PUßLICLY AVAILAßLE 5PECIfICATION

PA5 55-2.2008
Assel Managemenl
IC5 code. 03.100.01
NO COPYlNC WlTHOUT 8Sl PLPMlSSlON LXCLPT AS PLPMlTTLD 8Y COPYPlCHT LAW
Part 2. Cuidelines lor lhe applicalion
ol PAS 55-!
www.IheIAM.org
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PA5 55-2.2008
© ß5I Seplember 2008
i
PubIishing and copyright in!ormation
1he 8SI copyrighI hoIice displayed ih Ihis documehI ihdicaIes wheh Ihe documehI
was lasI issued.
1he !ollowihg 8SI re!erehces relaIe Io Ihe work oh Ihis sIahdard:
PubIication history
FirsI published as ParI 1 ahd ParI 2, April 2004
FirsI (presehI) ediIioh as ParI 1 ahd ParI 2, SepIember 2008
This PubIicIy AvaiIabIe 5peci!ication comes into e!!ect on 15 5eptember 2008.
© ß5I 5eptember 2008
lS8N. 978 0 580 50976 6
AcknovIedgement
The developmenl ol lhis Publicly Available Specilicalion (PAS) has been led by lhe lnslilule ol
Assel Managemenl (lAM), in collaboralion wilh lhe 8rilish Slandards lnslilulion (8Sl), wilh lhe
assislance ol lhe lollowing co-operaling organizalions and individuals.
º 1ohh Woodhouse
Pro|ecI Chairmah, IAM
º Aled Williams
NaIiohal Grid
º Dr Navil SheIIy
AIkihs
º Mike Dixoh
LDF Lhergy
º Pro! SIeveh Male
UhiversiIy o! Leeds
º Rhys Davies
Lloyd's RegisIer
DeveIopment team
º Moss MusIa!a
º Ursula 8ryah
NaIiohal Grid
º PeIer 1ay
1he Woodhouse ParIhership
º Alex 1homsoh
1he Woodhouse ParIhership
º AMCL
º AM1-Sybex
º AIkihs
º AIlahIic LNG Co o! 1rihidad
& 1obago
º 8AL SysIems (OperaIiohs) LId
º 8C 1rahsmissioh CorporaIioh
º CL LlecIric UK
º CLP Power
º CohIihuoh
º LDF Lhergy NeIworks
º L.ON CehIral NeIworks
º L.ON UK
º LssehI NeIwerk
º Fihgrid Oy|
º Gas 1rahsporI Services 8.V.
º GeomeIria
º GV8
º GuIIeridge Haskihs & Davey
(GHD)
º Halcrow
º Hydro Ohe NeIworks Ihc
º KLMA
º Lloyd's RegisIer
º Logica
º Lohdoh Uhdergrouhd
º M1R CorporaIioh LimiIed
º NaIiohal Grid
º NA1S
º NeIwork Rail
º P8 Power
º O!!ice o! Ihe PPP ArbiIer
º ScoIIish WaIer
º ScoIIishPower Lhergy NeIworks
º 1ehheI
º 1he Woodhouse ParIhership
º 1ube Lihes
º UMS Group
º Cahadiah Gas AssociaIioh
º CIRIA
º LNA (AusIralia)
º HealIh & Sa!eIy LxecuIive
º IhIerhaIiohal WaIer AssociaIioh
º NoIIihgham UhiversiIy
º UhiversiIy o! MahchesIer
º O!gem
º O!!ice o! Ihe Rail RegulaIor
º Royal IhsIiIuIioh o!
CharIered Surveyors
º RWS
º SouIherh A!ricah MaihIehahce
AssociaIioh (SAMA)
º UhiversiIy o! Leeds
Photographs
1he cohIribuIioh o! phoIographs
!rom Ihe !ollowihg orgahizaIiohs
is graIe!ully ackhowledged:
º LDF Lhergy
º LuroIuhhel
º Lloyd's RegisIer
º NaIiohal Grid
º ScoIIish WaIer
º 1he Woodhouse ParIhership
º UhiIed UIiliIies
1he reproducIioh o! ahy o! Ihese
phoIographs is hoI permiIIed.
5teering Group ßeviev PaneI
RepresehIaIives o! Ihe !ollowihg orgahizaIiohs were parI o! Ihe
review pahel !or Ihe developmehI o! Ihis PAS:
Associates
Amd. No. Date Comments
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PA5 55-2.2008
© ß5I Seplember 2008
ii
Conlenls
Page
AckhowledgemehI
..........................................................................................................
i
Foreword
................................................................................................................................
iii
0 Introduction
.....................................................................................................................
v
1 5cope
....................................................................................................................................
1
2 ße!erence pubIications
..............................................................................................
1
3 Terms and de!initions
................................................................................................
1
4 Asset management system requirements
....................................................
2
4.1 Geheral requiremehIs
............................................................................................
2
4.2 AsseI mahagemehI policy
...................................................................................
4
4.3 AsseI mahagemehI sIraIegy, ob|ecIives ahd plahs
.............................
6
4.4 AsseI mahagemehI ehablers ahd cohIrols
...............................................
18
4.5 ImplemehIaIioh o! asseI mahagemehI plah(s)
......................................
36
4.6 Per!ormahce assessmehI ahd improvemehI
............................................
42
4.7 MahagemehI review
..............................................................................................
53
ßibIiography
.........................................................................................................................
55
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PA5 55-2.2008
© ß5I Seplember 2008
iii
1he requiremehIs speci!ied ih PAS 55-1 are
reproduced ih Ihe ouIlihed boxes ahd Ihe
associaIed guidahce appears beheaIh Ihese boxes.
ConsuItation
1his PAS has beeh developed ih cohsulIaIioh wiIh a
large humber o! orgahizaIiohs ahd ihdividuals IhaI are
acIive ahd pro!iciehI ih Ihe !ield o! asseI mahagemehI
(see AckhowledgemehIs).
PubIishing in!ormation
1his PAS comes ihIo e!!ecI oh 15 SepIember 2008.
1his PAS has beeh prepared ahd published by 8SI,
which reIaihs iIs owhership ahd copyrighI. 8SI reserves
Ihe righI Io wiIhdraw or amehd Ihis PAS oh receipI o!
auIhoriIaIive advice IhaI iI is appropriaIe Io do so.
1his PAS will be reviewed aI ihIervals hoI exceedihg
Iwo years, ahd ahy amehdmehIs arisihg !rom Ihe
review will be published as ah amehded PAS ahd
publicized ih Update Standards.
This PA5 is not to be regarded as a ßritish 5tandard.
5upersession
PAS 55-1:2008 ahd PAS 55-2: 2008 supersede
PAS 55-1:2004 ahd PAS 55-2:2004, which remaih
currehI ahd obsolescehI uhIil 1 March 2010 wheh
Ihey will be wiIhdrawh.
NOT£ Co:o|e:cence |: dec|ared where |he con|en| o| a
:|andard, wh|ch |: :uper:eded oy new prov|:|on: (|n |he
|orm o| a new :|andardì, :|||| re|a|n: a commerc|a| need
or re|evance (|o a :pec|||c |echno|oçy, |ndu:|ry or proce::ì.
1he documen| |: :uper:eded ou| || |: no| w||hdrawn.
loreword
This parl ol PAS 55 (PAS 55-2) conlains guidelines lor lhe applicalion ol PAS 55-!.
Please nole lhal lhe lerms and delinilions are conlained in PAS 55-!, and are nol
repealed in lhis parl. The presenlalion slyle is similar lo lhal adopled in 8S LN lSO
9004 and OHSAS !8002.
In!ormation about PA5 55.2008
PAS 55-1:2004 ahd PAS 55-2:2004 have beeh !ully
revised as !ollows:
1he revisioh o! PAS 55-1:2004 ihIroduces Ihe !ollowihg
prihcipal chahges:
º 1he Ierm "ih!rasIrucIure" has beeh removed !rom
Ihe titIe o! Ihe PAS,
º 1he forevord ahd Introduction have beeh revised,
º figure 1 has beeh Irahs!erred ahd adapIed !rom
PAS 55-2:2004,
º figures 2, 4 and 6 have beeh revised ahd figures 3
and 5 are hew,
º New de!initions have beeh added, ahd exisIihg
de!ihiIiohs revised,
º AsseI mahagemehI ob|ecIives ahd asseI mahagemehI
IargeIs are how |oihIly re!erred Io as asset
management objectives, ahd Iheir de!ihiIioh has
beeh revised accordihgly (see 3.5),
º 1he secIioh oh Asset management pIan(s) (see 4.3.3)
has beeh exIehded Io more clearly idehIi!y Ihe
requiremehIs !or opIimizihg plahs ahd Ihe
ihIeracIioh beIweeh li!e cycle phases,
º 1he requiremehIs !or emergehcy preparedhess ahd
respohse have beeh exIehded Io ihclude cohIihuiIy
plahhihg ahd Ihe secIioh has beeh rehamed
"Contingency pIanning" (see 4.3.4),
º A hew secIioh "Asset management enabIers and
controIs" (see 4.4) has beeh creaIed Io cohsolidaIe
Ihe geheric requiremehIs o!: sIrucIure, auIhoriIy ahd
respohsibiliIies, Iraihihg awarehess ahd compeIehce,
commuhicaIioh, parIicipaIioh ahd cohsulIaIioh, asseI
mahagemehI sysIem documehIaIioh, ih!ormaIioh
mahagemehI, risk mahagemehI, legal ahd oIher
requiremehIs, ahd mahagemehI o! chahge,
º New requiremehIs have beeh ihIroduced !or
Communication, participation and consuItation
(see 4.4.4),
º In!ormation management (see 4.4.6) brihgs IogeIher
Ihe requiremehIs o! Ihe previous clauses !or
"DocumehI, daIa ahd ih!ormaIioh cohIrol" ahd
"AsseI mahagemehI ih!ormaIioh sysIem",
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PA5 55-2.2008
© ß5I Seplember 2008
iv
º Management o! change is discussed ih a separaIe
clause (see 4.4.9),
º 1he requiremehIs ih Ihe !ormer "OperaIiohal
cohIrol" have beeh divided beIweeh
"ImpIementation o! asset management pIan(s)",
"Management o! change" ahd "Asset management
system documentation",
º "ImpIementation o! asset management pIan(s)" has
beeh expahded Io address Ihe Li!e cycIe phases o!
mahagihg asseIs (see 4.5),
º New requiremehIs !or EvaIuation o! compIiance have
beeh ihIroduced (see 4.6.3),
º "Checkihg ahd correcIive acIioh" has beeh rehamed
"Per!ormance assessment and improvement"
(see 4.6), wiIh Ihe sIrucIure !or Ihe sub-clauses
adapIed !rom Ihose described ih PAS 99 ahd ISO
Guide 72, ahd
º New requiremehIs have beeh ihIroduced !or
Management reviev (see 4.7).
Ih addiIioh Io Ihe above chahges made Io PAS 55-
1:2004, Ihe revisioh o! PAS 55-2:2004 ihIroduces Ihe
!ollowihg prihcipal chahges:
º 1he Introduction has beeh revised,
º figures 1, 2 and 3 !rom PAS 55-2:2004 have beeh
revised ahd how appear as figure 1, 2 and 4 ih
PAS 55-2:2008. figures 3 and 5 are hew addiIiohs
Io PAS 55-2:2008,
º New guidahce has beeh ihIroduced !or Contingency
pIanning (see 4.3.4), ahd
º New guidahce !or EvaIuation o! compIiance has beeh
ihIroduced (see 4.6.3).
PresentationaI conventions
1he requiremehIs o! PAS 55-1 are reproduced ih
ouIlihed boxes. LxplahaIory guidahce, commehIary oh,
ahd geheral ih!ormaIioh abouI, Ihese requiremehIs is
presehIed ih romah (i.e. uprighI) Iype. SupplemehIary
hoIes ahd !urIher guidahce are presehIed ih smaller,
iIalics !ohI.
1he word "should" is used Io express recommehdaIiohs
wiIhih PAS 55-2. 1he word "may" is used ih Ihe IexI Io
express permissibiliIy, e.g. as ah alIerhaIive Io Ihe
primary recommehdaIioh o! Ihe clause. 1he word
"cah" is used Io express possibiliIy, e.g. a cohsequehce
o! ah acIioh or ah evehI.
NoIes ahd commehIaries are provided IhroughouI Ihe
IexI o! Ihis PAS. NoIes give re!erehces ahd addiIiohal
ih!ormaIioh IhaI are imporIahI buI do hoI !orm parI
o! Ihe recommehdaIiohs. CommehIaries give
backgrouhd ih!ormaIioh.
ContractuaI and IegaI considerations
1his publicaIioh does hoI purporI Io ihclude all Ihe
hecessary provisiohs o! a cohIracI. Users are respohsible
!or iIs correcI applicaIioh.
CompIiance vith this PA5 cannot con!er immunity
!rom IegaI obIigations.
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PA5 55-2.2008
© ß5I Seplember 2008
v
0 lnlroduclion
PAS 55-1 de!ihes asseI mahagemehI as:
systematic and coordinated activities and practices
through which an organization optimally and
sustainably manages its assets and asset systems,
their associated performance, risks and
expenditures over their life cycles for the purpose
of achieving its organizational strategic plan
1his de!ihiIioh o! asseI mahagemehI represehIs a
sighi!icahIly greaIer scope Ihah |usI Ihe maihIehahce
or care o! physical asseIs, ahd is closer Io Ihe cehIral
purpose o! ah orgahizaIioh. Good asseI mahagemehI
0.1 What is asset management?
cohsiders ahd opIimizes Ihe coh!licIihg prioriIies
o! asseI uIilizaIioh ahd asseI care, o! shorI-Ierm
per!ormahce opporIuhiIies ahd lohg-Ierm
susIaihabiliIy, ahd beIweeh capiIal ihvesImehIs ahd
subsequehI operaIihg cosIs, risks ahd per!ormahce.
"Li!e cycle" asseI mahagemehI is also more Ihah
simply Ihe cohsideraIioh o! capiIal cosIs ahd operaIihg
cosIs over pre-deIermihed asseI "li!e" assumpIiohs.
1ruly opIimized, whole li!e asseI mahagemehI
ihcludes risk exposures ahd per!ormahce aIIribuIes,
ahd cohsiders Ihe asseI's ecohomic li!e as Ihe resulI
o! ah opIimizaIioh process (depehdihg upoh Ihe
desigh, uIilizaIioh, maihIehahce, obsolescehce ahd
oIher !acIors).
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integrated
susIaihable
holisIic
sysIemaIic
sysIemic
risk-based
opIimal
PA5 55-2.2008
© ß5I Seplember 2008
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AsseI mahagemehI is ah holisIic view ahd ohe IhaI
cah uhiIe di!!erehI parIs o! ah orgahizaIioh IogeIher
ih pursuiI o! shared sIraIegic ob|ecIives. PAS 55-1
idehIi!ies key prihciples ahd aIIribuIes o! success!ul
asseI mahagemehI (see figure 1). 1hese cah be
explaihed as !ollows:
º hoIistic: lookihg aI Ihe whole picIure, i.e. Ihe
combihed implicaIiohs o! mahagihg all aspecIs
(Ihis ihcludes Ihe combihaIioh o! di!!erehI asseI
Iypes, see figure 3, Ihe !uhcIiohal ihIerdepehdehcies
ahd cohIribuIiohs o! asseIs wiIhih asseI sysIems, see
figure 4, ahd Ihe di!!erehI asseI li!e cycle phases
ahd correspohdihg acIiviIies), raIher Ihah a
comparImehIalized approach,
º systematic: a meIhodical approach, promoIihg
cohsisIehI, repeaIable ahd audiIable decisiohs
ahd acIiohs,
º systemic: cohsiderihg Ihe asseIs ih Iheir asseI sysIem
cohIexI ahd opIimizihg Ihe asseI sysIems value
(ihcludihg susIaihable per!ormahce, cosI ahd risks)
raIher Ihah opIimizihg ihdividual asseIs ih isolaIioh,
º risk-based: !ocussihg resources ahd expehdiIure,
ahd seIIihg prioriIies, appropriaIe Io Ihe idehIi!ied
risks (see 4.4.7) ahd Ihe associaIed cosI/behe!iIs,
º optimaI: esIablishihg Ihe besI value compromise
(see 4.3.3.2) beIweeh compeIihg !acIors, such as
per!ormahce, cosI ahd risk, associaIed wiIh Ihe asseIs
over Iheir li!e cycles,
º sustainabIe: cohsiderihg Ihe lohg-Ierm cohsequehces
o! shorI-Ierm acIiviIies Io ehsure IhaI adequaIe
provisioh is made !or !uIure requiremehIs ahd
obligaIiohs (such as ecohomic or ehvirohmehIal
susIaihabiliIy, sysIem per!ormahce, socieIal
respohsibiliIy ahd oIher lohg-Ierm ob|ecIives),
º integrated: recoghizihg IhaI ihIerdepehdehcies ahd
combihed e!!ecIs are viIal Io success. 1his requires a
combihaIioh o! Ihe above aIIribuIes, coordihaIed Io
deliver a |oihed-up approach ahd heI value.
figure 1 - Key prihciples ahd aIIribuIes
o! asseI mahagemehI
0.2 Dimensions o! joined-up asset management
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PA5 55-2.2008
© ß5I Seplember 2008
vii
0.3 EnabIers !or good asset management
1he !ollowihg ehablihg elemehIs are also
cohsidered Io be essehIial !or Ihe success!ul
implemehIaIioh o! Ihese prihciples:
º ah orgahizaIiohal sIrucIure IhaI !aciliIaIes Ihe
implemehIaIioh o! Ihese prihciples wiIh clear
direcIioh ahd leadership,
º sIa!! awarehess, compeIehcy, commiImehI ahd
cross-!uhcIiohal coordihaIioh,
º adequaIe ih!ormaIioh ahd khowledge o! asseI
cohdiIioh, per!ormahce, risks ahd cosIs, ahd Ihe
ihIerrelaIiohships beIweeh Ihese.
PAS 55-1 ihdicaIes IhaI good asseI mahagemehI
requires coherehI direcIioh ahd guidahce !rom
Iop mahagemehI ahd delivery by appropriaIely
empowered ahd compeIehI employees. Uhless a
clearly arIiculaIed orgahizaIiohal direcIioh ahd seI o!
prioriIies are provided, iI is very di!!iculI Io deIermihe
how besI Io mahage Ihe asseIs. Coh!licIihg prioriIies
ahd messages, ahd/or Ihe lack o! sIa!! uhdersIahdihg
o! such aspiraIiohs, or Ihe lack o! cross-!uhcIiohal
collaboraIioh Io deliver Ihem, cah lead Io ihe!!iciehI
ahd ihe!!ecIive workihg ahd wasIed e!!orI ahd
resources, as well as cohsiderable !rusIraIioh ahd
de-moIivaIioh. For some orgahizaIiohs Ihis may require
a chahge ih culIure, hew behaviours ahd ways o!
Ihihkihg. 1here are, Ihere!ore, a humber o! imporIahI
"ehablers" !or good asseI mahagemehI (explaihed
!urIher ih 4.4). 1hese have a sighi!icahI ih!luehce oh
Ihe e!!ecIivehess ahd e!!iciehcy o! ah asseI
mahagemehI sysIem ahd ihclude:
º sIrucIure, auIhoriIy ahd respohsibiliIies,
º ouIsourcihg o! asseI mahagemehI acIiviIies,
º Iraihihg, awarehess ahd compeIehce,
º commuhicaIioh, parIicipaIioh ahd cohsulIaIioh,
º asseI mahagemehI sysIem documehIaIioh,
º ih!ormaIioh mahagemehI,
º risk mahagemehI,
º legal ahd oIher requiremehIs,
º mahagemehI o! chahge.
0.4 Decision making in asset management
Good decisioh makihg is also viIal ih |oihed-up asseI
mahagemehI. 1his requires adequaIe ih!ormaIioh
abouI Ihe asseIs ahd Iheir associaIed sIrehgIhs,
weakhesses, opporIuhiIies ahd IhreaIs. Ih parIicular,
iI is imporIahI Io uhdersIahd Ihe relaIiohship beIweeh
asseI mahagemehI acIiviIies ahd Iheir acIual or
poIehIial e!!ecI upoh shorI-Ierm ahd lohg-Ierm cosIs,
risks, per!ormahce ahd asseI li!e cycles (or asseI sysIem
susIaihabiliIy). Ohly Iheh cah ih!ormed decisiohs be
made abouI Ihe opIimal mix o! li!e cycle acIiviIies (such
as desigh/selecIioh, acquisiIioh/cohsIrucIioh, uIilizaIioh,
maihIehahce, rehewal, modi!icaIioh/ehhahcemehI,
decommissiohihg or disposal). Ih mahy orgahizaIiohs,
Ihere are will be more poIehIial Iasks Io carry ouI Ihah
resources, Iime or budgeIs will permiI. 1he cohIihuous
opIimizihg ahd prioriIizihg o! Iasks ahd plahs are a
way o! li!e !or such orgahizaIiohs.
1here are humerous Iools ahd meIhodologies
associaIed wiIh asseI mahagemehI IhaI are widely
available ahd employed by orgahizaIiohs. Such Iools
ihclude value ehgiheerihg, li!e cycle cosIihg, reliabiliIy
cehIred maihIehahce, risk based ihspecIioh, IoIal
producIive maihIehahce, cosI/risk opIimizaIioh, eIc.
However, iI is essehIial !or orgahizaIiohs Io recoghize
IhaI good asseI mahagemehI cahhoI be achieved
success!ully Ihrough Ihe use o! Ihese Iools alohe,
ahd ho sihgle such Iool cah address, cohIrol or solve
all Ihe problems.
0.5 Asset-reIated risks
Where possible, per!ormahce requiremehIs ahd
sighi!icahI risks, such as asseI !ailure, heed Io be
quahIi!ied ih !ihahcial Ierms Io ehable like-!or-like
comparisoh ahd !or Ihe associaIed expehdiIure Io
be seI accordihgly. For example, ih some ihsIahces iI
could be more cosI e!!ecIive Io allow ah asseI Io ruh
Io !ailure, whilsI ih oIher cases ah ihcrease ih
maihIehahce expehdiIure or capiIal ihvesImehI mighI
be more appropriaIe. II is hoI always possible Io place
a direcI moheIary value oh Ihe risks or per!ormahce
associaIed wiIh asseI relaIed expehdiIure. However,
orgahizaIiohs cah do so ihdirecIly by Iurhihg Ihe
quesIioh arouhd ahd askihg, !or example, "WhaI
would we be prepared Io pay Io avoid harm Io our
repuIaIioh?".
0.6 5ustainabiIity
SusIaihable developmehI is ah ihcreasihgly imporIahI
cohsideraIioh wiIhih Ihis overall cohIexI. Ih Ihis
respecI, susIaihable developmehI is cohcerhed wiIh
ehsurihg ah appropriaIely lohg-Ierm approach Io
ecohomic acIiviIy, ehvirohmehIal respohsibiliIy ahd
social progress. 1his is seI ouI more !ully ih 8S 8900.
1he reasohs !or Ihis ihcreasihg imporIahce cah be
!ouhd ih Ihe sIrohg lihks beIweeh e!!ecIive asseI
mahagemehI ahd lohg-Ierm susIaihabiliIy ih several
mahi!esIaIiohs:
º L!!ecIive mahagemehI o! a haIioh's ih!rasIrucIure is
ah uhderlyihg compohehI o! success!ul ecohomies.
WiIhouI appropriaIe developmehI o! Ihis
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ih!rasIrucIure over Iime, Ihe ecohomy will su!!er.
º AsseI mahagihg orgahizaIiohs cah have a huge
impacI oh Ihe ehvirohmehI. 1his is Irue !rom Ihe
viewpoihI o! Ihe raw maIerials Ihey cohsume
(wheIher iI is waIer resources, !ossil !uels or oIher
raw maIerials used) or Ihe emissiohs released ih Ihe
cohsIrucIioh ahd operaIioh o! Ihese asseIs (boIh ih
Ihe !orm o! wasIe maIerials ahd greehhouse gases
IhaI may cohIribuIe Io climaIe chahge).
º Physical ih!rasIrucIure asseIs provide a !ouhdaIioh
sIohe o! socieIal developmehI, deliverihg power ahd
warmIh, waIer ahd sahiIaIioh, ahd Ihe buildihg
sIrucIures ahd IrahsporI lihks IhaI allow socieIy Io
!lourish. As such, physical asseIs are a key ehabler
!or mahy social sIrucIures. Much o! Ihis ih!rasIrucIure
is o! lohg li!e ahd delivers service !rom ohe
geheraIioh Io Ihe hexI, helpihg Io ehsure IhaI
Ihese socieIal sIrucIures are ehdurihg.
0.7 Asset management chaIIenges
Ih order Io achieve iIs orgahizaIiohal sIraIegic plah
ahd provide Ihe assurahce iIs sIakeholders seek, ah
orgahizaIioh heeds Io ask, ahd Io be able Io ahswer,
Ihe !ollowihg key quesIiohs:
º Do we khow whaI (exisIihg) asseIs we have, where
Ihey are, whaI cohdiIioh Ihey are ih, whaI !uhcIioh
Ihey per!orm ahd Iheir cohIribuIioh Io value? Do we
khow Ihe qualiIy o! Ihis ih!ormaIioh?
º Do we khow whaI we wahI !rom our asseIs ih Ihe
shorI, medium ahd lohg-Ierm?
º Cah our asseIs deliver our asseI mahagemehI
ob|ecIives cosI e!!ecIively?
º Are we geIIihg Ihe mosI value !rom our asseIs? (How
could we geI more value !or mohey !rom Ihem?)
º Do we have ehough capabiliIy (or over capaciIy) ih
our asseI porI!olio? Have some asseIs or asseI sysIems
become reduhdahI, uhderused, uhpro!iIable or
Ioo expehsive?
º Are we coh!idehI IhaI Ihe risks o! our asseIs causihg
harm Io people ahd Ihe ehvirohmehI are Iolerable
ahd aI orgahizaIiohal/legally accepIed levels?
º Is our asseI-relaIed expehdiIure (capiIal ihvesImehI
ahd operaIihg cosIs) ihsu!!iciehI, excessive or opIimal
ahd correcIly assighed across Ihe asseI porI!olio?
º Cah we readily evaluaIe Ihe behe!iIs (per!ormahce,
risk reducIioh, compliahce, susIaihabiliIy) o! proposed
work or ihvesImehI ahd, cohversely, quahIi!y Ihe
IoIal impacI Io Ihe orgahizaIioh o! hoI per!ormihg
such work, hoI ihvesIihg or delayihg such acIiohs?
º Are we allowihg !uIure problems Io develop (such
as per!ormahce deIerioraIioh, risks, expehdiIure
requiremehIs) ih our e!!orIs Io obIaih shorI-Ierm
gaihs?
º Have we giveh due cohsideraIioh Io Ihe oIher
aspecIs o! Ihe orgahizaIioh IhaI a!!ecI our asseI
mahagemehI plah(s), such as people, khowledge,
!ihahce ahd ihIahgible asseIs? Cohversely, have we
cohsidered Ihe impacI o! our asseI mahagemehI
plah(s) oh Ihese oIher aspecIs?
º Do we review Ihe appropriaIehess o! our asseI
mahagemehI sIraIegy ih Ihe lighI o! chahges ih Ihe
operaIihg, regulaIory ahd !ihahcial ehvirohmehI?
º Are we cohIihually improvihg our asseI mahagemehI
sysIem per!ormahce, ahd realizihg Ihe behe!iIs o!
Ihe improvemehIs? Do we khow whaI ahd where
improvemehIs will be mosI e!!ecIive?
º Do we have Ihe hecessary asseI mahagemehI policy,
sIraIegy ahd plah Io ehsure IhaI we mahage our
asseIs ih a susIaihable way?
º Does our approach Io susIaihable mahagemehI o!
Ihe asseIs Iake appropriaIe accouhI o! Ihe heeds
o! our sIakeholders ahd are we opeh ih our
commuhicaIioh wiIh Ihese sIakeholders?
º Are Ihe workihg cohdiIiohs, skills ahd wellbeihg o!
our employees ahd cohIracIed service providers
giveh appropriaIe cohsideraIioh?
º Are we opIimizihg our asseI mahagemehI process(es)
ahd/or procedures ih Ihe lighI o! Ihe laIesI
developmehIs ih Iechhology ahd ihhovaIioh?
º Cah we ahswer all o! Ihese quesIiohs coh!idehIly,
wiIh a clear audiI Irail, ahd demohsIraIe Ihe ahswers
Io our sIakeholders?
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PA5 55-2.2008
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1his PAS is !ocussed primarily oh Ihe mahagemehI o!
physical asseIs, ahd oIher asseI Iypes are Ihere!ore
ohly cohsidered ih Ihis PAS ihso!ar as Ihey a!!ecI Ihe
opIimal mahagemehI o! Ihe physical asseIs. 1hese
ihIerdepehdehces are exIremely imporIahI ih Ihe
holisIic delivery o! asseI mahagemehI ob|ecIives
ahd, ulIimaIely, Ihe orgahizaIiohal sIraIegic plah.
1hese asseI Iypes, Ihe scope o! PAS 55, ahd Ihe viIal
uhdersIahdihg o! busihess cohIexI are illusIraIed
ih figure 2. 1he asseI mahagemehI sysIem should
recoghize such ihIerdepehdehcies ahd make
appropriaIe provisioh !or Ihe ihdirecI "ehablers" IhaI
are required Io opIimize Ihe value o! physical asseIs.
Cohversely, orgahizaIiohs IhaI are heavily depehdehI
upoh physical asseIs should also recoghize IhaI
de!iciehcies ih Ihe mahagemehI o! oIher asseI Iypes
may have a pro!ouhd impacI oh Ihe overall or lohg-
Ierm per!ormahce o! Iheir physical asseIs ahd Ihus
Iheir orgahizaIiohal per!ormahce. Such orgahizaIiohs
should recoghize IhaI all asseIs will heed Io be
mahaged ih ah ihIegraIed ahd holisIic mahher.
For example:
º human assets: Ihe behaviours, khowledge ahd
compeIehce o! Ihe work!orce have a !uhdamehIal
ih!luehce oh Ihe per!ormahce o! Ihe physical asseIs,
º !inanciaI assets: !ihahcial resources are required !or
ih!rasIrucIure ihvesImehIs, operaIioh, maihIehahce
ahd maIerials,
º in!ormation assets: good qualiIy daIa ahd
ih!ormaIioh are essehIial Io develop, opIimize ahd
implemehI asseI mahagemehI plah(s),
º intangibIe assets: Ihe orgahizaIioh's repuIaIioh ahd
image cah have a sighi!icahI impacI oh ih!rasIrucIure
ihvesImehI, operaIihg sIraIegies ahd associaIed cosIs.
0.8 Types o! assets
figure 2 - Focus ahd busihess cohIexI o! Ihis PAS ih relaIioh Io Ihe oIher caIegories o! asseIs
Important inter!ace. moIivaIioh,
commuhicaIioh, roles ahd
respohsibiliIies, khowledge,
experiehce, leadership, Ieamwork
Important inter!ace. li!e cycle
cosIs, capiIal ihvesImehI criIeria,
operaIihg cosIs, value o! asseI
per!ormahce
Important inter!ace. cohdiIioh, per!ormahce,
acIiviIies, cosIs ahd opporIuhiIies
Important inter!ace. repuIaIioh,
image, morale, cohsIraihIs,
social impacI
PhysicaI
Assets
VitaI context. busihess ob|ecIives, policies, regulaIioh,
per!ormahce requiremehIs, risk mahagemehI
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PA5 55-2.2008
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x
Ah ihIegraIed asseI mahagemehI sysIem is viIal !or
orgahizaIiohs IhaI are heavily depehdehI upoh
physical asseIs ih Ihe creaIioh or delivery o! Iheir
services or producIs. Large humbers o! asseIs, or
diversiIy characIerisIics o! asseIs ahd asseI sysIems,
parIicularly ih ah ehvirohmehI o! coh!licIihg
sIakeholder expecIaIiohs, !urIher ihcrease Ihe
imporIahce o! havihg a sysIemaIic approach Io
mahagihg Ihe asseI porI!olio.
1here are di!!erehI levels aI which asseI uhiIs cah
be idehIi!ied ahd mahaged - rahgihg !rom discreIe
equipmehI iIems or compohehIs Io complex !uhcIiohal
sysIems, heIworks, siIes or diverse porI!olios (see figure
3). Mahy orgahizaIiohs idehIi!y asseIs as equipmehI
uhiIs (someIimes re!erred Io as "maihIehahce
sighi!icahI iIems" - Ihe uhiI aI which maihIehahce
Iasks or work orders are direcIed), whereas oIhers
use Ihe Ierm Io describe !uhcIiohal sysIems or eveh
ihIegraIed busihess uhiIs. II does hoI maIIer aI whaI
such level ah asseI uhiI is idehIi!ied, provided IhaI:
º Ihe orgahizaIioh's goals ahd sIraIegic prioriIies are
direcIly re!lecIed ih Ihe asseI mahagemehI plah(s),
º Ihe asseI li!e cycle cosIs, risks ahd per!ormahce are
cohsidered ahd opIimized. (1his will usually require
de!ihiIioh o! clear asseI bouhdaries !or measurihg
per!ormahce, li!e cycle expehdiIures ahd aIIribuIihg
associaIed risks.),
º Ihe aggregaIiohs o! asseIs (Ihrough ihIegraIed asseI
sysIems) ahd cohIribuIiohs o! value (as parI o!
Ihe orgahizaIioh's porI!olio) are mahaged ih a
coordihaIed ahd cohsisIehI mahher,
º all parIs o! Ihe orgahizaIioh uhdersIahd ahd use
Ihe same Iermihology ih relaIioh Io Ihe asseIs,
Iheir compohehIs ahd Iheir asseI sysIem groupihgs
or aggregaIiohs.
As explaihed ih PAS 55-1, Ihis hierarchy brihgs
challehges ahd opporIuhiIies aI di!!erehI levels.
For example, discreIe equipmehI iIems may have
idehIi!iable ihdividual li!e cycles IhaI cah be opIimized,
whereas asseI sysIems may have ah ihde!ihiIe horizoh
o! required usage. SusIaihabiliIy cohsideraIiohs should,
Ihere!ore, be parI o! opIimized decisioh makihg. A
larger orgahizaIioh may also have a diverse porI!olio
o! asseI sysIems, each cohIribuIihg Io Ihe overall goals
o! Ihe orgahizaIioh, buI presehIihg widely di!!erehI
ihvesImehI opporIuhiIies, per!ormahce challehges
ahd risks. Ah ihIegraIed asseI mahagemehI sysIem
is Ihere!ore essehIial Io coordihaIe ahd opIimize Ihe
diversiIy ahd complexiIy o! asseIs ih lihe wiIh Ihe
orgahizaIioh's ob|ecIives ahd prioriIies.
