BS PAS 55-1:2008

BS PAS 55-1:2008 specifies therequirements for an asset management system for themanagement of physical assets and asset systems overtheir life cycles. The management of physical assets is,however, inextricably linked to the management ofother asset types (see Figure 2) and these other assettypes are considered within the asset managementsystem insofar as they have a direct impact on themanagement of physical assets.NOTE For example, the optimal life cycle managementof physical assets is heavily dependent upon informationand knowledge, human assets and financial resources,and often has a significant impact on reputation andcustomer satisfaction.BS PAS 55-1:2008 is applicable to all sizes of business, from smallto medium enterprises through to multinationals, andto any organization that wishes to:a) establish an asset management system to optimallyand sustainably manage its physical assets over theirlife cycles or over a defined long-term period;NOTE There may be an organizational need to manageasset systems optimally for an indefinite period into thefuture i.e. in perpetuity, in which case the defined longtermperiod should align with the time horizon of theorganizational strategic plan and should include the lifecycles of critical assets.b) implement, maintain and improve an assetmanagement system;c) assure itself of its compliance with its stated assetmanagement policy and strategy;d) demonstrate such compliance to others;e) seek certification/registration of its assetmanagement system by an external organization;f) make a self-determination and self-declaration ofcompliance with BS PAS 55-1:2008.Cross References:PAS 99:2006BS 8900:2006BS EN ISO 9000:2005 BS EN ISO 9001:2000BS EN ISO 14001:2004BS OHSAS 18001:2007ISO Guide 72:2001PD ISO/IEC Guide 73:2002BS 3811:1993BS 3843-1:1992BS 3843-2:1992BS 3843-3:1992BS 25999-1:2006BS 25999-2:2007BS EN ISO 9004:2000ISO/IEC 15288:2002 OHSAS 18002:2000Replaces PAS 55-1:2003 which remains current until March 2010.