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The Facts

Management, transparency, value – Making the most of Your assets

Every day, we use a range of facilities that make our modern way of life possible, from living and working to travel and recreation. Because railways, roads, buildings, factories, energy networks and water systems have great functional, economic and social value, it’s vital that these assets are managed sustainably.

 

Professional management of these assets through our seven elements can bring improvements to safety, quality and overall performance. That means lower risks and higher value returns to your organisation and your customers.

Why asset  management matters

Asset management represents the coordinated activities every organisation must take release the value from its assets while meeting its objectives. With focus, organisations can utilise their assets more efficiently leading to better performance, lower risks, while avoiding the wastage of resource.

In fact, there are significant revenues to be gained by considering the lifetime value of your asset. Maximising asset up-time of and de-risking products can make significant contributions.

What is regarded as value or valuable, depends on your strategic business objectives, the nature and purpose of your organisation as well as the needs and expectations of its stakeholders.  But how do you release the value in your assets while trying to achieve these strategic  objectives?

 

Royal HaskoningDHV can help you do both, through our tried and tested approach to asset management. Our experience is based on an extensive track record of successfully completed projects across a number of industries. We are there where you need us most – globally, nationally, and locally

 

PAS55 and ISO55000 – why have two standards?

To start with, both are recognised standards for professional asset management.

However, while the focus of PAS55 is solely on physical assets, it recognises that there can be dependencies and impacts on other types of assets too. ISO 55001 is just as applicable to physical assets as PAS55, but the definition of an asset is extended to cover anything that has potential or actual value to an organisation. That value can be financial or non-financial and may vary between different organisations. This means that intangible assets such as software and intellectual property can also be managed in a way that meets recognised asset management standards.

 

AssetOwner-ServiceProvider-AssetManagerThis broader definition leads to some simplified terms and definitions. Under ISO 55001, asset management itself now just becomes the ‘coordinated activity of an organisation to realise value from asset’. In contrast, PAS55 defines asset management as the ‘systematic and coordinated activities and practices through which an organization optimally and sustainably manages its assets and asset systems…’.

To find out more, read Geert Fuchs‘ excellent blog article in the Expert Blog Spot.