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ISO 55001  |  PAS 55-1  

PAS 55-1

PAS 55-1 is the specification for the management of physical assets, supplemented by PAS 55-2, “Code of Practice for Implementing Physical Asset Management.” The specification allows organisations to develop good practices for the sustainable, long-term administration of organisational assets, thereby demonstrating that assets deliver the required level of performance of a service or product at an optimal cost.
 
PAS 55-1 provides objectivity across 28 aspects of good asset management, from life cycle strategy to everyday maintenance. It enables the integration of all aspects of the asset life cycle, from the first recognition of a need to design, acquisition, construction, commissioning, utilisation or operation, maintenance, renewal, modification and/or ultimate disposal.
 
It is applicable to all sizes of business, from small to medium enterprises through to multinationals, and to any organisation that wishes to optimise assets performance by managing its physical assets over their life cycles or over a defined long-term period in a sustainable manner.
 
System Requirements
PAS 55-1 specifies the requirements in:
  1. General Requirements
  2. Asset Management Policy and Strategy
  3. Asset Management Information, Risk Assessment and Planning
  4. Implementation and Operation
  5. Checking and Corrective Action
  6. Management Review and Continual Improvement
 
Benefits of Certification
  • Assists the asset management process at all levels, from capital budgeting to maintenance planning and operation
  • Recognition for implementation of an integrated life cycle asset management system
  • Gain credibility in good practice and corporate governance, and a robust platform for developing further improvement.
  • Gain competitive edge by ensuring improving asset management effectiveness.
  • Demonstrates commitment to sustainability issues
  • Enhances corporate image

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Last Update: 2021-11-27   Disclaimer and Copyright
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