Does ISO 55001 require an asset management policy?

Yes. ISO 55001:2014 requires top management to establish an asset management policy as part of leadership and commitment. The policy must be appropriate to the purpose of the organisation, provide a framework for setting asset management objectives, and include commitments to satisfy applicable requirements and to continual improvement. It also has to be documented, communicated within the organisation and made available to interested parties where appropriate. This template is structured to meet those requirements, so you can adapt it to your context and route it through top management for formal approval.

How does the policy relate to the SAMP and asset management objectives?

The policy sits at the top of the asset management system and sets direction, while the strategic asset management plan (SAMP) turns that direction into objectives and plans. ISO 55001 expects the policy to provide a framework for setting asset management objectives, and those objectives should trace back to organisational goals through the SAMP. In practice the policy stays short and stable, the SAMP carries the strategy, and detailed plans and procedures sit below both. Keeping that line of sight clear is what auditors look for when checking the system is coherent and aligned.

Who should own and approve the asset management policy?

Top management owns the policy under ISO 55001, because establishing it is part of their leadership responsibilities. In practice a senior asset or operations leader usually drafts and maintains the document, but final approval and sign-off must rest with top management. Naming a clear policy owner, the people accountable for assets and the function that maintains the system removes ambiguity. Recording who approved the policy and when, alongside a version number, gives you the audit trail that reviewers expect and makes the next review cycle straightforward to run.

How often should we review the asset management policy?

Review the policy at least annually and whenever the management review of the asset management system takes place. An annual cadence keeps it aligned with current objectives, risk appetite and regulatory obligations. You should also trigger an out-of-cycle review after any material change, such as a new strategy, a restructure, a significant incident or a shift in legal requirements. Each review is a chance to confirm the policy still suits the purpose of the organisation, then re-approve and re-issue it with an updated version and review date so the continual improvement commitment is demonstrably met.

Is this asset management policy template free to download?

Yes, this asset management policy template is completely free to download and use, with no account or sign-up required. Open the page, use Print to PDF in your browser, and you have a clean, branded document ready to adapt to your organisation. If you later want to move beyond a static policy and manage assets, lifecycle stages and compliance evidence in one place, MapTrack gives you asset tracking, audit trails and reporting that bring the policy to life. Start free or book a demo to see how.

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Free asset management policy template (PDF-ready). ISO 55001-aligned policy covering scope, objectives, lifecycle, risk and review. Download now.

Jarrod Milford

Commercial Director

Updated 9 June 2026

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Key takeaways

ISO 55001 requires top management to establish a documented asset management policy with a framework for objectives.
Keep the policy short and stable; let the SAMP and supporting plans carry the detail.
Link asset management objectives back to organisational objectives so the system stays coherent.
Cover the full lifecycle: acquire, operate, maintain and dispose, with risk-based decisions throughout.
Review at least yearly and after any material change, then re-approve and re-issue with a new version.

Updated 9 June 2026

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What is a asset management policy template?

An asset management policy is a short, top-level statement that sets out the intentions and direction of an organisation for managing its assets. Under ISO 55001 it sits at the head of the asset management system, giving everyone a clear mandate for how value is created and protected across the asset base. The policy is deliberately brief and stable, while the detail of objectives, plans and procedures lives in supporting documents such as the strategic asset management plan (SAMP).

ISO 55001 places the policy firmly with top management. Leaders must establish a policy that suits the purpose of the organisation, provides a framework for setting asset management objectives, and commits the organisation to meeting applicable requirements and to continual improvement. The policy must be documented, communicated and made available to relevant interested parties. This template gives you that backbone so you can adapt it to your context rather than starting from a blank page.

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Benefits of using this asset management policy template

Leadership mandate: gives top management a documented commitment that anchors the whole asset management system.
Standard alignment: maps directly to ISO 55001 expectations so audits and certification reviews go more smoothly.
Strategic line of sight: links asset management objectives to organisational objectives through the SAMP and supporting plans.
Consistent decisions: sets risk-based principles that keep acquisition, operation, maintenance and disposal choices aligned.
Clear accountability: defines roles and responsibilities so ownership of assets and information is never ambiguous.
Continual improvement: embeds review and update cycles that keep the policy current as the organisation evolves.

