Since its publication in 2004, PAS 55 has been an international success story. That’s why we’ve transformed it to become an international standard, which is available in three parts:
ISO 55000 provides the overview, concepts and terminology for Asset Management
ISO 55001 specifies the requirements for an effective Asset Management System
ISO 55002 offers interpretation and guidance for such a system to be implemented.
PAS 55 is applicable to any organization where physical assets are a key or critical factor in achieving its business goals. It was published in response to demand from industry for a standard for asset management.
To ensure consistency with other related management system standards and to facilitate its alignment or integration, it was considered that asset management would be best standardized as a specification, with the information on implementing asset management distilled into key requirements. The criterion for including such requirements has been that, without them, the asset management system would be regarded as deficient.
The standard is split into two parts:
Part 1 - Specification for the optimized management of physical infrastructure assets
Part 2 - Guidelines for the application of PAS 55-1
Part 1 of PAS 55 specifies the requirements for an asset management system for the management of physical assets and asset systems over their life cycles. The management of physical assets is inextricably linked to the management of other asset types and these other asset types are considered within the asset management system insofar as they have a direct impact on the management of physical assets.
For example, the optimal life cycle management of physical assets is heavily dependent...