Pas 55 2 asset management pdf

Institute in the uk, pas 55 is a publicly available specification which lays down a series of requirements for a business to undertake asset management. Bsi has withdrawn the british pas 55 standard asset management, as of february 1 2015. Known as pas 55, the publically available specification pas. The standards will be based on the bsis publicly available specification for asset management, pas 551 and pas 552. Certification to pas 55 or the iso 55001 standard is a common management aim when companies use them. Pas 55 is becoming internationally accepted as the industry standard for quality asset management. The new international standard for asset management. Pas 55 is a specification for optimally managing physical assets. The renowned pas 55 has been transformed into the bs iso 55000 series. An introduction to pas 55 optimal management of physical. Pas 55 addresses asset lifecycle management plant services. Pas 55 gives guidance and an auditable 28point requirements checklist of good practices in physical asset management.

Specification for the optimized management of physical assets 27 nen nta 8120, assetmanagement. The publiclyavailable specification for asset management pas 55. Pas 55 optimal management of physical assets specification. Asset management is an important part of any organis, as it allows themation to extract value from their assets.

Capture in a transit asset management plan, which includes inventory. A duplicate arose because of the international iso 55000 standard that was published at the start of 2014. The iso 55000 set of documents is a concept with universal appeal to industry worldwide. Implementing pas 55, asset management standard, through. Pas 55 asset management withdrawn as of february 1 2015. Applying the guidelines of bsi pas 55 to facility management. South african journal of industrial engineering august 20 vol 242, pp 2432. Guidelines for the application of pas 551 british standards institution on. This article discusses the british standards institutes publically available specification 55 pas 55, including its history, content and application. Jan 06, 2014 in this recorded presentation in collaboration with reliability web, james nesbitt principal services at apg, provides an introduction to the internationally recognized pas 55 specification for. Application of pas 55 creates greater shareholder value and puts your business ahead of the game. Pas 55 as the basis for development of the new iso 55000 series of introduction 7 international standards.

Before it, a publicly available specification pas 55 was published by the british standards institution in 2004 for physical assets. 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, physical or organizational, should contribute to better operating results, performance and ultimately improve your bottom line. It provides guidance on how to build an asset management system that will support optimal management of physical assets. 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. So, even though pas 55 will be withdrawn as a bsi formal specification in 2015 enabling a 1year overlap with iso 55000 for transfers of their certifications, organisations may find that there is ongoing. An emerging global standard for asset management written by john benders, mincom monday, june 2011 12. However iso 55001 is a standard for any asset type, whereas pas 55 is explicitly focussed on the optimal management of physical assets.

Mtm fast track to asset management improvement and pas. Pas 55 gives guidance and a 28point requirements checklist of proposed good practices in physical asset management. The asset management policy approved by the board ceo responsible for the corporate implementation and for the decision to seek pas 55 certification executive vice president grid operations d responsible for preparations for the pas 55 certification steering group consisting of executive vice presidents grid operations d. British standards can be obtained in pdf or hard copy. In this recorded presentation in collaboration with reliability web, james nesbitt principal services at apg, provides an introduction to the internationally recognized pas 55 specification for. The iso 55000 series of asset management standards was launched in january 2014. Note obsolescence is declared where the content of a standard, which is superseded by new provisions in the form of a new standard, still retains a commercial need. An introduction to pas 55 optimal management of physical assets. Publicly available specification pas 55 covering the optimized management of physical infrastructure assets. Heres some insight into this framework for maximizing the return on your assets and improving safety. 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. Pas 55 2 guides you through each stage of planning, implementing and maintaining a system tailored to your organization. An introduction to pas55 joining up the jigsaw puzzle. Heres how pas 55 is described on the british standards institute web site.

