Services to the

energy sector

Publicly Available Specification

(PAS 55)
Asset management is a key aspect of good business management; the planning,
implementation and performance management of assets over their lifecycle to
ensure the business achieves its corporate objectives.
It was recognised that a common approach to, and understanding of, Asset
Management was required. Lloyd's Register made a joint proposal with the Institute
of Asset Management to the British Standards Institution for a Publicly Available
Specification (PAS) addressing Asset Management.

PAS 55 Requirements (Part 1) and Key Enablers

High level corporate
COMPANY GOVERNANCE DOCUMENTS
Memorandum, Articles, Charter direction and control
Guidance (Part 2) were initially published Successful implementation of a PAS 55
by BSI in May 2004, and subsequently compliant AM system is dependent upon
revised in 2008 with the assistance of 49 a number of key enablers including:
ORGANISATIONAL STRATEGIC PLAN organisations from 15 industries in 10
• senior management buy-in and
Must establish connection countries.
support
Publicly Available between top management
Specification 55 Structure of PAS 55 • understanding of strategic aims and
and the asset base
PAS 55 was developed based upon the how the asset base contributes to
Asset Register Asset Targets Asset Condition ISO management systems Plan Do Check their achievement
Asset base and
associated Act approach. It built on the structure of
existing standards to ease understanding • understanding and management of all
processes
ASSETS
and adoption. The structure and content asset related risks
allows existing management processes • ability to define, collect and use the
to be adopted in the PAS 55 system correct information to inform AM
where appropriate, without necessarily decisions
requiring a clean sheet. • regular review and challenging of AM
Aims of PAS 55 related activities.
The challenge of Asset Management
(AM) is to align the performance of the
assets with the organisation's strategic
plan reflecting stakeholder requirements.
PAS 55 provides a framework in the
form of an AM System within which the
OSP, AM Policy, AM Strategy and
Objectives are translated into practical
objectives for the assets. These objectives
are subsequently achieved through the
implementation of compliant AM Plans.
Services to the
energy sector
Benefits of adopting PAS 55
• Properly implemented PAS 55 AM
systems:
Organisational
Strategic Plan • demonstrate to an organisation and
Asse tingency
its stakeholders that there is clear
Con
Asset Management
t Ma
Policy linkage between the controlling mind
of the organisation and the asset
nage Planning
Asset Management
Strategy
base ensuring sustainable asset
men
performance – and in turn that
t Pla
Asset Management
Objectives business objectives are met
ns
• ensure that stakeholder interests are
visibly managed
• provide a critical component of
corporate risk management regimes
• support funding requests and
business cases with clear evidence
and risk based technical and
commercial arguments
• provide assurance that asset
performance and condition objectives
are being met in practice.
Scope of services
We provide the following PAS 55 related
services:
• advice on Business Management
processes and approach , integrating
new requirements with existing
management systems, procedures and
processes
• training courses:
• PAS 55 Appreciation (1 Day) for
Senior Managers
• PAS 55 Practitioners (2 Days)
providing guidance to implementers
of AM Systems
Lloyd’s Register also provides verification
services including:
• gap analyses provide a cost effective
means of determining major gaps in
current management systems
• preliminary assessments provide
detailed assessment of targeted areas of
concern
• certification assessments provide a full
assessment of an organisation's AM
system against the requirements of PAS
55. If successful a Certificate of
compliance with PAS 55 is issued by
Lloyd’s Register Verification.
Benefits of using the Lloyd's Register
Group
The Lloyd's Register Group was a sponsor
and key contributor to the development of
PAS 55. As such, we are able to draw on a
detailed knowledge of the standard itself as
well as having a thorough understanding of
the guidance in PAS 55 Part 2. When this is
coupled with our work with PAS 55 in a
variety of sectors including Rail, Utilities, Oil
and Gas it enables our clients to gain
significant benefit from our Asset
Management expertise.
Recognising the need for assessment and
verification, the Lloyd's Register Group has
developed Asset Management Verification
processes based upon proven assessment
methods used by Lloyd's Register Group
members for other British and International
standards.
Services to the
energy sector

Example Projects
Lloyd’s Register Group member companies
have become world leaders in the provision
of PAS 55 services. Our member companies
have now certified in excess of 50
organisations around the world in a variety
of sectors including:
• National Grid UK
• EDF Energy Networks, UK
• Western Power Distribution, UK
• Enexis, Netherlands
• Wessex Water, UK
• ESB Networks, Ireland
• National Grid USA
• Envoy (part of Inexus), UK
• E.On Central Networks, UK
• ScottishPower Energy Wholesale (part of
Iberdrola Group), UK
• National Grid, LNG Terminal, UK
• British Energy (part of EDF Energy), UK
• Kowloon and Canton Railway
Corporation, Hong Kong

How can we help you?

If you would like to speak to a member
of our team to find out more about how
we can help you
call +44 (0)2476 518626
email utilities@lr.org
or visit www.lloydsregister.co.uk

November 2010
Services are provided by members of the Lloyds Register Group. For further details please see our website:www.lr.org/entitles