ISO 55001
International standard for asset management systems
ISO 26000
International guidance standard for social responsibility
Quick Verdict
ISO 55001 provides certifiable requirements for Asset Management Systems in asset-heavy industries, enabling value realization from assets. ISO 26000 offers non-certifiable guidance on social responsibility for all organizations, integrating 7 core subjects into governance and operations.
ISO 55001
ISO 55001:2024 Asset management — Management systems — Requirements
Key Features
- Requires Strategic Asset Management Plan (SAMP) linking strategy to operations
- Mandates formal asset decision-making framework defining value and criteria
- Follows Annex SL structure for integration with other management systems
- Applies PDCA cycle across Clauses 4-10 for continual improvement
- Separates risks and opportunities in integrated planning processes
ISO 26000
ISO 26000:2010 Guidance on social responsibility
Key Features
- Seven principles underpin all SR decisions
- Seven core subjects for holistic coverage
- Non-certifiable guidance for all organizations
- Stakeholder engagement drives prioritization
- Integrates with management systems like ISO 14001
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
ISO 55001 Details
What It Is
ISO 55001:2024 is the international certification standard specifying requirements for an Asset Management System (AMS). It enables organizations to realize value from assets across lifecycles by connecting decisions to objectives, balancing performance, risk, and cost. Built on a risk-based, PDCA methodology with Annex SL structure.
Key Components
- Clauses 4-10: Context, Leadership, Planning, Support, Operation, Performance Evaluation, Improvement.
- 72 'shall' requirements focused on SAMP, decision framework, risks/opportunities.
- Normatively references ISO 55000 for terminology; guidance in ISO 55002.
- Certification via accredited third-party audits.
Why Organizations Use It
- Drives operational resilience, cost optimization, regulatory compliance.
- Enhances governance, stakeholder trust in asset-heavy sectors like utilities, infrastructure.
- Manages risks (e.g., climate change), integrates with ISO 9001/14001.
- Provides competitive edge through certification and auditable decisions.
Implementation Overview
- Phased approach: gap analysis, SAMP development, competence building, KPI dashboards.
- Applies to asset-intensive organizations of all sizes; 12-24 months typical.
- Involves leadership commitment, data governance, outsourcing controls; optional certification with surveillance audits.
ISO 26000 Details
What It Is
ISO 26000:2010 is the international guidance standard on social responsibility (SR), providing a voluntary framework rather than certifiable requirements. Its primary purpose is to help organizations of all sizes and sectors integrate SR into governance, strategy, and operations through a holistic, stakeholder-driven approach focused on impacts, risks, and expectations.
Key Components
- **Seven core subjectsorganizational governance, human rights, labor practices, environment, fair operating practices, consumer issues, community involvement/development.
- **Seven principlesaccountability, transparency, ethical behavior, respect for stakeholder interests, rule of law, international norms, human rights.
- Built on multi-stakeholder consensus; non-certifiable model emphasizing self-assessment and transparent reporting.
Why Organizations Use It
- Enhances sustainability commitment, risk management, and stakeholder trust.
- Aligns with SDGs, OECD, GRI for credibility without compliance burdens.
- Drives resilience, reputation, and competitive edge via ethical practices.
Implementation Overview
- Phased: materiality assessment, stakeholder engagement, policy integration, training, reporting.
- Applicable universally; no certification, focuses on embedding into existing systems like ISO 14001/45001.
Key Differences
| Aspect | ISO 55001 | ISO 26000 |
|---|---|---|
| Scope | Asset Management Systems (AMS) requirements | Social responsibility guidance across 7 core subjects |
| Industry | Asset-intensive sectors (utilities, infrastructure) | All organizations, all sectors worldwide |
| Nature | Certifiable management system standard | Non-certifiable voluntary guidance |
| Testing | Third-party certification audits required | Self-assessment, no formal certification |
| Penalties | Loss of certification, no legal penalties | No penalties (reputational risks only) |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about ISO 55001 and ISO 26000
ISO 55001 FAQ
ISO 26000 FAQ
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