1he asseI mahagemehI !ocus will Iehd Io di!!er aI Ihe
various levels o! asseI ihIegraIioh ih ah orgahizaIioh.
figure 3 shows examples o! prioriIies IhaI mighI be
evidehI aI Ihe di!!erehI levels o! asseI ihIegraIioh
ahd mahagemehI.
figure 3 - Levels o! asseIs ahd Iheir mahagemehI
TypicaI priorities and concerns
OrganizationaI strategic goaIs
Manage asset systems
Manage asset port!oIio
Corporatel
organization
management
PA5 55 Asset
management
system
UtiIize Maintain
ßenevl
dispose
OpIimize li!e
cycle acIiviIies
CapiIal ihvesImehI opIimizaIioh
ahd susIaihabiliIy plahhihg
SusIaihed per!ormahce,
cosI ahd risk opIimizaIioh
Manage assets
Createl
acquire
0.9 The asset management system
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Ihcreasihgly, sIakeholders (such as cusIomers, Ihe
public, regulaIors ahd shareholders) are seekihg
assurahce IhaI Ihe asseI mahagemehI sysIem will
deliver sa!eIy, cohIihuiIy o! service ahd !ihahcial
per!ormahce. OrgahizaIiohs are ever more sehsiIive Io
Ihe impacI IhaI adverse public opihioh ahd hegaIive
publiciIy cah have oh Iheir busihess wheh asseIs or
asseI sysIems !ail. For mosI orgahizaIiohs, Ihere!ore,
esIablishihg, implemehIihg ahd maihIaihihg a !ormal
asseI mahagemehI sysIem is ihcreasihgly becomihg
a hecessiIy raIher Ihah ah opIioh, ahd PAS 55 cah
!aciliIaIe Ihis.
Ah asseI mahagemehI sysIem is primarily desighed Io
supporI Ihe delivery o! ah orgahizaIiohal sIraIegic
plah, ih Iurh aimihg Io meeI Ihe expecIaIiohs o! a
varieIy o! sIakeholders. 1he orgahizaIiohal sIraIegic
plah is Ihe sIarIihg poihI !or developmehI o! Ihe asseI
mahagemehI policy, sIraIegy, ob|ecIives ahd plahs.
1hese, ih Iurh, direcI Ihe opIimal combihaIioh o!
li!e cycle acIiviIies Io be applied across Ihe diverse
porI!olio o! asseI sysIems ahd asseIs (ih accordahce
wiIh Iheir criIicaliIies, cohdiIioh ahd per!ormahce).
1his Iop-dowh cohhecIive Ihread is a key !eaIure o!
ah asseI mahagemehI sysIem - Ihe clear "lihe o! sighI"
!rom orgahizaIioh direcIioh ahd goals dowh Io
ihdividual, day-Io-day acIiviIies. Similarly, Ihe boIIom-
upwards mohiIorihg o! asseI characIerisIics, problems,
risks ahd opporIuhiIies should provide Ihe !acIual basis
!or ad|usIihg ahd re!ihihg realisIic asseI mahagemehI
sIraIegies ahd plahs, Ihrough a process o! cohIihual
improvemehI. FurIhermore, such asseI mahagemehI
realiIies should ih!orm ahd ih!luehce Ihe expecIaIiohs
o! sIakeholders ahd Ihe aspiraIiohs o! Ihe
orgahizaIiohal sIraIegic plah.
1he operaIiohal elemehIs (figure 4 shows such Iypical
elemehIs) ahd processes o! ah asseI mahagemehI
sysIem should be developed Io ehable such
cohhecIiviIy, ihIegraIioh, IoIal value opIimizaIioh
ahd cohIihual improvemehI.
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PA5 55-2.2008
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PA5 55 Asset management system eIements
SIakeholder expecIaIiohs,
ihIerhal ahd exIerhal
busihess drivers
AsseI mahagemehI ob|ecIives
are IighIly lihked Io asseI
mahagemehI sIraIegy
Developihg asseI mahagemehI
sIraIegy, ob|ecIives ahd plah(s) is
hormally ah iIeraIive process
Asset management poIicy
Asset management objectives
New asseI mahagemehI relaIed
meIhods ahd Iechhologies
ImpIementation o! asset
management pIan(s)
º Li!e cycle acIiviIies: cohsIrucI/acquire
asseIs, uIilize asseIs, maihIaih asseI,
rehew/dispose o! asseIs
º 1ools, !aciliIies ahd equipmehI
Outside the
scope o! PA5 55
Lohg Ierm asseI mahagemehI
plahs cah be !or ihdividual asseIs
or more ihIegraIed asseI sysIems
AsseI mahagemehI ehablers ahd
cohIrols ih!luehce ahd apply Io
all o! Ihe oIher elemehIs o! ah
asseI mahagemehI sysIem
CohIihual improvemehI cah
resulI ih chahges Io ahy
elemehIs, such as asseI
mahagemehI ob|ecIives or eveh
Ihe orgahizaIiohal sIraIegic plah
Asset management enabIers
and controIs
º SIrucIure, auIhoriIy ahd respohsibiliIies
º OuIsourcihg o! asseI mahagemehI acIiviIies
º 1raihihg, awarehess ahd compeIehce
º CommuhicaIioh, parIicipaIioh ahd cohsulIaIioh
º AsseI mahagemehI sysIem documehIaIioh
º Ih!ormaIioh mahagemehI
º Risk mahagemehI
º Legal ahd oIher requiremehIs
º MahagemehI o! chahge
OrganizationaI strategic pIan
º Visioh, missioh ahd values
º Policies
º Goals
º OrgahizaIiohal sIraIegies
Asset management strategy
Asset management pIan(s)
Per!ormance assessment
and improvement
º Per!ormahce ahd cohdiIioh mohiIorihg
º IhvesIigaIioh o! asseI-relaIed !ailures,
ihcidehIs ahd hohcoh!ormiIies
º LvaluaIioh o! compliahce
º AudiI
º ImprovemehI acIiohs
º Records
Management reviev
figure 4 1ypical elemehIs o! ah asseI mahagemehI sysIem
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1here is ho expliciI requiremehI !or Ihese elemehIs Io
be documehIed separaIely, ahd Ihe requiremehIs o!
PAS 55-1 cah be achieved Ihrough documehIs IhaI
are hoI exclusive Io asseI mahagemehI. However, Ihe
documehIaIioh describihg how physical asseIs will be
mahaged Io achieve Ihe orgahizaIiohal sIraIegic plah
heeds Io be adequaIely ih!ormaIive ahd uhambiguous.
1he asseI mahagemehI policy, ih parIicular, mahdaIes
Ihe direcIioh, prihciples ahd absoluIe requiremehIs,
ahd is a key driver !or Ihe asseI mahagemehI sysIem.
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PA5 55-2.2008
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!
1his parI o! PAS 55 (PAS 55-2) provides guidelihes
!or Ihe applicaIioh o! Ihe requiremehIs speci!ied ih
PAS 55-1. II provides guidahce oh Ihe esIablishmehI,
implemehIaIioh, maihIehahce ahd improvemehI o! ah
asseI mahagemehI sysIem ahd iIs coordihaIioh wiIh
oIher mahagemehI sysIems.
PAS 55-2 does hoI prescribe mahdaIory approaches,
meIhods or Iools !or Ihe implemehIaIioh o!
Ihe requiremehIs o! PAS 55-1, buI raIher aids
uhdersIahdihg ahd implemehIaIioh by meahs o!
examples ahd illusIraIiohs.
1his parI o! PAS 55 does hoI creaIe ahy addiIiohal
requiremehIs Io Ihose speci!ied ih PAS 55-1.
2 Pelerence publicalions
1here are ho hormaIive re!erehces aI presehI
(i.e. re!erehces ihdispehsable Io Ihe !ull compliahce
wiIh Ihis PAS).
Ih!ormaIive re!erehces (i.e. publicaIiohs IhaI provide
ih!ormaIioh or guidahce) are lisIed ih Ihe 8ibliography.
For daIed re!erehces, ohly Ihe ediIioh ciIed applies.
For uhdaIed re!erehces, Ihe laIesI ediIioh o! Ihe
re!erehced documehI (ihcludihg ahy amehdmehIs)
applies.
3 Terms and delinilions
For Ihe purposes o! Ihis parI o! PAS 55, Ihe Ierms ahd
de!ihiIiohs giveh ih PAS 55-1 apply.
1 Scope
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2
1he orgahizaIioh shall esIablish, documehI,
implemehI, maihIaih ahd cohIihually improve ah
asseI mahagemehI sysIem ih accordahce wiIh Ihe
requiremehIs o! Ihis PAS.
1he orgahizaIioh shall de!ihe ahd documehI Ihe
scope o! iIs asseI mahagemehI sysIem.
Where ah orgahizaIioh chooses Io ouIsource
ahy aspecI o! asseI mahagemehI IhaI a!!ecIs
coh!ormiIy Io Ihe requiremehIs o! CIause 4 o!
Ihis PAS, Ihe orgahizaIioh shall ehsure cohIrol
over such aspecIs ih accordahce wiIh Ihe
requiremehIs o! 4.4.2.
NOT£ 1h|: |A5 requ|re: |ha| orçan|za||on: e:|ao||:h,
|mp|emen| and ma|n|a|n an a::e| manaçemen| po||cy,
:|ra|eçy, oojec||ve: and p|an:. Iigure 5 |||u:|ra|e: |he
re|a||on:h|p oe|ween |he orçan|za||ona| :|ra|eç|c p|an
and |he:e e|emen|: o| |he a::e| manaçemen| :y:|em.
1he above requiremehI is a geheral sIaIemehI
cohcerhihg Ihe esIablishmehI ahd maihIehahce o! ah
asseI mahagemehI sysIem wiIhih ah orgahizaIioh.
"LsIablish" implies a level o! permahehcy ahd Ihe
sysIem should hoI be cohsidered esIablished uhIil all
iIs elemehIs have beeh demohsIrably implemehIed.
"MaihIaih" implies IhaI, ohce esIablished, Ihe sysIem
cohIihues Io operaIe appropriaIely - Ihis requires
acIive e!!orI oh Ihe parI o! Ihe orgahizaIioh. Mahy
sysIems sIarI well buI deIerioraIe due Io lack o!
review ahd maihIehahce. Several elemehIs o! PAS 55-1
(such as per!ormahce assessmehI ahd improvemehI 4.6,
ahd mahagemehI review 4.7) are desighed Io ehsure
acIive maihIehahce o! Ihe asseI mahagemehI sysIem.
Ah orgahizaIioh seekihg Io esIablish ah asseI
mahagemehI sysIem IhaI coh!orms Io PAS 55-1
should deIermihe iIs currehI posiIioh wiIh regard Io
iIs asseI mahagemehI by meahs o! a review (see 4.1.2).
Ih deIermihihg how iI will !ul!il Ihe requiremehIs
o! PAS 55-1, Ihe orgahizaIioh should cohsider Ihe
cohdiIiohs ahd !acIors IhaI a!!ecI, or could a!!ecI, iIs
asseI mahagemehI, whaI policies iI heeds, ahd how
iI will mahage iIs asseI mahagemehI risks. 1he level
o! deIail ahd complexiIy o! Ihe asseI mahagemehI
sysIem, Ihe exIehI o! Ihe documehIaIioh, ahd Ihe
resources devoIed Io iI, are depehdehI oh Ihe haIure
(size, sIrucIure, complexiIy) o! ah orgahizaIioh ahd
iIs acIiviIies.
4.1.1 Asset management system
OrgahizaIiohs seekihg Io esIablish asseI mahagemehI
sysIems IhaI coh!orm Io PAS 55-1 should !ollow Ihe
recommehdaIiohs ahd guidahce provided below.
a) 1he orgahizaIioh should esIablish ahd maihIaih ah
asseI mahagemehI sysIem IhaI coh!orms Io all o!
Ihe requiremehIs o! PAS 55-1. 1his should also assisI
Ihe orgahizaIioh ih meeIihg legal, regulaIory,
sIaIuIory ahd oIher asseI mahagemehI relaIed
requiremehIs IhaI are applicable Io iI.
b) 1he level o! deIail ahd complexiIy o! Ihe asseI
mahagemehI sysIem, Ihe exIehI o! documehIaIioh
ahd Ihe resources devoIed Io iI are depehdehI oh
Ihe size o! Ihe orgahizaIioh ahd Ihe haIure o! iIs
acIiviIies. 1he sysIem should be o! appropriaIe
depIh, deIail ahd coverage Io ehable Ihe
orgahizaIioh Io meeI all o! Ihe requiremehIs o!
PAS 55-1.
NOT£ 5ome orçan|za||on: ca|| |h|: an A::e| |anaçemen|
|eç|me or an A::e| |anaçemen| bu:|ne:: |ode|.
c) Ah orgahizaIioh has Ihe !reedom ahd !lexibiliIy Io
de!ihe Ihe bouhdaries o! Ihe asseI mahagemehI
sysIem ahd may choose Io implemehI PAS 55-1 wiIh
respecI Io Ihe ehIire orgahizaIioh, or Io speci!ic
operaIihg sysIems or uhiIs o! Ihe orgahizaIioh.
However, care should be Iakeh ih de!ihihg Ihe
bouhdaries ahd Ihe scope o! Ihe asseI mahagemehI
sysIem. 1he scope o! Ihe asseI mahagemehI sysIem
should cover Ihe !ull porI!olio o! asseIs IhaI
are required !or Ihe success!ul delivery o! Ihe
orgahizaIiohal sIraIegic plah ahd hoI exclude ahy
asseIs or asseI sysIems IhaI are criIical Io Ihe
busihess goals.
d) II is likely IhaI Ihe orgahizaIioh's asseI mahagemehI
sysIem draws upoh processes already ih exisIehce
ahd cohIrolled wiIhih iIs qualiIy, ehvirohmehIal
ahd healIh ahd sa!eIy mahagemehI sysIems, eIc.
While Ihere is ho heed Io esIablish a separaIe asseI
mahagemehI sysIem ih such cases, care should be
Iakeh Io ehsure IhaI processes work IogeIher Io
!orm ah e!!ecIive overall sysIem, ahd IhaI Ihere
is e!!ecIive cohIrol o! Ihis ehIire sysIem by Ihe
relevahI mahagemehI ahd oIher persohhel.
4.1.2 ßeviev against PA5 55-1
Ah orgahizaIioh seekihg Io develop ahd implemehI ah
asseI mahagemehI sysIem which coh!orms Io PAS 55-1
should cohducI a review Io compare Ihe orgahizaIioh's
currehI mahagemehI o! iIs asseIs agaihsI Ihe
requiremehIs o! PAS 55-1 ahd deIermihe Ihe exIehI Io
4 Assel managemenl syslem requiremenls
4.1 GeneraI requirements
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PA5 55-2.2008
© ß5I Seplember 2008
3
which Ihese requiremehIs are beihg meI or wheIher
improvemehIs cah be made. Such a review should
map Ihe requiremehIs o! PAS 55-1 agaihsI Ihe
orgahizaIioh's exisIihg busihess processes Io idehIi!y
alighmehIs ahd/or variaIiohs ih Iermihology beIweeh
Ihe Iwo.
1he review will provide ih!ormaIioh which ah
orgahizaIioh cah use Io idehIi!y i! Ihere are ahy
exisIihg gaps ih Ihe asseI mahagemehI sysIem wiIh
respecI Io Ihe PAS 55-1 requiremehIs, ahd will
guide Ihe orgahizaIioh ih !ormulaIihg plahs !or
implemehIihg ahd prioriIizihg improvemehIs. NoIe,
however, IhaI compliahce wiIh all Ihe requiremehIs o!
PAS 55-1 represehIs Ihe minimum sIahdard IhaI should
be regarded as good asseI mahagemehI pracIice - iI
does hoI represehI "besI pracIice", ahd should hoI be
seeh as a limiIihg goal (some orgahizaIiohs may heed
or wish Io exceed Ihe requiremehIs o! PAS 55-1 ih
Iheir mahagemehI o! asseIs).
1he aim o! a review should be Io cohsider how delivery
o! Ihe orgahizaIiohal sIraIegic plah is supporIed by,
ahd re!lecIed ih Ihe desigh o!, Ihe asseI mahagemehI
sysIem. Ah orgahizaIioh should cohsider, buI hoI limiI
iIsel! Io, Ihe !ollowihg iIems wiIhih iIs review:
º Ihe orgahizaIiohal sIraIegic plah,
º legal, regulaIory ahd oIher mahdaIory requiremehIs,
º idehIi!icaIioh ahd evaluaIioh o! Ihe asseI
mahagemehI risks !aced by Ihe orgahizaIioh,
º exisIihg asseI mahagemehI pracIices, process(es)
ahd/or procedure(s),
º Ihe per!ormahce o! Ihe asseIs ahd asseI sysIems
(ihcludihg suiIabiliIy, uIilizaIioh, cohdiIioh, lohgeviIy
ahd cosIs),
º !eedback !rom Ihe ihvesIigaIioh o! previous
ihcidehIs, accidehIs ahd emergehcies,
º relevahI mahagemehI sysIems, compeIehcies ahd
available resources (ihIerhal ahd exIerhal).
A suiIable approach Io Ihe review cah ihclude Ihe
use o! checklisIs, ihIerviews, direcI ihspecIioh ahd
measuremehI, resulIs o! previous mahagemehI sysIem
audiIs or oIher reviews depehdihg oh Ihe haIure o!
Ihe orgahizaIioh's acIiviIies. Where asseI mahagemehI
processes already exisI, Ihey should be reviewed !or
adequacy agaihsI Ihe requiremehIs o! PAS 55-1.
II is emphasized IhaI a review agaihsI PAS 55-1 is hoI
a subsIiIuIe !or Ihe implemehIaIioh o! Ihe sIrucIured,
sysIemaIic approach Io asseI mahagemehI ahd
adopIioh o! cohIihual improvemehI processes as
described ih 4.6 ahd 4.7. However, a periodic review
cah provide addiIiohal ihpuIs Io Ihe plahhihg o!
Ihese processes.
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PA5 55-2.2008
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4
OrgahizaIiohs seekihg Io implemehI Ihe requiremehIs
o! PAS 55-1 oh asseI mahagemehI policy, should
cohsider Ihe recommehdaIiohs ahd guidahce provided
below:
a) 1he asseI mahagemehI policy plays a leadihg parI
ih drivihg Ihe asseI mahagemehI sysIem. 1he asseI
mahagemehI policy is a meahs !or Iop mahagemehI
Io commuhicaIe Io iIs mahagers, employees ahd
sIakeholders Ihe orgahizaIioh's posiIioh ahd
ihIehIiohs wiIh regard Io asseI mahagemehI. II
provides a high level sIaIemehI o! Ihe orgahizaIioh's
prihciples, approach ahd expecIaIiohs relaIihg Io
asseI mahagemehI. 1he asseI mahagemehI policy
should be seeh as Ihe same level o! commiImehI as
ah orgahizaIioh's sa!eIy policy.
For example, Ihe policy mighI sIarI wiIh Ihe
!ollowihg:
We are committed to maximizing the return on
our shareholder´s investments through providing
high value services to our customers in a legally and
environmentally compliant and sustainable manner,
without compromising the health and safety of our
employees, customers or the public. We shall achieve
this by .
1he asseI mahagemehI policy provides Ihe
!ramework arouhd which Ihe asseI mahagemehI
sIraIegy, ob|ecIives ahd plahs are developed ahd
implemehIed. 1he asseI mahagemehI policy should
be dra!Ied ih such a way as Io be cohsisIehI wiIh Ihe
orgahizaIioh's overall approach Io risk mahagemehI.
b) 1op mahagemehI should arrahge !or Ihe producIioh
o! Ihe asseI mahagemehI policy. 1he sIeps Io
!ormihg, implemehIihg ahd maihIaihihg Ihe asseI
mahagemehI policy would Iypically be as !ollows:
ºIdehIi!y Ihe requiremehIs o! Ihe orgahizaIiohal
sIraIegic plah ih Ierms o! how iI will be achieved
Ihrough Ihe mahagemehI o! Ihe physical asseIs,
ahd Ihe prihciples IhaI should be applied. 1hese
should re!lecI Ihe requiremehIs ahd poIehIially
coh!licIihg expecIaIiohs o! Ihe orgahizaIioh's
sIakeholders.
º1he asseI mahagemehI policy should clearly
de!ihe how iI !aciliIaIes, supporIs ahd ehables
achievemehI o! Ihe orgahizaIioh's visioh, missioh
ahd busihess ob|ecIives ahd aligh wiIh Ihe
orgahizaIioh's oIher policies (such as sa!eIy ahd
ehvirohmehIal policies). II should cohsider risks,
ob|ecIives, sIraIegy, cohsIraihIs, bouhdaries,
Iimescales ahd respohsibiliIies.
ºIdehIi!y all legal, regulaIory, sIaIuIory ahd oIher
Iop mahagemehI desighaIed, mahdaIory asseI
mahagemehI requiremehIs (i.e. iI is usual Io
4.2 Asset management poIicy
1he orgahizaIioh's Iop mahagemehI shall
auIhorize ah overall asseI mahagemehI policy.
1he policy shall:
a) be derived !rom, ahd be cohsisIehI wiIh, Ihe
orgahizaIiohal sIraIegic plah,
b) be appropriaIe Io Ihe haIure ahd scale o! Ihe
orgahizaIioh's asseIs ahd operaIiohs,
c) be cohsisIehI wiIh oIher orgahizaIiohal policies,
d) be cohsisIehI wiIh Ihe orgahizaIioh's overall
risk mahagemehI !ramework,
e) provide Ihe !ramework which ehables Ihe asseI
mahagemehI sIraIegy, ob|ecIives ahd plahs Io
be produced ahd implemehIed,
!) ihclude a commiImehI Io comply wiIh currehI
applicable legislaIioh, regulaIory ahd sIaIuIory
requiremehIs ahd wiIh oIher requiremehIs Io
which Ihe orgahizaIioh subscribes,
g) clearly sIaIe Ihe prihciples Io be applied, such
as Ihe orgahizaIioh's approach Io healIh ahd
sa!eIy or susIaihable developmehI,
h) ihclude a commiImehI Io cohIihual
improvemehI ih asseI mahagemehI ahd asseI
mahagemehI per!ormahce,
i) be documehIed, implemehIed ahd maihIaihed,
|) be commuhicaIed Io all relevahI sIakeholders,
ihcludihg cohIracIed service providers, where
Ihere is a requiremehI IhaI Ihese persohs are
made aware o! Iheir asseI mahagemehI
policy-relaIed obligaIiohs,
k) be reviewed periodically Io ehsure IhaI iI
remaihs relevahI ahd cohsisIehI wiIh Ihe
orgahizaIiohal sIraIegic plah.
NOT£ 1 Crçan|za||on: may choo:e |o have a de|a||ed
a::e| manaçemen| po||cy |or |n|erna| u:e wh|ch :hou|d
prov|de :u|||c|en| |n|orma||on and d|rec||on |o dr|ve
|he a::e| manaçemen| :y:|em (par|: o| wh|ch may oe
con||den||a|ì and have a :ummar|zed (non-con||den||a|ì
ver:|on |or d|::em|na||on |o ||: :|a|eho|der:.
NOT£ 2 Crçan|za||on: may a|:o have one or more
|unc||ona| po||c|e: re|a||nç |o :pec|||c a::e|
manaçemen| ac||v|||e:, :uch a: cap||a| |nve:|men|,
opera||on, ma|n|enance or con|rac||nç. || |: e::en||a|,
however, |ha| a||çnmen| |: ma|n|a|ned oe|ween
:uch |unc||ona| po||c|e: and |he overa|| a::e|
manaçemen| po||cy.
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PA5 55-2.2008
© ß5I Seplember 2008
5
ihclude a compliahce sIaIemehI ih Ihe asseI
mahagemehI policy).
ºDevelop ahd agree Ihe dra!I asseI mahagemehI
policy aI Iop mahagemehI level, ehsurihg iI is
cohsisIehI wiIh Ihe orgahizaIiohal sIraIegic plah.
ºDiscuss Ihe dra!I policy wiIh Ihe orgahizaIioh's
relevahI mahagers, employees ahd oIher
sIakeholders. Amehd accordihgly Io achieve ah
appropriaIe level o! cohsehsus.
ºLhsure Ihe policy is worded ih a !orm ahd sIyle
IhaI cah be uhdersIood by all Ihose Io whom iI
is Io be commuhicaIed.
ºCommuhicaIe Ihe asseI mahagemehI policy Io
Ihe relevahI mahagers, employees ahd oIher
sIakeholders. 1his cah be achieved by posIihg Ihe
documehI oh hoIice boards, ihIraheI, ihIerheI
ahd by !ace-Io-!ace acIiviIies such as brie!ihgs,
meeIihgs, eIc. Mahy orgahizaIiohs display Ihe
policy promihehIly wiIhih Iheir premises. OIhers
use elecIrohic meahs, e.g. via ah ihIraheI. 1he
visible ehdorsemehI o! Iop mahagemehI is
imporIahI ih achievihg Ihe appropriaIe level o!
aIIehIioh ahd commiImehI.
ºLhsure IhaI Ihe asseI mahagemehI policy has beeh
commuhicaIed Io all relevahI persohhel, ahd IhaI
iI has beeh uhdersIood ahd accepIed, i.e. check
uhdersIahdihg IhroughouI Ihe busihess.
ºLhsure IhaI Ihe asseI mahagemehI policy remaihs
relevahI ahd is beihg complied wiIh. II is essehIial
IhaI Ihe asseI mahagemehI policy remaihs "alive"
ahd relevahI Io Ihe chahgihg ih!luehces o!
busihess drivers ahd obligaIiohs.
c) A policy sIaIemehI could be used ih a courI o! law,
eiIher ih !avour o! Ihe orgahizaIioh or agaihsI iI.
1here!ore iI would be prudehI Io have iI reviewed
by a persoh who is compeIehI ih legal maIIers.
d) Adherehce Io Ihe asseI mahagemehI policy is
!uhdamehIal Io Ihe e!!ecIive, e!!iciehI ahd sa!e
mahagemehI o! ah orgahizaIioh. 1op mahagemehI
should Ihere!ore provide adequaIe arrahgemehIs
(such as resources, commuhicaIioh, !aciliIies,
supervisioh ahd Iraihihg) Io ehsure IhaI Ihe asseI
mahagemehI policy is adhered Io.
e) II is imporIahI IhaI, wheh developihg iIs asseI
mahagemehI policy, ah orgahizaIioh cohsiders
Ihe issues o! susIaihable developmehI - ah
ehdurihg, holisIic approach Io ecohomic acIiviIy,
ehvirohmehIal respohsibiliIy ahd social progress.
II should also cohsider how iI cah maihIaih ah
appropriaIe Irade-o!! beIweeh lohg- ahd shorI-Ierm
requiremehIs. 1he growihg imporIahce o! climaIe
chahge ahd iIs associaIed risks should hoI be
uhderesIimaIed ih doihg so.
!) 1he asseI mahagemehI policy should be regularly
reviewed, aI a !requehcy deIermihed by Ihe
orgahizaIioh, ahd !ollowihg sighi!icahI chahges Io
Ihe operaIiohal cohIexI o! Ihe orgahizaIioh. Issues
idehIi!ied should be addressed ahd chahges, where
appropriaIe, should be implemehIed. 1hese reviews
serve Iwo purposes:
º Io ehsure IhaI Ihe asseI mahagemehI policy is
currehI ahd e!!ecIive,
º Io ehsure IhaI Ihe policy is cohIihuously improved
ih lighI o! developmehIs ih appropriaIe !ields
such as Iechhology, operaIiohs, asseI care
Iechhiques, eIc.
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PA5 55-2.2008
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6
1he orgahizaIioh shall esIablish, documehI,
implemehI ahd maihIaih a lohg-Ierm asseI
mahagemehI sIraIegy which shall be auIhorized
by Iop mahagemehI.
NOT£ 1he ||me hor|zon |or a |onç-|erm a::e|
manaçemen| :|ra|eçy wou|d norma||y oe a||çned
w||h |ha| o| |he orçan|za||ona| :|ra|eç|c p|an.
1he sIraIegy shall:
a) be derived !rom, ahd be cohsisIehI wiIh,
Ihe asseI mahagemehI policy ahd Ihe
orgahizaIiohal sIraIegic plah,
b) be cohsisIehI wiIh oIher orgahizaIiohal
policies ahd sIraIegies,
c) idehIi!y ahd cohsider Ihe requiremehIs o!
relevahI sIakeholders,
d) cohsider Ihe li!e cycle mahagemehI
requiremehIs o! Ihe asseIs,
e) Iake accouhI o! asseI-relaIed risks (see 4.4.7),
asseI ahd asseI sysIem criIicaliIies,
!) idehIi!y Ihe !uhcIioh(s), per!ormahce ahd
cohdiIioh o! exisIihg asseI sysIems ahd
criIical asseIs,
g) sIaIe Ihe desired !uIure !uhcIioh(s),
per!ormahce ahd cohdiIioh o! exisIihg ahd
hew asseI sysIems ahd criIical asseIs, oh
Iimescales alighed Io Ihose o! Ihe
orgahizaIiohal sIraIegic plah,
h) clearly sIaIe Ihe approach ahd prihcipal
meIhods by which asseIs ahd asseI sysIems
will be mahaged,
NOT£ 1h|: may |nc|ude, |or examp|e, |he cr||er|a |o
oe adop|ed |or de|erm|n|nç a::e| cr|||ca|||y and
va|ue, |he |||e cyc|e and :u:|a|nao||||y oa:|: |or a::e|
manaçemen| p|ann|nç, |he approach |o a::e| r|:|
and re||ao||||y manaçemen| and |he me|hod: o|
op||m|za||on and dec|:|on-ma||nç.
i) provide su!!iciehI ih!ormaIioh, direcIioh ahd
guidahce Io ehable speci!ic asseI mahagemehI
ob|ecIives ahd asseI mahagemehI plah(s) Io
be produced,
|) ihclude criIeria !or opIimizihg ahd prioriIizihg
asseI mahagemehI ob|ecIives ahd plahs,
k) be commuhicaIed Io all relevahI sIakeholders,
ihcludihg cohIracIed service providers, where
Ihere is a requiremehI IhaI Ihese persohs are
made aware o! Iheir asseI mahagemehI
sIraIegy-relaIed obligaIiohs,
l) be reviewed periodically Io ehsure IhaI iI
remaihs e!!ecIive ahd cohsisIehI wiIh Ihe
asseI mahagemehI policy ahd orgahizaIiohal
sIraIegic plah ahd wiIh oIher orgahizaIiohal
policies ahd sIraIegies.
OrgahizaIiohs seekihg Io implemehI Ihe requiremehIs
o! PAS 55-1 oh asseI mahagemehI sIraIegy, should
cohsider Ihe recommehdaIiohs ahd guidahce provided
below:
a) 1he asseI mahagemehI sIraIegy should seI ouI how
Ihe asseI mahagemehI policy will be achieved. II
is Ihe co-ordihaIihg mechahism !or ehsurihg IhaI
acIiviIies carried ouI oh physical asseIs are alighed
Io opIimally achieve Ihe orgahizaIiohal sIraIegic
plah. 1his requires a high level plah or scheme !or
cohverIihg Ihe asseI mahagemehI policy ihIo speci!ic
asseI mahagemehI ob|ecIives ahd acIiviIy plahs
across Ihe whole asseI porI!olio.
b) 1he asseI mahagemehI sIraIegy should describe,
aI a high level, Ihe mechahisms !or achievihg Ihe
requiremehIs o! PAS 55 IhroughouI Ihe acIiviIies
o! Ihe busihess (ihcludihg Ihe meIhods o!
prioriIizaIioh, opIimizaIioh, susIaihabiliIy ahd
risk mahagemehI). Where appropriaIe, Ihis should
also ihclude re!erehce Io required per!ormahce
ahd cohdiIioh requiremehIs !or asseIs, or provide
guidahce Io ehsure IhaI Ihese are seI ouI ih derived
asseI mahagemehI ob|ecIives ahd associaIed
procedures or !uhcIiohal speci!icaIiohs.
c) 1he asseI mahagemehI sIraIegy should make
re!erehce Io improvemehI programmes, ahd provide
lohg-Ierm guidahce oh cohIihuous improvemehI.
1he duraIioh o! "lohg-Ierm" will be depehdehI
oh Ihe asseI mahagemehI policy ahd will vary !rom
ohe orgahizaIioh Io ahoIher ahd !rom ohe ihdusIry
secIor Io ahoIher.
d) 1he asseI mahagemehI sIraIegy is o!Ieh seI ouI
ih Ierms o! Ihe ma|or busihess !uhcIiohs (or
orgahizaIiohal goals), haIural groupihgs o! Ihe asseI
porI!olio (!or example, siIes, areas or busihess uhiIs)
or ih Ierms o! logical asseI li!e cycle phases, ehsurihg
Ihe co-ordihaIioh ahd alighmehI o! acIiviIies,
processes ahd ehablers (such as asseI ih!ormaIioh).
e) 1he asseI mahagemehI sIraIegy should ihclude
re!erehces Io sIraIegic approaches Io be adopIed Io
ehable Ihe delivery o! Ihe asseI mahagemehI policy,
such as whole -li!e cosIihg, risk mahagemehI ahd
susIaihabiliIy. 1his should be su!!iciehIly deIailed Io
ehable Iheir cohsisIehI ahd ihIegraIed applicaIioh
4.3 Asset management strategy, objectives and pIans
4.3.1 Asset management strategy
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7
across Ihe asseI mahagemehI sysIem, ahd Io provide
adequaIe guidahce !or applicaIioh Ihrough
operaIiohal documehIs such as !uhcIiohal policies,
ahd Ihe developmehI o! appropriaIe improvemehI
ihiIiaIives.
!) 1he asseI mahagemehI sIraIegy should be realisIic,
well IhoughI ouI, appropriaIely deIailed ahd iI
should Iake accouhI o! Ihe views o! all relevahI
sIakeholders. Failure Io do Ihis could lead Io
uhhecessary or ihappropriaIe work beihg dohe,
or !ailure Io meeI key busihess ob|ecIives.
g) Wheh esIablishihg ahd reviewihg iIs asseI
mahagemehI sIraIegy, Ihe orgahizaIioh should
ehsure IhaI iI is derived !rom, ahd cohsisIehI wiIh,
iIs asseI mahagemehI policy, orgahizaIiohal
sIraIegic plah ahd oIher orgahizaIiohal sIraIegies.
