PAS 55 (Publicly Available Specification)

PAS 55 is a publicly available specification that provides a framework for managing physical assets effectively. It offers guidelines to organizations for improving the performance, reliability, and efficiency of their assets, such as equipment and infrastructure. By following PAS 55, companies can better align their asset management practices with their overall business goals, reduce risks, and lower costs. The standard emphasizes a systematic approach, ensuring that all aspects of the asset lifecycle are considered, from planning and acquisition to operation and maintenance. Ultimately, it helps organizations create more value from their assets.