Iso 55001 or pas 55 cannot tell you when you have made an ideal asset management choice. International organization for standardization iso. Pas 55 is the british standards institutions bsi publicly available specification pas for the optimized management of physical assets it provides clear definitions and a 28point requirements specification for establishing and verifying a joinedup, optimized and wholelife management system for all types of physical assets. Four years later it was revised following input from 49 organizations from 10. Uic contribution to progressive management of railways assets. Pas 55 is the british standards institutions bsi publicly available specification for optimizing management of physical assets it provides clear definitions and a set of 28point requirements for establishing and verifying an integrated, optimized and wholelife. It was equally applicable to public and private sector. Certificate in fixed assets accounting and management.
The pas55 certification is a formal recognition that an organizations integrated lifecycle asset management system is adequate and effective, in line with pas 55. A 28point checklist is included for good practices in life cycle planning, costrisk optimisation and. Key themes that helped make pas 55 successful have been retained, but while pas 55 is focused on physical assets, iso 55001 can be applied more easily to other asset types, such as data, knowledge or reputation, while retaining its natural suitability to. Differences between pas 55 and iso 55000 strategic. Ice asset management achievement award final press. The pas gave guidance and a 28point requirements checklist of good practices in physical asset management. This pas gives guidance and a 28point requirements checklist of good practices in physical infrastructure asset managementasset management. Apply the 28 point requirements to establish a whole life asset management system according to pas 55 and iso 55000 evaluate investments in fixed assets according to net present value npv, internal rate of return irr and other methods. It is subject to a rigorous evaluation and validation of competency across all the pas 55 requirements.
Pas 55 1 comprises the 28point requirements and pas 55 2 provides guidance for the application of pas 55 1. Iso 55000 was developed based on pas 55, optimal management of physical assets, a standard originally developed by the british standards institution bsi and a group of 50 organizations from 10 different countries and 15 sectors of industry. It provides guidance on the establishment, implementation, maintenance and improvement of an asset management system and its coordination with other management systems. The iso 55000 series of asset management standards was launched in january 2014 history. This part of pas 55 pas 55 2 contains guidelines for the application of pas 55 1. Pas 55 is a publicly available specification published by the british standards institution. The pas 55 specification includes definition of asset management terms, requirements specification for good practice and guidance for the implementation of such good practice, and provides a common language between asset managers and finance. Pas 55 provides 28point requirements specification that has been recognized around the world as a benchmark of good practices and now uprated to the newly published iso55000 standard see. Home pas 55 information twpl and pas 55 buy pas 55 what is. The specification defines the integrated approach required to meet. This document has been superseded by the iso 55000 series. Pas 55 thus provides tangible evidence of systematic, crossdisciplinary and optimized management that correctly blends responses to short term requirements with. It outlines, in particular, the pas 55 and iso 55000 sets of requirement.
The specification is structured around the familiar plandocheckact cycle of continual improvement, and aligns with corresponding requirements of iso 9001. The pas gave guidance and a 28point requirements checklist of good. Iso 55000 and am landscape international union of railways. A survey of protection, automation and control systems in. Pas 55 includes a 28point requirements checklist describing mechanisms for establishing whole life cycle planning, risk management, and costbenefit analyses within the daytoday activities of capital project implementation. Pas 55 was originally produced in 2004 by a number of organisations under the. However iso 55001 is a standard for any asset type, whereas pas 55 is explicitly focussed on the optimal management of. There would be massive variation within proposals and between proposals. The bsi pas 55 provides a 28point checklist of requirements for an effective asset management system.
Training methodology ecoman worldwide leader in competency. The current system for managing risks to grid assets. The 28point requirements checklist in the bsi pas 55 specification was applied to the management system of protection and control assets in edp distribuicao portuguese dso. Pas 55 is the british standards institutions bsi publicly available specification pas for the optimized management of physical assets it provides clear definitions and a 28point requirements specification for establishing and verifying a joinedup, optimized and wholelife management system for. Before it, a publicly available specification pas 55 was published by the british standards institution in 2004 for physical assets. 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. Originally published in 2004, pas 55 delivered a set of clear definitions and a 28point requirements specification for optimized and wholelife asset management systems. This part of pas 55 pas 55 2 provides guidelines for the application of the requirements specified in pas 55 1. Ice asset management achievement award final press release v1 3. This pas gives guidance and a 28point requirements checklist of good practices in physical asset management. Apply the 28 point requirements to establish a whole life asset management system according to pas 55 and iso 55000 evaluate investments in fixed assets according to net present value npv, internal rate of return irr and other methods recognize and correctly measure fixed assets and intangible assets under international financial reporting. An introduction to pas 55 optimal management of physical. Sep 16, 2019 pas 55 provides detailed guidance and examples of good practice in all facets of acquiring, owning and ultimately disposing of physical assets. Bw consulting 2010, transpowers asset management strategies and plans, page 7.
Pas 55 optimal management of physical assets specification. Iso 55000 overview, principles and terminology iso 55001 asset management, management systems requirements. Certification against pas 55 has even been adopted in some industries e. Asset management lineofsight pas 55 specifications bsi standards and iso 55000 standards.
