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8/11/2019 Business Drivers & PAS 55 Background
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EA Technology Limited 2012
Asset management
Business drivers & PAS 55 background
8/11/2019 Business Drivers & PAS 55 Background
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EA Technology Limited 2012
Topics
Asset Management
What is asset management?
Whats in it for you?
The business drivers
Stakeholders
Business structure
PAS 55 background
PAS 55:2008 outl ine
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Discussion
What does asset management mean to
you?
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What is Asset Management?
The core business for organisations that
are heavily dependent on physical
equipment, systems and infrastructure *
* John Woodhouse, What is Asset Management in2010
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What its NOT
Maintenance- Looking after an asset is only one part of the story
An investment portfolio- The financial services sector uses the same term, but the
meaning is very different
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Why?
According to the Institute of Asset
Management:
The management of physical assets (their
selection, maintenance, inspection and renewal)plays a key role in determining the operational
performance and profitability of industries that
operate assets as part of their core business. *
* http://www.theiam.org
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Why?
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Why?
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Why?
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What is Asset Management?
An ongoing dilemma
Cost to buy
Cost to maintain
Cost to replace
Performance
Avoidance of failure
Regulatory drivers
with many stakeholders
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Team exercise
Who do you think are your stakeholders?
Who influences your decisions?
Who is affected by your decisions?
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Stakeholders
You!
Customers Community
National government
Local government
Company executives Staff
Regulators
Environmental groups Legislators
Shareholders
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Stakeholders
Assetowner
Assetmanager
Service
provider
Return on investment
Liabilities Licence conditions
Reliability and performance
Value for money Policy and procedures
Contracts
Delivery and compliance Profit and cost
Resourcing and skills
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Why PAS 55?
Growing consensus on best practice
Industry wanted a standard
Consultation with a number of industries
First published in 2004
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What is PAS55?
Created by asset management
professionals
Led by the Institute of Asset
Management (IAM)
Sponsored by industry
Wide-ranging review panel
Publicly Available Specification
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What is PAS55?
Defines Asset Management
Good practice guide
Something you can benchmark
against
Compliance demonstrates
competence
Latest version is PAS 55:2008 ISO 55000 project underway
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PAS55 scope
Create/
acquireUtilize Maintain
Renew/
dispose
Manage assets
Manage asset systems
Manage asset portfol io
Corporate
management
PAS 55 Asset
management
system
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Break
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Strengths
Weaknesses
Opportunities
Threats