PAS 55 and ISO 55001 – The Main Differences

Moving from PAS 55 to ISO 55001? The transition should not be difficult.

The content and structure of ISO 55001 were derived from PAS 55-1. The two are very similar. However, there are quite a few differences in requirements; though some are minor. These are the main differences:

1. Context of the Organisation

Identify the external and internal issues relevant the organisation’s purpose and that affect its ability to achieve the intended outcome(s) of the asset management system.

Ensure asset management objectives are aligned to and consistent with the organisational objectives.

2. Stakeholder Needs and Expectations


  • Stakeholders that are relevant to the asset management systems and their requirements and expectations with respect to asset management
  • Criteria for making decisions on asset management
  • Stakeholder requirements for recording information relevant to asset management and reporting it internally and externally

3. Asset Management Objectives

Consider relevant requirements of stakeholders (as well as other requirements) when setting asset management objectives.

Ensure that asset management objectives are consistent with the Asset Management Policy and organisational objectives.

Use the asset management decision making-criteria (see Item 2 above) when setting and updating asset management objectives.

4. Planning to Achieve Objectives

When planning how to achieve asset management objectives, determine and document:

  • Method and criteria for decision making and prioritising activities and resources
  • Processes and methods for managing assets over their life cycles

5. Operational Planning and Control

Clearer emphasis on using the following when planning and implementing processes:

  • Criteria for the required processes
  • Applying controls in accordance with the set criteria
  • Treating and monitoring risks

6. Outsourcing

Assess the risks associated with outsourcing.

Monitor the performance of outsourced activities.

7. Monitoring, Measurement, Analysis and Evaluation

Clarifies the areas to be evaluated and reported on. They include:

  • Asset performance
  • Asset management performance (financial and non-financial)
  • Effectiveness of the asset management system


  • How and what to monitor
  • When to monitor and also when results of monitoring and measurement must be analysed and reported
  • Evaluate and report on the effectiveness of processes for managing risks and opportunities.

8. Management Review

Some amendments to the required inputs to management review e.g. now includes a review of changes to the profile of risks and opportunities

The above are the main changes. There are others which are significant and some changes which are subtle. For advice on addressing all of the changes – Contact Us.