PAS 55: Asset Management System as Key Player in Business’ Growth

Asset Management SystemIt is a fact that streamlined processes along with an even distribution of tasks contribute to an organisation’s growth. This is evident in the way emphasis is given on maintenance software. This is to keep an organised database of collected information updated as well as monitored.

The British Standards have published that PAS 55 be initiated and distributed as a general guideline on asset management. An expert from Mainpac explains that PAS 55 provides objectivity on aspects of good management. Through this, the lifecycle of assets is recognised and integrated into an organisation. The lifecycle of the asset begins with the recognition of its necessity until the regular maintenance and eventual disposal. It is also through PAS 55 that a common language for multi-function, as well as the framework for seeing different aspects as a whole and not as an independent part, is achieved. By seeing everything as a part of a whole, larger picture, the need to handle and optimise them is recognised.

The standard can be divided into two parts: Specification for the management of physical assets and guidelines for application of PAS 55-1. The first part establishes the significance of an asset management system to monitor the physical assets all throughout its life cycle. By applying PAS 55, an organisation will be able to come up with an organised way of maintaining the physical assets to its maximum usage function. In general, Part 1 of PAS 55 includes concepts and ideas on maintaining physical assets. Part 2 of PAS 55, on the other hand, involves putting the asset management processes into motion.

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It is a fact as well that properly-maintained physical assets such as computers and office equipment help any organisation, no matter the scale, to achieve its daily quota. Having maintenance on a daily basis can also save the organisation from unplanned expenses with repair and replacement of equipment.