Benefits of digitising forms in MapTrack

When you move your policys from paper to MapTrack, you get:

Field users can easily scan a QR code to complete a form on mobile. Unlimited users.
Automatically get alerts when faults are identified.
Link every form digitally as a PDF to the relevant asset, location or person.
Receive a digital PDF copy with every submission to your email.
Ability to share forms digitally.
Build conditional logic (show or hide questions based on answers).
Take pictures or attach photos. Not possible with a paper-based form.
Electronic signatures.
Edit forms later without reprinting.
Restrict permissions (who can view, complete or approve).
Build forms with AI (describe what you need and MapTrack suggests the form).
Maintain a live asset register with location, condition and custody history.
Schedule and track calibration, certification and warranty expiry dates.
Generate depreciation and total-cost-of-ownership reports per asset.

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What to include in a asset management policy template

This asset management policy template covers 9 key areas:

Purpose and scope: why the policy exists and which assets, sites, business units and functions it covers.
Alignment to organisational objectives: how asset management supports the wider strategy and stated organisational goals.
Strategic asset management plan link: how the policy connects to the SAMP and the objectives and plans that flow from it.
Asset management principles: the value, alignment, leadership and assurance themes that guide day-to-day decisions.
Lifecycle approach: a commitment to managing assets across acquire, operate, maintain and dispose stages.
Risk-based decision making: how risk, whole-life cost and performance are balanced when choices are made.
Compliance and information requirements: applicable legal, regulatory and data obligations the organisation will satisfy.
Roles and responsibilities: who owns the policy, who maintains the system and who is accountable for assets.
Review and approval: the commitment to continual improvement plus sign-off, version and review-date details.

How to use this asset management policy template

Confirm context and scope: Work with top management to define which assets, sites and functions the policy will cover and how it relates to the wider organisational strategy. Capture the stakeholders and applicable obligations early so the policy reflects real operating context rather than generic wording.
Draft the policy statement: Write a concise statement that suits the purpose of the organisation, references the principles you will follow, and commits to meeting applicable requirements and to continual improvement. Keep it brief and durable so the detail can live in the SAMP and supporting procedures instead.
Link to objectives and the SAMP: Show how the policy provides a framework for setting asset management objectives and how those objectives trace back to organisational goals through the strategic asset management plan. This alignment is what auditors and leaders look for when judging whether the system holds together.
Assign roles and approval: Name the policy owner, the people accountable for assets and the function that maintains the asset management system. Route the draft to top management for formal approval, because under ISO 55001 leadership ownership of the policy is an explicit requirement, not an optional extra.
Communicate and schedule review: Publish the approved policy, make it available to interested parties and brief teams on what it means for their work. Record a version number and a planned review date so the document stays current and the continual improvement commitment is demonstrably honoured over time.

In MapTrack, you can manage your full asset register digitally. Each submission is stored as a timestamped PDF against the asset record.

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How often should you complete this policy?

Review the asset management policy at least once a year, and always as part of any management review of the asset management system. An annual cadence keeps the document aligned with current organisational objectives, risk appetite and regulatory obligations, and gives top management a regular point to reaffirm their commitment. Many organisations tie the policy review to their planning cycle so any change in strategy flows straight into the SAMP and supporting plans.

Trigger an out-of-cycle review whenever something material changes. A new strategic direction, a merger or restructure, a significant incident, a shift in legal or regulatory requirements, or a major change to the asset portfolio can all make the existing wording stale. Treat each review as a chance to confirm the policy still suits the purpose of the organisation, then re-approve and re-issue it with an updated version and date.

Frequently asked questions

Applicable regulatory standards

This template aligns with the following regulations and standards:

ISO 55000:2014 (Asset management - Overview, principles and terminology)
ISO 55001:2014 (Asset management - Management systems - Requirements)
ISO 55002:2018 (Asset management - Guidelines for the application of ISO 55001)

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