What does PAS 55 stand for?

PAS 55 defines asset management as, “the systematic and coordinated 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 purposes of achieving its organizational strategic plan.”

What is the ISO 55001 standard?

ISO 55001 provides organisations with a systematic approach to asset management. ISO 55001 specifies the requirements to establish, implement, manage and continually improve an asset management system. It is based on the high-level structure, Annex-SL, common to all modern management systems standards.

Is PAS 55 still valid?

So, even though PAS 55 will be ‘withdrawn’ as a BSI formal Specification in 2015 (enabling a 1-year overlap with ISO 55000 for transfers of their certifications), organisations may find that there is ongoing value of PAS 55 as useful guidance and education material.

What is the definition of asset management in ISO 55000?

ISO 55000 provides a widely accepted definition of asset management as “the coordinated activities of an organization for the purpose of generating value from assets”.

What is iso46001?

This document specifies requirements and contains guidance for its use regarding organizational water use. It includes monitoring, measurement, documentation, reporting, design and procurement practices for equipment, systems, processes and personnel training that contribute to water efficiency management.

What are asset management principles?

These principles of asset management are: Output Focus, Capabilities, Level Assurance, and Learning Organisation.

What is the difference between ISO 55000 and ISO 55001?

ISO 55000 is a series of three standards comprising different guidelines for asset management systems. They include: ISO 55000 – contains terminology and an overview of asset management standards. ISO 55001 – specifies the requirements for effective and efficient asset management systems.

What is iso55010?

This document gives guidelines for the alignment between financial and non-financial asset management functions, in order to improve internal control as part of an organization’s management system.

What is water efficiency management system?

It includes monitoring, measurement, documentation, reporting, design and procurement practices for equipment, systems, processes and personnel training that contribute to water efficiency management. It is applicable to organisations of all types and sizes that use water and is focused on end-use consumers.