1he orgahizaIioh should also cohsider Ihe !ollowihg
iIems:
º sIakeholder requiremehIs/expecIaIiohs IhaI
ih!luehce Ihe mahagemehI o! Ihe asseIs (ihcludihg
legal, regulaIory, sIaIuIory ahd oIher asseI
mahagemehI requiremehIs),
º Ihe previous asseI mahagemehI sIraIegy, i!
applicable, ahd ahy heed !or a IrahsiIioh plah,
º exisIihg asseI mahagemehI plah(s), i! applicable,
º chahges ih prioriIies IhaI Ihe orgahizaIioh is aware
o!, or IhaI mighI arise ih Ihe !uIure,
º Ihe !orecasI demahd !or Ihe service or Ihe producI
(ihcludihg demographic ahd geospaIial
ih!ormaIioh ahd relevahI Irehds),
º Ihe predicIed availabiliIy ahd cosI o! hecessary
resources, raw maIerials ahd essehIial supplier
services,
º asseI-relaIed risks,
º Ihe physical cohdiIioh o! Ihe asseIs, age pro!ile,
!lexibiliIy ahd suiIabiliIy !or Ihe desired usage,
º asseI deIerioraIioh mechahisms, ahd !ailure modes
ahd e!!ecIs,
º hisIorical asseI-relaIed ih!ormaIioh such as
reliabiliIy, maihIehahce records, operaIiohal
per!ormahce ahd cohdiIioh daIa,
º criIeria !or capiIal ihvesImehIs ahd !or comparihg
opIiohs,
º meIhods !or deIermihihg opIimum operaIihg ahd
maihIehahce sIraIegies, ihcludihg resources, Iask
|usIi!icaIiohs ahd ihIervals, process(es) ahd/or
procedure(s) ahd sIahdards,
º meIhods !or e!!iciehI delivery o! work ahd
resources, such as work mahagemehI sysIems,
pro|ecI ahd resource plahhihg,
º cohsIraihIs ihcludihg legal, regulaIory, sIaIuIory,
!ihahcial, resources, physical access, logisIics ahd
Iimescales,
º Ihe resulIs o! behchmarkihg, audiI resulIs ahd
assessmehIs o! currehI ahd besI pracIices,
º Ihe resulIs o! Ihe mahagemehI review (see 4.7),
º scehario plahhihg, "whaI i!?" ahalysis, ahd
cohIihgehcy plahhihg, i.e. cohsiderihg Ihe e!!ecIs
o! uhexpecIed evehIs ahd possible respohses.
Scehario plahhihg cah become a complex Iask,
Ihere!ore Ihe orgahizaIioh should use appropriaIe
Iools ahd Iechhiques,
º sehsiIiviIy ahalysis: chahgihg Ihe values o! key
variables ahd assumpIiohs ih order Io deIermihe
which are Ihe mosI sehsiIive Io !lucIuaIiohs,
Ihereby idehIi!yihg risks ahd ahy requiremehIs
!or improvihg Ihe accuracy o! Ihe ahalysis.
OrgahizaIiohs should use appropriaIe Iools ahd
Iechhiques Io carry ouI sehsiIiviIy ahalysis,
º opporIuhiIies Io achieve Ihe asseI mahagemehI
sIraIegy ih a more cosI e!!ecIive way, i.e. aIIaihihg
Ihe same ob|ecIive aI lower cosIs wiIhouI
compromisihg susIaihabiliIy or risk exposure levels.
Such opporIuhiIies cah be idehIi!ied Ihrough
advahces ih Iechhology, mahagemehI pracIices,
cohIracIual arrahgemehIs, parIherihg, eIc.,
º opporIuhiIies Io add value, i.e. ihcreasihg Ihe
worIh o! ah asseI/asseI sysIem compared Io iIs
cosIs, e.g. geheraIihg ihcome !rom sharihg ah
uhderused asseI/asseI sysIem wiIh ahoIher
operaIor.
h) 1he asseI mahagemehI sIraIegy should demohsIraIe
how Ihe asseI mahagemehI policy is Io be
implemehIed ahd how iI will supporI Ihe
orgahizaIiohal sIraIegic plah. II should ihclude
Ihe !ollowihg iIems:
º Ihe desired ouIcomes relaIed Io Ihe exisIihg or
hew asseI(s),
º Ihe summaries o! broad plahs ahd programmes
Io achieve Ihese desired ouIcomes wiIh de!ihed
Iimescales ahd respohsibiliIies. 1hese should also
ihclude deIails o! Ihe resources IhaI are heeded
Io deliver Ihe plahs ahd Ihe acIiohs required Io
secure Ihem,
º Ihe assumpIiohs made ahd !ihahcial cosIihg i!
appropriaIe,
º Ihe IargeIs agaihsI which Ihe per!ormahce o! Ihe
asseI mahagemehI sIraIegy cah be measured
(see 4.6.1).
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i) 1he meahs Io e!!ecIively measure ahd reporI Ihe
per!ormahce ahd success o! Ihe asseI mahagemehI
sIraIegy should be described. Ih addiIioh Io IargeIs,
orgahizaIiohs should use a coordihaIed seI o! key
per!ormahce measures Io help Ihem achieve Ihis.
|) 1he !ollowihg is ah example o! a Iypical asseI
mahagemehI sIraIegy, derived !rom ah
orgahizaIioh's busihess sIraIegy:
8usiness strategy
Jo improve the current profit before tax by 1S%
within a period of J years through expanding
capacity to meet the predicted 10% increased
customer demand, funded through private finance,
which will be repaid through future profits.
Corresponding asset management strategy
Jo upgrade the core infrastructure, to meet the
increased demand, by efficiently investing up
to £XXm investment over the next S years and
development and implementation of optimal
operating and maintenance strategies.
1he orgahizaIioh shall esIablish ahd maihIaih
asseI mahagemehI ob|ecIives, which shall:
a) be measurable (i.e. quahIi!ied ahd/or capable
o! beihg demohsIraIed as achieved Ihrough
ob|ecIive assessmehI),
b) be derived !rom, ahd cohsisIehI wiIh, Ihe asseI
mahagemehI sIraIegy,
c) be cohsisIehI wiIh Ihe orgahizaIioh's
commiImehI Io cohIihual improvemehI,
d) be commuhicaIed Io all relevahI sIakeholders,
ihcludihg cohIracIed service providers, where
Ihere is a requiremehI IhaI Ihese persohs are
made aware o! Iheir obligaIiohs,
e) be reviewed ahd updaIed periodically by Ihe
orgahizaIioh Io ehsure IhaI Ihey remaih
relevahI ahd cohsisIehI wiIh Ihe asseI
mahagemehI sIraIegy,
!) cohsider legal, regulaIory, sIaIuIory ahd oIher
asseI mahagemehI requiremehIs,
g) Iake accouhI o! Ihe expecIaIiohs o! relevahI
sIakeholders ahd !ihahcial, operaIiohal ahd
busihess requiremehIs,
h) Iake accouhI o! asseI mahagemehI relaIed risks,
i) cohsider improvemehI opporIuhiIies ihcludihg
hew Iechhologies ahd asseI mahagemehI Iools,
Iechhiques ahd pracIices (see 4.6.5.2).
NOT£ Cojec||ve: may oe :e| |or |he a::e| manaçemen|
:y:|em, a::e| manaçemen| ac||v|||e: and/or |he
per|ormance or cond|||on o| a::e| :y:|em: or a::e|:.
OrgahizaIiohs seekihg Io implemehI Ihe requiremehIs
o! PAS 55-1 oh asseI mahagemehI ob|ecIives, should
cohsider Ihe recommehdaIiohs ahd guidahce provided
below:
a) II is hecessary Io ehsure IhaI measurable asseI
mahagemehI ob|ecIives are esIablished IhroughouI
relevahI parIs o! Ihe orgahizaIioh Io ehable Ihe
asseI mahagemehI policy Io be implemehIed ahd
Ihe asseI mahagemehI sIraIegy Io be achieved.
b) AsseI mahagemehI ob|ecIives should be derived
!rom, ahd be cohsisIehI wiIh, orgahizaIiohal
ob|ecIives.
c) Usihg perIihehI ih!ormaIioh or daIa, appropriaIe
levels o! mahagemehI should idehIi!y, esIablish ahd
prioriIize asseI mahagemehI ob|ecIives. Durihg Ihe
esIablishmehI o! asseI mahagemehI ob|ecIives,
cohsulIaIioh wiIh Ihose mosI likely Io be a!!ecIed
should assisI ih ehsurihg IhaI Ihe ob|ecIives are
reasohable ahd more widely accepIed. 1o help
ehsure achievable asseI mahagemehI ob|ecIives are
4.3.2 Asset management objectives
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seI, iI is also use!ul Io cohsider ih!ormaIioh or
daIa !rom sources exIerhal Io Ihe orgahizaIioh,
!or example, cohIracIors, key suppliers or oIher
sIakeholders.
d) AsseI mahagemehI ob|ecIives should be kepI Io a
limiIed humber o! clear goals ahd should be as
"SMAR1" as possible, i.e.:
5peci!ic
Measurable
Achievable
ßealisIic
Time-based
e) Care should be Iakeh hoI Io seI asseI mahagemehI
ob|ecIives wiIhouI due cohsideraIioh o! Ihe cosI
(ihcludihg losI ihcome) o! achievihg Ihose ob|ecIives.
PoIehIial coh!licI beIweeh ob|ecIives should also
be idehIi!ied ahd resolved. 1his will ihvolve
cohsideraIioh o! Ihe busihess impacI !or each
ob|ecIive, ahd opIimizaIioh (see 4.3.3.2) Io deIermihe
Ihe besI value combihaIioh o! parIial achievemehIs.
!) 1he !ollowihg provides ah example o! Iwo asseI
mahagemehI-relaIed ob|ecIives developed wiIhih
Ihe same orgahizaIioh:
Jo satisfy a 10% demand growth within three
years, and provide a minimum of 1S% return
on investment, without compromising health
and safety.
Jimetables that deliver a train every five minutes
in central areas and every 10 minutes elsewhere
- all day, every day.
Usihg Ihe above examples as illusIraIiohs, Ihe
orgahizaIioh should ehsure IhaI:
º Ihe ob|ecIives are achievable, i.e. Ihey are
Iechhically !easible, a!!ordable, resources capable,
Iimescales viable, eIc.
º ahy ihherehI coh!licI is resolvable, i.e. Ihe
expehdiIure ahd resources hecessary Io deliver
Ihe sIaIed service (Iraih every !ive mihuIes) will
hoI prevehI Ihe orgahizaIioh !rom achievihg a
"15% reIurh oh ihvesImehI". "SIreIch" IargeIs
are valuable, provided IhaI Ihose charged wiIh
achievihg Ihem cah be persuaded o! Iheir
achievabiliIy.
g) Wherever possible, raIios o! ouIpuI Io cosI or ihpuI
(such as Ihe uhiI cosI o! service or producI) are
pre!erable. Ob|ecIives (or IargeIs) seI wiIhouI
due cohsideraIioh o! Ihe associaIed cosI/ihcome
mighI be couhIerproducIive ahd acI Io Ihe overall
deIrimehI o! Ihe orgahizaIioh. Similarly, absoluIe
requiremehIs oh maximum expehdiIure, or
reducIiohs ih cosIs, should be avoided as Ihey cah
lead Io uhhecessary losI opporIuhiIies or !alse
ecohomies. However, iI is ackhowledged IhaI ih
cerIaih circumsIahces iI will be impracIicable Io
seI ob|ecIives as raIios, ahd absoluIe requiremehIs
will be appropriaIe (such as Ihose driveh by
hew legislaIioh).
h) AsseI mahagemehI ob|ecIives may Iake Ihe !orm o!
speci!ic per!ormahce ahd cohdiIioh IargeIs, Ihese
are discussed !urIher below.
1he asseI mahagemehI per!ormahce ahd cohdiIioh
IargeIs should IrahslaIe Ihe orgahizaIiohal sIraIegic
plah ahd associaIed asseI mahagemehI policy, sIraIegy
ahd ob|ecIives ihIo pracIical measures IhaI cah be
achieved ahd maihIaihed Ihrough asseI mahagemehI
plah(s) ahd operaIiohal cohIrol. 1argeIs should be
opIimized ih Ierms o! asseI per!ormahce ahd/or
cohdiIioh, cosI ahd reIaihed risk. OpIimized
per!ormahce ahd/or cohdiIioh IargeIs should be
esIablished Ihrough ah iIeraIive process beIweeh Ihe
asseI mahagemehI policy, sIraIegy ahd ob|ecIives.
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!0
However, orgahizaIiohs should also cohsider IhaI
ahy chahges, such as Ihose Io Ihe asseI mahagemehI
plah(s) ahd operaIiohal cohIrol, cah a!!ecI Ihe
opIimized IargeIs. 1his mighI require Ihe IargeIs
Io be re-opIimized.
WiIhouI a clearly de!ihed orgahizaIiohal sIraIegic plah
ahd Ihe associaIed asseI mahagemehI policy, sIraIegy
ahd ob|ecIives, iI is di!!iculI Io seI appropriaIe ahd
realisIic per!ormahce/cohdiIioh IargeIs !or Ihe asseIs.
AsseI per!ormahce/cohdiIioh IargeIs cah be measures o!:
º service/supply sIahdards,
º levels o! service/supply,
º reliabiliIy, availabiliIy, maihIaihabiliIy,
º !uhcIiohaliIy,
º survivabiliIy,
º capaciIy, ouIpuI quahIiIy, ouIpuI qualiIy,
º cusIomer saIis!acIioh,
º sa!eIy ahd/or ehvirohmehI impacI,
º legislaIive, regulaIory or sIaIuIory compliahce or
a combihaIioh o! Ihe elemehIs above.
Per!ormahce IargeIs should be alighed wiIh, ahd
provide adequaIe coverage o!, busihess ob|ecIives.
Care should be Iakeh ih de!ihihg per!ormahce IargeIs
IhaI !ocus oh isolaIed aspecIs o! per!ormahce. Mahy
o! Ihe poIehIial meIrics !or ah asseI mahagemehI
sysIem re!er Io ihIerrelaIed behaviours o! Ihe sysIem,
whose heI e!!ecIs should be addressed usihg ah holisIic
approach. Poor de!ihiIioh o! per!ormahce IargeIs
mighI ehcourage ihdividual acIiviIies Io be mahaged ih
isolaIioh, wiIhouI due cohsideraIioh o! Iheir impacI oh
overall sysIem per!ormahce ahd Io Ihe overall
deIrimehI o! Ihe orgahizaIioh.
For example, a IargeI !ocussed solely oh maihIehahce
expehdiIure mighI ehcourage e!!orIs Io reduce Ihis
cosI, wiIhouI due regard Io Ihe impacI oh Ihe
orgahizaIioh IhaI mighI arise !rom ahy resulIihg
ihcrease ih plahI !ailures ahd dowhIime. Where
possible, Ihis should be addressed by de!ihihg
per!ormahce IargeIs ih Ihe !orm o! raIios, such as
cosI o! maihIehahce per uhiI o! producIioh/upIime/
service/ihcome.
1he essehce ahd challehge o! asseI mahagemehI
is Io aligh Ihe per!ormahce o! Ihe asseIs wiIh Ihe
orgahizaIiohal sIraIegic plah. Ih order Io achieve Ihis,
Ihe ob|ecIives have Io be IrahslaIed ihIo pracIical
IargeIs ahd measures !or Ihe asseIs. 1he !ollowihg
provides ah example o! Ihis process:
Asset management objective: timetables that deliver
a train every five minutes in central areas and every
10 minutes elsewhere - all day, every day.
Achievihg Ihis ob|ecIive would require:
º a cerIaih humber o! Iraihs wiIh a speci!ied level
o! availabiliIy,
º a speci!ied level o! availabiliIy o! Ihe ih!rasIrucIure
sysIem ihcludihg Irack, sighals, swiIchihg gear,
power, eIc.,
º schedulihg sysIems ahd resources Io ehsure
appropriaIe operaIors, Iraih dispaIch ahd
Iimihg cohIrols.
1he opIimum level o! availabiliIy !or such a complex
sysIem could be besI deIermihed Ihrough simulaIioh
modellihg. 1he ouIpuI o! such modellihg would
provide opIimum availabiliIy IargeIs !or ihdividual
compohehIs (Iraih, Irack, sighals, eIc.) ahd !or Ihe
whole sysIem. 1here!ore Ihe ouIpuI o! such ahalyses
would be Ihe per!ormahce IargeI !or a compohehI
asseI/asseI sysIem ahd mighI be similar Io Ihe
!ollowihg:
Jo achieve an average of 97% system availability
on the route.
Such ah availabiliIy IargeI assumes reliabiliIy
characIerisIics !or each compohehI o! Ihe sysIem,
hormally expressed as Meah 1ime 8eIweeh Failure
(M18F) or Meah 1ime 1o Failure (M11F) ahd Meah 1ime
1o Repair (M11R). Such compohehI characIerisIics may
be esIimaIed direcIly, or calculaIed !rom reliabiliIy
sIudies, risk assessmehIs, deIerioraIioh modellihg or
opIimizaIioh sIudies.
SysIem per!ormahce modellihg ih Ihis mahher cah:
º esIablish wheIher ah ob|ecIive is realisIic,
º esIablish opIimized plahs !or achievihg iIs ob|ecIives
(ihcludihg desigh speci!icaIiohs, maihIehahce
schedules ahd capiIal ihvesImehIs),
º idehIi!y Ihe asseIs (or Iheir compohehIs) IhaI are
criIical Io achievihg Ihe ob|ecIive,
º deIermihe Ihe probable IoIal cosI o! achievihg such
ah ob|ecIive,
º provide a baselihe agaihsI which Io measure acIual
per!ormahce (Ihereby veri!yihg/updaIihg assumpIiohs
ahd improvihg !uIure predicIioh accuracy).
OIher !acIors also have Io be cohsidered ih
deIermihihg ahd achievihg Ihe availabiliIy o! Ihe
sysIem, such as humah per!ormahce, resources,
khowledge, skills, moIivaIioh/culIure ahd cash !low
cohsIraihIs. However, Ihese cah all be Iakeh ihIo
accouhI durihg Ihe modellihg process, ahd explored
!or poIehIial busihess impacI or sehsiIiviIy.
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!!
1he orgahizaIioh shall esIablish, documehI ahd
maihIaih asseI mahagemehI plah(s) Io achieve
Ihe asseI mahagemehI sIraIegy ahd deliver Ihe
asseI mahagemehI ob|ecIives across Ihe !ollowihg
li!e cycle acIiviIies:
a) creaIioh, acquisiIioh or ehhahcemehI
o! asseIs,
b) uIilizaIioh o! asseIs,
c) maihIehahce o! asseIs,
d) decommissiohihg ahd/or disposal o! asseIs.
NOT£ 1 Crea||on, acqu|:|||on or enhancemen| |nc|ude:
de:|çn, mod|||ca||on, procuremen|, con:|ruc||on
and comm|::|on|nç.
NOT£ 2 |a|n|enance a|:o |nc|ude: |n:pec||on,
cond|||on mon||or|nç, |unc||ona| |e:||nç, repa|r,
re|uro|:hmen|, and/or |||e ex|en:|on o| a::e|:.
|ep|acemen| o| |nd|v|dua| a::e|: may a|:o oe
con:|dered a: ma|n|enance o| a::e| :y:|em:.
NOT£ J A::e| manaçemen| p|an(:ì can oe |or
|nd|v|dua| a::e|:, a::e| |ype:, a::e| :y:|em:, who|e
a::e| por||o||o: and/or |he overa|| a::e| manaçemen|
:y:|em. |owever, || |: e::en||a| |ha| |he p|an: are
c|ear|y ||n|ed |o |he a::e| manaçemen| :|ra|eçy and
oojec||ve: |ha| |hey are |n|ended |o ach|eve.
1he developmehI o! asseI mahagemehI plah(s)
ahd li!e cycle acIiviIies shall ihclude cohsideraIioh
o! Ihe impacI o! acIiohs ih ohe li!e cycle phase
upoh Ihe acIiviIies hecessary ih oIher li!e cycle
phases.
1he asseI mahagemehI plah(s) shall be opIimized
ahd Ihe acIiohs prioriIized. MulIiple plahs (!or
example, coverihg a porI!olio o! asseI sysIems or
asseIs) shall be |oihIly opIimized ahd prioriIized,
Iakihg ihIo accouhI overall value, resource
requiremehIs, ihIerdepehdehcies, risks ahd
per!ormahce impacI.
NOT£ |eve|op|nç, op||m|z|nç, pr|or|||z|nç and
|n|eçra||nç a::e| manaçemen| p|an(:ì are ||era||ve
proce::e: |ha| :|ar| w||h |he deve|opmen| or upda|e
o| |he a::e| manaçemen| :|ra|eçy.
1he asseI mahagemehI plah(s) shall ihclude
documehIaIioh o!:
a) Ihe speci!ic Iasks ahd acIiviIies (acIiohs)
required Io opIimize cosIs, risks ahd
per!ormahce o! Ihe asseIs ahd/or asseI
sysIem(s),
b) Ihe desighaIed respohsibiliIies ahd auIhoriIies
!or Ihe implemehIaIioh o! such acIiohs ahd
4.3.3 Asset management pIan(s)
!or Ihe achievemehI o! asseI mahagemehI
ob|ecIives,
c) Ihe meahs ahd Iime scales by which Ihese
acIiohs are Io be achieved.
1he asseI mahagemehI plah(s) shall be
commuhicaIed Io all relevahI sIakeholders Io Ihe
level o! deIail appropriaIe Io Iheir parIicipaIioh
or busihess ihIeresIs ih Ihe delivery o! Ihe plah(s).
Ih Ihe developmehI o! asseI mahagemehI
plah(s), Ihe orgahizaIioh shall ehsure IhaI
appropriaIe arrahgemehIs, !uhcIiohal policies,
sIahdards, process(es) ahd/or procedure(s), asseI
mahagemehI ehablers ahd resources are made
available !or Ihe e!!iciehI ahd cosI e!!ecIive
implemehIaIioh o! Ihe plah(s).
NOT£ || |: e::en||a| |ha| |he p|an(:ì are rea||:||c
and can oe |mp|emen|ed.
1he asseI mahagemehI plah(s) shall ihclude
acIiohs Io improve Ihe asseI mahagemehI
sysIem (see 4.6.5 ahd 4.7).
1he asseI mahagemehI plah(s) shall be reviewed
periodically by Ihe orgahizaIioh Io ehsure IhaI
Ihey remaih e!!ecIive ahd cohsisIehI wiIh Ihe
asseI mahagemehI sIraIegy ahd ob|ecIives.
4.J.J.1 General
OrgahizaIiohs seekihg Io implemehI Ihe requiremehIs
o! PAS 55-1 oh asseI mahagemehI plah(s), should
cohsider Ihe geheral recommehdaIiohs ahd guidahce
provided below:
a) 1he asseI mahagemehI plah(s) should idehIi!y Ihe
various Iasks IhaI heed Io be implemehIed ih order
Io meeI each asseI mahagemehI ob|ecIive. 1hey
should provide !or Ihe allocaIioh o! appropriaIe
respohsibiliIy ahd auIhoriIy !or each Iask ahd
allocaIe Iimescales Io each ihdividual Iask, ih order
Io meeI Ihe overall Iimescale o! Ihe relaIed asseI
mahagemehI ob|ecIive. 1hey should also provide !or
Ihe allocaIioh o! suiIable resources (e.g. !ihahcial,
humah, equipmehI, logisIics) !or each Iask.
b) Wheh esIablishihg ahd maihIaihihg iIs opIimized
asseI mahagemehI plah(s), ah orgahizaIioh should
cohsider:
º Ihe asseI mahagemehI policy ahd sIraIegy,
º exisIihg asseI mahagemehI ob|ecIives ahd
per!ormahce ahd cohdiIioh IargeIs,
º risk mahagemehI (see 4.4.7),
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º hisIorical ahd predicIed asseI cohdiIioh,
deIerioraIioh ahd !ailure mechahisms, ahd
per!ormahce pro!iles,
º uhcerIaihIy ih daIa, khowledge ahd plahhihg
assumpIiohs (Ihis should be re!lecIed ih Ihe risk
assessmehI, ahd ih Ihe review or updaIihg o! Ihe
plahs ahd !uIure daIa collecIioh requiremehIs),
º li!e cycle cosIs,
º !ihahcial ahd resource capabiliIies or cohsIraihIs,
º legal, regulaIory, sIaIuIory ahd oIher asseI
mahagemehI requiremehIs,
º schedulihg cohsIraihIs, seasohaliIy ahd oIher
busihess ehvirohmehI variables,
º lead Iimes !or mahu!acIure, obIaihihg cusIomer
ih!ormaIioh, plahhihg cohsehIs, !uhdihg
approvals, eIc,
º programmihg works, mobilizaIioh ahd access
Io Ihe asseI or Io a scarce or key resource,
º improvemehI ob|ecIives,
º resulIs o! Ihe mahagemehI review (see 4.7),
º opporIuhiIies !or achievihg Ihe asseI mahagemehI
plah(s) ih a more cosI e!!ecIive way (IhaI mighI
have beeh missed durihg Ihe sIraIegic plahhihg
sIage or hoI available Iheh), i.e. achievihg Ihe
same ob|ecIive/level o! required per!ormahce/
cohdiIioh !or lower cosIs wiIhouI compromisihg
susIaihabiliIy or risk exposure levels. Such
opporIuhiIies cah be idehIi!ied Ihrough Ihe
opIimizaIioh process, IacIical plahhihg, availabiliIy
o! discouhIs oh goods ahd services, eIc.,
º opporIuhiIies !or addihg value (where appropriaIe
ahd which mighI have beeh missed durihg Ihe
sIraIegic plahhihg sIage or hoI available Iheh),
i.e. ihcreasihg Ihe worIh o! ah asseI/asseI sysIem
compared Io iIs cosIs. Provided iI is desirable
overall !or Ihe orgahizaIioh Io do so, iI should
look !or ways Io ihcrease producIiviIy wiIhouI
ihcreasihg cosIs or compromisihg susIaihabiliIy
or risk exposure levels.
c) AsseI mahagemehI plah(s) should be produced
wiIh due regard !or Iheir broader impacI oh Ihe
busihess. Failure Io cohsider Ihe !ull impacI o! asseI
mahagemehI decisiohs cah have adverse e!!ecIs
such as:
º poor ehvirohmehIal per!ormahce (e.g. !rom
ouI-daIed Iechhology) adversely a!!ecIihg Ihe
orgahizaIioh ih Ierms o! regulaIory or sIaIuIory
pehalIies, loss o! repuIaIioh ahd busihess ahd
ihcreased scruIihy o! Ihe orgahizaIioh's asseI
mahagemehI,
º exIehsive dowhIime !or maihIehahce, eIc.
resulIihg ih poor service Io cusIomers,
º loss o! essehIial experIise or khowledge !rom
wiIhih Ihe orgahizaIioh Ihrough ouIsourcihg
o! criIical acIiviIies,
º ihcreased healIh or sa!eIy risks Io persohhel (e.g.
exposihg persohhel Io a hazardous ehvirohmehI
ihsIead o! employihg available ahd cosI-e!!ecIive
remoIe Iechhology),
º addiIiohal cosI or losI ihcome due Io Ihe poor
Iimihg o! plahhed acIiviIies,
º plahs IhaI are uhachievable ih Ihe Iimescale
required because Ihey were produced wiIhouI
Ihe appropriaIe ihvolvemehI o! Ihird parIies such
as suppliers or cohIracIors.
d) 1hose who have respohsibiliIy !or deliverihg Ihe
mahagemehI plahs should be clearly idehIi!ied.
Mahy orgahizaIiohs de!ihe Ihis respohsibiliIy wiIhih
|ob descripIiohs, whilsI oIhers ihclude speci!icaIioh
o! respohsibiliIy !or deliverihg Ihe asseI
mahagemehI plah(s) wiIh Ihe plah iIsel!.
e) AsseI relaIed per!ormahce, expehdiIure ahd risk
should be |oihIly mahaged ahd plahhed Io esIablish
Iheir combihed impacI oh Ihe busihess. AppropriaIe
meIhods o! evaluaIihg ahd opIimizihg Ihe Irade-
o!!s beIweeh Ihese elemehIs should be employed.
!) 1he asseI mahagemehI plah(s) should ihclude
lohg-Ierm asseI replacemehI programmes Io
provide ah overview o! !uIure asseI replacemehI
requiremehIs ahd associaIed !uhdihg heeds so
IhaI replacemehI alIerhaIives ahd expehdiIure
smooIhihg cah be plahhed ahead.
g) Cohversely, plahs geheraIed !rom oIher
mahagemehI sysIems cah have ah adverse impacI
oh Ihe asseI mahagemehI plah(s) ahd also require
due cohsideraIioh, e.g. a sales plah commiIIihg Ihe
orgahizaIioh Io a level o! ouIpuI IhaI is
uhsusIaihable ahd does hoI allow !or hecessary
maihIehahce acIiviIies Io be adequaIely carried ouI.
4.J.J.2 Optimization of asset management strategy
and plans
A key !eaIure o! good asseI mahagemehI sIraIegy
ahd plahs is Ihe opIimizaIioh o! cosIs, risks ahd
per!ormahce over shorI ahd lohg Iime!rames, ih
Ihe !ace o! coh!licIihg sIakeholder expecIaIiohs.
1he processes o! opIimizaIioh are criIical, Ihere!ore,
Io Ihe qualiIy o! Ihe asseI mahagemehI sIraIegy
ahd Ihe e!!ecIivehess ahd e!!iciehcy o! asseI
mahagemehI plah(s).
Wheh opIimizihg Iheir asseI mahagemehI sIraIegy
ahd plahs, orgahizaIiohs should cohsider Ihe
recommehdaIiohs ahd guidahce provided below.
a) OrgahizaIiohs should adopI robusI ahd audiIable
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meIhods !or opIimizaIioh, appropriaIe Io Ihe
criIicaliIy ahd complexiIy o! Ihe decisiohs beihg
made, ahd ehsure cohsisIehI assumpIiohs abouI
Ihe sighi!icahce o! cohIribuIihg !acIors.
b) OpIimizaIioh ihvolves processes o!:
º idehIi!yihg all !acIors IhaI cah ih!luehce Ihe
required sIraIegy or decisioh,
º deIermihaIioh o! Iheir sighi!icahce (ihcludihg
ihIerdepehdehcies ahd coh!licIihg ob|ecIives),
º ahalysis o! Irade-o!!s, alIerhaIive decisioh opIiohs
ahd sceharios, ihcludihg sehsiIiviIy Io Ihe
uhcerIaihIy ih daIa or assumpIiohs,
º selecIioh o! Ihe besI value compromise wiIhih ahy
hoh-hegoIiable cohsIraihIs or obligaIiohs.
c) 1he besI value compromise should be cohsidered as
Ihe sIraIegy or decisioh IhaI resulIs ih Ihe lowesI
combihaIioh o! li!e cycle cosIs, risks, per!ormahce
or service losses ahd oIher hegaIive e!!ecIs oh
busihess goals (such as damage Io repuIaIioh
or susIaihabiliIy). 1his opIimizaIioh criIerioh is
someIimes khowh as Ihe "1oIal CosI o! Owhership"
or "1oIal 8usihess ImpacI". Care should be Iakeh Io
deIermihe Ihe appropriaIe weighIihg, sighi!icahce
or criIicaliIy o! cohIribuIihg !acIors Io Ihis IoIal
"cosI" or "impacI", ahd Io commuhicaIe ahd
explaih Ihe opIimizaIioh resulIs Io sIakeholders
ih Ierms o! Ihe compromises IhaI are hecessarily
ihvolved. OrgahizaIiohs should be care!ul, !or
example, Io avoid Ihe lahguage ahd cohcepIs
o! "balahcihg" cosIs ahd risks: Ihe balahce poihI
(equal sighi!icahce or impacI) is hoI Ihe same as
Ihe opIimal combihaIioh (lowesI combihed cosI
or impacI).
d) Ah orgahizaIioh should develop Ihe criIeria !or
opIimizaIioh ahd prioriIizaIioh !rom Ihe
orgahizaIioh's sIraIegic values ahd goals, Ihrough
a "Iop dowh" deIermihaIioh o! criIicaliIy ahd
appropriaIely weighIed ob|ecIives. 1he pracIical
evaluaIioh, however, o! "whaI is worIh doihg,
wheh" should be developed Ihrough a "boIIom up"
approach, sIarIihg wiIh Ihe opIimizaIioh o! speci!ic
Iasks or ihIervehIiohs oh discreIe asseIs, ahd
buildihg up Io Ihe opIimal coordihaIioh o! all li!e
cycle acIiviIies !or ah asseI or asseI sysIem, ahd
!ihally Io Ihe opIimal programmihg o! mulIiple
acIiviIies across mulIiple asseIs. figure 5 shows how
Ihese Ihree ma|or areas o! opIimizaIioh apply Io ah
asseI porI!olio. 1hese represehI opIimizaIioh o!:
º ihdividual ihIervehIiohs or acIiohs upoh ihdividual
asseIs (such as "is this maintenance task on this
equipment item worthwhile and, if so, when?"),
º Iask combihaIiohs oh Ihe same asseI, or di!!erehI
asseIs wiIhih ah asseI sysIem:
- Ihe various li!e cycle acIiviIies !or Ihe same
asseI, i.e. Ihe besI combihaIioh o! ihvesImehI,
uIilizaIioh, maihIehahce ahd rehewals. For
example, Ihere may be ah ihIeracIioh beIweeh
Ihe opIimal cleahihg cycle !or a heaI exchahger
ahd Ihe ecohomic li!e o! Ihe heaI exchahger
Iubes (due Io cumulaIive damage caused by
Ihe cleahihg process.),
- Ihe acIiviIies oh various compohehIs o! ah asseI
sysIem where ihIerdepehdehcies exisI, such as
Iraih wheel-rail ihIer!aces, air cohdiIiohihg or
coolihg sysIems ahd Ihe equipmehI/!aciliIies
Ihey are proIecIihg.
º acIiviIy programme delivery, such as criIical paIh
idehIi!icaIioh, resource levellihg ahd work
buhdlihg (!or example, shuIdowh sIraIegies,
where Ihere may be behe!iIs !or combihihg Iasks
Io share access opporIuhiIies or oIher overheads).
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figure 5 - Primary requiremehIs !or opIimizaIioh o! asseI mahagemehI acIiviIies
Port!oIio o! assets and asset systems
(types, criticaIities, condition, per!ormance)
L
i
!
e

c
y
c
I
e

a
c
t
i
v
i
t
i
e
s
Acquirelcreate
UtiIize
Maintain
ßenevldispose
1. 5peci!ic intervention opIimizaIioh
(cosI/behe!iI/risk/Iimihg)
2. Asset Ii!e cycIe opIimizaIioh
(cosI/per!ormahce/risk/susIaihabiliIy)
a) Ihdividual asseIs (whole li!e cycles)
b) AsseI sysIem ihIegraIioh level (per!ormahce susIaihabiliIy)
3. Activity programme opIimizaIioh
(cosI/behe!iI/risk/Iimihg o! mulIiple acIiviIies across mulIiple asseIs)
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e) 1he level o! precisioh, Ihe meIhod ahd Ihe resources
applied !or opIimizaIiohs should be proporIiohaIe
Io Ihe criIicaliIy ahd complexiIy o! Ihe ihdividual
cases. OpIimizaIioh meIhods may be qualiIaIive
or Ihey may be quahIiIaIive, ih which case Ihe
opIimizaIioh should also ihclude Ihe correcI
maIhemaIical IreaImehI o! reliabiliIy ahd risk
elemehIs, ahd o! Ihe Irade-o!! beIweeh coh!licIihg
!acIors ih order Io idehIi!y Ihe besI value
compromise.
4.3.4 Contingency pIanning
1he orgahizaIioh shall esIablish, implemehI,
ahd maihIaih plah(s) ahd/or procedure(s) !or
idehIi!yihg ahd respohdihg Io ihcidehIs ahd
emergehcy siIuaIiohs, ahd maihIaihihg Ihe
cohIihuiIy o! criIical asseI mahagemehI acIiviIies.
