ISO 37301
International certifiable standard for compliance management systems
ISO 55001
International standard for asset management systems
Quick Verdict
ISO 37301 establishes certifiable compliance management systems for ethical governance across sectors, while ISO 55001 delivers asset management systems optimizing lifecycle value in infrastructure-heavy industries. Companies adopt them for risk reduction, stakeholder trust, and operational excellence via integrated PDCA cycles.
ISO 37301
ISO 37301:2021 Compliance management systems – Requirements with guidance
Key Features
- Certifiable requirements standard replacing guidance-only ISO 19600
- High-Level Structure enables integration with ISO 9001, 14001, 27001
- Risk-based approach to compliance obligations and controls
- Leadership commitment fosters compliance culture and tone from top
- Mandatory confidential whistleblowing channels with anti-retaliation protections
ISO 55001
ISO 55001:2024 Asset management — Management systems — Requirements
Key Features
- Strategic Asset Management Plan (SAMP) requirement
- Annex SL structure for management system integration
- PDCA cycle for continual improvement
- Formal asset decision-making framework (2024)
- Risk and opportunity separation in planning
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
ISO 37301 Details
What It Is
ISO 37301:2021 is a certifiable international standard specifying requirements with guidance for Compliance Management Systems (CMS). It provides a systematic, risk-based framework applicable to all organization sizes and sectors, replacing guidance-only ISO 19600. Built on the Plan-Do-Check-Act (PDCA) cycle and High-Level Structure (HLS) for integration with other ISO standards.
Key Components
- Core clauses: context, leadership, planning, support, operation, performance evaluation, improvement.
- Emphasizes leadership commitment, risk assessment, whistleblowing protections, competence, monitoring, audits, and continual improvement.
- Supported by companion standards like ISO 37302 (effectiveness) and ISO 37303 (competence).
- Certification via accredited bodies like ANAB.
Why Organizations Use It
- Demonstrates third-party validated compliance to stakeholders.
- Mitigates regulatory risks, fines, and reputational damage.
- Builds integrity culture, supports ESG/SDGs.
- Enhances efficiency through integrated management systems.
Implementation Overview
- Phased approach: gap analysis, obligation register, controls, training, audits.
- Scalable for SMEs to enterprises; 3-year certification cycles.
- Global applicability with 2024 climate amendment.
ISO 55001 Details
What It Is
ISO 55001:2024 is the international standard specifying requirements for an Asset Management System (AMS). It provides a management system framework to establish, implement, maintain, and improve asset management, enabling organizations to realize value from assets across their lifecycles. The primary scope covers asset-intensive sectors, using a risk-based, PDCA (Plan-Do-Check-Act) approach aligned with Annex SL for integration with other ISO standards.
Key Components
- Clauses 4-10: Context, Leadership, Planning, Support, Operation, Performance Evaluation, Improvement.
- 72 mandatory 'shall' requirements.
- Core elements: Strategic Asset Management Plan (SAMP), decision-making framework, risk/opportunity management.
- Certification via accredited third-party audits.
Why Organizations Use It
- Drives cost optimization, risk reduction, regulatory compliance.
- Enhances reliability, stakeholder trust, competitive bidding.
- Supports ESG, resilience in utilities, infrastructure, manufacturing.
Implementation Overview
- Phased: gap analysis, SAMP development, process integration, training, audits.
- Applicable to all sizes, asset-heavy industries globally.
- Optional certification with surveillance audits. (178 words)
Key Differences
| Aspect | ISO 37301 | ISO 55001 |
|---|---|---|
| Scope | Compliance obligations, risks, culture, whistleblowing | Asset lifecycle management, value realization, SAMP |
| Industry | All sectors, sizes; global applicability | Asset-intensive sectors like utilities, infrastructure |
| Nature | Certifiable management system standard; voluntary | Certifiable AMS requirements standard; voluntary |
| Testing | Internal audits, management reviews, certification audits | Internal audits, KPIs, management reviews, certification |
| Penalties | Loss of certification, no direct legal penalties | Loss of certification, no direct legal penalties |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about ISO 37301 and ISO 55001
ISO 37301 FAQ
ISO 55001 FAQ
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