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- W645758737 abstract "Asset intensive corporate bodies, such as rail systems, need to manage their assets effectively to deliver the system benefits to their owners, customers, regulators and stakeholders. These businesses must have robust arrangements in place to assure themselves and others of both the sustainability and efficiency of their operations through their assets. Asset management done well is a cornerstone of a well-managed business. Whilst there have been many documents written on asset management practice, the publication of the PAS 55 standard in May 2004 has for the first time put forward a set of requirements for best practice asset management. The paper describes the essentials of asset management and how PAS 55 provides a best practice framework for a business to manage its assets. PAS 55 links business objectives through to the assets themselves, using a risk based approach to understand each asset's criticality to the business. By adopting PAS 55 an organisation can relate assets to the achievement of their goals. As well as the obvious benefits this brings to the Corporate Body's efficiency, the adoption of PAS 55 can help in satisfying owners, customers and regulators that the Body is using its scarce resources in the most effective way." @default.
- W645758737 created "2016-06-24" @default.
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- W645758737 date "2005-01-01" @default.
- W645758737 modified "2023-09-27" @default.
- W645758737 title "The benefits to operators, stakeholders and regulators of the new international standard PAS 55 as applied to rail asset management" @default.
- W645758737 hasPublicationYear "2005" @default.
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