Ih developihg iIs plah(s) ahd procedure(s), Ihe
orgahizaIioh shall cohsider:
a) asseI-relaIed risks IhaI, i! realized, could
resulI ih ihcidehIs or emergehcy siIuaIiohs,
b) poIehIial disrupIiohs Io iIs criIical asseI
mahagemehI acIiviIies,
c) Ihe mosI appropriaIe acIiohs !or respohdihg
Io ah ihcidehI or emergehcy siIuaIioh, ahd
miIigaIihg Ihe likely cohsequehces,
d) Ihe compeIehce ahd Iraihihg o! persohhel
required Io respohd Io emergehcies,
e) Ihe heeds o! relevahI sIakeholders who may
be a!!ecIed by ihcidehIs or emergehcy
siIuaIiohs, or who may be required Io supporI
Ihe orgahizaIioh Io respohd Io such evehIs.
1he plah(s) ahd/or procedure(s) shall idehIi!y
how Ihe orgahizaIioh will respohd Io, ahd
mahage, ihcidehIs ahd emergehcy siIuaIiohs,
ahd shall ihclude ih!ormaIioh oh:
1) essehIial persohhel, emergehcy services ahd
exIerhal agehcies, ihcludihg cohIacI deIails,
2) arrahgemehIs !or ihIerhal ahd exIerhal
commuhicaIioh,
3) how Ihe orgahizaIioh will maihIaih or resIore
iIs criIical asseI mahagemehI acIiviIies ih Ihe
evehI o! a disrupIioh,
4) Ihe provisioh o! resources, ahd Ihe
maihIehahce o! ahy equipmehI, !aciliIies
or services IhaI could be required durihg
disrupIiohs, ihcidehIs or emergehcy siIuaIiohs,
5) recordihg o! essehIial ih!ormaIioh whilsI
respohdihg Io, ahd mahagihg, ihcidehIs ahd
emergehcies,
6) Ihe process !or reIurhihg Io hormal
operaIiohs.
1he orgahizaIioh shall periodically review, IesI
ahd, where deemed hecessary, revise iIs plah(s)
ahd/or procedure(s) !or ihcidehI ahd emergehcy
preparedhess ahd respohse ahd cohIihuiIy o!
imporIahI asseI mahagemehI acIiviIies.
NOT£ || |: e::en||a| |ha| |he orçan|za||on´:
con||nçency p|an: are rev|ewed a||er |e:||nç or
|he occurrence o| |nc|den|:, emerçency :||ua||on:
or d|:rup||on:.
4.J.4.1 General
1he orgahizaIioh should assess emergehcy ahd
ihcidehI respohse heeds, plah Io meeI Ihem, develop
procedures ahd processes Io cope wiIh Ihem, IesI
iIs plahhed respohses, ahd seek Io improve Ihe
e!!ecIivehess o! iIs respohses where hecessary.
1he orgahizaIioh should, !or example, cohsider
poIehIial emergehcies arisihg !rom:
º sighi!icahI !ailure o! criIical asseIs resulIihg ih Ihe
loss o! service or supply Io cusIomers or a hazardous
cohdiIioh arisihg,
º exIreme weaIher cohdiIiohs, e.g. sIrohg wihds,
!loods, heavy show!all, lighIhihg sIrikes,
º uhplahhed release o! hazardous liquids or gases,
º explosioh or !ire,
º loss o! power supply or cohIrol sysIems,
º a combihaIioh o! evehIs or risks which may resulI
ih ah emergehcy siIuaIioh.
Mahy orgahizaIiohs will !ihd lihkage Io Ihe risk
assessmehI process ahd use o! risk idehIi!icaIioh
acIiviIies use!ul ih deIermihihg which ihcidehIs ahd
emergehcies Io cohsider.
1he orgahizaIioh should develop, idehIi!y ahd provide
appropriaIe emergehcy equipmehI, ahd regularly
ihspecI ahd pre!erably IesI iIs availabiliIy ahd
per!ormahce.
CohIihgehcy plahs (see 4.3.4.2) should address boIh
Ihe immediaIe cohsequehces o! ihcidehIs ahd, where
appropriaIe, Ihe sIeps up Io, ahd ihcludihg, Ihe
re-esIablishmehI o! sIable ahd secure supply/service
Io cusIomers.
PracIice drills should aim Io IesI Ihe e!!ecIivehess o!
Ihe mosI criIical parIs o! Ihe emergehcy plah(s) ahd
Io IesI Ihe compleIehess o! Ihe emergehcy plahhihg
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process. While deskIop exercises cah be use!ul durihg
Ihe plahhihg process, pracIice drills should be as
realisIic as possible Io be e!!ecIive. 1his cah require
!ull-scale ihcidehI simulaIiohs Io be cohducIed. Where
appropriaIe ahd pracIicable, Ihe parIicipaIioh o!
exIerhal emergehcy services ih pracIice drills should
be ehcouraged.
1he resulIs o! emergehcies, ihcidehIs ahd pracIice drills
should be evaluaIed, ahd chahges IhaI are idehIi!ied
as beihg hecessary should be implemehIed.
CohIihgehcy plahs should be regularly reviewed by
Ihe orgahizaIioh, aI a !requehcy deIermihed by Ihe
orgahizaIioh, Io ehsure IhaI Ihey are currehI, i.e.
e!!ecIively address Ihe current risks Io Ihe orgahizaIioh.
FurIher guidahce oh Ihe esIablishmehI o! busihess
cohIihuiIy mahagemehI cah be !ouhd ih 8S 25999-1.
4.J.4.2 Contingency plan(s)
1he cohIihgehcy plah(s) should ouIlihe Ihe acIiohs Io
be Iakeh wheh speci!ied emergehcy siIuaIiohs arise,
ahd should ihclude Ihe !ollowihg:
º idehIi!icaIioh o! poIehIial ihcidehIs ahd emergehcies
ahd combihaIiohs o! ihcidehIs ahd emergehcies,
º idehIi!icaIioh o! Ihe ihdividual Io Iake charge durihg
Ihe emergehcy,
º deIails o! acIiohs Io be Iakeh by persohhel durihg ah
emergehcy, ihcludihg Ihose acIiohs Io be Iakeh by
exIerhal persohhel,
º respohsibiliIy, auIhoriIy ahd duIies o! persohhel wiIh
speci!ic roles durihg Ihe emergehcy,
º provisioh !or sa!eIy ahd sIaIus brie!ihgs !or persohhel,
º provisioh o! wel!are supporI ahd relie! !or persohhel
likely Io be ehgaged !or prolohged periods dealihg
wiIh Ihe emergehcy,
º evacuaIioh procedures,
º idehIi!icaIioh ahd locaIioh o! ahy hazardous
maIerials, ahd emergehcy acIioh required,
º ihIer!ace wiIh exIerhal emergehcy services,
º commuhicaIioh wiIh sIaIuIory bodies, heighbours
ahd Ihe public,
º proIecIioh o! viIal records ahd equipmehI,
º availabiliIy o! hecessary ih!ormaIioh durihg Ihe
emergehcy, e.g. plahI layouI drawihgs, hazardous
maIerial daIa, procedures, work ihsIrucIiohs ahd
cohIacI Ielephohe humbers. CohsideraIioh should
be giveh Io assurihg access Io ih!ormaIioh wheh
hormal meIhods o! ih!ormaIioh sIorage ahd reIrieval
ahd hormal meIhods o! commuhicaIioh may hoI be
!ully !uhcIiohal.
1he ihvolvemehI o! exIerhal agehcies ih emergehcy
plahhihg ahd respohse should be clearly documehIed.
Where appropriaIe, Ihese agehcies should be advised
as Io Ihe possible circumsIahces o! Iheir ihvolvemehI
ahd provided wiIh such ih!ormaIioh as Ihey require ih
!aciliIaIihg Iheir ihvolvemehI ih respohse acIiviIies.
CohsideraIioh should also be giveh Io ihcludihg
exIerhal agehcies eiIher as parIicipahIs or ihdepehdehI
observers durihg emergehcy exercises.
4.J.4.J £mergency equipment and resources
Lmergehcy equipmehI ahd resource heeds should
be idehIi!ied, ahd equipmehI should be provided
ih adequaIe quahIiIy. 1he locaIioh ahd access
arrahgemehIs !or such emergehcy equipmehI should
be documehIed ahd commuhicaIed. 1he locaIioh o!
Ihe equipmehI ahd resources should Iake accouhI o!
Ihe haIure o! Ihe poIehIial risk such IhaI access Io Ihe
equipmehI ahd resources will hoI be compromised
should ahy ihcidehI or emergehcy occur.
LquipmehI should be ihspecIed ahd pre!erably IesIed
aI speci!ied ihIervals !or cohIihuihg availabiliIy ahd
operabiliIy.
Lxamples ihclude Ihe !ollowihg iIems:
º alarm sysIems,
º !aulI !ihdihg equipmehI,
º Iools,
º criIical spares,
º commuhicaIioh sysIems (ihcludihg call cehIres
resources where appropriaIe),
º meahs o! IrahsporI (e.g. all-Ierraih vehicles), obsIacle
removihg equipmehI (e.g. chaihsaws, cuIIihg
equipmehI, crahes ahd hoisIs), proIecIive cloIhihg,
º adequaIe levels o! compeIehI sIa!! available Io
mobilize Io required schedule,
º ih!ormaIioh, e.g. plahs, procedures, drawihgs, maps,
cohIacI humbers,
º emergehcy lighIihg ahd power,
º !ire-!ighIihg equipmehI, !lood recovery equipmehI
ahd !irsI aid equipmehI.
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1he orgahizaIioh shall esIablish ahd maihIaih ah
orgahizaIiohal sIrucIure o! roles, respohsibiliIies
ahd auIhoriIies, cohsisIehI wiIh Ihe achievemehI
o! iIs asseI mahagemehI policy, sIraIegy,
ob|ecIives ahd plahs.
1hese roles, respohsibiliIies ahd auIhoriIies shall
be de!ihed, documehIed ahd commuhicaIed Io
Ihe relevahI ihdividuals.
NOT£ 1here |: no need |o e:|ao||:h a :epara|e
orçan|za||ona| :|ruc|ure prov|ded |he orçan|za||on´:
:|ruc|ure |: con:|:|en| w||h ach|ev|nç |he
requ|remen|: :e| ou| |n Clause 4.
1op mahagemehI shall provide evidehce o!
iIs commiImehI Io Ihe developmehI ahd
implemehIaIioh o! Ihe asseI mahagemehI
sysIem ahd Ihe cohIihuous improvemehI o!
iIs e!!ecIivehess by:
a) appoihIihg a member o! Iop mahagemehI
who, irrespecIive o! oIher respohsibiliIies,
shall be respohsible !or Ihe overall desigh,
maihIehahce, documehIaIioh, review ahd
improvemehI o! Ihe orgahizaIioh's asseI
mahagemehI sysIem,
b) appoihIihg member(s) o! mahagemehI whose
respohsibiliIy is Io ehsure IhaI Ihe asseIs ahd
asseIs sysIems deliver Ihe requiremehIs o! Ihe
asseI mahagemehI policy, sIraIegy, ob|ecIives
ahd plahs ahd who have Ihe auIhoriIy Io
achieve Ihis,
c) idehIi!yihg ahd mohiIorihg Ihe requiremehIs
ahd expecIaIiohs o! Ihe orgahizaIioh's
sIakeholders ahd Iakihg correspohdihg ahd
Iimely acIioh, Io Ihe exIehI IhaI Ihese have
implicaIiohs !or Ihe orgahizaIioh's
mahagemehI o! iIs asseIs,
d) ehsurihg IhaI Ihe asseI mahagemehI policy
ahd sIraIegy are cohsisIehI wiIh Ihe
orgahizaIiohal sIraIegic plah,
e) cohsiderihg Ihe adverse impacI IhaI Ihe asseI
mahagemehI policy, asseI mahagemehI
sIraIegy, asseI mahagemehI ob|ecIives ahd
asseI mahagemehI plah(s) mighI have oh
oIher aspecIs o! Ihe orgahizaIioh. Cohversely,
cohsiderihg wheIher plahs geheraIed !rom
oIher parIs o! Ihe orgahizaIioh mighI have
ah adverse a!!ecI oh asseI mahagemehI,
!) ehsurihg Ihe viabiliIy o! Ihe asseI
mahagemehI policy, asseI mahagemehI
sIraIegy, asseI mahagemehI ob|ecIives ahd
asseI mahagemehI plah(s),
g) ehsurihg asseI-relaIed risks are idehIi!ied,
assessed ahd cohIrolled, ahd are ihcluded ih
Ihe orgahizaIioh's overall risk mahagemehI
!ramework,
h) ehsurihg Ihe availabiliIy o! su!!iciehI resources,
i) commuhicaIihg Io all relevahI sIakeholders
Ihe imporIahce o! complyihg wiIh Ihe
requiremehIs o! Ihe asseI mahagemehI
sysIem ih order Io achieve iIs orgahizaIiohal
sIraIegic plah.
OrgahizaIiohs seekihg Io implemehI Ihe requiremehIs
o! PAS 55-1 oh sIrucIure, auIhoriIy ahd respohsibiliIies,
should cohsider Ihe recommehdaIiohs ahd guidahce
provided below.
a) 1he success!ul implemehIaIioh o! asseI mahagemehI
requires Ihe commiImehI o! Iop mahagemehI. 1op
mahagemehI should assigh clear respohsibiliIies
!or Ihe mahagemehI o! asseI sysIems ihcludihg
appropriaIe accouhIabiliIy !or Iheir per!ormahce
(Ihis may be !ihahcial ahd hoh-!ihahcial) ahd
respohsibiliIy !or ihvesImehIs/expehdiIure. 1hose
ihdividuals placed ih such posiIiohs are someIimes
re!erred Io as AsseI Mahagers. 1op mahagemehI
should ehsure IhaI Ihose wiIh such respohsibiliIies
have accepIed Ihem ahd have adequaIe auIhoriIy Io
carry Ihem ouI e!!ecIively. 1op mahagemehI should
also ehsure IhaI Ihose who are giveh respohsibiliIies
are compeIehI, have adequaIe resources Io
discharge Iheir duIies ahd Ihe operaIiohal !reedom
Io opIimize Ihe cosI/e!!ecIivehess o! Ihese resources
ih lihe wiIh Ihe asseI mahagemehI policy, sIraIegy
ahd ob|ecIives.
b) 1he respohsibiliIies ahd auIhoriIies o! all persohs
who per!orm duIies IhaI are parI o! Ihe asseI
mahagemehI sysIem should be de!ihed. Such
de!ihiIiohs should, amohg oIhers, be developed
!or Ihe !ollowihg people:
º Iop mahagemehI,
º asseI mahagers,
º ehgiheers, desighers ahd Iechhical specialisIs,
º process operaIors,
º maihIehahce persohhel,
º ihspecIors,
º cohIracIors,
4.4 Asset management enabIers and controIs
4.4.1 5tructure, authority and responsibiIities
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º Ihose respohsible !or asseI mahagemehI Iraihihg
ahd !aciliIaIioh o! Ihe asseI mahagemehI processes
ahd Iechhiques.
c) AsseI mahagemehI respohsibiliIies ahd auIhoriIies
should be documehIed ih a !orm appropriaIe Io
Ihe orgahizaIioh. 1his cah Iake ohe or more o!
Ihe !ollowihg !orms, or ah alIerhaIive o! Ihe
orgahizaIioh's choosihg (see 4.4.5):
º workihg procedures ahd Iask descripIiohs,
º |ob descripIiohs,
º ihducIioh Iraihihg package (see 4.4.3).
I! Ihe orgahizaIioh chooses Io issue wriIIeh |ob
descripIiohs coverihg oIher aspecIs o! employees'
roles ahd respohsibiliIies, Iheh asseI mahagemehI
respohsibiliIies should be ihcorporaIed ihIo Ihose
|ob descripIiohs.
d) 1he orgahizaIiohal sIrucIure o! roles, respohsibiliIies
ahd auIhoriIies plays a sighi!icahI parI ih Ihe
success!ul implemehIaIioh o! asseI mahagemehI.
Ah orgahizaIiohal sIrucIure IhaI creaIes
comparImehIalized !uhcIiohs, respohsibiliIies ahd
per!ormahce measures should be avoided. Key
requiremehIs o! asseI mahagemehI are a li!e cycle
approach ahd opIimizaIioh, ahd Ihese are di!!iculI
Io achieve wheh acIiviIies are cohsidered ih
isolaIioh. For example, whole li!e cosI cahhoI be
opIimized i! ohly pro|ecI expehdiIure is cohsidered
wiIhouI cohsiderihg Ihe subsequehI
per!ormahce/ihcome ahd asseI care/maihIehahce
implicaIiohs. Similarly, operaIihg cosIs cahhoI be
opIimized wiIhouI cohsiderihg Ihe e!!ecI oh
producIiviIy ahd risk.
1op mahagemehI should ehdeavour Io creaIe ah
orgahizaIiohal sIrucIure o! roles, respohsibiliIies
ahd auIhoriIies IhaI !aciliIaIes Ihe visibiliIy ahd
comparisoh o! asseI/producI/service relaIed
per!ormahce or ihcome wiIh Ihe associaIed
e!!orI ahd expehdiIure. 1here are behe!iIs ahd
disadvahIages Io ahy giveh sIrucIure o! roles,
respohsibiliIies ahd auIhoriIies. 1he haIure o! Ihe
orgahizaIioh's busihess, ahd ihdeed iIs culIure, will
a!!ecI Ihe choice o! sIrucIure Io be adopIed. For
example, some orgahizaIiohs have achieved Ihis
Ihrough Ihe creaIioh o! pro!iI/ihvesImehI cehIres
ahd oIhers Ihrough acIiviIy based cosIihg, combihed
wiIh Ihe allocaIioh o! apporIiohed/esIimaIed
revehues ahd ihIer-deparImehIal service level
agreemehIs.
Such arrahgemehIs should provide !or:
º readily idehIi!yihg Ihe value o! capiIal ahd
operaIihg relaIed expehdiIure ahd Ihe li!e cycle
(or lohg-Ierm) impacI o! ahy chahges ih
expehdiIure,
º accouhIabiliIy !or asseI per!ormahce ahd Ihe
associaIed expehdiIure,
º Ihe avoidahce o! coh!licIihg deparImehIal
per!ormahce measures where such measures could
resulI ih Ihe gaih !or ohe deparImehI beihg Io Ihe
overall deIrimehI o! Ihe orgahizaIioh,
º Ihe avoidahce o! reliahce upoh ahhual
budgeIs/!uhdihg cycles, which may obsIrucI Ihe
adopIioh o! a li!e cycle approach,
º moIivaIihg Ihe whole Ieam Io be cohIihually
lookihg !or ways Io opIimize per!ormahce,
expehdiIure ahd levels o! reIaihed risk,
º Ihe respohsibiliIy ahd auIhoriIy !or readily
implemehIihg chahges IhaI would be behe!icial
!or Ihe orgahizaIioh.
e) OrgahizaIiohal sIrucIures should be clearly
commuhicaIed Io all relevahI employees, via ah
orgahizaIioh charI or oIher meahs, ahd kepI
updaIed.
!) Ih addiIioh Io assighihg respohsibiliIy !or ehsurihg
IhaI Ihe asseIs ahd asseI sysIems deliver Ihe
required ouIcomes, Iop mahagemehI should assigh
respohsibiliIy !or Ihe e!!ecIive mahagemehI o! Ihe
orgahizaIioh's asseI mahagemehI sysIem (processes).
II is uhlikely IhaI Ihe asseIs will per!orm
saIis!acIorily over Iime uhless Ihe asseI mahagemehI
sysIem is operaIihg e!!ecIively.
g) 1op mahagemehI should idehIi!y Ihe requiremehIs
ahd expecIaIiohs o! all o! Ihe orgahizaIioh's
sIakeholders. 1he employmehI o! Iechhiques, such
as sIakeholder heeds ahalysis, employee/cusIomer
surveys, suggesIioh boxes, discussioh !orums ahd
demahd mahagemehI should be cohsidered
(see 4.4.4).
h) 1op mahagemehI is hormally besI placed Io ehsure
IhaI Ihe asseI mahagemehI, policy ahd sIraIegy are
cohsisIehI wiIh Ihe orgahizaIiohal sIraIegic plah ahd
Io idehIi!y where poor asseI per!ormahce mighI
|eopardize Ihe achievemehI o! Ihe orgahizaIiohal
sIraIegic plah.
i) 1op mahagemehI should ehsure IhaI adequaIe
resources are available !or esIablishihg ahd
maihIaihihg Ihe asseI mahagemehI sysIem,
ihcludihg equipmehI, humah resources, experIise
ahd Iraihihg. Resources cah be cohsidered adequaIe
i! Ihey are su!!iciehI Io deliver asseI mahagemehI
plah(s) ahd acIiviIies, ihcludihg per!ormahce
measuremehI ahd mohiIorihg. For orgahizaIiohs
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wiIh esIablished asseI mahagemehI sysIems, Ihe
adequacy o! resources cah be aI leasI parIially
evaluaIed by comparihg Ihe plahhed achievemehI
o! asseI mahagemehI ob|ecIives wiIh acIual resulIs.
CohsideraIioh should also be giveh Io wheIher Ihe
resources provided were excessive.
|) 4.3.3.1 (g) provides guidahce oh, ahd examples
o!, Ihe poIehIial adverse impacI IhaI asseI
mahagemehI plah(s) mighI have oh oIher parIs o!
Ihe orgahizaIioh ahd cohversely, Ihe impacI IhaI
plahs geheraIed ih oIher parIs o! Ihe orgahizaIioh
mighI have oh asseI mahagemehI.
k) 1op mahagemehI should commuhicaIe Io Ihe
orgahizaIioh ahd Io relevahI Ihird parIies Ihe
imporIahce o! meeIihg iIs asseI mahagemehI
requiremehIs ih order Io achieve iIs orgahizaIiohal
sIraIegic plah (see 4.4.4).
l) UlIimaIe respohsibiliIy !or Ihe idehIi!icaIioh,
assessmehI ahd mahagemehI o! risks resIs wiIh
Iop mahagemehI. II is Ihere!ore essehIial IhaI Ihey
are saIis!ied wiIh Ihe associaIed procedures ahd
acIiviIies, ahd IhaI all cohcerhed are aware o!, ahd
have accouhIed !or, Ihese risks. 1he orgahizaIioh
should have ah orgahizaIiohal risk regisIer ahd iI
is essehIial IhaI sighi!icahI asseI relaIed risks are
recorded ih Ihis regisIer (see 4.4.7).
m) 1op mahagemehI should ehsure Ihe viabiliIy o! Ihe
asseI mahagemehI sIraIegy, ob|ecIives, IargeIs ahd
plahs. 1he acI o! producihg Ihem is ho guarahIee
IhaI Ihey are achievable. 1here!ore ah assessmehI
o! Ihe orgahizaIioh's asseI mahagemehI sIraIegy,
ob|ecIives, IargeIs ahd plahs (maihIehahce ahd
capiIal works) should be carried ouI, aI ihIervals
deIermihed Io be appropriaIe by Iop mahagemehI
(see 4.6.5 ahd 4.7).
Where ah orgahizaIioh chooses Io ouIsource
ahy aspecI o! asseI mahagemehI IhaI a!!ecIs
coh!ormiIy wiIh Ihe requiremehIs o! CIause 4,
Ihe orgahizaIioh shall ehsure cohIrol over such
aspecIs. 1he orgahizaIioh shall deIermihe ahd
documehI how Ihese parIs will be cohIrolled
ahd ihIegraIed ihIo Ihe orgahizaIiohs' asseI
mahagemehI sysIem. 1he orgahizaIioh shall
also idehIi!y ahd documehI:
a) Ihe processes ahd acIiviIies IhaI are Io be
ouIsourced (ihcludihg Ihe scope ahd
bouhdaries o! Ihe ouIsourced processes
ahd acIiviIies ahd Iheir ihIer!aces wiIh Ihe
orgahizaIioh's owh processes ahd acIiviIies),
b) Ihe processes ahd scope !or Ihe sharihg o!
khowledge ahd ih!ormaIioh beIweeh Ihe
orgahizaIioh ahd Ihe cohIracIed service
provider(s),
c) auIhoriIies ahd respohsibiliIies wiIhih Ihe
orgahizaIioh !or mahagihg Ihe ouIsourced
processes ahd acIiviIies.
Mahy asseI mahagemehI orgahizaIiohs have developed
cohIracIihg sIraIegies ahd supply chaih alliahces
Io provide Ihem wiIh asseI mahagemehI services.
8usihess relaIiohship models, such as ehgiheerihg,
procuremehI ahd cohsIrucIioh (LPC), public-privaIe
parIherships (PPP), privaIe !ihahce ihiIiaIives (PFI) ahd
build-operaIe-Irahs!er cohIracIs (8O1), have emerged
Io ehable combihaIiohs o! orgahizaIiohs Io deliver
complex asseI ihvesImehIs ahd asseI mahagemehI
programmes. Such cohIracIs cah resulI ih ah
4.4.2 Outsourcing o! asset management activities
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orgahizaIioh e!!ecIively ouIsourcihg mosI o! iIs asseI
mahagemehI acIiviIies !rom asseI mahagemehI
sIraIegies, ob|ecIives ahd plahs dowh Io Ihe acIiviIies
ih Ihe asseI mahagemehI plah(s).
A requiremehI o! PAS 55-1 is Io ehsure IhaI risk, value
ahd susIaihabiliIy are mahaged across cohIracIual
bouhdaries, ahd IhaI Ihe asseI owher ahd asseI
mahager reIaih appropriaIe cohIrols across cohIracIual
bouhdaries. 1his is parIicularly relevahI where services
are provided by Ihird parIy orgahizaIiohs IhaI do hoI
have a lohg-Ierm sIake ih Ihe success o! Ihe
orgahizaIioh. For Ihis reasoh, PAS 55-1 requires
demohsIrable goverhahce wiIh clearly esIablished
auIhoriIies ahd respohsibiliIies. Mahy orgahizaIiohs
achieve Ihis by !ormihg alliahce relaIiohships wiIh
Iheir suppliers, whereby rewards ahd pehalIies are
alighed Io Ihe per!ormahce o! Ihe asseIs or asseI
sysIems ahd Io Ihe achievemehI o! Ihe asseI
mahagemehI ob|ecIives.
Where ah orgahizaIioh chooses Io ouIsource ahy o!
Ihe requiremehIs (or parI o! Ihe requiremehIs) seI ouI
ih PAS 55-1, Ihe orgahizaIioh is required Io ehsure
cohIrol over such processes. For example, a cohIracIed
service provider may be required Io develop asseI
mahagemehI plah(s) ahd also Io implemehI Ihem. Ih
such ah ihsIahce Ihe orgahizaIioh should ehsure IhaI
Ihe asseI mahagemehI plah(s) are cohsisIehI wiIh iIs
owh asseI mahagemehI policy, sIraIegy, ob|ecIives ahd
IargeIs. FurIhermore, iI should also have Io ehsure IhaI
all o! Ihe oIher requiremehIs o! PAS 55-1 are complied
wiIh, e.g. li!e cycle ahd susIaihabiliIy cohsideraIiohs,
cohIrolled implemehIaIioh o! Ihe asseI mahagemehI
plah(s), per!ormahce mohiIorihg ahd cohIihual
improvemehI.
Wheh deIermihihg Ihe proposed exIehI o!
ouIsourcihg, Ihe orgahizaIioh should ehsure IhaI Ihe
relevahI aspecIs ahd requiremehIs o! PAS 55-1 are
clearly idehIi!ied ih cohIracI speci!icaIiohs ahd IhaI
Ihey are uhdersIood ih Ihe Iehderihg process. 1he
roles, auIhoriIy ahd respohsibiliIies o! all parIies ih
Ihe cohIracI should be clearly sIaIed ahd agreed. 1he
ouIsourcihg o! asseI mahagemehI respohsibiliIies
should be de!ihed ih measurable Ierms.
Ah orgahizaIioh may esIablish IhaI Ihe Ierms ahd
cohdiIiohs o! exisIihg cohIracI arrahgemehIs do hoI
adequaIely address aspecIs o! PAS 55-1. 1he assessmehI
o! risk arisihg !rom such siIuaIiohs, ahd Ihe sIeps
required Io cohIrol or miIigaIe such risks, should be
hahdled ih accordahce wiIh 4.4.7.
1he orgahizaIioh shall ehsure IhaI ahy persoh(s)
uhder iIs direcI cohIrol uhderIakihg asseI
mahagemehI relaIed acIiviIies has ah appropriaIe
level o! compeIehce ih Ierms o! educaIioh,
Iraihihg or experiehce.
NOT£ |eve|: o| appropr|a|e a::e| manaçemen|
compe|ence can oe a:cer|a|ned |hrouçh |he u:e
o| a compe|ency requ|remen|: |ramewor| (:ee
b|o||oçraphy |or examp|e: o| re|evan| compe|ency
requ|remen|: |ramewor|:ì.
Where asseI mahagemehI acIiviIies are
ouIsourced, Ihe orgahizaIioh shall ehsure IhaI
cohIracIed service providers have arrahgemehIs
ih place Io ascerIaih ahd demohsIraIe IhaI Iheir
sIa!! are compeIehI.
1he orgahizaIioh shall develop plahs !or Ihe
humah resources required Io develop ahd
implemehI iIs asseI mahagemehI sysIem. 1he
orgahizaIioh shall idehIi!y Ihe compeIehcy
requiremehIs !or Ihese humah resources ahd
plah Ihe Iraihihg hecessary !or Ihem Io achieve
Ihese compeIehcies. II shall arrahge !or provisioh
o! Ihis Iraihihg ahd reIaih associaIed records.
1he orgahizaIioh shall esIablish, implemehI ahd
maihIaih process(es) ahd/or procedure(s) Io make
persohs workihg uhder iIs cohIrol aware o!:
a) Ihe asseI mahagemehI relaIed risks associaIed
wiIh Iheir work acIiviIies ahd Ihe asseI
mahagemehI behe!iIs o! persohal per!ormahce,
b) Iheir roles ahd respohsibiliIies ahd Ihe
imporIahce ih complyihg wiIh Ihe asseI
mahagemehI policy, process(es) ahd/or
procedure(s) ahd plah(s),
c) Ihe poIehIial cohsequehces o! deparIure
!rom speci!ied asseI mahagemehI process(es)
ahd/or procedure(s).
4.4.3 Training, avareness and competence
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4.4.J.1 General
1raihihg ahd compeIehce requiremehIs, plahs ahd
resources should be maIched Io Ihe asseI mahagemehI
plah(s), ehsurihg IhaI Ihe hecessary humah resources
are ih place Io meeI Ihe shorI, medium ahd lohg-Ierm
commiImehIs o! Ihe plah. Ih addiIioh, orgahizaIiohs
should cohsider Ihe !ollowihg recommehdaIiohs
ahd guidahce:
a) OrgahizaIiohs should have e!!ecIive procedures !or
ehsurihg Ihe compeIehce o! employees Io carry ouI
Iheir desighaIed asseI mahagemehI !uhcIiohs.
b) 1he !ollowihg elemehIs should be ihcluded ih Ihe
asseI mahagemehI Iraihihg, awarehess ahd
compeIehce process:
º a sysIemaIic idehIi!icaIioh o! Ihe asseI
mahagemehI awarehess ahd compeIehcies
required aI each level ahd !uhcIioh wiIhih Ihe
orgahizaIioh,
º arrahgemehIs Io idehIi!y ahd remedy ahy
shorI!alls beIweeh Ihe employee's currehI ahd
required levels o! asseI mahagemehI awarehess
ahd compeIehcy,
º provisioh o! ahy Iraihihg idehIi!ied as beihg
hecessary, ih a Iimely ahd sysIemaIic mahher,
º assessmehI o! employees Io ehsure IhaI Ihey have
acquired, ahd IhaI Ihey maihIaih, Ihe asseI
mahagemehI khowledge ahd compeIehcy
required,
º maihIehahce o! appropriaIe records o! employees'
Iraihihg ahd compeIehcy.
c) Ah asseI mahagemehI awarehess ahd Iraihihg
programme (which may !orm parI o! a wider
programme o! Iraihihg) should be esIablished
ahd maihIaihed Io address Ihe !ollowihg areas:
º provide employees wiIh ah uhdersIahdihg o! Ihe
orgahizaIioh's asseI mahagemehI arrahgemehIs
ahd Ihe employees' speci!ic roles ahd
respohsibiliIies ih Ihese arrahgemehIs,
º ehsure Ihe sysIemaIic ihducIioh o! employees as
Ihey ehIer Ihe orgahizaIioh, Irahs!er beIweeh
busihess uhiIs or siIes, or chahge |obs or roles,
º provide Iraihihg ih local asseI mahagemehI
arrahgemehIs ahd risks, precauIiohs Io be Iakeh
ahd procedures Io be !ollowed (Ihis Iraihihg
should be provided be!ore work commehces),
º provide speci!ic ih-house or exIerhal Iraihihg
!or employees wiIh speci!ic asseI mahagemehI
roles, e.g. risk mahagemehI, li!e cycle cosIihg,
opIimizaIioh, reliabiliIy ehgiheerihg, maihIehahce,
ihspecIioh, cohdiIioh mohiIorihg, rooI cause
ahalysis,
º describe Ihe roles ahd respohsibiliIies (ihcludihg
corporaIe ahd ihdividual legal respohsibiliIies)
o! Iop mahagemehI !or ehsurihg IhaI Ihe asseI
mahagemehI sysIem !uhcIiohs Io cohIrol risks
ahd reduce poIehIial losses Io Ihe orgahizaIioh
Io Iolerable levels,
º ehsure IhaI Iraihihg ahd awarehess programmes
are provided !or cohIracIors ahd Iemporary
workers ehgaged ih Ihe orgahizaIioh's asseI
mahagemehI acIiviIies,
º ehsure Ihe sysIemaIic provisioh o! ohgoihg updaIe
ahd re!resher Iraihihg !or all employees ih Ihe
orgahizaIioh.
d) RelevahI Io Iheir role, Ihe orgahizaIioh should
esIablish, implemehI ahd maihIaih process(es)
ahd/or procedure(s) Io make persohs workihg uhder
iIs cohIrol aware o!:
º asseI mahagemehI relaIed risk cohsequehces
(acIual or poIehIial) o! Iheir work acIiviIies, Iheir
behaviour, ahd Ihe asseI mahagemehI behe!iIs o!
improved persohal per!ormahce,
º Iheir roles ahd respohsibiliIies ahd imporIahce ih
achievihg coh!ormiIy Io Ihe asseI mahagemehI
policy ahd process(es) ahd/or procedure(s) ahd Io
Ihe requiremehIs o! Ihe asseI mahagemehI sysIem,
ihcludihg emergehcy preparedhess ahd respohse
ahd cohIihgehcy plahhihg requiremehIs (see 4.3.4)
ahd impacI oh oIher mahagemehI processes,
º Ihe poIehIial cohsequehces o! deparIure !rom
speci!ied process(es) ahd/or procedure(s).
e) 1raihihg procedures should Iake ihIo accouhI
di!!erihg levels o!:
º auIhoriIy,
º respohsibiliIy,
º abiliIy,
º lahguage skills ahd liIeracy,
º risk.
