IAM IAM-Certificate Actual Questions

ISO 55001 requires top managementto regularly evaluate the asset management system’s effectiveness. Leadership and review responsibilitiescannot be delegated externally.

Exact Extract from ISO 55001:2014, Clause 9.3 – Management Review:

“Top management shall review the organization’s asset management system at planned intervals to ensure its continuing suitability, adequacy and effectiveness.”

ISO 55001 specifies the key elements that must be addressed in an organization's asset management policy. These include:

Consistencywith the organizational strategic plan

Appropriatenessto the size and nature of the organization

Commitmentto continual improvement and compliance

Frameworkfor setting asset management objectives

Communicationof the policy throughout the organization

This combination ensures the policy aligns operational activities with strategic outcomes.

Exact Extract from ISO 55001:2014, Clause 5.2 – Asset Management Policy:

“The asset management policy shall:

a) be consistent with the organizational strategic plan;

b) be appropriate to the nature and scale of the organization’s assets;

c) include a commitment to satisfy applicable legal requirements and continual improvement;

d) provide a framework for setting asset management objectives;

e) be communicated within the organization.”

TheAsset Management Policyis notderived fromother policies—it isaligned withthem. It expresses high-level intent and governs other plans and strategies, not the reverse.

Exact Extract from ISO 55001:2014, Clause 5.2 – Asset Management Policy:

“The asset management policy shall be consistent with other relevant organizational policies and aligned with the organization’s strategic plan.”