ISO 55001:2014 specifies requirements for an asset management system within the context of the organization. Assets come in all shapes and sizes, but one thing is for certain all organizations have assets. assets can be tangible or intangible and include everything from IT components, property, inventory, and intellectual property, That’s why it is important to manage your assets effectively and ISO 55001 can do just that. ISO 55001 is especially relevant in industries that are capital intensive, have significant physical assets to manage and have high fixed costs. This can include utilities, heavy and light manufacturing, distribution, construction, property management and transportation. ISO 55001 is the international standard that helps organizations effectively manage their assets to optimize their lifetime value. ISO 55001 is especially crucial in industries that are capital intensive and have numerous assets.