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PAS 55-1

PAS 55-1 v2.0 1 of 24 © BSI May 2003

Asset management

Part 1: Specification for the optimized management of physical

infrastructure assets

WARNING: THIS IS A DRAFT AND MUST NOT BE REGARDED OR USED AS A

BRITISH STANDARD

This draft is issued to allow comments from interested parties.

No copying is allowed, in any form, without written permission from BSI except as permitted

under the Copyright, Designs and Patent Act 1988 or for circulation within a participating

organization for briefing purposes. Electronic circulation is limited to dissemination by email

within such an organization.

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Acknowledgement

The development of this Asset Management Publicly Available Specification (PAS) has been

led by the Institute of Asset Management (IAM), with the assistance of the following

co-operating organizations and individuals:

Sponsors and Review Panel

AWG plc

FaberMaunsell Ltd

Lloyd’s Register

LogicaCMG plc

London Power Networks plc

National Grid Transco plc

Northumbrian Water plc

Network Rail

Severn Trent Water plc

The Woodhouse Partnership LtdYorkshire Electricity Group

In addition to the above, representatives of the following organizations were also part of the

review panel and steering committee for the development of this PAS:

CIPFA (The Chartered Institute of Public Finance and Accountancy)

DfT (Department for Transport)

Halliburton KBR

Health & Safety Executive

Interbrew

London Underground Ltd

Ministry of Defence (Defence Logistics Organisation)

Ofgem (The Office of Gas and Electricity Markets)

OFWAT (The Office of Water Services)

ORR (Office of the Rail Regulator)

UK National Air Traffic Services Ltd

Co-ordinating and Drafting Group and their responsibilities

John Woodhouse Project chairman

David Ford Project secretary and contractual matters

Martin Cottam Technical issues

Moss Mustafa Producing draft and subsequent revisions

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ContentsPage

Acknowledgement 2

Foreword 4

0 Introduction 50.1 What is asset management? 5

0.2 Compatibility with other standards 7

1 Scope 10

2 Normative references 10

3 Terms and definitions 10

4 Asset management system elements 13

4.1 General requirements 13

4.2 Asset management policy and strategy 13

4.3 Asset management information, risk assesment and planning 15

4.4 Implementation and operation 18

4.5 Checking and corrective action 21

4.6 Management review 23Bibliography 24

Figure 1 — Scope and vital business context of this AM PAS in relation to the other critical

business assets 7

Figure 2 — The relationship between the AM system, the organizational strategic plan and

stakeholders 9

Figure 3 — Asset management system elements 13

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Foreword

This Asset Management Publicly Available Specification (PAS) has been developed in

response to demand from industry for a standard for carrying out asset management (AM). It

is applicable to any organisation where physical assets are a key or critical factor in achieving

its business objectives and in achieving effective service delivery.

As a response to this level of interest, the decision to develop a formal reference document for

asset management as a PAS, rather than a traditional BS or ISO standard, was taken in order to

meet this demand at the earliest opportunity.

To ensure consistency with other related business system standards and to facilitate its

alignment or integration, it was considered that AM would be best standardised as a

specification, with the information on implementing AM being distilled into key requirements.

The criterion for including such requirements has been that, without them, the AM system

would be regarded as deficient.

This PAS has been based on the familiar ISO/BS format comparable with widely adopted

standards such as ISO 14001 and OHSAS 18001.

This approach helps to facilitate the conversion of this PAS into an ISO or BS if there were amarket requirement to do so. A further benefit of this approach is that it enables organizations

to more readily assess their AM systems, in a similar manner to assessments using existing

BS/ISO management systems e.g. ISO 14001.

This PAS is published in two parts:

- Part 1: Specification for the optimized management of physical infrastructure assets;

- Part 2: Guidelines for the application of PAS 55-1. Consultation

This PAS has been developed in consultation with a large number of major organizations and

individuals that are active and proficient in the field of asset management (see

acknowledgement). It has also been made widely available for general public comment.

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0 Introduction

0.1 What is asset management?

Asset Management is simply "the best overall way of managing assets to achieve a desired

and sustainable outcome".

The practice is surprisingly modern and it has roots in many disciplines, practices, industries

and countries. Much of its value stems from the universal and unifying principles on which it

is founded and this has enabled it to be increasingly applied across a wide range of industries

and organizations covering assets as diverse as financial portfolios, digital data, public utility

networks and oil production/processing.

As the application of asset management has evolved, its focus and usage has varied

considerably, not only between different industries, but also between organisations within the

same industry. The development of this PAS is a reflection on the level of maturity that its

application is reaching in some sectors where the need for common specifications and

standards is recognised.

With a subject that has such a wide application, it is necessary to set out the scope and context

in which any standard for asset management is intended to apply.

