Asset management is increasingly well understood by the business. Defining open bim in infrastructure asset management context 7. Jan 23, 2014 iso 55001 sets out the requirements of an asset management system. Analysis of the new asset management standard iso 55000. How to build your iso 55001 asset management system. Pas 55 is the british standard institutions bsi publicly available specification pas for the optimized management of physical assets that provides good. Iso 55001 asset management bsi middle east and africa. Integration of the pass 55 asset management levels with mine planning levels. The first version of pas 55 was published in 2004, the latest version in 2008. 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 europe. This pas is not to be regarded as a british standard.
Asset management as defined in iso 55000 is coordinated activity of an organization to realize value from assets. The specifications and guidelines were first developed in 2004 in response to industry need for a common standard for asset management. 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. Asset management iso 55001 optimize your assets and. Asset management is an important part of any organis, as it allows themation to extract value from their assets. Written by the institute of asset management and published by the british standards 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. Applying the guidelines of bsi pas 55 to facility management.
The standards can be used to manage any assets, from railway sleepers to brand reputation to telecommunications. Institute of asset management iam, released publicly available speci. Asset management is a critical component of any successful business. Specification for the optimized management of physical assets 27 nen nta 8120, assetmanagement. Heres some insight into this framework for maximizing the return on your assets and improving safety. Pas 55 is part 1 of the standard for asset management.
Asset management challenges is our asset related expenditure capital investment and operating costs insufficient, excessive. Download a free pdf booklet on the key industrial plant wellness way. This specification was issued in 2004 by the british standards institute as the result of a multiindustry working party of iam. It is a publicly available specification pas rather than a.
Implementation of asset management plans requirements for the execution and control of life cycle activities and management of the tools, facilities and equipment as required to deliver the asset management plans note this is a short section, reflecting the pas 55 focus on the management system rather than the assets. Asset integrity management aim is to maintain the asset in a fitforservice condition while extending its remaining life in the most reliable, safe, and costeffective manner. Pas 55 provided the basis from which the iso 5500x series of standards were developed, hence the focus in this paper on pas 55. Implementing pas 55, asset management standard, through. Certification to pas 55 or the iso 55001 standard is a common management aim when companies use them. 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. Standards institution, developed pas 55, the first publicly available introduction 4 specification for optimized management of physical assets. Publicly available specification pas 55 covering the optimized management of physical infrastructure assets. Asset management system requirements are becoming more sophisticated. In todays competitive climate, its important to have the tools that allow the highest level of productivity at your disposal. Known as pas 55, the publically available specification pas. Specification for information management for the operational phase. Building an inventory of your assets scheduling and tracking maintenance tasks through work orders managing your budgeted and actual annual expenses and revenue.
Transportation research circular number e c093, march 2006. The international standards organization built on pas55. 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. Asset management, together with risk management, allows asset owners to scale and apply solutions that are appropriate for the asset challenges that they are facing. The free plantequipment reliability pww pdf and spreadsheet that goes with. This comprises three documents, which can be used by organizations of all.
Asset management systems offer the prospect of significantly improving road network management outcomes. Iso 55002 provides additional useful guidance for applying iso 55001. Pas 55 is becoming internationally accepted as the industry standard for quality asset management. Pas 55 asset management standard gives guidance and best practices on developing and implementing what to for asset management. Iso 55000 series of standards for asset management.
The asset management landscape second edition english version isbn 9780987179920. Review and application of iso 55000 asset management standards. 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. Iso 55000, like pass 55 upon which it is based, is intended to be used particularly in managing physical assets iso, 2014. A publicly available specification or pas is a standardization document that closely resembles. Jun 10, 20 the british standards institution first published publicly available specification pas 55 in 2004 after years of collaboration among consultants and private sector companies under the direction of the institute of asset management, a notforprofit organization. Introduction the asset management of physical assets like chemical plants, power distribution networks, rolling stock, offshore platforms, roads, waterways, buildings, etc. Changes between the old and new asset management specification pas 55 revolution of pas 55 2008. The newly consist of proposed series of standards from the international organizations for. Mitigate risk and enhance asset performance spend the right amount to maintain the asset. Bradley peterson abstract this article explores a broader vision for asset management than has been previously articulated and brands this vision strategic asset management sam. This new standard is a high level document outlining the best practices in asset management systems. The renowned pas 55 has been transformed into the bs iso 55000 series.
Request pdf on sep 1, 2014, zhao ma and others published analysis of the new asset management standard iso 55000 and pas 55 find, read and cite all the research you need on researchgate. Pas 55 part 2 gives guidance on asset management and. Pass 55 pww equipment reliability solutions iso 55001 asset. Before it, a publicly available specification pas 55 was published by the british standards institution in 2004 for physical assets. The british standard pas 55 asset management, published by bsi, could be named the predecessor of iso 55000. Pas 55 gives guidance and a 28point requirements checklist of proposed good practices in physical asset management. Pas 55 optimal management of physical assets specification. Presentational conventions the requirements of pas 551 are reproduced in outlined boxes. Strategic, tactical, and technical asset management have developed at a rapid pace in recent years culminating in the development of organizations like the uk based institute of asset management iam, and development of a formalised publicly available specification pas 55 covering the optimized management of physical infrastructure assets. Asset management dpas offers a broad range of features and functionality to enable you to improve efficiency, reduce your maintenance costs, and provide accounting best practices.
