What is the foundation of ISO 55000?

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Multiple Choice

What is the foundation of ISO 55000?

Explanation:
Asset management under ISO 55000 is treated as a strategic, enterprise‑wide activity. Its foundation is the organization’s business and management framework—the policy, governance, planning, risk management, and performance measurement that align asset decisions with the organization’s strategic objectives. This approach ensures value is created from assets over their life cycle by balancing cost, risk, and performance to support overall goals. While people and culture, technology and innovation, and financial accounting matter, they function within the management system rather than form its base.

Asset management under ISO 55000 is treated as a strategic, enterprise‑wide activity. Its foundation is the organization’s business and management framework—the policy, governance, planning, risk management, and performance measurement that align asset decisions with the organization’s strategic objectives. This approach ensures value is created from assets over their life cycle by balancing cost, risk, and performance to support overall goals. While people and culture, technology and innovation, and financial accounting matter, they function within the management system rather than form its base.

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