An introduction to pas 55 optimal management of physical assets. In todays competitive climate, its important to have the tools that allow the highest level of productivity at your disposal. A framework for embedding asset management excellence. In 2004, the british standards institute bsi, in collaboration with the institute of asset management, released publicly available specification 55 part 1 and 2, which was considered the first internationally. Pas 55 asset management gap analysis high performance requirements were imposed by the government and public opinion on one of the most completely utilized infrastructure networks in. Iso 55001 asset management if your organization has multiple assets at the heart of the business, youll know that an efficient asset management strategy, regardless of whether the assets are financial. Asset management standards from pas55 to iso5500 where could this go to. Asset and infrastructure management for airports larissa james principal consultant, ghd consulting inc. Energy company scottishpower, a division of iberdrola, was the first power generator and the second company in the world to be certified on bsi publicly available specification 55 pas 55. Pas 55 clearly indicates what is needed to manage your assets throughout the entire life.
Applying the guidelines of bsi pas 55 to facility management. Review and application of iso 55000 asset management standards. How to make pas 55 and iso 55001 successful lifetime. This introduction to pas 55 and some key aspects of asset management also describes how the ventyx ellipse enterprise asset management eam solution has been developed specifically to align with. Pas 55 gives guidance and a 28point requirements checklist of proposed good practices in physical asset management. How to build your iso 55001 asset management system. Bsi pas 551 pdf posted on april 26, 2020 by admin pas 55 is the asset management specification for the optimized management of physical assets. Asset management enables an organization to realize value from assets in the achievement of its organizational objectives see 2. Pas 55 addresses asset lifecycle management plant services. Pdf quantitative methods required for implementing pas 55 or the. In 2004 the institute of asset management, in conjunction with british standards.
The presentation style is similar to that adopted in bs en iso. The british standard pas 55 asset management, published by bsi, could be named the predecessor of iso 55000. An emerging global standard for asset management written by john benders, mincom monday, june 2011 12. The publiclyavailable specification for asset management pas 55 outlines what a. Asset management as defined in iso 55000 is coordinated activity of an organization to realize value from assets. International infrastructure management manual, produced by nams new zealand inc. A framework for embedding asset management excellence dr navil shetty. Before it, a publicly available specification pas 55 was published by the british standards institution in 2004 for physical. We have found that although there are similarities among all of the programs, no two programs are. Iso 55000 is an international standard covering management of assets of any kind.
This part of pas 55 pas 552 contains guidelines for the application of pas 551. Chairman, experts panel, institute of asset management. Applies to all asset types not just physical assets 2. Pas 552 gives you the tools to apply your understanding of pas 55 asset management recommendations. Asset management standard, first published in 2004. Pas 55 is structured around the familiar plandocheckact cycle of continual improvement, and introduces the need for a number of essential enablers and controls to ensure alignment, integration and sustainability of efficient and effective asset management activities. Purchase your copy of pas as a pdf download or hard copy directly from the official bsi shop. This new standard is a high level document outlining the best practices in. General information on asset management, and information on the terminology applicable to this international standard, is provided in iso 55000. Implementing pas 55, asset management standard, through.
Aligning asset management strategy, governance and processes to. What constitutes value will depend on these objectives, the. Asset management is a critical component of any successful business. An introduction to asset management a simple but informative introduction to the management of physical assets by robert davis we are all asset managers. Othe flow of companies preparing one of a kind handmade weddings gnv64 pdf for pas 55 asset management. The iam created pas 55 together with a group of interested corporate partners. Pas 55 was initiated by the iam, and is an internationally recognised specification defining what good asset management means and the hallmark for demonstrating competent governance of critical infrastructure. Methodology presentation pas55 webinar november 2012 15. An introduction to pas 55 optimal management of physical. Pas 55 is a publicly available specification pas published by the british standards institution in 2004 now satisfies that demand. Ugl services has identified that pas 55 is an appropriate asset management framework to provide the required level of asset management sustainability to its facility management fm clients during and. Pas 552 guides you through each stage of planning, implementing and. Iso 55001 asset management bsi middle east and africa. Acrp 0116 asset and infrastructure management for airports.
The aim of this chapter is to describe pas55, the asset management specification published by the british standards institute. Pas 55 evolved into the iso 55000 asset management standard. Pas 551 describes asset management as the systematic and coordinated activities and practices through which an organization optimally and sustainably manages its assets and asset systems, their. Asset management and process safety benefit from pas 55. Development of iso 55000 overview 3 principles of asset. The iso 55000 set of documents is a concept with universal appeal to industry worldwide. Superseding pas 55 asset management which has proved to be one of the most popular standards of all time iso 55001, accompanied by iso 55000 overview, principles and terminology and iso 55002. Pas 55 was originally intended for physical asset managementsi,b 2008, whereas iso 55000 is generic, being applicable to all kinds of. Iso 55000 new standards for asset management peter way psm. British standards institutions publicly available specification 55 pas 55 advises that organizations should not set asset management objectives. Asset management iam, in collaboration with the british standards institution bsi, with the assistance of. Pas 55 part 2 gives guidance on asset management and.
How ums approaches pas55 in its asset management engagements risk management as a cornerstone of pas55 an overview of ums am pas55 training approach an update of the current. This comprises three documents, which can be used by organizations of all. Systems of information for the maintenance management of buildings. Pdf asset management is an important part of any organisation, as it allows them to extract value from their assets. Pas 55 is structured around the familiar plandocheckact cycle of continual improvement, and introduces the need for a number of essential enablers and controls to ensure alignment, integration. Pas 55, a specification from the british standards institute and the international asset management committee, was developed in response to demands from industry and regulators for a. Pas 55 optimal management of physical assets specification. How to build your iso 55001 asset management system quickly and make iso 55001 certification easy the iso 55001 asset management standard provides a universal framework for managing the use of. Asset management iso 55001 optimize your assets and. Applying international standards beyond map21 and towards global best practice in asset management presented by tom goodyer 11 th national conference on transportation asset. Conclusion organization can prevent the piper alpha and deepwater horizon gom by establishing and maintaining the integrity over life cycle of an asset with organization commitment. Pas 55 is part 1 of the standard for asset management. Iso 55000 in 2014 asset management system benny mok march20.
Asset management is an important part of any organis, as it allows themation to extract value from their assets. Certification to pas 55 or the iso 55001 standard is a common management aim when companies use them. The renowned pas 55 has been transformed into the bs iso 55000 series. Collect the right asset information and use it wisely combine organizational knowledge with data driven insights. The adoption of iso 55001, iso 55002 and this international standard enables an organization to achieve its objectives through the effective and efficient management of its assets. Excellence in asset management acrp 0116 asset and infrastructure management for airports. Pas 55 provides objectivity across 28 aspects of good asset management, from lifecycle strategy to everyday maintenance cost risk perfor mance. This pas is not to be regarded as a british standard.