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 physical assets, such as mobile or fixed operating plant and equipment. The aim of this chapter is to describe pas 55, the asset management specification published by the british standards institute. Iso 55001 specifies the requirements for an integrated, effective management system for asset management. Asset management iso 55001 optimize your assets and improve. Way to get you to the best asset management and operational excellence solution. Asset management manual world road association piarc. In addition to regulatory and company requirements, operators of facilities and pipelines have the following business needs n maximizing production. Pas 55 isnt a certification of software applications pas 55 brings up the need for a holistic, crossdepartment and integrated enterprise asset management solution. Pas 55 was revised in 2008 after consultation with a bigger group representing. Iso 55000 is an international standard covering management of assets of any kind. The necessity for good asset management is growing rather than reducing. The pas 55 specification and enterprise asset management a capital asset.
Stephen yu head of assessment and compliance, bsi, hong kong 16. The iso 55000 series of asset management standards was launched in january 2014. New guidance has been introduced for contingency planning see 4. Asset management and process safety benefit from pas 55. The iso 55000 set of documents is a concept with universal appeal to industry worldwide. Reference guide for asset management tools is designed for state staff and technical assistance providers who are assisting small and mediumsized drinking water or wastewater systems in identifying resources that can be used to.
You may buy pdf and hard copy versions of standards. How to build your iso 55001 asset management system quickly. Pas 55 risk management the organization shall establish, implement and maintain documented processes and or procedures for the ongoing identification and assessment of asset related and asset management related risks, and the identification and implementation of necessary control measures throughout the life cycles of the assets. The dpas asset management system is an approved accountable property system of record. Institute an agencywide asset management program that clearly explains and documents existing asset condition levels, system performance, and establishes agency goals to develop strategic action plans to preserve our assets. In 2008, 50 organizations from 15 industry sectors in 10 countries. Since its publication in 2004, pas 55 has been an international success story. Member organisations of the uic asset management working group have. The iso 55000 series of asset management standards was launched in january 2014 history. However iso 55001 is a standard for any asset type, whereas pas 55 is explicitly focussed on the optimal management of physical assets. 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. To make improvements and improve value they must have the most effective of decisionmaking tools to ascertain whether an action such as maintenance or renewal is the best option.
Asset management practitioners within railway infrastructure organisations who already have an appreciation of the concepts of asset management contained in iso55001, and are seeking to establish, implement or enhance an asset management system in accordance with its requirements. How to make pas 55 and iso 55001 successful lifetime. The sap enterprise asset management solution and pas 55. Pas 55 was originally intended for physical asset managementsi,b 2008, whereas iso 55000 is generic, being applicable to all kinds of. This performance can only be met by excellent management in which all aspects of asset management are covered sufficiently.
Infrastructure asset managers bim requirements buildingsmart. To get this help with iso 55001 implementation and prepare for pass 55. Asset management and our conceptual model david mckeown ceo, institute of asset management. This is a publicly available specification pas published by the british standards institution bsi. Asset management the management of assets is undergoing a renaissance with data giving more granular and more timely insight on your assets to achieve operational excellence. The hope is pas55 or iso55001 will bring great asset management.
For more details about fasttrack standards, how pass are. The goals of indots asset management program are to. Pas 55 clearly indicates what is needed to manage your assets throughout the entire life cycle, starting from organizational objectives. Systems of information for the maintenance management of buildings.
An emerging global standard for asset management written by john benders, mincom monday, june 2011 12. Notes asset management overview publications asset. Good asset management is first of all a business approach and includes change management to achieve continuous improvements along the way. Iso 55000 gives an overview of the subject and sets out principles and terminology. The development of the initial pas 55 documents was led by the iam in collaboration with the bsi. Ventyx ellipse is a fully integrated enterprise asset management solution that is aligned with pas 55. Major changes between the old and the new version new requirement on pas 55 2008 speaker. In this recorded presentation in collaboration with reliability web, james nesbitt principal services at apg, provides an overview of effective asset management. Iso 55000 providing an overview of the subject of asset management and the standard terms and definitions. Pass are often produced in response to an urgent market need. Figure 2 pas 11922 information delivery cycle amended for asset management.
Asset management is essentially a riskbased process 2. Nevertheless, it is expected that pas 55 will continue to be used as an expanded guidance tool on the management of physical assets woodhouse, 2014, while iimm will carry on being one of the. Asset management is a wellestablished discipline successfully implemented in several countries, for management of highways as well as other physical asset, addressing demands of a nations citizens and industry for greater accountability and transparency, more efficient use of funds, greater focus on customer expectations and more. Asset management standard, first published in 2004. Pas 55 was originally produced in 2004 by a number of organisations under the leadership. British standards institutions publicly available specification 55 pas 55 advises that organizations should not set asset management objectives without due consideration of the costs so that the best value. Page 4 of 57 1 background there have been major global advances in asset management standards, models and principles. Iso 55000 provides the overview, concepts and terminology for asset management. Thats why weve transformed it to become an international standard, which is available in three parts. Pas 55 evolved into the iso 55000 asset management standard. Pas 55 is a high level guidance defining asset management as systematic and coordinated activities and practices through which an organization optimally and sustainably manages its assets and asset systems. Infrastructure related businesses invest heavily in asset management systems to help manage their assets and improve their overall performance. The iso 55000 family is the first set of international standards for asset management and includes.
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