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  Home > Leadership for Reliability > Physical Asset Management

Physical Asset Management


  The British Standards Institute’s Publicly Available Specification 55 - Parts 1 and 2

Includes Parts 1 and 2

Our Price: $290.00


BSI PAS 55:2008 provides a clear and concise definition of what needs to be done to tune physical assets for business objectives at any point in their lifecycle. PAS 55 covers every organization – whether private or public – in any sector. It is already in use within public services & property, utilities, transport, manufacturing, mining, oil & gas, defence, pharmaceutical, process and heavy engineering.

Published by BSI British Standards, with the rigour of a Publicly Available Specification, Part 1 is a checklist of what needs to be in place while Part 2 provides extensive guidance and illustrations of how to achieve the requirements of Part 1.

The standard comprises:

  • Definition of terms in asset management
  • Requirements specification for good practice
  • Guidance for the implementation of such good practice.
PAS 55 provides objectivity across 28 aspects of good asset management, from lifecycle strategy to everyday maintenance (cost/risk/performance). It enables the integration of all aspects of the asset lifecycle: from the first recognition of a need to design, acquisition, construction, commissioning, utilization or operation, maintenance, renewal, modification and/or ultimate disposal.

PAS 55 also provides a common language for crossfunctional discussion and provides the framework for understanding how individual parts fit together, and how the many mutual interdependencies can be handled and optimized.

  • A clear, internationally recognized definition of what good asset management means.
  • 28-point checklist for good practices in lifecycle planning, cost/risk optimization and joined-up thinking.
  • In widespread use by many enthusiastic users.
  • Developed over more than 6 years, by over 50 public and private organizations in 10 countries and 15 sectors - incorporating feedback from users.
  • The hallmark for demonstrating competent governance of critical infrastructure.
  • Applicable to all sectors and all asset types.
  • Extensive glossary and definitions of key terms.
  • Detailed guidance and examples of good practice.

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