The ISO 55001:2014 asset management standard provides a universal framework for managing the use of physical assets, such as mobile or fixed operating plant and equipment. ISO 55001 Asset management – Management systems – Requirements, considers an asset management system ought to address six aspects of an organization: the internal and external environment, its planning processes, its support processes, its operational processes, its performance evaluation processes, and its ongoing improvement processes. The ISO 55001 standard document contains a framework structured to fit these six factors. Throughout ISO 55001 it correctly promotes, and aims to imbed, the key principle of successful enterprise asset management (EAM)—make risk elimination your primary focus to minimise business and operating risk; keep risk control as a distant secondary option.