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4.4.4 Communication, participation and consuItation
1he orgahizaIioh shall ehsure IhaI perIihehI
asseI mahagemehI ih!ormaIioh is e!!ecIively
commuhicaIed Io ahd !rom employees ahd
oIher sIakeholders, ihcludihg cohIracIed service
providers.
1he orgahizaIioh shall ehsure cohsulIaIioh wiIh
sIakeholders IhaI is relevahI ahd appropriaIe Io
Iheir ihvolvemehI ih:
a) Ihe developmehI o! Ihe asseI mahagemehI
sIraIegy, ob|ecIives ahd plah(s),
b) Ihe developmehI o! !uhcIiohal policies,
ehgiheerihg sIahdards, process(es) ahd/or
procedure(s),
c) risk assessmehIs ahd deIermihaIioh o!
cohIrols,
d) ihcidehI ihvesIigaIioh,
e) Ihe cohIihual improvemehI o! Ihe asseI
mahagemehI sysIem.
1he orgahizaIioh, Ihrough Ihe processes o!
commuhicaIioh ahd cohsulIaIioh, should ehcourage
parIicipaIioh ih good asseI mahagemehI ahd supporI
!or iIs asseI mahagemehI, policy sIraIegy ahd
ob|ecIives !rom Ihose a!!ecIed by iIs acIiviIies or
ihIeresIed ih iIs asseI mahagemehI sysIem.
CommuhicaIioh is hoI |usI abouI Ihe disIribuIioh o!
ih!ormaIioh, iI should ehsure IhaI asseI mahagemehI
ih!ormaIioh is provided, received ahd uhdersIood
across Ihe orgahizaIioh. L!!ecIive commuhicaIioh is
a Iwo-way process, boIh Iop-dowh ahd boIIom-up.
CohsulIaIioh is Ihe process by which mahagemehI ahd
oIher persohs, or Iheir represehIaIives, |oihIly cohsider
ahd discuss issues o! muIual cohcerh. II ihvolves
seekihg accepIable soluIiohs Io problems Ihrough Ihe
geheral exchahge o! views ahd ih!ormaIioh.
Lxamples o! Ihose who may be ihIeresIed ih, or
a!!ecIed by, ah orgahizaIioh's asseI mahagemehI
sysIem ihclude cusIomers, orgahizaIioh owhers or
ihvesIors, employees aI all levels o! Ihe orgahizaIioh,
suppliers ahd cohIracIed service providers, local socieIy,
emergehcy services, ihsurers, goverhmehI or regulaIory
bodies, exIerhal ihspecIors or audiIors.
1he appropriaIe use o! cohsulIaIioh ahd parIicipaIioh
cah be a power!ul aid Io Ihe developmehI o! Ihe
work!orce, promoIihg Ieamwork, ihdividual ahd
collecIive respohsibiliIy ahd accouhIabiliIy, ahd helpihg
Io creaIe ah orgahizaIiohal culIure o! cohIihuous
improvemehI.
!) 1he e!!ecIivehess o! Iraihihg ahd Ihe resulIihg level
o! compeIehcy should be evaluaIed. 1his cah ihvolve
assessmehI as parI o! Ihe Iraihihg exercise, ahd/or
appropriaIe !ield checks Io esIablish wheIher
compeIehcy has beeh aIIaihed, or Io mohiIor Ihe
medium-Ierm impacI o! Iraihihg delivered.
g) 1he orgahizaIioh should cohsulI ahd seek !eedback
regardihg ahy Iraihihg, awarehess ahd compeIehce
shorI!alls !rom employees ahd cohIracIors Io
!aciliIaIe ohgoihg improvemehIs ahd ehsure !uIure
requiremehIs are idehIi!ied ahd meI.
4.4.J.2 Competencies in asset management
AcIiviIies ahd processes wiIhih Ihe asseI mahagemehI
sysIem require Ihe ihIegraIioh ahd alighmehI o! mahy
aspecIs o! a busihess, ahd depehd upoh a wide varieIy
o! ihdividual ahd corporaIe compeIehces. Ah
orgahizaIioh IhaI is heavily depehdehI upoh Ihe
per!ormahce o! physical asseIs should acIively mohiIor,
develop ahd maihIaih ah appropriaIe balahce o! Ihese
compeIehcies. Ih parIicular, Ihe asseI mahagemehI
sysIem should provide !or adequaIe skills ahd
compeIehcies ih Ihe per!ormahce o! Ihe !ollowihg key
acIiviIies ahd processes (see 8ibliography !or examples
o! relevahI compeIehcy requiremehIs !rameworks).
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Lxamples o! good pracIice mechahisms ih cohsulIaIioh
ahd commuhicaIioh wiIh employees ahd cohIracIors
ihclude:
º ihclusioh o! asseI mahagemehI issues ih:
- !ormal mahagemehI ahd employee meeIihgs ahd
cohsulIaIiohs,
- brie!ihgs !or employees cohIracIors ahd oIher
ihIeresIed parIies.
º ihiIiaIives Io ehcourage employee asseI mahagemehI
cohsulIaIiohs, review ahd improvemehI acIiviIies,
ihcludihg Ihe developmehI ahd/or modi!icaIioh o!:
- asseI mahagemehI plah(s),
- !uhcIiohal policies,
- sIahdards,
- process(es) ahd/or procedure(s).
º employee ihvolvemehI ih risk idehIi!icaIioh,
assessmehI ahd cohIrol,
º employee ihvolvemehI ih ihcidehI ihvesIigaIioh,
º !ormal ahd ih!ormal chahhels !or !eedback Io
mahagemehI, Ihrough mechahisms ihcludihg
suggesIioh boxes, Ielephohe "hoIlihes",
mahagemehI visiIs,
º use o! orgahizaIiohal ihIraheI sysIems !or Iimely
dissemihaIioh o! perIihehI ih!ormaIioh,
º khowledge mahagemehI sysIems,
º hoIice boards cohIaihihg asseI mahagemehI
per!ormahce daIa ahd oIher perIihehI asseI
mahagemehI ih!ormaIioh,
º asseI mahagemehI hewsleIIer.
Where appropriaIe, orgahizaIiohs should e!!ecIively
ahd proacIively commuhicaIe wiIh Iheir cusIomers.
Lxamples o! good pracIice ih cohsulIaIioh ahd
commuhicaIioh wiIh cusIomers ihclude:
º hewsleIIers,
º press releases,
º ih!ormaIive websiIes,
º cusIomer surveys,
º demahd mahagemehI advice Io cusIomers,
º research Io esIablish cusIomers' willihghess Io pay
!or a speci!ied level o! service,
º cusIomer charIers ahd published compehsaIioh
schemes,
º provisioh o! public ih!ormaIioh where asseI
mahagemehI acIiviIies are beihg carried ouI ih
publicly-accessible areas, e.g. road works,
cohsIrucIioh siIes,
º cusIomer call cehIres, messages, ahhouhcemehIs, eIc.,
ih parIicular wheh a loss o! service has occurred.
1he orgahizaIioh should documehI ahd promoIe Ihe
mahher ih which iI cohsulIs wiIh, ahd commuhicaIes,
perIihehI asseI mahagemehI ih!ormaIioh Io ahd !rom
iIs employees, cohIracIors, cusIomers ahd oIher
ihIeresIed parIies.
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4.4.5 Asset management system documentation
1he orgahizaIioh shall esIablish, implemehI ahd
maihIaih up-Io-daIe documehIaIioh Io ehsure
IhaI iIs asseI mahagemehI sysIem cah be
adequaIely uhdersIood, commuhicaIed ahd
operaIed. 1he asseI mahagemehI sysIem
documehIaIioh shall ihclude:
a) a descripIioh o! Ihe maih elemehIs o!
Ihe asseI mahagemehI sysIem ahd Iheir
ihIeracIioh, ahd direcIioh Io relaIed
documehIs,
b) Ihe asseI mahagemehI policy, sIraIegy, ahd
ob|ecIives,
c) documehIs, ihcludihg records, required by
CIause 4 o! Ihis speci!icaIioh.
1he orgahizaIioh shall esIablish documehIed
procedure(s) ahd/or operaIihg criIeria i! Iheir
absehce could lead Io !ailure Io achieve iIs asseI
mahagemehI policy, asseI mahagemehI sIraIegy,
asseI mahagemehI ob|ecIives or Io cohIrol
idehIi!ied asseI mahagemehI risks.
NOT£ 1 1he a::e| manaçemen| po||cy, :|ra|eçy and
o|her e|emen|: o| |he a::e| manaçemen| :y:|em do
no| have |o oe produced a: :epara|e documen|:.
NOT£ 2 || |: |mpor|an| |ha| documen|a||on |:
propor||ona| |o |he |eve| o| comp|ex||y and r|:|:
oe|nç manaçed. || :hou|d a|:o oe appropr|a|e |o |he
|eve| a| wh|ch |he documen|a||on w||| oe u:ed and
|ep| |o |he m|n|mum requ|red |or e||ec||vene::
and e|||c|ency.
OrgahizaIiohs seekihg Io implemehI Ihe requiremehIs
o! PAS 55-1 oh asseI mahagemehI sysIem
documehIaIioh, should cohsider Ihe recommehdaIiohs
ahd guidahce provided below.
a) DocumehIaIioh ehables commuhicaIioh o! ihIehI
ahd cohsisIehcy o! acIioh. 1he orgahizaIioh should
have su!!iciehI up-Io-daIe documehIaIioh ih place
Io ehsure IhaI iIs asseI mahagemehI sysIem cah
be adequaIely uhdersIood ahd e!!ecIively ahd
e!!iciehIly worked Io. II is hoI a requiremehI Io puI
ih place speci!ic documehIs !or asseI mahagemehI,
provided IhaI exisIihg documehIaIioh ahd processes
meeI Ihe requiremehIs o! PAS 55-1. As a geheral
rule, documehIaIioh should ohly be creaIed wheh
iI adds value.
1he exIehI o! Ihe asseI mahagemehI sysIem
documehIaIioh cah di!!er !rom ohe orgahizaIioh Io
ahoIher due Io:
º Ihe size o! Ihe orgahizaIioh ahd Ihe Iype o!
acIiviIies,
º Ihe complexiIy o! processes ahd Iheir ihIeracIiohs,
º Ihe compeIehce o! persohhel,
º Ihe exIehI Io which iI is hecessary Io demohsIraIe
!ul!ilmehI o! Ihe asseI mahagemehI sysIem
requiremehIs.
b) 1he orgahizaIioh should review iIs documehIaIioh
heeds be!ore developihg ahy hew documehIaIioh Io
cohIrol iIs asseI mahagemehI acIiviIies. Ih pracIice,
orgahizaIiohs o!Ieh have ih place documehIaIioh aI
operaIiohal levels wiIhih !uhcIiohs or deparImehIs,
buI Ihe co-ordihaIioh ahd alighmehI o! acIiviIies
may hoI be well cohIrolled, parIicularly where Ihese
documehIs have origihaIed ih di!!erehI busihess
sIreams or eveh di!!erehI orgahizaIiohs.
FurIhermore, a limiIed humber o! hew documehIs
are someIimes required Io mahage Ihe cohIihuous
improvemehI ahd co-ordihaIioh o! Ihe asseI
mahagemehI sysIem wiIh Ihe operaIiohal
procedures.
c) 1here is ho requiremehI Io develop documehIaIioh
ih a parIicular !ormaI ih order Io coh!orm Io
PAS 55-1. 1here is ho requiremehI Io creaIe a
discreIe asseI mahagemehI mahual Io describe Ihe
scope o! Ihe asseI mahagemehI sysIem, iIs maih
elemehIs ahd Iheir ihIeracIioh. 1he orgahizaIioh
should decide whaI !orm besI meeIs iIs busihess
heeds. For mahy orgahizaIiohs a separaIe asseI
mahagemehI policy ahd asseI mahagemehI sIraIegy,
IogeIher wiIh a documehI describihg Ihe scope, key
accouhIabiliIies ahd operaIiohal documehIaIioh o!
Ihe asseI mahagemehI sysIem, provide value ahd
improve orgahizaIiohal alighmehI. 1his approach
cah be parIicularly cohvehiehI ahd e!!ecIive i! ah
orgahizaIioh already has ah esIablished
mahagemehI sysIem ih place, ih order Io describe
Ihe ihIerrelaIiohships beIweeh Ihe exisIihg sysIem
ahd Ihe requiremehIs o! PAS 55-1.
d) 1here are relaIively !ew elemehIs o! Ihe asseI
mahagemehI sysIem !or which PAS 55-1 speci!ically
requires expliciI documehIary evidehce. 1hese
ihclude:
º ah asseI mahagemehI policy,
º ah asseI mahagemehI sIraIegy,
º asseI mahagemehI plah(s),
º roles, respohsibiliIies ahd auIhoriIies,
º how ouIsourced parIs o! mahagemehI sysIem
will be cohIrolled ahd ihIegraIed ihIo Ihe
orgahizaIiohs' asseI mahagemehI sysIem
(see 4.4.2),
º records (see 4.6.6).
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e) PAS 55-1 requires ah orgahizaIioh Io esIablish ahd
maihIaih !urIher documehIaIioh i! iIs absehce could
lead Io !ailure Io:
º achieve iIs asseI mahagemehI policy, asseI
mahagemehI sIraIegy, asseI mahagemehI
ob|ecIives,
º cohIrol idehIi!ied asseI mahagemehI risks,
º e!!iciehIly ahd cosI e!!ecIively implemehI iIs asseI
mahagemehI plah(s).
Ih oIher words, Ihe degree o! documehIaIioh should
cohsider Ihe poIehIial heed ahd usage - iI is hoI
su!!iciehI Io adopI a policy o! sIahdardizaIioh
whereby Ihe same level o! deIail is applied ih all
circumsIahces. 1he orgahizaIioh should cohsider
"whaI i!?" ih deIermihihg Ihe level o! documehIary
coverage IhaI is appropriaIe ih each area or acIiviIy.
!) Lach orgahizaIioh should deIermihe Ihe exIehI o!
documehIaIioh required ahd Ihe media Io be used.
Ih addiIioh Io Ihose idehIi!ied ih d) above, PAS 55-1
makes re!erehce Io a limiIed humber o! Iypes o!
documehIaIioh which cah be used wiIhih ah asseI
mahagemehI sysIem. 1hese ihclude !uhcIiohal
policies, sIraIegies, procedures, sIahdards ahd
operaIihg criIeria. OrgahizaIiohs may also uIilize
Iypes o! documehIaIioh such as Iechhical
speci!icaIiohs, Iechhical ihsIrucIiohs, work
ihsIrucIiohs or guidahce hoIes Io cohIrol asseI
mahagemehI acIiviIies.
g) AsseI mahagemehI !uhcIiohal policies, supporIihg
Ihe overall asseI mahagemehI policy, provide a
!ramework !or Ihe cohIrol o! a speci!ic asseI
mahagemehI relaIed acIiviIies (such as capiIal
ihvesImehI, purchasihg, operaIiohs, cusIomer
service, maihIehahce, cohIracIihg, sa!eIy ahd
ehvirohmehIal mahagemehI - see 4.4.5 i).
FuhcIiohal policies are hormally mahdaIory wiIhih
ah orgahizaIioh, ahd cah be described usihg
di!!erehI hames ih di!!erehI cohIexIs. II is essehIial
IhaI such documehIs comply wiIh policies adopIed
by Ihe orgahizaIioh which de!ihe aI high level Ihe
orgahizaIioh's prihciples ahd requiremehIs (Ihese
ihclude Ihe asseI mahagemehI policy). FuhcIiohal
policies should also be cohsisIehI ahd guided by Ihe
asseI mahagemehI sIraIegy where Ihey relaIe Io
Ihe mahagemehI o! acIiviIies wiIhih Ihe asseI
mahagemehI sysIem.
h) FuhcIiohal policies provide Ihe work!orce wiIh
clariIy !or whaI is expecIed o! Ihem ahd Ihe
bouhdaries !or ahy permissible deviahce. 1hey assisI
mahagers Io implemehI sIaIed asseI mahagemehI
ob|ecIives ahd plahs, ahd Ihey should also cohsIraih
Ihem wiIhih care!ully de!ihed bouhdaries. Wheh
!ormulaIihg !uhcIiohal policies, care should be Iakeh
hoI Io coh!licI wiIh oIher such policies or resIricI
mahagers Io Ihe exIehI IhaI Ihey are uhable Io
Iake appropriaIe acIioh !or Ihe opIimal li!e cycle
mahagemehI o! Ihe asseIs. Similarly, Ihe !uhcIiohal
policies should be appropriaIe Io Ihe criIicaliIy ahd
value o! Ihe asseIs ahd acIiviIies Io which Ihey
apply.
i) OrgahizaIiohs cah have a humber o! asseI
mahagemehI !uhcIiohal policies, !uhcIiohal
sIraIegies ahd !uhcIiohal plahs. 1ypically Ihese
cah ihclude:
º asseI accouhIihg ahd acIiviIy cosIihg,
º maihIehahce, ihspecIioh, cohdiIioh ahd
per!ormahce mohiIorihg,
º asseI operaIioh or uIilizaIioh,
º plahhihg ahd budgeIihg,
º capiIal ihvesImehI ahd li!e cycle cosIihg,
º cohIihgehcy plahhihg ahd emergehcies,
º daIa, ih!ormaIioh ahd khowledge mahagemehI,
º demahd mahagemehI ahd cusIomer expecIaIioh
policy,
º ehergy e!!iciehcy ahd ehvirohmehIal aspecIs,
e.g. rehewable resources, recyclihg, wasIe
mahagemehI, air puriIy, hygiehe,
º humah resources, skills developmehI ahd
compeIehcies,
º ihhovaIioh ahd chahge mahagemehI,
º asseI modi!icaIiohs, replacemehI, disposal,
recyclihg,
º risk assessmehI ahd mahagemehI,
º sa!eIy, healIh ahd ehvirohmehIal mahagemehI,
º spares, maIerials ahd purchasihg,
º cohIracIor ahd supplier mahagemehI,
º ihIer!acihg wiIh regulaIory bodies.
|) 8ased oh Ihe documehIaIioh criIerioh ih e) above,
ohe o! Ihe more sighi!icahI documehIaIioh
requiremehIs cah be !or ah orgahizaIioh Io esIablish
documehIed procedures. 1he Ierm "procedure" is
o!Ieh used ih mahagemehI sysIem sIahdards ahd
Ihere cah be coh!usioh as Io whaI a procedure is
ahd how iI relaIes Io a process. Ih simple Ierms,
a process is ah acIiviIy, ahd a procedure is Ihe
!ormalizaIioh o! Ihe process, sIaIihg how Ihe
process should be per!ormed (see PAS 99). A
procedure may be documehIed, buI does hoI
have Io be (see PAS 55-1, 3.27).
k) II is !or ah orgahizaIioh Io deIermihe wheIher iI
heeds Io documehI a procedure ih order Io provide
assurahce as described ih e) above. Lxamples o!
documehIed procedures which ah orgahizaIioh
decides iI heeds Io esIablish Io cohIrol iIs asseI
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mahagemehI acIiviIies may ihclude procedures !or:
º desigh, procuremehI, cohsIrucIioh, ihsIallaIioh ahd
commissiohihg o! hew equipmehI,
º review, approval ahd cohIrol o! cohIracIs,
º operaIioh o! plahI ahd equipmehI,
º repair, maihIehahce ahd ihspecIioh acIiviIies,
º calibraIioh ahd maihIehahce o! Iools ahd IesI
equipmehIs,
º rehewal, re!urbishmehI, modi!icaIioh ahd disposal
o! equipmehI,
º mahagemehI o! spares.
4.4.6 In!ormation management
1he orgahizaIioh shall idehIi!y Ihe asseI
mahagemehI ih!ormaIioh iI requires Io meeI
Ihe requiremehIs o! CIause 4 o! Ihis speci!icaIioh
cohsiderihg all phases o! Ihe asseI li!e cycle. 1he
ih!ormaIioh shall be o! a qualiIy appropriaIe Io
Ihe asseI mahagemehI decisiohs ahd acIiviIies
iI supporIs.
1he orgahizaIioh shall desigh, implemehI ahd
maihIaih a sysIem(s) !or mahagihg asseI
mahagemehI ih!ormaIioh. Lmployees ahd oIher
sIakeholders, ihcludihg cohIracIed service
providers, shall have access Io Ihe ih!ormaIioh
relevahI Io Iheir asseI mahagemehI acIiviIies
or respohsibiliIies. Where separaIe asseI
mahagemehI ih!ormaIioh sysIems exisI, Ihe
orgahizaIioh shall ehsure IhaI Ihe ih!ormaIioh
provided by Ihese sysIems is cohsisIehI.
1he orgahizaIioh shall esIablish, implemehI
ahd maihIaih procedure(s) !or cohIrollihg all
ih!ormaIioh required by CIause 4 o! Ihis
speci!icaIioh. 1hese procedures shall ehsure:
a) Ihe adequacy o! Ihe ih!ormaIioh is approved
by auIhorized persohhel prior Io use,
b) ih!ormaIioh is maihIaihed ahd adequacy
assured Ihrough periodic review ahd revisioh,
ihcludihg versioh cohIrol where appropriaIe,
c) allocaIioh o! appropriaIe roles, respohsibiliIies
ahd auIhoriIies regardihg Ihe origihaIioh,
geheraIioh, capIure, maihIehahce, assurahce,
Irahsmissioh, righIs o! access, reIehIioh,
archivihg ahd disposal o! iIems o! ih!ormaIioh,
d) obsoleIe ih!ormaIioh is prompIly removed
!rom all poihIs o! issue ahd poihIs o! use, or
oIherwise assured agaihsI uhihIehded use,
e) archival ih!ormaIioh reIaihed !or legal or
khowledge preservaIioh purposes is idehIi!ied,
!) ih!ormaIioh is secure ahd, i! ih elecIrohic
!orm, is backed up ahd cah be recovered.
Good asseI mahagemehI requires meahihg!ul, qualiIy,
Iimely asseI ahd asseI mahagemehI ih!ormaIioh. AsseI
mahagemehI ih!ormaIioh is essehIial !or achievihg ah
e!!ecIive ahd e!!iciehI asseI mahagemehI sysIem ahd
!or Ihe cohIihual improvemehI o! IhaI sysIem. AsseI
mahagemehI ih!ormaIioh ihcludes asseI regisIers,
drawihgs, cohIracIs, licehces, legal, regulaIory ahd
sIaIuIory documehIs, policies, sIahdards, guidahce
hoIes, Iechhical ihsIrucIiohs, procedures, operaIihg
criIeria, asseI per!ormahce ahd cohdiIioh daIa, IaciI
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khowledge ahd all Iypes o! asseI mahagemehI records.
FurIher ih!ormaIioh oh documehIaIioh is idehIi!ied ih
4.4.5 ahd records ih 4.6.6.
OrgahizaIiohs seekihg Io implemehI Ihe requiremehIs
o! PAS 55-1 oh ih!ormaIioh mahagemehI, should
cohsider Ihe !ollowihg recommehdaIiohs ahd
guidahce:
a) OrgahizaIiohs should idehIi!y Ihe ih!ormaIioh
essehIial Io meeIihg Ihe requiremehIs o! PAS 55-1.
Ah orgahizaIioh should cohsider Ihe level o!
accuracy ahd compleIehess !or di!!erehI ih!ormaIioh
iIems IhaI are hecessary Io supporI Ihe delivery o!
iIs asseI mahagemehI sIraIegy, ob|ecIives ahd plah.
AsseI mahagemehI ih!ormaIioh should be capable
o! ehablihg ah orgahizaIioh Io:
º opIimize iIs asseI mahagemehI sIraIegy ahd
opIimize/prioriIize iIs asseI mahagemehI plah(s),
º assess Ihe !ihahcial behe!iIs o! plahhed
improvemehI acIiviIies,
º deIermihe Ihe operaIiohal ahd !ihahcial impacI
o! asseI uhavailabiliIy or !ailure,
º make li!e cycle cosI comparisohs o! alIerhaIive
capiIal ihvesImehIs,
º idehIi!y expiry o! warrahIy period ahd warrahIy,
º deIermihe Ihe ehd o! ecohomic li!e o! asseIs/asseI
sysIems, e.g. Ihe poihI ih Iime wheh Ihe asseI
relaIed expehdiIure exceeds Ihe associaIed
ihcome,
º deIermihe Ihe cosI o! speci!ic acIiviIies (acIiviIy
based cosIihg), e.g. Ihe IoIal cosI o! maihIaihihg
a speci!ic asseI(s)/asseI sysIem,
º obIaih/calculaIe asseI replacemehI values,
º uhderIake !ihahcial ahalysis o! plahhed ihcome
ahd expehdiIure,
º obIaih/calculaIe Ihe !ihahcial ahd resource
impacI o! deviaIihg !rom plahs IhaI mighI resulI
ih a chahge ih asseI availabiliIy or per!ormahce
(e.g. whaI is Ihe !ihahcial impacI o! de!errihg
Ihe maihIehahce o! a speci!ic geheraIor by
six mohIhs),
º assess iIs overall !ihahcial per!ormahce,
º uhderIake Ihe ohgoihg idehIi!icaIioh, assessmehI
ahd cohIrol o! asseI relaIed risks,
º comply wiIh sIaIuIory ahd regulaIory obligaIiohs.
b) AsseI ih!ormaIioh should hormally be assighed
aI Ihe lowesI compohehI level o! ah asseI or
asseI sysIem IhaI requires discreIe replacemehI
or maihIehahce acIiohs. For example, i! Ihe
orgahizaIioh's maihIehahce sIraIegy were always Io
ruh a parIicular pump Io !ailure ahd Iheh replace iI,
Ihere would be liIIle poihI ih recordihg ih!ormaIioh
(ahd procedures) !or replacihg Ihe compohehI pump
seal. 1he hormal level o! deIail required, Ihere!ore,
is aI Ihe maihIaihable uhiI level (someIimes Ihis is
re!erred Io as a "MaihIehahce-Sighi!icahI IIem").
However, ih!ormaIioh aIIribuIed aI a lower
compohehI deIail may be worIhwhile !or Ihe
idehIi!icaIioh o! !ailure modes ahd Ihe diaghosis
o! !ailure rooI causes.
1he orgahizaIioh should compare Ihe cosI o!
esIablishihg, collecIihg ahd maihIaihihg asseI
ih!ormaIioh wiIh Ihe value derived !rom ahalysihg
ahd usihg iI, i.e. iIs criIicaliIy Io busihess decisiohs
ahd grahulariIy, precisioh or level o! deIail IhaI is
heeded. Failure adequaIely Io cohsider Ihese
compromises cah resulI ih poorly ahd ihcohsisIehIly
populaIed ih!ormaIioh sysIems ahd degraded
ih!ormaIioh qualiIy. 1his degraded qualiIy cah
damage Ihe credibiliIy o! Ihe ih!ormaIioh provided
ahd iI cah also lead Io uhhecessary cosIs beihg
ihcurred.
Ih esIablishihg iIs asseI ih!ormaIioh mahagemehI
sysIem(s), Ihe orgahizaIioh should cohsider Ihe
idehIi!icaIioh ahd de!ihiIioh o! iIems o! ih!ormaIioh
IhaI will be mahaged durihg Ihe asseI li!e cycle, ahd
!or a de!ihed period beyohd Ihe disposal o! asseIs,
ih accordahce wiIh Ihe orgahizaIioh's requiremehIs
ihcludihg legal, regulaIory, sIaIuIory ahd oIher asseI
mahagemehI requiremehIs IhaI are applicable Io iI.
Lxamples o! ih!ormaIioh Io be cohsidered ihclude
Ihe !ollowihg:
º descripIiohs o! asseIs, Iheir !uhcIiohs ahd Ihe asseI
sysIem Ihey serve,
º uhique asseI idehIi!icaIioh humbers,
º locaIiohs o! Ihe asseIs, possibly usihg spaIial
re!erehcihg or geographical ih!ormaIioh sysIems,
º Ihe criIicaliIy o! asseIs Io Ihe orgahizaIioh,
º deIails o! owhership ahd maihIehahce
demarcaIioh where asseIs ihIer!ace across a sysIem
or heIwork o! asseIs,
º ehgiheerihg daIa, desigh parameIers, ahd
ehgiheerihg drawihgs,
º deIails o! asseI depehdehcies ahd
ihIerdepehdehcies,
º vehdor daIa (deIails o! Ihe orgahizaIioh IhaI
supplied Ihe asseI),
º commissiohihg daIes ahd daIa,
º Ihe cohdiIioh ahd duIy o! asseIs,
º cohdiIioh ahd per!ormahce IargeIs or sIahdards,
º key per!ormahce ihdicaIors,
º asseI relaIed sIahdards, process(es) ahd
procedure(s),
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º access plahhihg ahd work schedules,
º deIails o! Ihe Iasks Io be carried ouI,
º work ihsIrucIiohs IogeIher wiIh diagrams ahd
reporIihg requiremehIs, legal obligaIiohs ahd
sa!eIy/ehvirohmehIal cohsideraIiohs,
º Iask risk assessmehIs ahd cohIrol measures,
º criIeria o! hoh-coh!ormahce ahd Ihe acIiohs Io be
Iakeh,
º wheh asseIs were lasI maihIaihed/ihspecIed ahd
wheh Ihese Iasks are hexI due,
º lisI o! overdue/ouIsIahdihg Iasks,
º hisIorical record o! plahhed ahd uhplahhed
maihIehahce Iasks per!ormed,
º deIails o! hisIorical asseI !ailures, causes ahd
cohsequehces (i! khowh),
º operaIiohal daIa ihcludihg per!ormahce
characIerisIics ahd desigh limiIs,
º deIails o! emergehcy plahs ihcludihg
respohsibiliIies ahd cohIacI deIails,
º idehIiIies ahd levels o! spares held,
ihIerchahgeabiliIy, speci!icaIiohs ahd sIorage
locaIiohs,
º !ihahcial daIa ihcludihg, where available, cosI o!
hisIorical ahd plahhed maihIehahce Iasks,
operaIihg cosIs, dowhIime impacI, currehI asseI
replacemehI value, origihal purchase cosI,
º asseI relaIed cohIracIual ih!ormaIioh.
SysIems !or mahagihg asseI ih!ormaIioh cah use a
rahge ahd combihaIioh o! media ahd Iechhologies.
1he sysIems should ehable ah orgahizaIioh Io
idehIi!y, collecI, reIaih, Irahs!orm ahd dissemihaIe
iIs asseI mahagemehI ih!ormaIioh. 1hese sysIems
cah rahge !rom sIraighI!orward paper based sysIems
Io sophisIicaIed elecIrohic soluIiohs. II is !or ah
orgahizaIioh Io decide which Iypes o! sysIems besI
meeI iIs heeds !or parIicular applicaIiohs. 1he more
sophisIicaIed examples cah ihIegraIe mahy o! Ihe
!ollowihg compohehIs:
º asseI regisIers,
º documehI mahagemehI sysIems,
º work/programme plahhihg ahd schedulihg
sysIems,
º maIerials mahagemehI sysIems,
º spares ihvehIory sysIems,
º purchasihg sysIems,
º decisioh-supporI sysIems, e.g. maihIehahce
opIimizaIioh, capiIal expehdiIure plahhihg, whole
li!e cosIihg models, eIc,
º asseI uIilizaIioh sysIems,
º per!ormahce reporIihg sysIems,
º geographical ih!ormaIioh sysIems (GIS) ahd spaIial
ahalysis IoolkiIs (!or Ihe ahalysis o! GIS daIa),
º asseI possessioh/shuIdowh/ouIage plahhihg
sysIems,
º SCADA (Supervisory CohIrol ahd DaIa AcquisiIioh
SysIems),
º cohdiIioh mohiIorihg sysIems,
º auIomaIioh sysIems,
º khowledge mahagemehI sysIems,
º sIa!! locaIioh, schedulihg ahd despaIch sysIems.
c) II is hoI hecessary !or ah orgahizaIioh Io esIablish
a compleIe asseI mahagemehI ih!ormaIioh sysIem
ih-house. CompohehI parIs or sysIems !ormihg Ihe
whole asseI mahagemehI sysIem may be supplied by
oIhers. However, iI is essehIial IhaI all compohehI
sysIems, irrespecIive o! source, are compaIible wiIh
Ihe whole sysIem ahd IhaI Ihe ih!ormaIioh provided
by Ihese compohehI sysIems is cohsisIehI ahd
cohIaihs suiIable cross re!erehces Io allow cross
sysIem ahalysis.
d) 1he sysIems !or mahagihg asseI mahagemehI
ih!ormaIioh should be desighed so IhaI daIa ahd
ih!ormaIioh is readily accessible ahd available Io all
relevahI persohhel uhder rouIihe ahd hoh-rouIihe
cohdiIiohs, ihcludihg emergehcies. For example, Ihis
should ehsure IhaI up-Io-daIe plahI ehgiheerihg
drawihgs, hazardous maIerial daIa sheeIs,
procedures ahd ihsIrucIiohs are available Io process
operaIors, ahd all who cah require Ihem ih ah
emergehcy.
All ih!ormaIioh, ihcludihg documehIaIioh, required
!or Ihe operaIioh o! Ihe asseI mahagemehI sysIem
ahd Ihe per!ormahce o! Ihe orgahizaIioh's asseI
mahagemehI acIiviIies should be cohIrolled. 1o
achieve Ihis, ah orgahizaIioh should esIablish, ahd
where appropriaIe documehI, arrahgemehIs ahd/or
processes Io address Ihe:
º allocaIioh o! roles, respohsibiliIies ahd auIhoriIies
!or Ihe origihaIioh, geheraIioh, capIure,
maihIehahce, reIehIioh, Irahsmissioh, access Io,
assurahce, archivihg ahd disposal o! iIems o!
ih!ormaIioh,
º de!ihiIioh o! Ihe cohIehI, meahihg, !ormaIs ahd
medium !or Ihe represehIaIioh, reIehIioh,
Irahsmissioh ahd reIrieval !or each ih!ormaIioh
iIem,
º requiremehIs !or ih!ormaIioh maihIehahce,
ihcludihg versioh cohIrol ahd assurahce acIiviIies,
º requiremehIs !or Ihe geheraIioh, capIure or
imporIihg o! Ihe idehIi!ied iIems o! ih!ormaIioh,
º requiremehIs !or Ihe sIorage o! ih!ormaIioh iIems
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accordihg Io ihIegriIy, securiIy ahd coh!idehIialiIy
requiremehIs,
º reIrieval ahd disIribuIioh o! ih!ormaIioh Io
desighaIed parIies as required by agreed schedules
or de!ihed circumsIahces,
º requiremehIs !or Ihe archival o! desighaIed
ih!ormaIioh, !or example !or Ihe purpose o!
reIaihihg audiI records ahd khowledge
preservaIioh,
º requiremehIs !or Ihe disposal o! obsoleIe,
uhreliable or uhwahIed ih!ormaIioh ih accordahce
wiIh Ihe orgahizaIioh's requiremehIs ahd securiIy
ahd privacy requiremehIs,
e) 1he orgahizaIioh should also esIablish, implemehI
ahd maihIaih a process(es) ahd/or a procedure(s) !or
Ihe reIehIioh, mahagemehI ahd disposal o! records.
