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ISO 55000 & PAS55; Asset Management Quality Systems

ISO 55000

Stratum’s asset management solution is firmly rooted in PAS 55, ISO 14224, and the forthcoming ISO 55000 asset management standard.

Standards are an important part of our solution. Building on tried and proven methods accelerates the implementation process and realization of value.

What is PAS 55? PAS (Publically Available Specification) 55 is the global standard for the optimal management of physical assets. PAS 55 provides the definition of good practice in the life-cycle management of assets. Developed in 2004 by the British Standards Institute (BSI) and the Institute of Asset Management (IAM), PAS 55 has swiftly become the de facto worldwide standard for any organization seeking to demonstrate a high level of professionalism in the whole life management of its physical assets. Compliance with the PAS 55 standard is now required in many industrial sectors in the U.K.

Des Moines Wastewater Reclamation Authority  is one of the first organizations in the U.S. to achieve PAS 55 certification. Click here to review their press release. 

Worldwide adoption of PAS 55 has led the International Standards Organization (ISO) to create a working group (ISO TC 251) to convert PAS 55 into a global standard (ISO 55000) by early 2014. ISO 55000 will be a continuation of the PAS 55 journey.  Stratum Consulting Partners is a member of the ISO US Technical Advisory Group, and along with other top asset management organizations, is aiding in the PAS 55 to ISO 55000 conversion process.

What will this new standard do for you?

  • Improve capital planning, better sustainability and performance
  • Improve health, safety, environmental and operational performance
  • Enhance customer satisfaction from improved performance and service delivery
  • Optimize return on investment
  • Improve risk management and corporate governance

Your organization can take advantage of these benefits through a ‘gap analysis’ of your operations against PAS 55 requirements. Your gap analysis identifies improvement opportunities and builds these opportunities into a prioritized, comprehensive improvement plan. Contact us to see how a PAS 55 Gap Analysis can place your asset management operation on the path to improvement.

Stratum is a certified PAS 55 Endorsed Assessor (EA) and a member of the Institute of Asset Management (IAM), delivering PAS 55 gap analysis, alignment, and accreditation services.Whether your organization is seeking certification, or alignment with globally accepted asset management standards, we are here to help.

PAS55, ISO 14224 and ISO 55000 bring structure, data and focus to chaotic asset management operations. Contact us to learn more about how PAS 55 and ISO standards can help your asset management operation improve.