PAS 55

As part of a globalized world, our need to improve from efficacy to efficiency has increased when related to asset management and that is the reason why we decided to become experts in PAS 55 methodology. We focus in the asset improvement during its whole productive life, looking at several opportunities to enhance this asset lifetime at the most and, in order to do so, the best methodology indicated nowadays is the one from PAS 55. So we can understand better this methodology, we have to have a good holistic vision of the company, it means that we have to look at it as a whole, by this vision, we will be applying a systematic approach, working each part of the asset selection as if it is a one single piece. All the actions should be executed focusing on the risk that the asset or the asset selection represents to the entire system. After implementing this, we initiate the optimization analysing more soundly the risk associated costs that the asset or the selection provides to the company at large. For the company to work sustainably, we should, provide conditions for the future using this methodology, which means, always work towards excellence.

The main asset to be managed is the physical one, but this is influenced by other 4 types of assets which are divided in: human, informational, intangible, and financial.

The key benefits of the optimized management of asset life cycle, with no defined order, include:

• Enhancing customer's satisfaction performing in an improved way and controlling the product or service delivery in conformance to required standards;
• Safety, Health, and Environmental improved solutions;
• Optimized growth and/or return on investments;
• Long term planning, performance sustainability and confidence;
• Ability to show the best purchase within a restrict budget;
• Evidence, as systematic and controlled processes in order to demonstrate statutory, regulatory and legal conformance;
• Improved risk and corporative governance management and a clear audit to adjust decision making and the associated risks;
• Corporative reputation enhanced benefits that include increasing the value for the stakeholder, improving negotiability for products/services, meeting and exceeding client's expectations, and more effective and efficient purchase process in the supply chain;
• Ability to demonstrate that the sustainable development is actively considered within asset management over their life cycles.

Such benefits enable the company to work a sustainable growth and all this structure is achieved by the implementation and maintenance of the basic principles of PAS 55.

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