PAS 55 provides detailed guidance and examples of good practice in all facets of acquiring, owning and ultimately disposing of physical assets. A 28-point checklist is included for good practices in life cycle planning, cost/risk optimisation and joined-up thinking, and an extensive glossary of key terms.

ISO 55000 is an international standard covering management of assets of any kind. Before it, a Publicly Available Specification (PAS 55) was published by the British Standards Institution in 2004 for physical assets. The ISO 55000 series of Asset Management standards [1][2] was launched in January 2014.

Applying PAS 55 can help your organization demonstrate a high level of professionalism in whole life cycle management of its physical assets. Use it to help you: Establish an asset management system to optimally and sustainably manage physical assets; Implement, maintain and improve an asset management system

In 2002-2004 the Institute of Asset Management (IAM) in conjunction with British Standards Institution (BSI) developed PAS 55, the first publicly available specification for optimised management of physical assets.

PAS 55 is the first British Standards Institution (BSI) Publicly Available Specification (PAS) for optimising physical asset management. It was produced in 2004 and revised in 2008 (PAS 55:2008), under the sponsorship and leadership of the Institute of Asset Management (IAM).

Part 1 Asset management. Specification for the optimised management of physical infrastructure assets. Part 2 Asset management. Guidelines for the application of PAS 55-1.

Providing information on ISO 55000 Standards, PAS 55, maturity assessments, classroom courses, online-learning, implementation and strategic asset management planning

Nov 3, 2010 · Unless mandated by regulatory bodies, standards compliance is voluntary; however, it demonstrates an organization’s commitment to quality, performance or safety.PAS 55 is a general standard for managing physical assets. Thus, it is particularly relevant for asset-intensive enterprises.

Nov 30, 2011 · In simple terms, PAS 55 is a clear, internationally recognized definition of what good asset management means. By its IAM definition, “BSI PAS 55:2008 is the international reference standard for the optimal management of physical assets, providing the definition of good practice in the whole life management of assets.

By highlighting key elements of alignment and differences between PAS 55 and the BS ISO 55000 series, this guide will help you to quickly get to grips with the new standards.