Every organization tries to maximize the value realized from their assets to achieve their goals. For decades organizations all over the world tried to improve the efficiency and effectivity of their asset management, which led to many divergent developments in this area. The International Organization of Standardization (ISO) tried to combine this knowledge by developing a common standard for asset management. The ISO 55000 series provides a framework for an effective asset management system, similar to the ISO 9001 for quality management systems, which already has been implemented by more than one million organizations worldwide. This led to the question, wether an organization, that already has been certified according to ISO 9001, can realize advantages in the certification according to ISO 55001. While those standards only provide the means to certify an existing management system, industry awards enable organizations to analyze and evaluate existing structures and systems. The „Maintenance Award Austria“ MA^2 is an award for excellent asset management and therefore has to react to new developments in that area. For that reason it is determined how the MA^2 can be revised based on the contents of the ISO 55001. At first the basics of management systems, the related standards and asset management are described. Next a detailed analysis of the requirements of ISO 55001 is carried out, on which basis a comparison with the requirements of the ISO 9001, including the changes of the ISO 9001:2015 revision, is created. Based on this comparison overlaps in the content and other synergetic effects are identified. This is followed by a systematic comparison between the MA^2 assessment model and the requirements of the ISO 55001. The results show, that an organization that is already certified according to ISO 9001 can realize benefits during the certification according to ISO 55001. Those benefits mainly consist of the synergetic effects of an integrated management system approach. To a limited extend overlaps between the contents of the ISO 55001 and the MA^2 can be identified. Based on those overlaps recommendations for the revision of the MA^2 are developed.