This PAS is specifically intended to cover:

the management of physical infrastructure assets (hereinafter referred to as asset(s)

see 3.1), and in particular the assets that form the main element of our built

environment such as utility networks, power stations, railway systems, oil and gas

installations, manufacturing and process plant, buildings, airports, etc.

asset management from an organisational perspective. It is intended to apply in cases

where an organization is primarily dependent on the function of its assets in the

delivery of services or products, and where the success of an organization is

significantly influenced by the stewardship of the assets. In such cases, a formal

approach to asset management will contribute directly to the business capability and

performance of the organisation.

The objective of asset management in this context is to ensure (and to be able to demonstrate)

that the assets deliver the required function and level of performance in terms of service or

production (output), at an optimum whole-life cost without compromising health, safety,

environmental performance, or the organization’s reputation. For the purposes of this PAS,

asset management is defined as:

“systematic and coordinated activities and practices through which an organizationoptimally manages its physical assets, and their associated performance, risks and

expenditures over their lifecycles for the purpose of achieving its organizational

strategic plan” (see 3.3),

and organizational strategic plan is defined as:

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“the overall long-term action plan for the organization that is derived from and

embodies its vision, mission, values, business policies, objectives and the management

of its risks” (see 3.12).

The principal benefits of asset management are:

enhanced customer satisfaction from improved reliability and control of product orservice delivery to the required standards;

improved health, safety and environmental performance;

optimized return on investment and/or growth through efficient stewardship of

assets;

ensured, and ability to demonstrate, best value for money within a constrained

funding regime;

evidence, in the form of controlled and systematic processes, to demonstrate legal,

regulatory and statutory compliance;

improved risk management and Corporate Governance, and a clear audit trail for

the appropriateness of decisions and risks taken;

improved corporate image, the benefits of which may include enhanced

shareholder value, improved marketability of product/service, greater staff

satisfaction and more efficient and effective procurement from the supply chain.

The management of the “physical assets” is only one part of the five broad categories of assets

that have to be managed collectively in order to achieve the organizational strategic plan.

These other categories include: human assets, information assets, intangible (reputation etc)

assets and financial assets. The scope of this PAS has been limited to "physical infrastructure

assets". Nonetheless, the management of “physical assets” is inextricably linked to these other

categories of assets, but within this PAS they are only considered where they have a direct

impact on the optimized management of the “physical assets”. The scope of this PAS in

relation to the other critical categories of assets is illustrated in Figure 1. Figure 2 provides an

illustration of the relationship between the AM system, the organizational strategic plan andstakeholders. Figure 3 illustrates the asset management system elements specified in this

PAS.

It should be noted that although aspects of human factors such as leadership, motivation and

culture are out with the scope of this PAS, they are critical to the successful achievement of

asset management and require due consideration. This is applicable to the organization’s

managers, employees, contractors and suppliers.

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The model adopted in the PAS is of a coherent and interconnected set of activities and

procedures which collectively constitute the PDCA cycle with continual improvement being

an integral part of that cycle.

The requirements can be met by adopting a procedure based approach as used in the text. Note

that procedures may or may not be documented. Many procedures can be simply written as

descriptions of processes and, taken together with other elements of the system, such asdefined responsibilities and authorities, trained and competent personnel, etc. provide the

control required to meet the needs of the organization. It is also important to note that the

requirements of this PAS are prescriptive only to the extent that they define what has to be

done. The PAS does not define how they are to be done. That is for the organization to

determine according to their assessed needs.

The requirements of this PAS can also be met by organizations adopting a process approach.

ISO 9001:2000 promotes the concept of a quality management system consisting of activities

which may be managed most effectively when organized as interacting processes.

This specification would enable an organisation to align or integrate its asset management

system with related management systems.

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1 Scope

This part of PAS 55 specifies the requirements for an asset management system for

physical infrastructure assets including components thereof e.g. generators, pumps,

rolling stock, etc. The management of physical infrastructure assets is inextricably

linked to the management of all other aspects of a business. These other aspects areonly considered where they have a direct impact on the management of physical

infrastructure assets.

PAS 55 is not applicable to the management of other assets such as reputation,

knowledge, finance, etc.

This AM PAS is applicable to all sizes of business, from small to medium enterprises

through to multinationals and to any organization that wishes to:

a) implement, maintain and improve an asset management system;

b) assure itself of its conformance with its stated asset management policy;

c) demonstrate such conformance to others;

d) seek certification/registration of its asset management system by an external

organization;

e) make a self-determination and self-declaration of conformance with this asset

management PAS.

2 Normative references

There are no normative references at present.

3 Terms and definitions

For the purposes of this AM PAS, the following terms and definitions apply.