The newly consist of proposed series of standards from the international organizations for. Successful businesses understand that the optimized management of their assets is vital to. Iso 55000 in 2014 asset management system benny mok. The proposal recommends the development of a family of standards in asset management. Superseding pas 55 asset management which has proved to be one of the most. Part 2 is the guidelines for application and costs. Sep 19, 2011 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 standard in asset management to enable assetintensive businesses to ensure an organizations asset management policies, strategies, actions and governance. Documents sold on the ansi standards store are in electronic adobe acrobat pdf format, however some iso and iec. Specialist course overview iso 55000 has replaced pas 55 as the industry standard for excellence in asset management. The 2012 framework is mapped to the 39 subjects in the global forum for maintenance and asset management gfmam asset management landscape 2nd edition, march 2014 and the iams asset management an anatomy 2011. The british standard pas 55 asset management, published by bsi, could be named the predecessor of iso 55000. Firstly, pas 55 is actually a two part document, with full titles as follows. Pas 55 clearly indicates what is needed to manage your assets throughout the entire life cycle, starting from organizational objectives. Provide a pas 55 gap analysis on their existing asset management capabilities.

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 recognized specification for asset management. Pas 55 1 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 associated performance, risks and expenditures over their life cycles for the purpose of achieving its organizational strategic plan. 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 guidelines for the application of iso 55001 will support businesses in achieving the best possible net return from assets while reducing the cost of ownership. Certification by iamendorsed assessors iso assessors. Pas 55 2 gives you the tools to apply your understanding of pas 55 asset management recommendations. This specification was issued in 2004 by the british standards institute as the result of a multiindustry working party of iam. Specification for the optimized management of physical assets british standard. Establish an asset management system to optimally manage assets. Pas 55 part 2 gives guidance on asset management and. This comprises three documents, which can be used by organizations of all sizes and sectors. With the introduction of pas 55 2004, 2008 and iso 55000 2014, there now is an internationally recognised terminology and framework for asset management that the utilities can adopt to enhance the asset performance. Iso 55000 and asset management 5 ws aditya ramamurthy, pmp, env sp hazen and sawyer. Pas 55 is part 1 of the standard for asset management.

To provide a stepbystep guide to asset management best practices as part of pas 55 and iso 55000, starting with foundations and building up to best practices that will deliver maximum business benefits to provide appreciation of pas 55 and iso 55000 to instruct asset management optimization best practice. Pas 55 was originally intended for physical asset managementsi,b 2008, whereas iso 55000 is generic, being applicable to all kinds of. Alignment of organizational objectives feeding into am. Specification for the optimized management of physical assets. The aim of this chapter is to describe pas 55, the asset management specification published by the. Asset management iso 55001 optimize your assets and improve. It is a publicly available specification pas rather than a bs or iso standard at. Iso 55000 is an international standard covering management of assets of any kind. The development of this publicly available specification pas has been led by the institute of. Pas 55 focused narrowly on physical assets, but iso 55000 re. Pas 55 and enterprise asset management control global.

Successfully passing a pas 55 audit doesnt just mean you are doing something to watch how well you do, as it does in the quality standards, it means that you are doing things well. Asset management standard, first published in 2004. Asset management iam, in collaboration with the british. It provides a 32point checklist and framework for asset intensive organisations and completes a management suite of documents that includes iso 14000 and iso 9000. The bsi has advised that they are planning to host the inaugural meeting of the iso committee in late april 2010 in london.

Physical asset management, according to ohanlon 2014 is. Section 2 gives background information on pas 55 and the iso 55000 series, and section 3. Find out more by watching our webinar on iso 55001 asset management. Asset management iso 55001 optimize your assets and. Iso 55001 asset management bsi middle east and africa. Implement, maintain and improve an asset management system. Eisen aan een veiligheids, kwaliteits en capaciteitsmanagementsysteem voor het elektriciteits en gasnetbeheer asset management for electricity and gas networks 28. Pas 55 evolved into the iso 55000 asset management standard. How to make pas 55 and iso 55001 successful lifetime. Iso 55000 in 2014 asset management system benny mok march20. The publiclyavailable specification for asset management pas 55 outlines what a standardised asset management system should.

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