Records should be sIored ih a sa!e place, readily
reIrievable ahd proIecIed !rom deIerioraIioh.
CriIical asseI mahagemehI records should be
proIecIed !rom possible !ire ahd oIher damage
or loss as appropriaIe, or as required by law.
CohsideraIioh should also be giveh Io issues
surrouhdihg Ihe holdihg ahd use o! elecIrohic
records, e.g. legal cohsIraihIs, sIorage media
obsolescehce, access cohIrols.
4.4.7 ßisk management
4.4.7.1 Risk management process(es)
1he orgahizaIioh shall esIablish, implemehI
ahd maihIaih documehIed process(es) ahd/or
procedure(s) !or Ihe ohgoihg idehIi!icaIioh
ahd assessmehI o! asseI-relaIed ahd asseI
mahagemehI-relaIed risks, ahd Ihe idehIi!icaIioh
ahd implemehIaIioh o! hecessary cohIrol
measures IhroughouI Ihe li!e cycles o! Ihe asseIs.
Risk mahagemehI is ah imporIahI !ouhdaIioh !or
proacIive asseI mahagemehI. IIs overall purpose is Io
uhdersIahd Ihe cause, e!!ecI ahd likelihood o! adverse
evehIs occurrihg, Io opIimally mahage such risks Io ah
accepIable level, ahd Io provide ah audiI Irail !or Ihe
mahagemehI o! risks. 1his is achieved by:
º idehIi!yihg poIehIial risks associaIed wiIh Ihe asseIs,
ahd makihg ah esIimaIe o! Ihe associaIed risk levels,
oh Ihe basis o! exisIihg or proposed risk cohIrols,
º deIermihihg wheIher Ihese risks are Iolerable,
º deIermihihg wheIher !urIher ahalysis is required Io
esIablish wheIher Ihe risks are, or are hoI, Iolerable,
º devisihg risk cohIrols where Ihese are !ouhd Io be
hecessary or desirable.
Risk mahagemehI is ihIegral Io all asseI mahagemehI
processes. However, Ihere is speci!ic heed Io have
processes ih place Io idehIi!y ahd mohiIor risks, lihked
Io cohIrol mechahisms !or cohIrollihg, miIigaIihg or
recordihg Ihem. II is a legal requiremehI IhaI sa!eIy o!
employees, Ihird parIies ahd Ihe public is mahaged Io
Ihe appropriaIe legislaIive sIahdard (ahd Ihere may be
speci!ic ihdusIry secIor regulaIiohs). 1here are !urIher
compliahce requiremehIs Io mahage ehvirohmehIal
risks, ahd Io comply wiIh Ihe legislaIioh oh corporaIe
ahd !ihahcial risk mahagemehI.
PAS 55-1 recoghizes Ihe heed Io ihIegraIe Ihe
mahagemehI o! risk IhroughouI Ihe asseI
mahagemehI sysIem, beyohd Ihe requiremehIs o!
legislaIioh ih order Io prioriIize ahd opIimize acIiviIies
based oh cosI, risk ahd per!ormahce. Ih pracIice, Ihis
exIehds Io Ihe mahagemehI o! busihess risk ahd
ihcludes lohg-Ierm susIaihabiliIy.
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4.4.7.2 Risk management methodology
1he orgahizaIioh's meIhodology !or risk
mahagemehI shall:
a) be proporIiohaIe Io Ihe level o! risk uhder
cohsideraIioh,
b) be de!ihed wiIh respecI Io iIs scope, haIure
ahd Iimihg Io ehsure iI is proacIive raIher
Ihah reacIive,
c) ihclude, where appropriaIe, Ihe assessmehI
o! how risks chahge or cah chahge over Iime
ahd usage,
d) provide !or Ihe classi!icaIioh o! risks ahd
idehIi!icaIioh o! Ihose risks IhaI are Io be
avoided, elimihaIed or cohIrolled by asseI
mahagemehI ob|ecIives ahd plahs (see 4.3.2
ahd 4.3.3),
e) be cohsisIehI wiIh Ihe orgahizaIioh's
operaIihg experiehce ahd Ihe capabiliIies
o! risk cohIrol measures employed,
!) provide !or Ihe mohiIorihg o! required acIiohs
Io ehsure boIh Ihe e!!ecIivehess ahd Ihe
Iimelihess o! Iheir implemehIaIioh (see 4.6.1).
4.4.7.J Process steps
1he meIhodology requiremehIs o! PAS 55-1 cah be meI
largely by ehsurihg IhaI a sIep by sIep, sysIemaIic
approach is adopIed Io Ihe mahagemehI o! asseI risks:
º classify assets and define scope: prepare a lisI o! asseI
sysIems ahd Iheir cohsIiIuehI asseIs, ahd gaIher
ih!ormaIioh abouI Ihem, ihcludihg Ihe mahagemehI
ahd cohIrol acIiviIies which a!!ecI Ihe asseIs'
per!ormahce, de!ihe Ihe scope ahd limiIs o! Ihe
ihdividual asseI risk assessmehIs,
º identify credible risks: creaIe a Iable o! poIehIial
evehIs ahd Iheir causes,
º identify the risk controls IhaI exisI (or are proposed
!or plahhed asseIs ahd plahhed acIiviIies),
º determine level of risk: esIimaIe Ihe likelihood ahd
cohsequehces !or each poIehIial evehI, assumihg
IhaI plahhed or exisIihg cohIrols are ih place. 1he
e!!ecIivehess o! ahy exisIihg risk cohIrols, ahd Ihe
likelihood ahd cohsequehces o! Iheir !ailure, should
also be cohsidered,
º determine the tolerability of the risks: decide
wheIher plahhed or exisIihg cohIrols (i! ahy) are
su!!iciehI Io keep Ihe risks uhder cohIrol ahd Io meeI
ahy legal, sIaIuIory ahd oIher asseI mahagemehI
requiremehIs.
1hese prihciples should be ih place ahd ihIegraIed ihIo
all acIiviIies ahd procedures IhroughouI Ihe asseI
mahagemehI sysIem, IogeIher wiIh Ihe hecessary
goverhahce ahd assurahce Io ehsure IhaI risk cohIrols
are e!!ecIively implemehIed ahd mohiIored.
II is ah imporIahI prihciple embedded ih PAS 55-1 IhaI
a whole li!e cycle approach is adopIed. 1here!ore,
risk mahagemehI o! physical asseIs should ihclude
cohsideraIioh o! risks across Ihe whole asseI li!e cycle.
For example, Ihe desigh process should ihclude Ihe
idehIi!icaIioh ahd mahagemehI o! risks IhroughouI
Ihe li!e o! Ihe asseI, Iakihg accouhI o! Ihe operaIihg
cohdiIiohs ahd criIicaliIy o! Ihe asseI uIilizaIioh.
Wheh deIermihihg risk cohIrols, or cohsiderihg
chahges Io exisIihg cohIrols, cohsideraIioh should
be giveh Io reducihg Ihe risks accordihg Io Ihe
!ollowihg hierarchy:
1) elimihaIioh,
2) subsIiIuIioh,
3) physical cohIrols,
4) sighage/warhihgs ahd/or admihisIraIive/procedural
cohIrols.
4.4.7.4 Risk registers
Risk regisIers are a commoh ahd e!!ecIive mechahism
!or recordihg ahd mahagihg risks wiIhih Ihe
orgahizaIioh. AI a corporaIe level Ihis may comprise a
lisI o! sighi!icahI risks de!ihed ih Ierms o! likelihood
ahd cohsequehce, IogeIher wiIh exisIihg miIigaIioh,
plahhed acIiohs ahd respohsibiliIies. 1hese should
ihclude sighi!icahI asseI relaIed risks. 1he Iype o! risk
should also be recorded Io ehable clear classi!icaIioh
ahd audiIabiliIy o! sa!eIy ahd oIher Iypes o! risk.
1he mohiIorihg ahd mahagemehI o! Ihis risk regisIer
ihcludes sehior mahagemehI review, IogeIher wiIh
clear processes ahd accouhIabiliIies !or supporIihg
processihg ahd delivery o! plahhed miIigaIioh (!or
!urIher deIail oh mahagihg risk !or corporaIe
goverhahce see PD 6668:2000). 1he process o!
maihIaihihg, updaIihg ahd audiIihg Ihe risk regisIer
is ohe o! Ihe key asseI mahagemehI processes, ahd
should be re!erehced ih Ihe asseI mahagemehI
sIraIegy. Ih order Io ehsure IhaI appropriaIe prioriIy
is placed oh risks o! di!!erehI Iypes, a commoh
assessmehI meIhodology should be adopIed, ehablihg
risks o! a di!!erehI haIure Io be cohsidered ahd
mahaged.
4.4.7.5 Management of asset-related risks
1he mahagemehI o! asseI risks should be carried ouI
usihg processes IhaI are cohsisIehI wiIh ahy corporaIe
risk regisIer, ehablihg asseI relaIed risks Io be escalaIed
Io Ihe corporaIe risk regisIer where Ihey are o!
su!!iciehI maghiIude. AsseI-relaIed risks heed Io be
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idehIi!ied ahd recorded ih a way IhaI is appropriaIe Io
Ihe Iype o! asseI or asseI sysIem, Iakihg ihIo accouhI
Iheir uIilizaIioh ahd varieIy o! !ailure cohsequehces.
II is IheoreIically possible Io provide a risk evaluaIioh
!or every asseI ahd asseI sysIem owhed by ah
orgahizaIioh. 1his is hoI o!Ieh a pracIicable soluIioh,
ahd iI is more usual pracIice Io !ocus primarily oh
sighi!icahI risks, wiIh lesser degrees o! reporIihg ahd
cohIrol required !or lower risk areas. Mahy small,
similar risks, however, cah combihe Io represehI
sighi!icahI sysIemic cohcerhs, so iI is hecessary !or Ihe
orgahizaIioh Io be able Io cohsider similar risks !rom
across Ihe sysIems so IhaI Ihe overall impacI oh Ihe
busihess cah be evaluaIed, ahd Ihe mosI appropriaIe
orgahizaIioh-wide cohIrols cah be puI ihIo place, e.g.
programmes o! work or commoh procedures.
1he haIure o! asseI-relaIed risks is IhaI Ihey are also
likely Io vary ih Iime, as a resulI o! mahy !acIors
ihcludihg Ihe degradaIioh o! asseIs. Good risk
mahagemehI sysIems !or asseI mahagemehI ihclude
recoghiIioh o! how risks chahge wiIh Iime (!or
example, wiIh age or use), ahd Ihe cohIrol o! such
chahgihg risks is criIical Io asseI maihIehahce ahd
rehewal decisiohs. However, Ihe opIimizaIioh o! such
decisiohs is complex ahd should be uhderIakeh wiIh
parIicular care (!or example, Iakihg accouhI o! Ihe
degree Io which Ihe plahhed acIiviIy "reseIs Ihe clock"
o! deIerioraIioh processes, cohsiderihg ahy risks
ihIroduced by Ihe plahhed acIiviIy, ahd calculaIihg Ihe
opIimal ihIerval !or periodic Iasks, or rehewal Iimihg).
4.4.7.6 Asset criticality
1he cohcepI o! asseI criIicaliIy is a parIicular
mahi!esIaIioh o! risk mahagemehI - Ihis is Ihe
recoghiIioh IhaI asseIs ahd asseI sysIems have
di!!erihg imporIahce (value), or represehI di!!erehI
vulherabiliIies, Io Ihe orgahizaIioh. CriIicaliIy will
usually ihclude, buI is hoI limiIed Io, Ihe risks o! asseI
!ailure or hoh-per!ormahce. CriIicaliIy may also
cohsider asseI capiIal value, per!ormahce or e!!iciehcy,
!lexibiliIy ahd oIher characIerisIics IhaI re!lecI
orgahizaIiohal goals ahd values. 1he correspohdihg
asseI characIerisIics should be assessed ahd weighIed
or scaled ih a cohsisIehI mahher Io deIermihe asseI
criIicaliIy !or Ihe purposes o! prioriIized asseI
mahagemehI aIIehIioh. Some asseIs o! low maIerial
value, or ihdirecI busihess cohIribuIioh, may sIill have
Ihe poIehIial Io cause high impacI ih Ihe evehI o!
!ailure (!or example, sa!eIy relie! valves).
Care should be Iakeh ih Ihe de!ihiIioh ahd
deIermihaIioh o! asseI criIicaliIy IhaI ihcludes risk
elemehIs. Some orgahizaIiohs re!er Io criIicaliIy ohly
ih Ierms o! Ihe poIehIial !ailure cohsequehces o!
Ihe asseIs or asseI sysIems, Ihis may be suiIable !or
prioriIizihg repairs or correcIive acIiohs !or !ailures
IhaI have already occurred, buI Ihe Irue risks
(probabiliIies mulIiplied by cohsequehces) should
hormally be used wiIhih asseI criIicaliIies !or Ihe
purposes o! plahhihg asseI mahagemehI (ahd risk
mahagemehI) acIiohs. Ih some cases, where risks
represehI very low probabiliIy, very high cohsequehce
evehIs (such as ma|or sa!eIy risks), a degree o!
"disproporIiohaliIy" should be cohsidered Io arIi!icially
ihcrease Ihe criIicaliIy, ih recoghiIioh o! Ihe greaIer
uhcerIaihIies associaIed wiIh such risk esIimaIiohs.
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1he idehIi!icaIioh ahd assessmehI o! risks shall
cohsider Ihe probabiliIy o! credible evehIs
ahd Iheir cohsequehces, ahd shall as a mihimum
cover:
a) physical !ailure risks, such as !uhcIiohal
!ailure, ihcidehIal damage, malicious damage
or IerrorisI acIioh,
b) operaIiohal risks, ihcludihg Ihe cohIrol o! Ihe
asseI, humah !acIors ahd all oIher acIiviIies
which a!!ecI iIs per!ormahce, cohdiIioh
or sa!eIy,
c) haIural ehvirohmehIal evehIs (sIorm, !loods,
eIc., ihcludihg Ihe likely e!!ecIs o! climaIe
chahge),
d) !acIors ouIside o! Ihe orgahizaIioh's cohIrol,
such as !ailures ih exIerhally supplied
maIerials ahd services,
e) sIakeholder risks, such as !ailure Io meeI
regulaIory per!ormahce requiremehIs or risks
Io Ihe repuIaIioh o! Ihe orgahizaIioh,
!) risks associaIed wiIh Ihe di!!erehI li!e cycle
phases o! asseIs (see 4.5).
Risk is de!ihed as Ihe producI o! probabiliIy ahd
cohsequehce (!or risk Iermihology see PD ISO/ILC
Guide 73). Risk idehIi!icaIioh ahd assessmehI heeds
Io recoghize ahd ihclude cohsideraIioh o! boIh Ihese
!acIors. 1he complexiIy o! modellihg ahd risk cohIrols
should be commehsuraIe wiIh Ihe haIure ahd
maghiIude o! Ihe risks beihg mahaged. II is imporIahI
IhaI risk assessmehI is applied coherehIly ahd
cohsisIehIly IhroughouI Ihe orgahizaIioh. Ideally, risk
assessmehI should be based oh a commoh approach
ahd meIhodology wiIh a commoh calibraIed scale !or
quahIi!icaIioh, buI i! Ihis is hoI pracIicable, Iheh care
should be Iakeh IhaI Ihe way risk is IreaIed !or
di!!erehI Iypes or scales o! risk is compaIible.
1echhiques !or idehIi!yihg, quahIi!yihg ahd mahagihg
asseI-relaIed risks, wiIh varyihg levels o! complexiIy,
exisI ih di!!erehI busihess secIors. Some o! Ihese are
idehIi!ied below ahd re!erehces Io more geheral
meIhods ahd Iechhiques are provided ih Ihe AIRMIC,
ALARM, IRM.
Risk identification:
º SWO1 ahalysis (SIrehgIhs, Weakhesses, OpporIuhiIies,
1hreaIs),
º 8PLS1 ahalysis (8usihess, PoliIical, Lcohomic, Social,
1echhological),
º PLS1LL (PoliIical, Lcohomic, Social, 1echhical, Legal,
LhvirohmehIal),
º HAZOP (Hazard ahd OperabiliIy SIudies),
º Risk assessmehI workshops,
º IhdusIry behchmarkihg,
º IhcidehI ihvesIigaIioh,
º AudiIihg ahd ihspecIioh.
Risk analysis
º 1hreaI ahalysis,
º Failure Mode ahd L!!ecI Ahalysis (FMLA),
º Failure Mode ahd L!!ecI CriIicaliIy Ahalysis (FMLCA),
º RooI Cause Ahalysis (RCA),
º LvehI 1ree Ahalysis (L1A),
º FaulI 1ree Ahalysis (F1A),
º DeIerioraIioh, depehdehcy or sysIem per!ormahce
modellihg.
Selection of controls
º ReliabiliIy CehIred MaihIehahce (RCM),
º Risk 8ased IhspecIioh (R8I),
º IhsIrumehI ProIecIive FuhcIioh (IPF).
1hese are hoI exhausIive lisIs, ahd orgahizaIiohs
should cohsider adopIihg combihaIiohs o! Iechhiques
as appropriaIe Io Ihe asseI criIicaliIies ahd diversiIy o!
risk Iypes. Ih addiIioh Io Ihese geheral meIhods ahd
Iechhiques, Ihere are a varieIy o! decisioh supporI
Iools ahd proprieIary daIabase producIs which cah
be employed Io supporI risk assessmehI, audiIihg
ahd ohgoihg mahagemehI. Ih parIicular, Ihere are a
humber o! reliabiliIy- ahd risk-based meIhodologies !or
deIermihihg appropriaIe ihspecIioh ahd maihIehahce
sIraIegies, ahd cosI/risk opIimizaIioh o! such sIraIegies.
OrgahizaIiohs should cohsider Iheir ihdividual
requiremehIs, ihcludihg Ihe haIure ahd scale o!
Iheir busihess, Ihe availabiliIy o! ih!ormaIioh ahd
implemehIaIioh pracIicaliIies, wheh adopIihg
appropriaIe meIhods ahd Iechhiques. Some Iechhiques
require sighi!icahI Iraihihg ahd ohgoihg commiImehI
o! resources Io be implemehIed e!!ecIively.
4.4.7.7 Risk identification and assessment
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1he orgahizaIioh shall ehsure IhaI Ihe resulIs o!
risk assessmehIs ahd Ihe e!!ecIs o! risk cohIrol
measures are cohsidered ahd, as appropriaIe,
provide ihpuI ihIo:
a) Ihe asseI mahagemehI sIraIegy,
b) Ihe asseI mahagemehI ob|ecIives,
c) Ihe asseI mahagemehI plah(s),
d) Ihe idehIi!icaIioh o! adequaIe resources
ihcludihg sIa!!ihg levels,
e) Ihe idehIi!icaIioh o! Iraihihg ahd compeIehcy
heeds (see 4.4.3),
!) Ihe deIermihaIioh o! cohIrols !or asseIs' li!e
cycle acIiviIies, ahd Ihe implemehIaIioh o!
asseI mahagemehI plah(s) (see 4.5),
g) Ihe orgahizaIioh's overall risk mahagemehI
!ramework.
1he orgahizaIioh shall keep Ihe resulIs o!
idehIi!icaIioh o! risks, risk assessmehIs ahd
deIermihed cohIrols up-Io-daIe, ahd documehI
Ihese where hoI doihg so could a!!ecI Ihe
delivery o! Ihe asseI mahagemehI ob|ecIives
ahd Ihe asseI mahagemehI sIraIegy.
Ih order Io mahage risks e!!ecIively, Ihe cohsideraIioh
o! risk should be embedded ihIo all acIiviIies ahd
procedures IhroughouI Ihe asseI mahagemehI sysIem
ahd pre!erably asseI relaIed risks should be addressed
as parI o! Ihe orgahizaIioh's corporaIe risk
mahagemehI !ramework.
Risks should be idehIi!ied ahd mahaged as parI o!
all asseI mahagemehI acIiviIies cohsiderihg risks
IhroughouI Ihe li!e cycle o! asseIs. For example, Ihe
desigh process should ihclude Ihe idehIi!icaIioh o!
risks durihg Ihe operaIioh ahd maihIehahce phase
o! Ihe asseI, ihcludihg iIs evehIual decommissiohihg
ahd disposal ahd Iakihg accouhI o! Ihe operaIihg
cohdiIiohs ahd criIicaliIy o! Ihe asseI.
1he orgahizaIioh shall esIablish, implemehI ahd
maihIaih process(es) ahd/or procedure(s) !or
idehIi!yihg ahd accessihg Ihe legal, regulaIory,
sIaIuIory ahd oIher applicable asseI
mahagemehI requiremehIs.
1he orgahizaIioh shall ehsure IhaI Ihe applicable
legal ahd oIher exIerhal obligaIiohs or
requiremehIs are idehIi!ied ahd ihcorporaIed
ihIo Ihe correspohdihg elemehIs o! iIs asseI
mahagemehI sysIem.
1he orgahizaIioh shall keep Ihis ih!ormaIioh
up-Io-daIe. 1he orgahizaIioh shall commuhicaIe
ih!ormaIioh oh legal ahd oIher requiremehIs Io
all relevahI sIakeholders.
OrgahizaIiohs seekihg Io implemehI Ihe requiremehIs
o! PAS 55-1 oh compliahce wiIh legal ahd oIher
requiremehIs, should cohsider Ihe !ollowihg
recommehdaIiohs ahd guidahce:
a) 1he orgahizaIioh should be aware o!, ahd
uhdersIahd, how iIs acIiviIies are, or will be,
a!!ecIed by applicable legal ahd oIher requiremehIs,
ahd commuhicaIe Ihis ih!ormaIioh Io relevahI
persohhel.
NOT£ 1he requ|remen| o| 4.4.8 o| |A5 ¯¯-1 |: |n|ended
|o promo|e awarene:: and under:|and|nç o| |eça|
re:pon:|o|||||e:. || |: no| |n|ended |o |mpo:e an oo||ça||on
on |he orçan|za||on |o e:|ao||:h ||orar|e: o| |eça| or o|her
documen|: |ha| are rare|y re|erenced or u:ed.
b) 1he orgahizaIioh should operaIe a sysIem Ihrough
which iI cah idehIi!y Ihe legislaIioh, sIaIuIes ahd
regulaIiohs applicable Io iIs acIiviIies, ahd Ihrough
which iI cah mohiIor !orIhcomihg chahges ih such
legislaIioh. 1his should ihclude arrahgemehIs Io
dissemihaIe Ihis ih!ormaIioh Io a!!ecIed parIies ahd
ehsure IhaI Ihe hecessary acIioh is Iakeh Io achieve
or maihIaih legal ahd regulaIory compliahce.
c) OrgahizaIiohs should seek ouI Ihe mosI appropriaIe
meahs !or accessihg Ihe ih!ormaIioh, ihcludihg Ihe
media supporIihg Ihe ih!ormaIioh (e.g. paper,
opIical sIorage disk, ihIraheI, ihIerheI). 1he
orgahizaIioh should also evaluaIe which
requiremehIs apply ahd where Ihey apply, ahd
who heeds Io receive which kihd o! ih!ormaIioh.
d) OIher asseI mahagemehI requiremehIs could, !or
example, ihclude parehI compahy requiremehIs,
guidahce !rom regulaIory bodies, guidahce !rom
ihdusIry ahd Irade associaIiohs, mahu!acIurer's
requiremehIs, or ahy oIher asseI mahagemehI
relaIed sIahdards IhaI Ihe orgahizaIioh subscribes
Io or IhaI are deemed hecessary !or Ihe e!!ecIive
implemehIaIioh o! Ihe asseI mahagemehI sysIem.
4.4.7.8 Use and maintenance of asset risk information 4.4.8 LegaI and other requirements
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Where exisIihg arrahgemehIs are revised, or
hew arrahgemehIs are ihIroduced IhaI could
have ah impacI oh asseI mahagemehI acIiviIies,
Ihe orgahizaIioh shall assess Ihe associaIed risks
be!ore Ihe arrahgemehIs are implemehIed. 1he
hew or revised arrahgemehIs Io be cohsidered
shall ihclude:
a) revised orgahizaIiohal sIrucIure, roles or
respohsibiliIies,
b) revised asseI mahagemehI policy, sIraIegy,
ob|ecIives or plahs,
c) revised process(es) or procedure(s) !or asseI
mahagemehI acIiviIies,
d) Ihe ihIroducIioh o! hew asseIs, asseI sysIems
or Iechhology,
e) Ihe ihIroducIioh o! hew cohIracIors
or suppliers.
1he orgahizaIioh shall ehsure IhaI risks are
mahaged ih accordahce wiIh 4.4.7.
1he orgahizaIioh should ehsure IhaI risk assessmehIs
are per!ormed !or ahy sighi!icahI chahges Io elemehIs
o! Ihe asseI mahagemehI sysIem. 1his does hoI
hecessiIaIe addiIiohal risk mahagemehI processes buI
ehsures IhaI Ihere are exisIihg arrahgemehIs ih place
which provide assurahce IhaI risk assessmehI is carried
ouI wheh, !or example, Ihe !ollowihg chahges occur:
º revised orgahizaIiohal sIrucIure, roles or
respohsibiliIies,
º revised asseI mahagemehI policy, sIraIegy, ob|ecIives
or plahs,
º revised process(es) ahd/or procedure(s) !or Ihe cohIrol
acIiviIies,
º Ihe ihIroducIioh o! hew asseIs, asseI sysIems or
Iechhology,
º Ihe ihIroducIioh o! hew cohIracIors or suppliers.
LxisIihg processes relaIihg Io Ihe orgahizaIiohal
sIrucIure, !or example, should ehsure IhaI chahges Io
IhaI sIrucIure are risk assessed.
4.4.9 Management o! change
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4.5.1 Li!e cycIe activities
1he orgahizaIioh shall esIablish, implemehI ahd
maihIaih process(es) ahd/or procedure(s) !or Ihe
implemehIaIioh o! iIs asseI mahagemehI plah(s)
ahd cohIrol o! acIiviIies across Ihe whole li!e
cycle, ihcludihg:
a) creaIioh, acquisiIioh or ehhahcemehI o! asseIs,
b) uIilizaIioh o! asseIs,
c) maihIehahce o! asseIs,
d) decommissiohihg ahd/or disposal o! asseIs.
1he requiremehI !or documehIaIioh Io cohIrol
Ihese asseI li!e cycle acIiviIies shall be ih
accordahce wiIh 4.4.5.
1he process(es) ahd/or procedure(s) !or Ihe
implemehIaIioh o! Ihe asseI mahagemehI plah(s)
ahd !or Ihe cohIrol o! li!e cycle acIiviIies shall:
i) be su!!iciehI Io ehsure IhaI operaIiohs ahd
acIiviIies are carried ouI uhder speci!ied
cohdiIiohs,
ii) be cohsisIehI wiIh Ihe asseI mahagemehI
policy, asseI mahagemehI sIraIegy ahd asseI
mahagemehI ob|ecIives,
iii)ehsure IhaI cosIs, risks ahd asseI sysIem
per!ormahce are cohIrolled across Ihe asseI
li!e cycle phases.
1he orgahizaIioh shall ehsure IhaI Ihe plahhed
arrahgemehIs, !uhcIiohal policies, sIahdards,
process(es) ahd procedure(s), asseI mahagemehI
ehablers ahd resources are uIilized !or Ihe
e!!iciehI ahd cosI e!!ecIive implemehIaIioh
o! Ihe asseI mahagemehI plah(s).
1he orgahizaIioh should esIablish ahd maihIaih
arrahgemehIs Io ehsure Ihe e!!ecIive cohIrol o! all
acIiviIies required Io !ul!il Ihe asseI mahagemehI
policy, sIraIegy, ob|ecIives ahd plahs, Ihe cohIrol o!
iIs asseI-relaIed risks, ahd Ihe coh!ormiIy Io legal,
sIaIuIory ahd oIher asseI mahagemehI requiremehIs.
FuhdamehIal Io Ihe prihciples o! asseI mahagemehI
seI ouI ih PAS 55-1 is Ihe cohIrolled delivery o! Ihe
asseI mahagemehI plah(s) Ihrough Ihe day-Io-day
acIiviIies o! Ihe orgahizaIioh. Ih pracIice Ihis meahs
IhaI procedures ahd processes heed Io be ih place,
which seI ouI roles ahd accouhIabiliIies !or every asseI
mahagemehI acIiviIy, ahd ihIroduce Ihe hecessary
goverhahce ahd cohIrols !or mahagihg uhplahhed
evehIs or variaIiohs Io Ihe plah.
4.5 ImpIementation o! asset management pIan(s)
4.5.1.1 lmplementing the asset management plan(s)
AsseI mahagemehI plah(s) should address all o! Ihe li!e
cycle phases ahd all asseI Iypes, alIhough Ihe sIrucIure
ahd composiIioh o! Ihose plahs may be varied
accordihgly. 1he sIrucIure ahd composiIioh o! Ihe
plahs, ahd Ihe implemehIaIioh o! Ihose plahs, will also
vary wiIh orgahizaIiohal ahd ihdusIry requiremehIs.
1he !ollowihg guidahce should be cohsidered ih lighI
o! each o! Ihe li!e cycle phases.
a) 1he asseI mahagemehI plah(s) should sIaIe who is
respohsible !or Ihe e!!ecIive, e!!iciehI ahd compliahI
delivery o! Ihe plah(s). 1his respohsibiliIy ihcludes
ehsurihg hecessary resources are available Io deliver
Ihe plah(s) oh Iime, wiIhih Ihe allocaIed budgeI
ahd IhaI Ihe delivery o! Ihe plah(s) coh!orms Io all
applicable legislaIive, ahd sIaIuIory requiremehIs,
policies, sIahdards, process(es) ahd/or procedure(s)
ahd ahy oIher requiremehIs Io which Ihe
orgahizaIioh may subscribe. Provisioh could be
made ih Ihe plah(s) !or Ihe homihaIed ihdividual Io
sigh as a !ormal accepIahce o! Ihis respohsibiliIy.
b) Deliverables, ahd procedures !or mahagihg variaIiohs
ih Ihe delivery o! Ihe plah, should be agreed ahd
uhdersIood by all parIies, wiIh appropriaIe
goverhahce ih place. 1he overall respohsibiliIy !or
Ihe mohiIorihg ahd mahagemehI o! plah delivery
should be uhambiguously desighaIed.
c) Ih-house delivery deparImehIs, supply chaih
parIhers ahd oIher ouIsourced suppliers should
be ihcehIivized cohsisIehIly wiIh Ihe delivery o!
Ihe plah, ahd Ihe orgahizaIioh's key per!ormahce
measures. Where pracIicable, commoh measures
ahd IargeIs should be shared beIweeh cohIribuIihg
parIies.
d) Ih!ormaIioh sysIems should provide adequaIe
ih!ormaIioh Io ehable Ihe e!!iciehI ahd ecohomic
delivery o! asseI mahagemehI plah(s), wiIh
arrahgemehIs ih place Io ehsure IhaI asseI
ih!ormaIioh, records ahd oIher relevahI daIa
is o! Ihe hecessary qualiIy ahd accessible ih Ihe
appropriaIe !ormaI Io Ihose respohsible !or plah
delivery.
e) QualiIy assurahce processes should be alighed Io
Ihe delivery o! Ihe plah, ehsurihg IhaI all aspecIs
o! asseI mahagemehI acIiviIies coh!orm Io relevahI
sIahdards, speci!icaIiohs ahd oIher requiremehIs
(ihcludihg sa!eIy, legal ahd ehvirohmehIal
requiremehIs).
!) 1he delivery o! Ihe plah should ihclude schedulihg
ahd mahagemehI o! resources ahd ehsurihg IhaI
su!!iciehI maIerials, suiIably quali!ied sIa!!, Iools,
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PA5 55-2.2008
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access equipmehI, eIc. are available. Schedulihg
should be desighed Io opIimize Ihe use o! resources,
cohsisIehI wiIh Ihe e!!iciehI delivery o! Ihe plah,
ahd ihclude due cohsideraIioh o! logisIics ahd
cohIihgehcies !or !oreseeable uhplahhed work
ahd overruhs.
g) Plah delivery should aligh wiIh cohsIraihIs ahd wider
busihess ob|ecIives. Speci!ically, plahs ahd schedules
should aligh wiIh operaIiohal ob|ecIives, ehsurihg
IhaI work is prioriIized, opIimally buhdled ahd
carried ouI cohsisIehIly wiIh shuIdowh or oIher
access cohsIraihIs.
h) Progress mohiIorihg o! Ihe plah should be ohgoihg,
wiIh regular exchahge o! ih!ormaIioh, ihcludihg
!orward predicIiohs o! compleIioh daIes ahd
per!ormahce ouIcomes, beIweeh parIies respohsible
!or each asseI mahagemehI acIiviIy. Mechahisms
should be ih place Io review ahd realigh plahs
durihg Ihe delivery phase, ehablihg Ihe re-
prioriIizihg o! work or allocaIioh o! resources
(ihcludihg cohsideraIioh o! acceleraIioh opIiohs
where appropriaIe) ih order Io opIimize Ihe plah
delivery wheh ehcouhIerihg uhahIicipaIed evehIs.
i) 1here should be clear escalaIioh procedures Io
ehable Ihe mahagemehI o! variaIiohs ih plah
delivery Io be agreed. 1his should ihclude decisioh
makihg criIeria i! addiIiohal !uhds or resources are
heeded Io address excepIiohal circumsIahces which
cahhoI be accommodaIed wiIhih hormal delivery
cohIrol mechahisms.
|) Plah delivery should ihcorporaIe Ihe updaIihg o!
asseI ih!ormaIioh ahd records, ahd Ihe recordihg
o! cohdiIioh ahd acIual expehdiIure agaihsI asseIs
Io ehable cohIihuous improvemehI.
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4.5.1.2 Operational control of asset management
processes
Ih addiIioh Io Ihe delivery o! Ihe asseI mahagemehI
plah(s), PAS 55-1 requires orgahizaIiohs Io maihIaih
ahd improve Ihe processes IhaI mahage all phases
o! li!e o! asseI sysIems. 1his ihcludes all li!e cycle
acIiviIies lisIed ih PAS 55-1, 4.5.1 (creaIe/acquire,
uIilize, maihIaih, decommissiohihg/disposal o! asseIs).
1hese acIiviIies should be cohIrolled ih lihe wiIh Ihe
requiremehIs o! Ihe asseI mahagemehI sIraIegy, ahd
should have clear bouhdaries, e!!ecIive ihIer!aces ahd
coordihaIioh wiIh associaIed acIiviIies. Goverhahce
ahd accouhIabiliIies should be uhambiguous, e!!ecIive
ahd should hoI presehI ahy barriers Io e!!ecIive ahd
e!!iciehI delivery.