3.1

asset(s)

physical infrastructure, plant, machinery, property, buildings and other non-

consumable items and related systems that have a distinct and quantifiable business

function or service

NOTE This definition reflects the scope of this PAS.

3.2

asset management

systematic and coordinated activities and practices through which an organization

optimally manages its physical assets, and their associated performance, risks andexpenditures over their lifecycles for the purpose of achieving its organizational

strategic plan

3.3

asset management objective

specific outcome or achievement required of assets, asset types and/or asset system(s)

in order to achieve the asset management strategy

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NOTE It is essential that such outcomes are linked either directly or indirectly to providing the

products or services delivered by the total business to its customers or end users.

3.4

asset management policy

overall intentions and direction of an organization, related to the assets and the

framework for the control of asset related processes and activities, that are derived

from and consistent with the organizational strategic plan

3.5

asset management strategy

overall long-term action plan for the assets, asset types and/or asset system(s) that is

derived from and consistent with the asset management policy and organizational

strategic plan

3.6

asset performance/condition target

specific level of performance or condition required of the assets, asset types and/or

asset system(s) in order to achieve the asset management objective

3.7

asset system

set of assets that interact and/or are interrelated so as to deliver a required business

function or service

3.8

critical assets

safety-critical, environment-critical and/or performance-critical assets (or sub set

components thereof) that are identified as being critical (now or in the future) to

achieving the asset management policy, strategy and objective including legal,

regulatory and/or statutory requirements

3.9

information

data in context

3.10

infrastructure

system of core assets, facilities and/or equipment

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3.11

life cycle

time interval that commences with the identification of the need for an asset and

terminates with the decommissioning of the asset or any liabilities thereafter

3.12

optimizeachieve by a quantitative, or qualitative method as appropriate, the best value

compromise between conflicting factors such as performance, costs and retained risk

within any non-negotiable constraints

Note: “within constraints” does not absolve the organization from meeting all of the requirements ofthis specification e.g. insufficient resources to achieve an AM requirement would not be considered to

be a valid constraint.

3.13

organizational strategic plan

the overall long-term action plan for the organization that is derived from and

embodies its vision, mission, values, business policies, objectives and the

management of its risks

NOTE Some organization’s call this a Corporate plan, Corporate Strategic Plan, Business Plan, etc.

3.14

stakeholder

person or group having an interest in the organization’s performance, success or the

impact of its activities

NOTE 1 Examples include customers, shareholders, financiers, regulators, statutory bodies,

employees, contractors, suppliers, unions, or society.

NOTE 2 A group can comprise an organization, a part thereof, or more than one organization.

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4 Asset management system elements

Figure 3 — Asset management system elements

4.1 General requirements

The organization shall establish, document, implement and maintain an asset

management system and continually improve its effectiveness in accordance with the

requirements set out in clause 4.

The organization shall define the scope of its asset management system.

Where an organization chooses to outsource any process that affects conformity withthese requirements, the organization shall ensure control over such processes. Control

of such outsourced processes shall be identified within the asset management system.

4.2 Asset management policy and strategy

4.2.1 Asset management policy

The organization’s top management shall authorize an overall asset management

policy.

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The policy shall:

a) be derived from and be consistent with the organizational strategic plan;

b) clearly state the overall/broad asset management objectives;

c) include a commitment to continual improvement of the asset management process;

d) be visibly endorsed by top management;

e) clearly state that asset management shall be directed to achieve the

organizational strategic plan;

f) provide the framework which, together with the organizational strategic

plan, enables specific asset management objectives, targets and plans to be

produced;

g) be consistent with the organization’s overall risk management framework;

h) be appropriate to the nature and scale of the organization’s assets and

operations;

i) include a commitment to at least comply with current applicable legislation,

regulatory and statutory requirements and with other requirements to which

the organization subscribes;

j) be documented, implemented and maintained;

k) be communicated to all relevant employees and relevant third parties

including contractors with the intent that these persons are made aware of

their individual asset management-related obligations;

l) be available to stakeholders where appropriate;

m) be reviewed periodically to ensure that it remains relevant and consistent

with the organizational strategic plan.

Note: There may also be functional asset management policies for the key asset management relatedtasks to provide guidance to managers and a clear framework in which decisions can be made e.g.

policy for capital investment.

4.2.2 Asset management strategy

The organization shall establish and maintain a long-term asset management strategy.

