Strategy Development – PAS55

The publicly available standard BSI PAS55 Asset Management was developed by The Institute of Asset Management (IAM) and is rapidly gaining recognition as the standard to identify asset management best practice.

The role of the IAM has been pivotal in promoting asset management practice and their ongoing work in the areas of competency and assessment will further advance knowledge and understanding. Advantica has recently been accepted as a Patron of the IAM in recognition of the contribution we can bring to its work.

With a heritage embedded in the support of asset management businesses, Advantica is ideally placed to assist asset intensive companies realise real value from their asset management system. Our approach is to work with your existing team, leading them through a structured gap analysis process to ensure understanding, buy-in and ownership of the action plan needed to close any gaps identified.

Advantica has built a portfolio of services to help organisations achieve PAS55 certification and realise the business benefits which come from the application of best practice ‘cradle to grave’ asset management practice. Based on our experience, Advantica has developed a 5 stage approach to PAS55 certification:

• Awareness and buy-in
• Gap analysis
• Preliminary assessment
• Stage 1 assessment
• Stage 2 assessment

The final two stages involve the Certification Body and form part of the formal certification process.