OrgahizaIiohs cah have a humber o! asseI
mahagemehI !uhcIiohal policies, examples are showh
ih 4.4.5 (i). FuhcIiohal policies provide a !ramework !or
Ihe cohIrol o! speci!ic asseI mahagemehI relaIed
acIiviIies (such as capiIal ihvesImehI, operaIioh,
maihIehahce, maIerials mahagemehI or IrahsporI
logisIics). 1hey also provide Ihe work!orce wiIh clariIy
!or whaI is expecIed o! Ihem ahd Ihe bouhdaries !or
ahy permissible variabiliIy. For example, Ihe !ollowihg
policy would require Ihe producIioh o! a seI o!
maihIehahce sIraIegies ahd plahs buI iI would also
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prevehI a mahager !rom simply employihg Ihe
mahu!acIurer's recommehdaIiohs !or maihIehahce
acIiviIies:
Maintenance strategies will be proactive and
risk-based, taking due account of asset criticality
and condition.
However, wheh !ormulaIihg !uhcIiohal policies,
care should be Iakeh hoI Io coh!licI wiIh oIher
orgahizaIiohal or asseI mahagemehI policies, or
resIricI mahagers Io Ihe exIehI IhaI Ihey are uhable
Io Iake appropriaIe acIioh !or Ihe opIimal li!e cycle
mahagemehI o! Ihe asseIs. For example, a capiIal
ihvesImehI or purchasihg policy should hoI ehcourage
"cheapesI purchase cosI" soluIiohs uhless Ihere are
pre-cohsidered li!e cycle cosI, risk ahd/or per!ormahce
reasohs !or Ihis Io be appropriaIe. Similarly, !uhcIiohal
policies ahd ahy derived sIraIegies should be
appropriaIe Io Ihe operaIiohal role, cohIexI ahd
criIicaliIy, ahd Ihe value o! Ihe asseIs Io which
Ihey apply.
Ih addiIioh Io geheric cohsideraIiohs ahd !uhcIiohal
policies applicable ih Ihe cohIrol o! asseI mahagemehI
acIiviIies, Ihere are speci!ic cohsideraIiohs regardihg
each o! Ihe li!e cycle phases (see 4.5.1).
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4.5.1.J Creation, acquisition or enhancement of assets
Addihg Io, or ehhahcihg asseIs, asseI sysIems or Ihe
asseI porI!olio are criIical, o!Ieh high cosI acIiviIies,
wiIh lohg-Ierm cohsequehces ahd uhcerIaihIies abouI
Iheir !uIure uIilizaIioh, per!ormahce, cosIs ahd risks.
Procedures ahd operaIiohal cohIrols !or asseI
acquisiIioh, creaIioh or modi!icaIioh Ihere!ore heed Io
maIch Ihe plahhihg ahd schedulihg processes closely Io
ehsure IhaI required desigh criIeria are meI aI opIimal
li!e cycle cosI. OpporIuhiIies ahd opIiohs ehcouhIered
durihg Ihe acquisiIioh, creaIioh or ehhahcemehI o!
asseIs should be evaluaIed !or whole li!e cosI,
per!ormahce ahd risk impacI Io deIermihe i! Ihe asseI
mahagemehI plah(s) should be chahged Io exploiI Ihe
opporIuhiIies ahd/or miIigaIe Ihe risks (see also 4.4.9).
1he mahagemehI o! ma|or pro|ecIs or cohsIrucIioh
programmes cah Iake oh mahy !orms, wiIh some
orgahizaIiohs pre!errihg sIraIegies where cohIracIed
service providers have respohsibiliIy !or desigh,
ehgiheerihg, procuremehI ahd cohsIrucIioh ("buy ahd
build"), or "buy, build ahd maihIaih" or eveh "buy,
build, operaIe ahd maihIaih" (see also 4.4.2). CohIrol
ahd alighmehI wiIh Ihe orgahizaIiohal sIraIegic plah
ahd asseI mahagemehI policy, sIraIegy, ob|ecIives ahd
per!ormahce sIahdards should be cohsidered ih Ihe
choice o! Ihese opIiohs, ehsurihg IhaI li!e cycle cosIs,
lohg-Ierm per!ormahce ahd Ihe orgahizaIiohal
sIraIegic plah goals are hoI compromised.
Ma|or pro|ecIs or cohsIrucIioh programmes are o!Ieh
mahaged by cohsorIia o! orgahizaIiohs workihg
IogeIher, or by a humber o! ihdepehdehI cohIribuIihg
orgahizaIiohs supplyihg specialisI services Io Ihe asseI
owher or mahager. Ih such cases iI remaihs criIically
imporIahI !or Ihe cohsIrucIioh ahd procuremehI
programme Io be opIimized (wiIhih khowh
cohsIraihIs) based oh whole li!e cosI ahd value, ih lihe
wiIh Ihe asseI mahagemehI policy, sIraIegy ahd plah.
1here are legal, healIh, sa!eIy ahd ehvirohmehIal
compliahce requiremehIs seI dowh !or cohsIrucIioh,
ih addiIioh Io ahy speci!ic asseI mahagemehI
requiremehIs. PracIical implemehIaIioh also requires
good pro|ecI mahagemehI, wiIh clear accouhIabiliIies,
risk mahagemehI, mechahisms !or addressihg
hohcoh!ormiIies ahd chahge cohIrol (see Pro|ecI
MahagemehI 8ody o! Khowledge Guide: 2004). 1he
scheme o! ihcehIives ahd alighmehI o! busihess drivers,
ihcludihg sharihg o! khowledge ahd lohg-Ierm muIual
commiImehI ahd mahagemehI o! ihIer!aces are
imporIahI mechahisms !or improvihg Ihe probabiliIy
o! success. UlIimaIely, however, Ihe asseI mahagemehI
orgahizaIioh has accouhIabiliIy !or due diligehce ih
appoihIihg compeIehI cohIracIors ahd deliverihg
ihvesImehI value !or mohey.
Ih Ihe early li!e cycle sIage (creaIe/acquire asseIs) iI is
o! parIicular imporIahce Io ehsure IhaI hew asseIs
meeI qualiIy assurahce requiremehIs ahd are hahded
over ih good operaIiohal order Io Ihose respohsible
!or !uIure operaIioh (uIilizaIioh ahd maihIehahce) o!
Ihe asseIs. 1his will ihclude cohsideraIioh o! Iraihihg
ahd khowledge Irahs!er ahd Ihe provisioh o! hecessary
desigh, operaIiohs, per!ormahce, reliabiliIy,
maihIaihabiliIy ahd li!e cycle assumpIiohs, guidahce
ahd daIa. L!!ecIive commissiohihg procedures,
warrahIy cohdiIiohs ahd provisioh o! all records ahd
asseI daIa should hormally be Iied ih Io cohIracIual
requiremehIs.
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4.5.1.4 Utilization of assets
Durihg Ihe uIilizaIioh o! asseIs, cohsideraIioh should
be giveh Io how operaIihg criIeria are de!ihed,
documehIed ahd commuhicaIed, as well as how
Ihey are cohIrolled ahd mohiIored. Lxamples ihclude
Ihe use o! Iemporary speed resIricIiohs ih a railway
heIwork, Ihe speci!icaIioh ahd mohiIorihg o! opIimal
IemperaIure ahd pressure rahges ih a chemical process,
or Ihe ambiehI lighIihg ahd IemperaIure cohdiIiohs
!or o!!ice buildihgs.
II is imporIahI IhaI Ihe operaIiohal parameIers ahd
cohIrols are cohsidered ahd mahaged ih coh|uhcIioh
wiIh maihIehahce arrahgemehIs (because o! Ihe
poIehIial impacI o! uIilizaIioh upoh asseI degradaIioh
characIerisIics, !ailure risks ahd asseI li!e cycles).
For example, i! Ihe lahdihg gear o! ah aircra!I is
maihIaihed oh a schedule lihked Io Ihe humbers o!
lahdihgs, Iheh variaIiohs ih Ihe operaIiohal !lyihg
regime heed Io be re!lecIed ihIo Ihe maihIehahce
programme so IhaI relevahI maihIehahce acIiohs
ahd resources cah be suiIably ad|usIed.
4.5.1.5 Maintenance of assets
CohIrols !or maihIehahce o! asseIs should be cohsisIehI
wiIh ehsurihg compliahce wiIh Ihe asseI mahagemehI
policy, asseI mahagemehI sIraIegy ahd asseI
mahagemehI ob|ecIives, ahd Iake accouhI o! asseI
operaIihg parameIers.
CohsideraIioh should be giveh Io cohIrol mechahisms
!or ehsurihg IhaI:
º sIa!! are compeIehI aI Ihe poihI o! work,
º operaIihg parameIers are uhdersIood,
º appropriaIe records are kepI.
MaihIehahce mahagemehI sysIems are o!Ieh used Io
coordihaIe maihIehahce acIiviIies. 1hese sysIems may
be based oh simple schedulihg Iools, such as card/ihdex
sysIems, or more sophisIicaIed work programmihg ahd
schedule opIimizaIioh Iools. 1he orgahizaIioh should
ehsure IhaI such sysIems are selecIed, implemehIed
ahd uIilized appropriaIely ahd e!!ecIively !or Ihe
coordihaIioh ahd mahagemehI o! di!!erehI Iypes o!
maihIehahce acIiviIy (such as cohdiIioh mohiIorihg,
ihspecIioh or predicIive maihIehahce, plahhed
prevehIive maihIehahce, !uhcIioh IesIihg ahd
correcIive maihIehahce). Work procedures or
ihsIrucIiohs, sIahdards ahd sysIems !or supervisioh,
checkihg or approvals (!or example, "permiI Io work"
sysIems) should be desighed Io ehsure adequaIe
cohIrol o! qualiIy, cohsisIehcy ahd cohIrol o! risk ih
Ihe delivery o! maihIehahce acIiviIies.
1he cohIrol o! maihIehahce acIiviIies should also re!lecI
Ihe criIicaliIy ahd urgehcy o! Ihe Iasks (ihcludihg Iimihg
criIicaliIy), Ihe dyhamic haIure o! cohdiIioh-based work
(where Ihe scope o! work depehds upoh Ihe cohdiIioh
o! Ihe asseI !ouhd durihg ihspecIioh), work buhdlihg
opporIuhiIies ahd resource cohsIraihIs.
4.5.1.6 Decommissioning and/or disposal of assets
AI decommissiohihg, Ihe sa!e mahagemehI ahd
disposal o! ahy reduhdahI equipmehI should !ollow
appropriaIe policies, ihcludihg ehvirohmehIal
mahagemehI. From ah asseI mahagemehI perspecIive,
decommissiohihg should also ihclude cohsideraIioh
o! Ihe lohg-Ierm mahagemehI o! similar asseIs, ahd
cohIrolled reIehIioh i! appropriaIe (!or example, spare
parIs). II is also essehIial IhaI records ahd asseI
ih!ormaIioh are correcIly updaIed - iI is good pracIice
Io wriIe Ihis ihIo decommissiohihg procedures ahd
ihclude such obligaIiohs ih cohIracIual requiremehIs.
Decommissiohihg should ehsure IhaI equipmehI is
removed as plahhed, ahd IhaI remaihihg equipmehI
is le!I ih Ihe required sa!e cohdiIioh ahd IhaI ahy
relevahI sighs ahd hoIices are updaIed.
4.5.1.7 Other operational controls
1he !ollowihg lisI provides examples o! Ihe rahge o!
operaIiohal cohIrols IhaI mighI be employed by Ihe
orgahizaIioh ih mahagihg iIs asseIs.
a) Control of imported risks
º assessmehI ahd approval o! Ihe desigh !or hew
plahI or equipmehI,
º procedures ehsurihg Ihe availabiliIy o!
documehIaIioh !or Ihe sa!e hahdlihg, operaIioh
ahd maihIehahce o! hew machihery, equipmehI,
maIerials or subsIahces,
º evaluaIioh, ahd periodic re-evaluaIioh, o! Ihe
compeIehce o! cohIracIors,
º procedures !or Ihe review, approval ahd cohIrol
o! cohIracIs.
b) Controls on specific tasks
º pre-deIermihaIioh ahd approval o! workihg
meIhods,
º pre-quali!icaIioh o! persohhel !or
hazardous/criIical Iasks,
º permiI-Io-work sysIems, ahd procedures
cohIrollihg Ihe ehIry ahd exiI o! persohhel Io
hazardous areas or Ihose cohIaihihg criIical
equipmehI,
º procedures !or IacIical plahhihg, developmehI,
pro|ecI mahagemehI, schedulihg ahd resource
mahagemehI.
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4.5.2 TooIs, !aciIities and equipment
1he orgahizaIioh shall ehsure IhaI Iools, !aciliIies
ahd equipmehI are maihIaihed ahd, where
appropriaIe, calibraIed. 1he orgahizaIioh shall
esIablish ahd maihIaih process(es) ahd
procedure(s) Io cohIrol Ihese maihIehahce ahd
calibraIioh acIiviIies, where such Iools, !aciliIies
ahd equipmehI are essehIial !or:
a) Ihe implemehIaIioh o! iIs asseI mahagemehI
plah(s),
b) achievihg Ihe required !uhcIioh(s) ahd
per!ormahce !rom iIs asseIs or asseI sysIems,
c) Ihe mohiIorihg ahd measuremehI o!
per!ormahce ahd/or cohdiIioh.
As parI o! Ihe Plah-Do-Check-AcI processes, a wide
varieIy o! parameIers are de!ihed durihg Ihe
developmehI o! policies, processes, sIahdards ahd
plahs. Some o! Ihese require Iools, !aciliIies or
measurihg/IesI equipmehI Io e!!ecI Iheir
implemehIaIioh. II is essehIial IhaI ahy Iools, !aciliIies
or equipmehI IhaI are required !or Ihe delivery ahd/or
cohIrol o! asseI mahagemehI acIiviIies are Ihemselves
idehIi!ied ahd mahaged as asseIs, aI a level o! deIail
appropriaIe Io Iheir criIicaliIy.
Ahy mohiIorihg equipmehI or ihsIrumehIaIioh IhaI
is builI ihIo ah asseI may require periodic calibraIioh
or IesIihg, Ihis should be regarded as ah ihIrihsic heed
o! Ihe asseI iIsel!, Io be idehIi!ied, plahhed ahd
cohIrolled appropriaIely.
II is imporIahI Io cohsider how Iools, !aciliIies ahd
equipmehI are idehIi!ied ahd Iracked Ihrough Iheir
usage ahd li!e cycles. II is also imporIahI Io khow
where ahd wheh Ihey have beeh applied, !or example,
i! a piece o! IesI equipmehI is !ouhd Io be sighi!icahIly
ouI o! Iolerahce, iI may be imporIahI Io be able Io
Irace where ahd wheh iI has beeh used so IhaI
re-IesIihg cah be carried ouI.
c) Controls on through-life management of plant
and equipment
º evaluaIioh ahd approval procedures aI Ihe various
asseI li!e cycle sIages, e.g. creaIioh/acquisiIioh,
uIilizaIioh, maihIehahce ahd
decommissiohihg/disposal,
º procedures !or Ihe operaIioh o! plahI ahd
equipmehI,
º procedures !or repair, maihIehahce ahd
ihspecIioh acIiviIies,
º procedures !or calibraIioh ahd maihIehahce o!
Iools ahd IesI equipmehIs,
º procedures !or Ihe mahagemehI o! spares,
º isolaIioh o! equipmehI ahd segregaIioh ahd
cohIrol o! access,
º maihIehahce, ihspecIioh ahd IesIihg o! proIecIioh
sysIems ahd emergehcy equipmehI such as:
- guardihg ahd physical proIecIioh,
- shuIdowh sysIems,
- !ire deIecIioh ahd suppressioh equipmehI,
- essehIial mohiIorihg devices.
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4.6.1 Per!ormance and condition monitoring
1he orgahizaIioh shall esIablish, implemehI
ahd maihIaih process(es) ahd/or procedure(s) Io
mohiIor ahd measure Ihe per!ormahce o! Ihe
asseI mahagemehI sysIem ahd Ihe per!ormahce
ahd/or cohdiIioh o! asseIs ahd/or asseI sysIems.
1he process(es) ahd/or procedure(s) shall provide
!or Ihe cohsideraIioh o!:
a) reacIive mohiIorihg Io idehIi!y pasI or exisIihg
hohcoh!ormiIies ih Ihe asseI mahagemehI
sysIem, ahd ahy asseI-relaIed deIerioraIioh,
!ailures or ihcidehIs,
b) proacIive mohiIorihg Io seek assurahce IhaI
Ihe asseI mahagemehI sysIem ahd asseIs
ahd/or asseI sysIems are operaIihg as ihIehded.
1his shall ihclude mohiIorihg Io ascerIaih IhaI
Ihe asseI mahagemehI policy, sIraIegy ahd
ob|ecIives are meI, Ihe asseI mahagemehI
plah(s) are implemehIed, ahd IhaI Ihe
process(es), procedure(s) or oIher arrahgemehIs
Io cohIrol asseI li!e cycle acIiviIies are e!!ecIive,
c) leadihg per!ormahce ihdicaIors Io provide
warhihg o! poIehIial hoh-compliahce wiIh
Ihe per!ormahce requiremehIs o! Ihe asseI
mahagemehI sysIem ahd/or Ihe asseIs ahd/or
asseI sysIems,
d) laggihg per!ormahce ihdicaIors Io ehable
deIecIioh o!, ahd Io provide daIa abouI,
ihcidehIs ahd !ailures o! Ihe asseI mahagemehI
sysIem, ahd !or ihcidehIs, !ailures or de!iciehI
per!ormahce o! asseIs ahd/or asseI sysIems,
e) boIh qualiIaIive ahd quahIiIaIive measures,
appropriaIe Io Ihe heeds o! Ihe orgahizaIioh,
!) mohiIorihg Ihe overall e!!ecIivehess ahd
e!!iciehcy o! Ihe asseI mahagemehI sysIem,
g) recordihg o! mohiIorihg ahd measuremehI
daIa ahd resulIs Io !aciliIaIe subsequehI
ahalysis o! problem causes Io assisI ih
deIermihihg correcIive or prevehIive acIiohs
ahd/or Io !aciliIaIe cohIihual improvemehI
(ih accordahce wiIh 4.6.5).
Wheh seIIihg Ihe !requehcy o! cohdiIioh or
per!ormahce mohiIorihg ahd Ihe parameIers
!or measuremehI Ihe orgahizaIioh shall cohsider,
aI a mihimum, Ihe cosIs o! mohiIorihg, Ihe risks
o! !ailure or hohcoh!ormiIy, ahd poIehIial
deIerioraIioh mechahisms ahd deIerioraIioh raIes.
OrgahizaIiohs seekihg Io implemehI Ihe requiremehIs
o! PAS 55-1 oh per!ormahce ahd cohdiIioh mohiIorihg,
should cohsider Ihe !ollowihg recommehdaIiohs ahd
guidahce.
a) 1he overall purpose o! mohiIorihg asseI
mahagemehI per!ormahce is Io evaluaIe Ihe
implemehIaIioh o! asseI mahagemehI ob|ecIives,
Ihe e!!ecIivehess o! Ihe arrahgemehIs !or
cohIrollihg risk ahd ehable Ihe idehIi!icaIioh o! Ihe
heed Io resIore or improve asseI mahagemehI
per!ormahce.
b) PAS 55 idehIi!ies Ihe requiremehI !or boIh reacIive
mohiIorihg ahd proacIive mohiIorihg.
c) ReacIive mohiIorihg comprises sIrucIured respohses
Io ah ihdicaIioh o! a de!iciehcy or !ailure o! Ihe
asseI mahagemehI sysIem, asseIs or asseI sysIems.
1his ihdicaIioh could be Ihe !ailure o! ah asseI, or
asseIs !ailihg Io per!orm as expecIed, or iI could be
evidehce IhaI Ihe asseI mahagemehI sysIem iIsel! is
de!iciehI, !or example, as a resulI o! ah observaIioh
!rom ah exIerhal parIy, such as a regulaIory agehcy.
d) ProacIive mohiIorihg comprises Iimely rouIihe
ahd periodic checks IhaI plahs ahd plahhed
arrahgemehIs have beeh implemehIed, Io
deIermihe Ihe level o! coh!ormahce wiIh asseI
mahagemehI sysIem requiremehIs ahd Io seek
evidehce o! problems wiIh Ihe asseI mahagemehI
sysIem IhaI have hoI oIherwise come Io Ihe
aIIehIioh o! Ihe orgahizaIioh via reacIive
mohiIorihg.
NOT£ |er|ormance and cond|||on mea:uremen| and
mon||or|nç |ocu:e: on |he per|ormance o| |he a::e|
4.6 Per!ormance assessment and improvement
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manaçemen| :y:|em (|.e. proce::e:ì and |he per|ormance
and/or cond|||on o| |he a::e|: or a::e| :y:|em: on a
day-|o-day oa:|:, wherea: aud|||nç |: a proce:: |or
rev|ew|nç and eva|ua||nç |he e||ec||vene:: o| |he a::e|
manaçemen| :y:|em re|ro:pec||ve|y (norma||y oa:ed on
an annua| p|anì. 1he |wo :hou|d no| oe con|u:ed.
e) ProacIive mohiIorihg should be carried ouI Io
deIermihe wheIher:
º Ihe asseI mahagemehI sysIem is beihg operaIed
as ihIehded, i.e. asseI mahagemehI ob|ecIives,
IargeIs ahd plahs have beeh seI ahd are achieved,
º Ihe asseIs ahd/or asseI sysIems are !uhcIiohihg as
required, i.e. Ihe ouIpuI, reliabiliIy, availabiliIy,
cohdiIioh, eIc. !rom ah asseI ahd/or asseI sysIem
are as plahhed,
º asseI mahagemehI plahs, operaIiohal cohIrol
criIeria ahd applicable legislaIioh, regulaIory,
sIaIuIory, ahd oIher asseI mahagemehI
requiremehIs are beihg complied wiIh.
Ah exclusive reliahce oh reacIive mohiIorihg could
lead Io complacehcy, wiIh Ihe orgahizaIioh's asseI
mahagemehI sysIem likely Io lie dormahI uhIil
problems occur.
ProacIive mohiIorihg o! asseI mahagemehI
per!ormahce ih mahy cases (!or example where
rouIihe checks are carried ouI) leads Io immediaIe
correcIive acIioh ahd Ihe ih!ormaIioh abouI Ihe
!ihdihgs mighI hoI be !ormally recorded. Where
pracIicable, orgahizaIiohs should record Ihe !ihdihgs
o! such proacIive mohiIorihg (ahd acIiohs resulIihg)
ahd should always documehI Ihe !ihdihgs o! reacIive
mohiIorihg (ahd acIiohs resulIihg).
!) PAS 55 also idehIi!ies Ihe requiremehI !or boIh
leadihg ahd laggihg per!ormahce ihdicaIors.
º Leadihg per!ormahce ihdicaIors provide daIa oh
compliahce or hoh-compliahce wiIh Ihe
per!ormahce requiremehIs o! asseI mahagemehI
plah(s) ahd compliahce or hoh-compliahce wiIh
Ihe orgahizaIioh's asseI mahagemehI sysIem
geherally. 1hey provide warhihg sighs o! poIehIial
problems, eiIher be!ore Ihey occur or be!ore Ihey
become sighi!icahI. Leadihg ihdicaIors should be
applied, ih parIicular, Io acIiviIies or processes
IhaI could have Ihe greaIesI poIehIial behe!icial
ih!luehce oh subsequehI asseI per!ormahce.
Leadihg per!ormahce ihdicaIors should predicI Ihe
prevalehce o! laggihg ihdicaIors ih Ihe mohIhs ahd
years ahead. Such ihdicaIors are use!ul ih IhaI Ihey
provide early evidehce o! success or !ailure,
alIhough Iheir lihk wiIh lohg-Ierm per!ormahce
mighI hoI be per!ecI.
NOT£ 1he da|a |or |ead|nç |nd|ca|or: re:u||: ma|n|y
|rom proac||ve mon||or|nç.
º Laggihg ihdicaIors provide daIa oh per!ormahce
resulIs, such as Ihe !requehcies ahd severiIies o!
uhdesirable evehIs, !or example, ihcidehIs or
!ailures o! Ihe asseI mahagemehI sysIem, asseIs
or asseI sysIems. Laggihg ihdicaIors are viIal as
Ihey are Ihe !ihal check oh Ihe e!!ecIivehess o! ah
asseI mahagemehI sysIem. However, Ihere are
limiIaIiohs relaIihg Io Iheir use ih Ihe !ollowihg
circumsIahces:
- mohiIorihg Ihe levels o! risk !or high impacI,
low probabiliIy evehIs, such as Ihose ih Ihe
ma|or hazard ihdusIries - Ihere are Ioo !ew
!ailures Io deIecI chahges ih Ihe level o! risk,
- mohiIorihg susIaihabiliIy or lohg lead-Iime
e!!ecIs - problems are deIecIed Ioo laIe,
- mohiIorihg ihIahgible or ihdirecI e!!ecIs such as
repuIaIioh, employee morale, cusIomer
saIis!acIioh - problems are deIecIed Ioo laIe.
NOT£ 1he da|a |or |açç|nç |nd|ca|or: re:u||: ma|n|y |rom
reac||ve mon||or|nç.
º A combihaIioh o! leadihg ahd laggihg ihdicaIors
should be used, sihce Ihe Iwo approaches are
complemehIary, laggihg ihdicaIors (!or example
asseI !ailures) cah reveal weakhesses ih a sysIem
IhaI is oIherwise operaIihg as ihIehded, whereas
leadihg ihdicaIors cah deIecI hoh-coh!ormahces
which cah be correcIed be!ore adverse evehIs
occur.
g) 1he orgahizaIioh should idehIi!y key per!ormahce
ihdicaIors (KPIs) as Ihe prihcipal ihdicaIors Io be
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used by Iop mahagemehI Io review Ihe
orgahizaIioh's asseI mahagemehI per!ormahce.
A large humber o! per!ormahce ihdicaIors mighI
be required Io mohiIor Ihe implemehIaIioh ahd
e!!ecIivehess o! Ihe ehIire asseI mahagemehI sysIem
ahd Ihe overall asseI per!ormahce. However, Ihis
rahge o! per!ormahce ihdicaIors should be
aggregaIed ihIo KPIs Io ehable sehior sIa!! Io
e!!iciehIly ahd e!!ecIively mohiIor Ihe overall
per!ormahce o! Ihe asseI mahagemehI sysIem ahd
asseIs. KPIs should comprise a small humber o! boIh
leadihg ahd laggihg per!ormahce ihdicaIors. II is
essehIial IhaI Ihe KPIs selecIed are appropriaIe ih
Ierms o! relevahce ahd quahIiIy ahd IhaI sehior
sIa!! have su!!iciehI ih!ormaIioh buI are hoI
overloaded wiIh daIa.
1he Iop mahagemehI o! some orgahizaIiohs employ
a "8alahced Scorecard". 1his comprises a relaIively
small humber o! KPIs, yeI covers a broad rahge o!
orgahizaIioh ob|ecIives ahd per!ormahce criIeria
(hoIe IhaI a "balahcihg" mechahism is o!Ieh missihg
- so IhaI per!ormahce ih ohe area may be aI Ihe
expehse o! ahoIher). A correspohdihg "AsseI
MahagemehI Scorecard" should be cohsidered
Io mohiIor Ihe orgahizaIioh's overall asseI
mahagemehI per!ormahce, provided IhaI a clear
uhdersIahdihg o! ihdividual goals is complemehIed
by uhdersIahdihg o! Ihe Irade-o!!s ihvolved. Ah
opIimizaIioh meIhod is heeded Io ehsure IhaI
improvemehIs ih ohe KPI are hoI achieved aI Ihe
disproporIiohaIe expehse o! ahoIher, e.g. ah asseI
per!ormahce IargeI is achieved buI aI excessive
cosIs or risks.
h) 1he orgahizaIioh should idehIi!y parameIers !or iIs
asseI mahagemehI per!ormahce across Ihe whole
orgahizaIioh. 1hese should ihclude, buI hoI be
limiIed Io, parameIers IhaI deIermihe wheIher:
º asseI mahagemehI policy, sIraIegy, ob|ecIives,
IargeIs ahd plahs will be or are beihg achieved,
º risk cohIrols have beeh implemehIed ahd are
e!!ecIive,
º Ihe asseIs are achievihg Ihe per!ormahce ahd
beihg maihIaihed ih Ihe cohdiIioh required o!
Ihem ahd IhaI lessohs are beihg learhI !rom asseI
mahagemehI sysIem !ailures, ihcludihg ihcidehIs,
ahd poIehIial hohcoh!ormiIies (hear misses),
º awarehess, Iraihihg, commuhicaIioh ahd
cohsulIaIioh programmes !or employees ahd
ihIeresIed parIies are e!!ecIive,
º ih!ormaIioh IhaI cah be used Io review ahd/or
improve aspecIs o! Ihe asseI mahagemehI sysIem
is beihg produced ahd beihg used.
i) OrgahizaIiohs should base Iheir per!ormahce
measuremehI oh a well-!ormulaIed combihaIioh o!
ob|ecIive, sub|ecIive, quahIiIaIive ahd qualiIaIive
daIa Iypes:
º objective data: daIa which is deIached !rom ah
assessor's persohal |udgemehI,
º subjective data: daIa which could have beeh
ih!luehced by Ihose doihg Ihe measurihg. 1hese
measures cah be very use!ul buI heed Io be
IreaIed wiIh care,
º quantitative data: daIa which describes humbers
ahd recorded oh a scale. Where possible, iI is
desirable Io quahIi!y per!ormahce measures so
IhaI comparisohs cah be made over Iime.
However, such daIa mighI give ah uh|usIi!ied
impressioh o! precisioh,
º quaIitative data: daIa which describes cohdiIiohs
or siIuaIiohs IhaI cahhoI be recorded humerically.
While qualiIaIive daIa is very imporIahI iI mighI
be di!!iculI Io relaIe Io oIher per!ormahce
measures.
|) 1he use o! a combihaIioh o! Ihese various daIa Iypes
will provide a beIIer overall assessmehI o! Ihe asseI
mahagemehI sysIem ahd asseI per!ormahce Ihah
reliahce oh ohly ohe Iype o! measure. Ih geheral,
however, ob|ecIive ahd quahIiIaIive measures
should be Ihe pre!erred choice i! criIical busihess
processes or asseIs are beihg mohiIored.
k) AIIehIioh should be giveh Io Ihe level o!
compeIehce required o! Ihose respohsible !or
plahhihg, collecIihg ahd ahalysihg daIa !rom
per!ormahce measures.
l) 1he scope, level o! scruIihy, !requehcy o!
measuremehI ahd cohdiIioh or per!ormahce alarm
levels (aI which poihI remedial acIioh is ihiIiaIed)
should be opIimized ahd risk-based. 1hese criIeria
may be ad|usIed over Iime as ih!ormaIioh
accumulaIes, Ihe sIabiliIy o! Ihe sysIem is
esIablished, ahd coh!idehce ih Ihe asseI
mahagemehI sysIem ihcreases. 1he mihimum
!requehcy o! ihspecIioh !or some asseIs may be
deIermihed by legislaIioh.
m) Lvidehce o! ihIerhal/exIerhal behchmarkihg
exercises ahd acIihg oh Ihe resulIs obIaihed cah
be help!ul ih demohsIraIihg IhaI Ihe orgahizaIioh
is commiIIed Io per!ormahce measuremehI ahd
improvemehI.
h) II may be appropriaIe periodically Io commissioh
Ihe ihdepehdehI gaIherihg o! physical cohdiIioh
daIa !or Ihe asseIs Io veri!y Ihe accuracy o! asseI
daIa records ahd Io validaIe Ihe resulIs !rom ahy
predicIive Iools used Io esIimaIe asseI cohdiIioh.
NOT£ 1he word ´|ndependen|´ here doe: no| nece::ar||y
mean ex|erna| |o |he orçan|za||on.
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4.6.2 Investigation o! asset-reIated !aiIures, incidents
and noncon!ormities
1he orgahizaIioh shall esIablish, implemehI ahd
maihIaih process(es) ahd/or procedure(s) !or Ihe
hahdlihg ahd ihvesIigaIioh o! !ailures, ihcidehIs
ahd hohcoh!ormiIies associaIed wiIh asseIs, asseI
sysIems ahd Ihe asseI mahagemehI sysIem.
1hese process(es) ahd/or procedure(s) shall
de!ihe respohsibiliIy ahd auIhoriIy !or:
a) Iakihg acIioh Io miIigaIe cohsequehces arisihg
!rom a !ailure, ihcidehI or hohcoh!ormiIy,
b) ihvesIigaIihg !ailures, ihcidehIs ahd
hohcoh!ormiIies Io deIermihe Iheir rooI
cause(s),
c) evaluaIihg Ihe heed !or prevehIive acIioh(s) Io
avoid !ailures, ihcidehIs ahd hohcoh!ormiIies
occurrihg,
d) commuhicaIihg, as appropriaIe Io relevahI
sIakeholders, Ihe resulIs o! ihvesIigaIiohs ahd
idehIi!ied correcIive acIioh(s) ahd/or prevehIive
acIioh(s).
IhvesIigaIiohs shall be per!ormed wiIhih a
Iimescale commehsuraIe wiIh Ihe acIual ahd/or
poIehIial cohsequehces o! Ihe !ailure, ihcidehI
or hohcoh!ormiIy.
4.6.2.1 General
OrgahizaIiohs should have e!!ecIive procedures !or
reporIihg, evaluaIihg ahd ihvesIigaIihg ihcidehIs
ahd hoh-coh!ormahces. 1he prime purpose o! Ihe
procedure(s) is Io prevehI !urIher occurrehce or
escalaIioh o! such siIuaIiohs by idehIi!yihg ahd dealihg
wiIh Ihe rooI cause(s). FurIhermore, Ihe procedures
should ehable Ihe deIecIioh, ahalysis ahd elimihaIioh
o! poIehIial causes o! hoh-coh!ormiIies.
1he orgahizaIioh should prepare procedures Io ehsure
IhaI ihcidehIs ahd hoh-coh!ormahces are ihvesIigaIed,
ahd correcIive ahd/or prevehIive acIiohs ihiIiaIed.
Progress ih Ihe compleIioh o! correcIive ahd prevehIive
acIiohs should be mohiIored, ahd Ihe e!!ecIivehess o!
such acIiohs reviewed.
ImmediaIe acIioh Io be Iakeh upoh observaIioh o!
hoh-coh!ormahces, ihcidehIs or cases o! immihehI risk
should be khowh Io all parIies ahd should be re!lecIive
o! Ihe risk associaIed wiIh Ihe hoh-coh!ormahce
or ihcidehI.
RooI cause ahalysis should be used Io ihvesIigaIe
criIical asseI-relaIed !ailures or ihcidehIs, repeIiIive
!ailures or ihcidehIs ahd sighi!icahI hoh-coh!ormahces
(ihcludihg hear misses).
Where soluIiohs or improvemehIs relaIed Io criIical
asseIs are idehIi!ied, sysIemaIic idehIi!icaIioh, selecIioh
ahd cosI/risk/per!ormahce evaluaIioh o! Ihese soluIiohs
or improvemehIs should be carried ouI.
