Asset management (BSI PAS 55)

What is asset management?

Asset custodians are increasingly being asked questions about the condition and performance of their assets, and whether they have a maintenance policy for optimum performance and longevity.

There is now a publicly available specification (BSI PAS 55) which identifies best practice for asset management. As well as providing a route map for the introduction of an asset management regime, certified compliance with the specification also allows operators to demonstrate effective management to stakeholders.

How we can help

We offer two principle services in support of the development and maintenance of an effective asset management regime, and can assess existing management frameworks against this independent British Standards Institute specification, as promoted by the Institute of Asset Management.

Training - provide senior management with an overview of the requirements of BSI PAS 55, and for practitioners, a more detailed course to train staff how to implement the specification.
Verification - assess and if compliant, certify, conformance with the requirements of the specification.

What are the benefits?

• Evidence that the investment and expenditure on assets is in accordance with the company business strategy
• managed cost through optimisation of investment and maintenance for required operational and safety performance
• support to corporate governance through independent verification of safety critical system compliance
• evidence for regulators and other stakeholders that assets are being appropriately maintained and short and long term issues and risks are being addressed
• access to multi-disciplinary teams with competencies and experience across a wide field of asset types and engineering systems