The presentation, which began with why organisations need the ISO 55001 Asset Management standard, emphasised that the standard provides effective
resource management, transparency, and corporate consistency through a holistic approach of strategy and activity compatibility, optimum cost and
benefit balance, and a holistic approach to change management. The main components of the management system and the established system's
functioning mechanisms were mentioned. The functions of this mechanism's Organisation & People, Strategy & Planning, Operation &
Maintenance, Risk & Review have been discussed. The presentation concludes with examples from around the world of how the system is used
and the benefits it provides to businesses.