Four years later it was revised following input from 49 organizations from 10 countries. Pas 55 gives guidance and an auditable 28point requirements checklist of good practices in physical asset management. The structured questionnaire was designed according to the guideline of pas 55. Pas 551 comprises th e 28point requirements specification and pas 55 2 provides guidance for the application of pas 551. Iso 55000 is an international standard covering management of assets of any kind. The 28point requirements checklist in the bsi pas 55 specification was applied to the management system for protection and control assets in the portuguese dso 3. Initially a publicly available specification pas 55 published by the british standards institution in 2004 gives guidance and a 28point requirements checklist of good practices in physical asset management iso 55000 defines requirements for an asset management system, in the same way as iso 9001 specifies a quality management system iso. Pas 55, which was launched in 2004 in two parts pas 551 which included a 28point physical asset management checklist and pas 552 which provided guidelines for applying pas 551. Pas 55 gives guidance and a 28point requirements checklist of proposed good practices in physical asset management.
Pas 551 comprises the 28point requirements and pas 552 provides guidance for the application of pas 551. Successfully passing a pas 55 audit doesnt just mean you are doing something to watch how well you do, as it does in the quality standards, it means that you are doing things well. View and download firelite ms9200udls manual online. If your organisation has been using pas 55, then migrating to iso 55000 is fairly straightforward. Pas 55 is the british standards institutions bsi publicly available specification for optimizing management of physical assets it provides clear definitions and a set of 28point requirements for establishing and verifying an integrated, optimized and wholelife management system for all types of physical assets.
Oct 18, 2017 initially a publicly available specification pas 55 published by the british standards institution in 2004 gives guidance and a 28point requirements checklist of good practices in physical asset management iso 55000 defines requirements for an asset management system, in the same way as iso 9001 specifies a quality management system iso. The presentation style is similar to that adopted in bs en iso 9004 and ohsas 18002. Pas 551 comprised the 28point requirements and pas 552 provided guidance for the application of pas 551. Computeraided control systems including hardware and software to collect and monitor parameters protects consumers but does not apply to most business. Pas 55 1 pdf it outlines, in particular, the pas 55 and iso 55000 sets of requirement. Pas 55 provides detailed guidance and examples of good practice in all facets of acquiring, owning and ultimately disposing of physical assets. Fifteen asset management facts some experts wont believe. Section 4 of pas 551 provided 28 objective highlevel requirements. Please note that the terms and definitions are contained in pas 55 1, and are not repeated in this part. Pas 55 is a specification from the bsi and the international asset management committee designed to provide guidance in managing physical assets. The manual starts with basic asset management implementing. Read guidance for developing a transit asset management plan.
Pas 55 optimal management of physical assets is a publicly available specification published by the british standards institution. Iso 55000 overview, principles and terminology iso 55001 asset management, management systems requirements iso 55002 management systems. Management manual iimm published by ipwea, the framework for. Although the structure is very different, most of the elements above are incorporated into the requirements of iso 55001.
Implementing pas 55 has addressed many of the issues and challenges of moving a. The iso 55000 series of asset management standards was launched in january 2014. Pas 55 specifications bsi standards and iso 55000 standards. An introduction to pas 55 optimal management of physical assets.
Pas 55 was originally produced in 2004 by a number of organisations under the leadership. Pas 55 is the british standards institutions bsi publicly available specification for the optimized management of physical assets it provides clear definitions and a 28point requirements specification for establishing and verifying a joinedup, optimized and wholelife management system for all types of physical. Rai, the manifesto named 28point guarantee card also promises doorstep delivery of ration, free pilgrimage to 10 lakh senior citizens and 1 crore compensation to kin of a. Contents 1 automotive 2 companies 3 medicine 4 organizations 5 places wikipedia. The projects aim is to facilitate open and practical dissemination of the principles of asset management as. Pas55 provides guidance and a 28point requirements checklist of. A 28point checklist is included for good practices in life cycle planning, costrisk optimisation and joinedup thinking, and an extensive glossary of key terms. Give pas 55 or iso 55001 to ten thousand different people and you will get ten thousand different answers.
Pas 55 and the bs iso 55000 series, this guide will help you to quickly get to. Pas 551 comprises the 28point requirements specification and pas. This pas gives guidance and a 28 point requirements checklist of good practices in physical asset. Home pas 55 information twpl and pas 55 buy pas 55. This is a publicly available specification pas published by the british standards institution bsi. This briefing paper explains the current status and developments in standards for asset management. An intelligent and improved density and distancebased. Pas 551 comprises the 28point requirements specification and pas 552 provides guidance for the application of pas 551. A 28point checklist is included for good practices in life cycle planning, costrisk. Read guidance for developing a transit asset management. A survey of protection, automation and control systems in the. Good asset management is increasingly viewed as normal practice in mature organisations around the world. This pas gives guidance and a 28 point requirements checklist of good practices in physical asset management.