PAS 55 defines asset management. The internationally recognized specification outlines best practice for managing your assets in line with the rest of your business. PAS 55 provides clear guidance on building an asset management system that brings strategy and day-to-day action together, allowing you to run a more efficient business.  

The specification applies to any organization where physical assets are central to your business – it has been adopted by many industries worldwide, including utilities, mining and manufacturing. PAS 55 is divided into two parts: part 1 provides specifications for managing physical assets; and part 2 gives guidance on applying the specification to your business. It was first published in 2003 and developed by 50 organizations from 15 different industries. It was revised in 2008 and is now being used as the basis for a new series of ISO 55000 Asset Management standards.

• Use the 28-point checklist to for better overall long-term planning
• Monitor and improve the way you manage your physical assets
• Achieve legal and regulatory compliance and better customer service
• Enjoy increased support for risk and sustainability management
• Prepare for the full lifecycle with more control over costs 

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