The UNE-ISO 55001: 2015 standard establishes that asset management comprises the balance of costs (valuation of assets), opportunities and risks of the assets considered, throughout their life cycle, that is, in the period from generation of assets until the end of its life.
A life cycle can be broken down more or less rigorously depending on the stages that need to be taken into account, due to the complexity of the organization’s activities. However, in general, the design stages of the asset, acquisition of raw materials for its elaboration, construction / manufacture, operation or use and destination to abandonment must be considered.
The UNE 178303: 2015 standard, however, limits this life cycle to the design and operation phases, making life cycle management more affordable in Local Entities. In return, it does not allow the outsourcing of asset management, something that the UNE-ISO 55001: 2015 standard does.