ISO launches new international standard – ISO 55011:2024 – to support improved public policy and asset management outcomes
Geneva, August 12, 2024 – The International Organization for Standardization (ISO) Technical Committee on Asset Management (TC251) releases new international standard, ISO 55011 – Guidance for the development of public policy to enable asset management.
ISO 55011 was developed in response to a 2020 global survey and brings together a compendium of research and real-life lessons learned internationally from public policy authorities, advisors, and other relevant groups.
Commending the new guidance standard as a welcome addition to the ISO Asset Management Standards, Working Group Convenor Ms. Tiffany Batac explains, “It offers a menu of options covering a range of useful actions and considerations in the development of public policy instruments for improving asset management outcomes. The ‘toolkit,’ supplemented with illustrative case studies, is intended to inform the choice and development of public policy instruments that can help achieve objectives and better outcomes.”
ISO 55011 is intended for all those who want and are able to advance and support the adoption of asset management in their respective countries or jurisdictions through public policy.
Introducing the enabling environment for asset management through public policy, the standard details how the range of public policy instruments can be developed to improve asset management outcomes. Leading international case studies and specific considerations for these instruments are also included to help establish, improve, or sustain the enabling environment for asset management.
The new standard identifies ways in which government and non-government bodies can act and interact to improve public policy, asset management, and ultimately societal and government objectives across multiple organizations and at all levels.