PAS 55 and it's perspective on assets.

 

PAS 55

At the core of this Publicly Available Specification are physical assets. Physical assets require four other vital assets - human, information, financial, intangible - to be positioned to add value.

At the core of PAS 55 are physical assets and how they're managed. These assets are the heartbeat of every asset-intensive business. In the context of the business, important things to consider for physical assets are -

  • Stakeholder Needs - Who has a stake in your assets?

  • Business Objectives - Which strategic business objectives do your assets add value to?

  • Performance Goals - What are the performance goals that your organization has for its assets?

  • Risk Management - How much risk is your organization prepared to tolerate? If these boundaries are exceeded, what is your containment strategy?

  • Policies - Does your organization have effective policies? Are they enforced?

  • Regulatory Environment - What is your compliance track record?

PAS 55 considers 4 other types of assets and their impact on the management of physical assets -

  • financial

  • people (human assets)

  • information

  • intangibles

This holistic view is vital to achieve asset management objectives that contribute to the strategic objectives of the organization. Check out how FORTIG connects these vital assets.

StandardsGail PetersenPAS 55, Asset Intensive, Asset Management, Facilities, IAM, Plant, Standards, Strategic Objectives, Risk, Performance, Institute of Asset Management, Physical Asset, Physical Assets, Equipment, Stakeholders, Regulators, Policies, Finance, People, Information Technology