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Asset Management PAS 55-1

by Dimension 85 Internet and Digital Consulting
PAS 55-2:2008 Asset management. Guidelines for the application of PAS 55-1
Recommended Features
  • Asset management system requirements
  • Asset management policy
  • Asset management strategy, objectives and plans
  • Asset management enablers and controls
  • mplementation of asset management plan(s)
Learn more about Asset Management PAS 55-1»

Review on Asset Management PAS 55-1

PAS 55-2 has been revised to help you to implement the updated specification on asset management.

Significant amounts of money and time are spent managing business critical assets each year. Yet to date there has been confusion over terminology and a variety of approaches have been employed. In many cases these approaches served well, but equally many of us will be aware of high-profile failures that hit the headlines. Of course, it is likely that lesser known issues exist as well. Sub-optimal asset management arrangements reduce performance, increase costs and fail the customer.

It was clear to the Institute of Asset Management (IAM) that there was a crucial need to provide a consistent framework for Asset Management systems. PAS 55: Asset Management meets this need. It is applicable to any organization that depends upon its physical assets for the performance and continuance of its business operations.

Part 2 of PAS55 provides guidance to aid the understanding of the intent of the requirements in PAS 55 Part 1. It does not introduce any new requirements. It provides guidance on the establishment, implementation, maintenance and improvement of an asset management system and its coordination with other management systems.

PAS 55-2 does not prescribe mandatory approaches, methods or tools for the implementation of the requirements of PAS 55-1, but rather aids understanding and implementation by means of examples and illustrations.

Contents of Part 2 of PAS 55 include:

* Introduction
* Scope
* Reference publications
* Terms and definitions
* Asset management system requirements
* General requirements
* Asset management policy
* Asset management strategy, objectives and plans
* Asset management enablers and controls
* Implementation of asset management plan(s)
* Performance assessment and improvement
* Management review
* Bibliography

This Publicly Available Specification (PAS) is applicable to any organization where physical assets are a key or a critical factor in achieving its business goals.

This PAS has been developed in consultation with a large number of international organizations and individuals from a wide range of industries that are active and proficient in the field of asset management including the Institute of Asset Management (IAM). For a full list or the organizations involved in developing PAS 55, visit the page for PAS 55-1.

PAS 55-1:2008 and PAS 55-2:2008 supersede PAS 55-1:2003 and PAS 55-2:2003, which have been withdrawn.

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