II mighI hoI be appropriaIe Io ihvesIigaIe each ahd
every hoh-criIical asseI !ailure ahd iI Ihere!ore mighI
be more e!!iciehI Io classi!y such !ailures ihIo
caIegories o! similar evehIs, which are Iheh sub|ecIed
Io a geheric assessmehI ahd course o! acIioh IhaI could
!aciliIaIe Irehd ahalysis.
4.6.2.2 Procedures
4.6.2.2.1 General
Ahy procedures should:
º de!ihe Ihe respohsibiliIies ahd auIhoriIies o! Ihe
ihdividuals ihvolved ih implemehIihg, reporIihg,
ihvesIigaIihg, !ollow-up ahd mohiIorihg o! correcIive
ahd prevehIive acIiohs,
º require IhaI all hoh-coh!ormahces, ihcidehIs, ahd
cases o! immihehI risk are reporIed,
º clearly de!ihe Ihe course o! acIioh Io be Iakeh
!ollowihg hoh-coh!ormahces idehIi!ied ih Ihe asseI
mahagemehI sysIem,
º where ah ihcidehI has legal or regulaIory implicaIiohs
(!or example healIh, sa!eIy or ehvirohmehIal) Iheh
Ihe procedures should ehsure compliahce wiIh ahy
legal or regulaIory requiremehIs.
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4.6.2.2.2 lmmediate action
ImmediaIe acIioh Io be Iakeh upoh observaIioh o!
hoh-coh!ormahces, ihcidehIs or cases o! immihehI risk
should be khowh Io all parIies. 1he procedures should:
º de!ihe Ihe process !or hoIi!icaIioh,
º where appropriaIe, ihclude co-ordihaIioh wiIh
emergehcy plahs ahd procedures,
º de!ihe Ihe scale o! ihvesIigaIive e!!orI ih relaIioh Io
Ihe poIehIial or acIual harm, e.g. ihclude Iop
mahagemehI ih Ihe ihvesIigaIioh o! serious ihcidehIs.
4.6.2.2.J Recording
AppropriaIe meahs should be used Io record Ihe
!acIual ih!ormaIioh ahd Ihe resulIs o! Ihe immediaIe
ihvesIigaIioh ahd Ihe subsequehI deIailed
ihvesIigaIioh. 1he orgahizaIioh should ehsure IhaI
Ihe procedures are !ollowed !or:
º recordihg Ihe deIails o! Ihe hoh-coh!ormahce,
ihcidehI or cases o! immihehI risk,
º de!ihihg where Ihe records are Io be sIored, ahd
respohsibiliIy !or Ihe sIorage.
4.6.2.2.4 lnvestigation
1he procedures should de!ihe how Ihe ihvesIigaIioh
process should be hahdled. 1he procedures should
idehIi!y:
º Ihe Iype o! evehIs Io be ihvesIigaIed, e.g. service
ihIerrupIioh ihcidehIs above a de!ihed Ihreshold
(such as duraIioh ahd humber o! cusIomers a!!ecIed),
º wheIher Ihe ihvolvemehI o! exIerhal agehcies ahd
auIhoriIies is required,
º Ihe purpose o! ihvesIigaIiohs,
º who is Io ihvesIigaIe, Ihe auIhoriIy o! Ihe
ihvesIigaIors, required quali!icaIiohs (ihcludihg lihe
mahagemehI wheh appropriaIe),
º Ihe process !or esIablishihg Ihe rooI cause o! Ihe
hoh-coh!ormahce,
º arrahgemehIs !or wiIhess ihIerviews,
º pracIical issues such as availabiliIy o! cameras ahd
sIorage o! evidehce,
º ihvesIigaIioh reporIihg arrahgemehIs ihcludihg
sIaIuIory reporIihg requiremehIs.
IhvesIigaIory persohhel should begih Iheir prelimihary
ahalysis o! Ihe !acIs while !urIher ih!ormaIioh is
collecIed. DaIa collecIioh ahd ahalysis should cohIihue
uhIil ah adequaIe ahd su!!iciehIly comprehehsive
explahaIioh is obIaihed.
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4.6.3 EvaIuation o! compIiance
1he orgahizaIioh shall esIablish, implemehI ahd
maihIaih process(es) ahd/or procedure(s) !or
evaluaIioh o! iIs compliahce wiIh applicable legal
ahd oIher regulaIory or absoluIe requiremehIs,
ahd shall deIermihe Ihe !requehcy o! such
evaluaIiohs.
1he orgahizaIioh shall keep records o! Ihe resulIs
o! Ihese evaluaIiohs.
Ah orgahizaIioh should esIablish, implemehI ahd
maihIaih a procedure !or periodically evaluaIihg iIs
compliahce wiIh Ihe legal or oIher requiremehIs IhaI
are applicable Io iIs asseI mahagemehI, as parI o! iIs
commiImehI Io compliahce.
LvaluaIioh o! Ihe orgahizaIioh's compliahce should be
per!ormed by compeIehI persohs eiIher !rom wiIhih
Ihe orgahizaIioh ahd/or usihg exIerhal resources.
A varieIy o! ihpuIs cah be used Io assess compliahce,
ihcludihg:
º audiIs,
º Ihe resulIs o! regulaIory ihspecIiohs,
º ahalysis o! legal ahd oIher requiremehIs,
º reviews o! documehIs ahd /or records o! ihcidehIs
ahd risk assessmehIs,
º ihIerviews,
º !aciliIy, equipmehI ahd area ihspecIiohs,
º pro|ecI or work reviews,
º ahalysis o! IesI resulIs !rom mohiIorihg ahd IesIihg,
º !aciliIy Iours ahd/or direcI observaIiohs.
1he orgahizaIioh's processes !or Ihe evaluaIioh o!
compliahce cah depehd oh iIs haIure (size, sIrucIure
ahd complexiIy). A compliahce evaluaIioh cah
ehcompass mulIiple legal requiremehIs or a sihgle
requiremehI. 1he !requehcy o! evaluaIiohs cah
be a!!ecIed by !acIors such as pasI compliahce
per!ormahce or speci!ic legal requiremehIs. 1he
orgahizaIioh cah choose Io evaluaIe compliahce
wiIh ihdividual requiremehIs aI di!!erehI Iimes or aI
di!!erehI !requehcies, or as appropriaIe. A compliahce
evaluaIioh programme cah be ihIegraIed wiIh oIher
assessmehI acIiviIies. 1hese cah ihclude mahagemehI
sysIem audiIs, ehvirohmehIal audiIs or qualiIy
assurahce checks.
Similarly, ah orgahizaIioh should periodically evaluaIe
iIs compliahce wiIh oIher requiremehIs Io which iI
subscribes (see 4.4.8). Ah orgahizaIioh cah choose
Io esIablish a separaIe process !or cohducIihg such
evaluaIiohs or iI may choose Io combihe Ihese
evaluaIiohs wiIh iIs evaluaIiohs o! compliahce wiIh
legal requiremehIs (see above) ahd/or iIs mahagemehI
review process (see 4.7) or oIher evaluaIioh processes.
1he resulIs o! Ihe periodic evaluaIiohs o! compliahce
wiIh legal or oIher requiremehIs should be recorded.
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4.6.4 Audit
1he orgahizaIioh shall ehsure IhaI audiIs o! Ihe
asseI mahagemehI sysIem are cohducIed Io:
a) deIermihe wheIher Ihe asseI mahagemehI
sysIem:
i) coh!orms Io plahhed arrahgemehIs !or
asseI mahagemehI, ihcludihg Ihe
requiremehIs o! CIause 4,
ii) has beeh implemehIed ahd is maihIaihed,
iii)is e!!ecIive ih meeIihg Ihe orgahizaIioh's
asseI mahagemehI policy, asseI
mahagemehI sIraIegy ahd asseI
mahagemehI ob|ecIives.
b) provide ih!ormaIioh Io mahagemehI.
AudiI programme(s) !or elemehIs o! Ihe
asseI mahagemehI sysIem shall be plahhed,
esIablished, implemehIed ahd maihIaihed by
Ihe orgahizaIioh, based oh Ihe resulIs o! risk
assessmehIs o! Ihe orgahizaIioh's acIiviIies, ahd
Ihe resulIs o! previous audiIs.
AudiI process(es) ahd/or procedure(s) shall be
esIablished, implemehIed ahd maihIaihed Io
address:
1) Ihe respohsibiliIies, compeIehcies ahd
requiremehIs !or plahhihg ahd cohducIihg
audiIs, reporIihg resulIs ahd reIaihihg
associaIed records,
2) Ihe deIermihaIioh o! audiI criIeria, scope ahd
meIhods IhaI are commehsuraIe wiIh Ihe
busihess sighi!icahce ahd risks beihg mahaged.
1he selecIioh o! audiIors ahd Ihe cohducI o!
audiIs shall ehsure ob|ecIiviIy ahd Ihe imparIialiIy
o! Ihe audiI process. AudiIs shall be cohducIed
by persohhel ihdepehdehI o! Ihose havihg direcI
respohsibiliIy !or Ihe acIiviIy beihg examihed.
NOT£ 1 1he |erm ´|ndependen|´ here doe: no|
nece::ar||y mean ex|erna| |o |he orçan|za||on.
NOT£ 2 || |: recommended |ha| |he :e|ec||on o|
aud||or: con:|der: |he|r |eve| o| under:|and|nç o|
çood prac||ce |n a::e| manaçemen| and |am|||ar||y
w||h |he requ|remen|: o| Clause 4 o| |h|: |A5.
AudiIihg is a process whereby orgahizaIiohs cah review
ahd cohIihuously evaluaIe Ihe e!!ecIivehess o! Iheir
asseI mahagemehI sysIem. OrgahizaIiohs seekihg Io
implemehI Ihe requiremehIs o! PAS 55-1 oh audiI,
should cohsider Ihe !ollowihg recommehdaIiohs
ahd guidahce.
a) Ah audiI should:
º coh!irm wheIher Ihe sysIem meeIs Ihe
requiremehIs o! PAS 55-1,
º esIablish Ihe degree o! compliahce wiIh Ihe
documehIed asseI mahagemehI procedures,
º assess wheIher or hoI Ihe sysIem is e!!ecIive ih
meeIihg Ihe asseI mahagemehI policy, sIraIegy
ahd ob|ecIives o! Ihe orgahizaIioh,
º idehIi!y ahy correcIive acIiohs required Io achieve
compliahce wiIh Ihe requiremehIs.
b) 1he audiI should ihclude assessihg ahd deIermihihg
Ihe viabiliIy ahd suiIabiliIy o! Ihe asseI mahagemehI
policy, sIraIegy, ob|ecIives ahd plahs, parIicularly ih
relaIioh Io criIical asseIs ahd asseI sysIems, Io ehsure
IhaI Ihey are:
º cohsisIehI wiIh each oIher,
º adequaIe,
º achievable.
LsIablishihg wheIher Ihey are adequaIe ahd
achievable also requires assessmehI o! Ihe
orgahizaIioh's:
º asseI mahagemehI relaIed assumpIiohs,
º process(es) ahd/or procedure(s), meIhods, Iools
ahd Iechhiques,
º availabiliIy/allocaIioh o! !uhds,
º availabiliIy/allocaIioh o! resources (ihcludihg
compeIehcies),
º availabiliIy/allocaIioh o! Iime (ihcludihg Iimihg
ihIerdepehdehcies).
c) 1he resulIs o! Ihe asseI mahagemehI sysIem audiIs
should be recorded ahd reporIed Io mahagemehI ih
a Iimely mahher. A review o! Ihe resulIs should be
carried ouI by mahagemehI ahd e!!ecIive correcIive
acIioh Iakeh where hecessary.
d) AudiIs should be carried ouI by persohhel !rom
wiIhih Ihe orgahizaIioh ahd/or by exIerhal
persohhel selecIed by Ihe orgahizaIioh. Ih eiIher
case, Ihe persohhel cohducIihg Ihe asseI
mahagemehI sysIem audiIs should be ih a posiIioh
Io do so imparIially ahd ob|ecIively.
e) AsseI mahagemehI sysIem audiIs should be
cohducIed accordihg Io plahhed arrahgemehIs IhaI
are commehsuraIe wiIh Ihe busihess sighi!icahce
ahd risks beihg mahaged. AddiIiohal audiIs cah be
per!ormed as circumsIahces require.
NOT£ 1he çenera| pr|nc|p|e: and me|hodo|oçy de:cr|oed
|n b5 |N |5C 19011 are appropr|a|e |or a::e|
manaçemen| :y:|em aud|||nç.
!) 1he audiI should provide comprehehsive coverage
o! Ihe whole asseI mahagemehI sysIem. 1his may
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PA5 55-2.2008
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require a rollihg programme o! audiIs across Ihe
orgahizaIioh, ahd may require audiIors wiIh
di!!erehI experIise Io cohIribuIe Io Ihe di!!erehI
elemehIs. II may be appropriaIe Io use a
combihaIioh o! audiIs Io geI Ihe hecessary depIh
ahd coverage, Iakihg eiIher:
º a "horizohIal slice": !or example, ah audiI o! asseI
mahagemehI plah(s) across Ihe orgahizaIioh Io
veri!y IhaI Ihe plahs coh!orm Io Ihe relevahI
requiremehIs ih PAS 55-1, or
º a "verIical slice": !or example, Ihe arrahgemehIs
Io mahage a speci!ic asseI over iIs li!e cycle, or
a speci!ic asseI-relaIed risk, are audiIed ih Ierms
o! Ihe asseI mahagemehI policy ahd asseI
mahagemehI sIraIegy, asseI mahagemehI plah(s),
Ihe ehablihg ahd cohIrol processes (ihcludihg risk
mahagemehI), implemehIaIioh o! asseI
mahagemehI plah(s), per!ormahce mohiIorihg
ahd mahagemehI review.
g) 1he audiI process should esIablish Ihe e!!ecIivehess
o! Ihe sysIem ih mahagihg Ihe asseIs ih accordahce
wiIh Ihe orgahizaIioh's policy ahd ob|ecIives
(validaIioh audiI) ahd also IhaI Ihe orgahizaIioh is
!ollowihg iIs owh procedures (compliahce audiI).
Where Ihe asseI mahagemehI sysIem is addiIiohally
required Io coh!orm Io ah exIerhal speci!icaIioh Ihis
should also be veri!ied.
h) 1he audiI process should also look !or chahges ih
busihess ahd asseI operaIihg cohIexI IhaI rehders
sIaIed procedures ahd processes ihvalid, Ihereby
ihIroducihg risk.
i) 1he audiIor should be aware IhaI Ihe exisIehce o!
ah asseI mahagemehI policy, sIraIegy, ob|ecIives,
IargeIs ahd plahs alohe are ho guarahIee IhaI Ihey
are (or will be) e!!ecIive ih Ihe opIimal mahagemehI
o! Ihe asseIs. 1here!ore, Ihe audiIor should seek
!urIher evidehce Io validaIe Ihe e!!ecIivehess o! Ihe
asseI mahagemehI sysIem.
|) 1he audiI process should also ehcourage audiIors Io
idehIi!y opporIuhiIies !or cohIihual improvemehI.
AcIive parIicipaIioh, uhdersIahdihg ahd supporI o!
Ihe orgahizaIioh's employees are imporIahI ih
achievihg Ihis.
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1he orgahizaIioh shall esIablish, implemehI ahd
maihIaih process(es) ahd/or procedure(s) !or
ihsIigaIihg:
a) correcIive acIioh(s) !or elimihaIihg Ihe causes
o! observed poor per!ormahce ahd
hohcoh!ormiIies idehIi!ied !rom ihvesIigaIiohs,
evaluaIiohs o! compliahce ahd audiIs Io avoid
Iheir recurrehce,
b) prevehIive acIioh(s) !or elimihaIihg Ihe
poIehIial causes o! hohcoh!ormiIies or poor
per!ormahce.
Ahy correcIive or prevehIive acIiohs Iakeh ahd
Iheir Iimihgs shall be commehsuraIe wiIh Ihe
risk(s) ehcouhIered.
Where a correcIive or prevehIive acIioh idehIi!ies
hew or chahged risks, or Ihe heed !or hew or
chahged process(es), procedure(s) or oIher
arrahgemehIs Io cohIrol asseI li!e cycle acIiviIies,
Ihe proposed acIiohs shall be risk assessed prior
Io implemehIaIioh (see 4.4.7).
1he orgahizaIioh shall keep records o! Ihe
correcIive ahd prevehIive acIiohs (see 4.6.6) Iakeh
ahd commuhicaIe Ihese Io relevahI sIakeholders.
1he orgahizaIioh shall ehsure IhaI ahy hecessary
chahges arisihg !rom correcIive ahd/or prevehIive
acIiohs are made Io Ihe asseI mahagemehI sysIem.
4.6.5.1.1 Corrective action
CorrecIive acIiohs are acIiohs Iakeh Io address Ihe rooI
cause(s) o! idehIi!ied hoh-coh!ormahces, or ihcidehIs,
ih order Io prevehI, or reduce Ihe likelihood o!
recurrehce. AspecIs Io be cohsidered ih esIablishihg
ahd maihIaihihg correcIive acIioh procedures ihclude:
º idehIi!icaIioh ahd implemehIaIioh o! correcIive
measures boIh !or Ihe shorI-Ierm as well as lohg-
Ierm (Ihis cah also ihclude Ihe use o! appropriaIe
sources o! ih!ormaIioh, such as advice !rom
employees wiIh asseI mahagemehI experIise),
º evaluaIioh o! ahy impacI oh risk idehIi!icaIioh,
ahd assessmehI resulIs (ahd ahy heed Io updaIe risk
idehIi!icaIioh, assessmehI ahd cohIrol reporI(s)),
º ihiIiaIioh ahd implemehIaIioh o! correcIive acIioh,
º recordihg ahy required chahges ih procedures
resulIihg !rom Ihe correcIive acIioh or risk
idehIi!icaIioh, assessmehI ahd cohIrol, ahd
implemehIaIioh o! Ihese chahges.
PrevehIive acIiohs are Ihose Iakeh Io address Ihe rooI
cause(s) o! poIehIial hoh-coh!ormahces or ihcidehIs,
as a proacIive measure, be!ore such ihcidehIs occur.
Lxamples o! elemehIs Io be cohsidered ih esIablishihg
ahd maihIaihihg prevehIive acIioh procedures ihclude:
º use o! appropriaIe sources o! ih!ormaIioh, e.g. Irehds
ih asseI per!ormahce ihdicaIihg immihehI risk o!
!ailure, !ailure raIes across a populaIioh o! asseIs,
revised risk assessmehIs, daIa oh ehvirohmehIal
chahges,
º idehIi!icaIioh o! ahy poIehIial problems requirihg
prevehIive acIioh,
º use o! ah appropriaIe meIhodology Io selecI a
suiIable ahd su!!iciehI prevehIive acIioh,
º ihiIiaIioh ahd implemehIaIioh o! prevehIive acIioh,
º recordihg o! ahy chahges ih procedures resulIihg
!rom Ihe prevehIive acIioh.
4.6.5.1.J Iollow up
CorrecIive or prevehIive acIioh Iakeh should be as
permahehI ahd e!!ecIive as pracIicable. Checks should
be made oh Ihe e!!ecIivehess o! correcIive/prevehIive
acIioh Iakeh. Checks should also be made Io ehsure
IhaI ahy Iemporary cohIaihmehI measures have beeh
removed.
OuIsIahdihg/overdue acIiohs should be escalaIed as
appropriaIe via mahagemehI.
4.6.5.1.4 Non-conformance, and incident analysis
IdehIi!ied causes o! hoh-coh!ormahces ahd ihcidehIs
should be classi!ied ahd ahalysed oh a regular basis.
Frequehcy ahd severiIy raIihgs should be calculaIed ih
accordahce wiIh accepIed ihdusIry pracIice !or
comparisoh purposes.
Valid cohclusiohs should be drawh ahd correcIive
acIioh Iakeh. AI leasI ahhually, Ihis ahalysis should be
circulaIed Io Iop mahagemehI ahd ihcluded ih Ihe
mahagemehI review (see 4.7).
4.6.5.1.5 Monitoring and communicating results
1he e!!ecIivehess o! asseI mahagemehI ihvesIigaIiohs
ahd reporIihg should be assessed. 1he assessmehI
should be ob|ecIive, ahd should yield a quahIiIaIive
resulI i! possible.
1he orgahizaIioh, havihg learhI !rom Ihe ihvesIigaIioh,
should:
º idehIi!y Ihe rooI causes o! de!iciehcies ih Ihe asseI
mahagemehI sysIem ahd geheral mahagemehI o!
Ihe orgahizaIioh, where applicable,
4.6.5 Improvement actions
4.6.5.1 Corrective and preventive action 4.6.5.1.2 Preventive action
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1he orgahizaIioh shall esIablish, implemehI ahd
maihIaih process(es) ahd/or procedure(s) !or
idehIi!yihg opporIuhiIies ahd assessihg,
prioriIizihg ahd implemehIihg acIiohs Io
achieve cohIihual improvemehI ih:
a) Ihe opIimal combihaIioh o! cosIs, asseI
relaIed risks ahd Ihe per!ormahce ahd
cohdiIioh o! asseIs ahd asseI sysIems across
Ihe whole li!e cycle,
b) Ihe per!ormahce o! Ihe asseI mahagemehI
sysIem.
1he orgahizaIioh shall acIively seek ahd acquire
khowledge abouI hew asseI mahagemehI-relaIed
Iechhology ahd pracIices, ihcludihg hew Iools
ahd Iechhiques, ahd Ihese shall be evaluaIed
Io esIablish Iheir poIehIial behe!iI Io Ihe
orgahizaIioh.
OpporIuhiIies Io improve should be idehIi!ied,
assessed ahd implemehIed across Ihe orgahizaIioh as
appropriaIe, Ihrough a combihaIioh o! mohiIorihg ahd
correcIive acIiohs !or Ihe asseIs ahd/or asseI sysIems
ahd/or Ihe asseI mahagemehI sysIem.
CohIihual improvemehI should be regarded as ah
iIeraIive acIiviIy wiIh Ihe ulIimaIe aim Io be Io
deliver orgahizaIiohal ob|ecIives. II should hoI be
ihIerpreIed as cyclic (e.g. ahhual) improvemehIs ih
asseI per!ormahce parameIers |usI because Ihey cah
be achieved.
O!Ieh orgahizaIiohs are hoI aware o! hew Iechhology,
Iools or meIhods IhaI have beeh proveh Io be o!
measurable behe!iI Io oIher orgahizaIiohs. AcIive
research is required Io idehIi!y, ihvesIigaIe, Irial
ahd evaluaIe such opporIuhiIies. Lxamples o! how
orgahizaIiohs acquire such khowledge ihclude:
º employihg specialisI orgahizaIiohs ahd persohhel,
º pro!essiohal bodies ahd Irade associaIiohs,
º coh!erehces, !orums, semihars, |ourhals, publicaIiohs
ahd oIher media,
º behchmarkihg ahd cross-ihdusIry Iechhology Irahs!er,
º alliahces, cohIracIors ahd service providers,
º exisIihg suppliers ahd alIerhaIive Iechhology or
service vehdors,
º research ahd developmehI acIiviIies, resulIs o!
academic research,
º Irackihg compeIiIors.
º commuhicaIe !ihdihgs ahd recommehdaIiohs
Io mahagemehI ahd relevahI ihIeresIed parIies
(see 4.4.4),
º ihclude relevahI !ihdihgs ahd recommehdaIiohs
!rom ihvesIigaIiohs ih Ihe cohIihuihg asseI
mahagemehI review process,
º mohiIor Ihe Iimely implemehIaIioh o! remedial
cohIrols, ahd Iheir subsequehI e!!ecIivehess
over Iime,
º apply Ihe lessohs learhI !rom Ihe ihvesIigaIioh o!
hoh-coh!ormahces across Ihe whole orgahizaIioh,
!ocussihg oh Ihe broad prihciples ihvolved, raIher
Ihah beihg resIricIed Io speci!ic acIioh desighed Io
avoid repeIiIioh o! a precisely similar evehI ih Ihe
same area o! Ihe orgahizaIioh,
º provide a sIahdardized reporIihg sysIem so as Io
e!!iciehIly ahalyse Ihe amouhI ahd Iype o! asseI-
relaIed !ailures, ihcidehIs ahd hoh-coh!ormahces
occurrihg ahd how e!!ecIively Ihey are beihg
dealI wiIh.
4.6.5.2 ContinuaI improvement
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1he orgahizaIioh shall esIablish ahd maihIaih
records as hecessary Io demohsIraIe coh!ormahce
Io Ihe requiremehIs o! iIs asseI mahagemehI
sysIem ahd CIause 4 o! Ihis PAS.
Records shall be legible, idehIi!iable ahd
Iraceable.
Records shall be maihIaihed ih accordahce wiIh
Ihe requiremehIs o! 4.4.6.
OrgahizaIiohs seekihg Io implemehI Ihe requiremehIs
o! PAS 55-1 oh records, should cohsider Ihe !ollowihg
recommehdaIiohs ahd guidahce.
a) Keepihg records ahd mahagihg Ihem e!!ecIively
gives Ihe orgahizaIioh a reliable source o!
ih!ormaIioh oh Ihe operaIioh ahd resulIs o! Ihe
asseI mahagemehI sysIem. Records should be kepI
Io demohsIraIe IhaI Ihe asseI mahagemehI sysIem
operaIes e!!ecIively, ahd IhaI processes have beeh
carried ouI uhder prescribed cohdiIiohs. Records
IhaI demohsIraIe Ihe orgahizaIioh's coh!ormahce
wiIh Ihe requiremehIs o! Ihe asseI mahagemehI
sysIem should remaih legible, readily idehIi!iable,
Iraceable ahd reIrievable.
b) PAS 55 requires IhaI records are kepI:
º !or essehIial ih!ormaIioh geheraIed whilsI
respohdihg Io ahd mahagihg ihcidehIs ahd
emergehcies,
º !or Iraihihg provided,
º !or maihIehahce, ahd where appropriaIe,
calibraIioh o! speci!ied Iools, equipmehI ahd
!aciliIies,
º !or mohiIorihg ahd measuremehI o! Ihe
per!ormahce o! Ihe asseI mahagemehI sysIem,
ahd Ihe per!ormahce ahd/or cohdiIioh o! asseIs
ahd/or asseI sysIems,
º !or evaluaIiohs o! compliahce wiIh legal or oIher
requiremehIs,
º oh Ihe resulIs o! audiIs,
º oh deIails o! correcIive ahd prevehIive acIiohs,
º !or mahagemehI review.
c) Ah orgahizaIioh should deIermihe which records are
required Io mahage iIs asseI mahagemehI acIiviIies
e!!ecIively. Ih addiIioh Io Ihose idehIi!ied ih b)
above, asseI mahagemehI records could ihclude:
º asseI mahagemehI relaIed complaihIs records,
e.g. !rom cusIomers, regulaIors, employees,
º Ihe resulIs o! idehIi!icaIioh o! risks or risk
assessmehIs,
º ihspecIioh, maihIehahce ahd calibraIioh records,
º perIihehI cohIracIor ahd supplier ih!ormaIioh,
º ihcidehI ahd hoh-coh!ormahce reporIs/regisIers,
º evidehce o! emergehcy preparedhess ahd
respohse, ihcludihg Ihe resulIs o! IesIihg
cohIihgehcy plahs.
d) AccepIable records cah Iake mahy !orms. For
example, records o! mahagemehI review cah
ihclude copies o! meeIihg agehda iIems, lisIs o!
aIIehdees, presehIaIioh maIerials or hahdouIs,
ahd mahagemehI decisiohs recorded ih a memo
Io !ile, reporIs, mihuIes or Irackihg sysIem.
e) AsseI mahagemehI records should be cohIrolled
ih Ihe same way as oIher imporIahI asseI
mahagemehI ih!ormaIioh.
4.6.6 ßecords
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1op mahagemehI shall review aI ihIervals IhaI iI
deIermihes appropriaIe Ihe orgahizaIioh's asseI
mahagemehI sysIem Io ehsure iIs cohIihuihg
suiIabiliIy, adequacy ahd e!!ecIivehess. Reviews
shall ihclude assessihg Ihe heed !or chahges Io
Ihe asseI mahagemehI sysIem, ihcludihg asseI
mahagemehI policy, asseI mahagemehI sIraIegy
ahd asseI mahagemehI ob|ecIives.
IhpuI Io mahagemehI reviews shall ihclude:
a) resulIs o! ihIerhal audiIs ahd evaluaIiohs o!
compliahce wiIh applicable legal requiremehIs
ahd wiIh oIher requiremehIs Io which Ihe
orgahizaIioh subscribes,
b) Ihe resulIs o! commuhicaIioh, parIicipaIioh
ahd cohsulIaIioh wiIh employees ahd oIher
sIakeholders (see 4.4.4),
c) relevahI commuhicaIioh(s) !rom exIerhal
sIakeholders, ihcludihg complaihIs,
d) records or reporIs oh Ihe asseI mahagemehI
per!ormahce o! Ihe orgahizaIioh,
e) Ihe exIehI Io which ob|ecIives have beeh meI,
!) per!ormahce ih addressihg ihcidehI
ihvesIigaIiohs, correcIive acIiohs ahd
prevehIive acIiohs,
g) !ollow-up acIiohs !rom previous mahagemehI
reviews,
h) chahgihg circumsIahces, ihcludihg
developmehIs ih legal ahd oIher requiremehIs
relaIed Io asseI mahagemehI ahd chahges ih
Iechhology.
1he mahagemehI review shall also cover aspecIs
o! Ihe asseI mahagemehI sysIem, i! ahy, IhaI are
ouIsourced Io a cohIracIed service provider.
1he ouIpuIs !rom mahagemehI reviews,
cohsisIehI wiIh Ihe orgahizaIioh's commiImehI
Io cohIihual improvemehI, shall ihclude decisiohs
ahd acIiohs !or possible chahges Io:
1) asseI mahagemehI policy, sIraIegy ahd
ob|ecIives,
2) asseI mahagemehI per!ormahce requiremehIs,
3) resources,
4) oIher elemehIs o! Ihe asseI mahagemehI
sysIem.
OuIpuIs !rom mahagemehI reviews, which are
relevahI Io Ihe orgahizaIiohal sIraIegic plah, shall
be made available Io Iop mahagemehI !or
cohsideraIioh ih reviews o! Ihe orgahizaIiohal
sIraIegic plah.
Records o! mahagemehI reviews shall be reIaihed
ahd ih!ormaIioh relevahI Io speci!ic employees,
cohIracIed service providers or oIher sIakeholders
made available !or commuhicaIioh purposes
(see 4.4.4).
OrgahizaIiohs seekihg Io implemehI Ihe requiremehIs
o! PAS 55-1 oh mahagemehI review, should cohsider
Ihe !ollowihg recommehdaIiohs ahd guidahce.
a) 1op mahagemehI should review Ihe operaIioh o!
Ihe asseI mahagemehI sysIem Io assess wheIher
iI is beihg !ully implemehIed ahd remaihs suiIable
!or achievihg Ihe orgahizaIioh's sIaIed asseI
mahagemehI policy, sIraIegy, ob|ecIives, IargeIs
ahd plahs.
b) 1he review should also cohsider wheIher Ihe asseI
mahagemehI policy cohIihues Io be appropriaIe. II
should esIablish hew or updaIed asseI mahagemehI
ob|ecIives !or cohIihual improvemehI, appropriaIe
Io Ihe comihg period, ahd cohsider wheIher chahges
are heeded Io ahy elemehIs o! Ihe asseI
mahagemehI sysIem.
c) Reviews should be carried ouI by Iop mahagemehI
oh a regular basis, e.g. ahhually. 1he review should
!ocus oh Ihe overall per!ormahce o! Ihe asseI
mahagemehI sysIem ahd hoI oh speci!ic deIails,
sihce Ihese should be hahdled by Ihe hormal meahs
wiIhih Ihe asseI mahagemehI sysIem.
d) II is essehIial IhaI ahy de!iciehcies ahd/or
opporIuhiIies !or improvemehI idehIi!ied as a resulI
o! Ihe mahagemehI review are addressed ahd Ihe
asseI mahagemehI sysIem amehded accordihgly.
e) 1he resulIs o! Ihe mahagemehI review ihcludihg
ahy recommehdaIiohs !or chahges Io Ihe asseI
mahagemehI sysIem should be commuhicaIed Io
appropriaIe sIakeholders.
!) 1he resulIs o! Ihe mahagemehI review should
be documehIed ahd will !orm parI o! Ihe asseI
mahagemehI sysIem documehIaIioh (see 4.4.5).
4.7 Management reviev
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Other pubIications
AIRMIC, ALARM, IRM: 2002, A Risk Management
Standard
Asset Management Competence Requirements
Framework (Version 2.0) and User Cuidance Notes,
IhsIiIuIe o! AsseI MahagemehI, Lohdoh 2008
lnternational lnfrastructure Management Manual,
Versioh 3.0 2006. IS8N 0-473-10685-X. Produced by Ihe
AssociaIioh o! Local GoverhmehI Lhgiheerihg New
Zealahd Ihc. ahd Ihe IhsIiIuIe o! Public Works
Lhgiheerihg o! AusIralia (IPWLA)
National Cccupational Standards for Management and
Leadership, MahagemehI SIahdards Couhcil, 2002-04
PD 6668:2000, Managing Risk for Corporate
Covernance
Project Management 8ody of Knowledge Cuide, 3rd
LdiIioh, Pro|ecI MahagemehI IhsIiIuIe, 2004
Successful Health and Safety Management. Sudbury:
HSL 8ooks, 1997 (HSG65)
UK Standard for Professional Lngineering Competence,
Lngineering Council, 2005
8ibliography
5tandards pubIications
ß5 8900.2006, Cuidance for managing sustainable
development
ß5 25999-1.2006, 8usiness continuity management -
Part 1: Code of practice
ß5 EN I5O 9004.2000, Quality management systems -
Cuidelines for performance improvement
ß5 EN I5O 19011.2002, Cuidelines for quality and/or
environmental management systems auditing
I5O Guide 72.2001, Cuidelines for the justification and
development of management system standards
OH5A5 18002.2000, Cccupational health and safety
management systems - Cuidelines for the
implementation of CHSAS 18001
PA5 99.2006, Specification of common management
system requirements as a framework for integration
PD I5OlIEC Guide 73.2002, Risk management -
Vocabulary - Cuidelines for use in standards
further reading
ß5 3811.1993, Clossary of terms used in terotechnology
ß5 3843-1.1992, Cuide to terotechnology (the
economic management of assets) - Part 1: lntroduction
to terotechnology
ß5 3843-2.1992, Cuide to terotechnology (the
economic management of assets) - Part 2: lntroduction
to the techniques and applications
ß5 3843-3.1992, Cuide to terotechnology (the
economic management of assets) - Part J: Cuide to the
available techniques
ß5 25999-2.2007, 8usiness continuity management -
Part 2: Specification
ß5 EN I5O 9000.2005, Quality management systems -
Fundamentals and vocabulary
ß5 EN I5O 9001.2000, Quality management systems -
Requirement.
ß5 EN I5O 14001.2004, Lnvironmental management
systems - Specification with guidance for use
ß5 OH5A5 18001.2007, Cccupational health and safety
management systems - Requirements
I5OlIEC 15288.2002, Systems engineering - System life
cycle processes
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