of Legal and Regulatory Requirements
ISO55001 emphasizes that planning must account for legal, regulatory, and contractual obligations. Auditors examine whether the organization:
⦁ Maintains up-to-date knowledge of applicable laws and regulations
⦁ Incorporates compliance requirements into asset management objectives and plans
⦁ Monitors adherence to obligations and addresses non-compliance proactively
Compliance integration ensures that the AMS supports legal accountability, operational safety, and stakeholder trust. Auditors verify this through regulatory compliance reports, inspection records, and documented corrective actions.
Clause 6 also requires consideration of resources and capabilities needed to achieve objectives. Auditors assess whether:
⦁ Personnel with appropriate competence are assigned to critical asset management activities
⦁ Training and development programs are planned to close competency gaps
⦁ Resources, including technology, tools, and budget, are sufficient for planned asset activities
Adequate resource planning ensures that objectives are realistic, achievable, and sustainable. Auditors review staffing plans, training records, and financial allocations as evidence of effective resource management.
When auditing Clause 6, key focus areas include:
⦁ Documented asset management objectives aligned with strategy and policy
⦁ Risk and opportunity assessment processes, including prioritization
⦁ Detailed asset management plans covering responsibilities, resources, and timelines
⦁ Integration of legal, regulatory, and compliance requirements
⦁ Evidence that objectives and plans are implemented, monitored, and updated
Auditors must confirm that the organization demonstrates proactive planning, risk awareness, and alignment with strategic goals, forming a foundation for operational control and performance evaluation.