In today's uncertain economic conditions, investment decisions should be made not only based on initial costs but also by considering the total value created throughout the life cycle. From an ISO 55001 perspective, Life Cycle Analysis enables the evaluation of assets from design to disposal in terms of cost, risk, performance, and sustainability. This approach is a powerful tool that reduces uncertainty in strategic decision-making, investment justification, and maintenance

This article introduces the ISO 55000 Asset Management System, outlining its origins, scope, and purpose. It explains physical asset management as a lifecycle-based, risk-focused, and organization-wide approach rather than a maintenance-only activity. ISO 55000 helps organizations align asset-related decisions with strategic goals, reduce total costs, improve performance, manage risks, enhance safety and sustainability, and protect long-term value across all stages of an asse