The strategy shall:

a) be derived from and be consistent with the asset management policy and the


b) identify and clearly state the function(s) and performance requirements of its

assets, asset types or asset systems as appropriate. These function(s) and

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performance requirements shall include the consideration of the provision of

service(s) and/or products to its customers. It shall also identify and

consider the requirements of all other relevant stakeholders including health,

safety and environmental performance requirements;

c) take account of the risk assessment (see 4.3.2) and shall identify those assets

or asset systems that are critical;

d) be optimized;

e) provide sufficient information and direction including an action plan with

defined timescales and responsibilities to enable effective asset management

objectives, targets and plans to be produced;

f) consider the lifecycle of the assets, asset types or asset systems;

g) be reviewed periodically to ensure that it remains effective and consistent

with the asset management policy and organizational strategic plan. Where

necessary the strategy shall be amended accordingly.

4.3 Asset management information, risk assessment and planning

4.3.1 Asset management information system

The organization shall establish and maintain an asset management information

system(s). The system(s) shall be designed and maintained to provide adequate

support to the organization in meeting all of the requirements set out in clause 4 of

this specification. It shall include provision to support the development and

implementation/achievement of the asset management policy, strategy, risk

assessment and control, objectives, targets, plans. It shall also support all of the

requirements related to implementation and operation (see 4.4), checking and

corrective actions (see 4.5) and the managements review (see 4.6).

The system shall be accessible to all relevant employees and other relevant third

parties including contractors as appropriate.

Where separate asset information management systems exist, the organization shall

ensure that the support provided by these systems is consistent with each other.

Note: The asset management information system(s) is essential for all of the plan, do, check and act,

requirements contained within clause 4 of this PAS but is not repeated for the sake of clarity.

4.3.2 Risk identification, assessment and control

The organization shall establish and maintain procedures for the ongoing

identification of asset or asset management related hazards, failures and potentiallosses, the assessment of their risks and the identification and implementation of

necessary control measures.

The risk assessments shall consider the probability of an event and all of its

consequences and shall include:

a) physical failure risks, such as functional failure, accidental, malicious damage

or terrorist action;

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b) operational risks, including the control of the asset, human factors and all other

activities which affect its performance, condition or safety;

c) natural environmental events (storm, floods, etc.);

d) factors outside of the organisation’s control, such as failures in externally

supplied materials and services;

e) stakeholder risks, such as failure to meet regulatory performance requirementsor reputation damage;

f) Asset related design, specification, procurement, construction, installation and

de-commissioning risks as appropriate.

The organization shall ensure that the results of these assessments, and the effects of

these controls, are considered when setting its asset management objectives and

targets. The organization shall document and keep this information up to date.

The organization’s methodology for hazard identification and risk assessment shall:

1) be defined with respect to its scope, nature and timing to ensure it is proactive

rather than reactive;

2) include, where appropriate, the assessment of how risks change or may change

over time and usage;

3) provide for the classification of risks and identification of those that are to be

avoided, eliminated or controlled by asset management objectives, targets and

plans (see 4.3.4 , 4.3.5and 4.3.6);

4) be consistent with the organization’s operating experience and the capabilities

of risk control measures employed;

5) provide input into:

i. the asset management strategy;

ii. the determination of requirements for the design, specification, procurement, inspection, monitoring, maintenance, refurbishment and

replacement of assets;

iii. identification of adequate resources including staffing levels;

iv. identification of training needs and skills (see 4.4.2);

v. development of operational controls (see 4.4.6);

vi. the organization’s overall risk management framework;

6) provide for the monitoring of required actions to ensure both the effectiveness

and the timeliness of their implementation (see 4.5.1).

4.3.3 Legal, regulatory, statutory and other asset management requirements

The organization shall establish and maintain a procedure for identifying and

accessing the legal, regulatory, statutory and other asset management requirements

that are applicable to it.

The organization shall keep this information up-to-date. It shall communicate relevant

information on legal and other requirements to its employees and other relevant third

parties including contractors.

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4.3.4 Asset management objectives

The organization shall establish and maintain documented asset management

objectives at each relevant function and level within the organization. The objectives

shall be derived from and be consistent with the asset management strategy.

When establishing and reviewing its objectives, an organization shall consider its:

a) legal, regulatory, statutory and other requirements;

b) asset related risks;

c) technological and other options;

d) financial, operational and business requirements;

e) the views of appropriate stakeholders.

The objectives shall:

1. be consistent with the organization’s commitment to continual improvement;

2. be quantified (where practicable);

3. be communicated to all relevant employees and relevant third parties includingcontractors with the intent that these persons are made aware of their

individual obligations;

4. be reviewed periodically to ensure that they remain relevant and consistent

with the asset management strategy. Where necessary the objectives shall be

amended accordingly.

4.3.5 Asset performance/condition targets

The organization shall establish and maintain documented performance and/or

condition targets appropriate to the needs of the organization. The targets shall be

derived from and be consistent with the asset management objectives.

These targets shall be:

a) optimized to an appropriate level of detail;

b) specific, measurable, achievable, relevant and time-based (where practicable);

c) communicated to all relevant employees and relevant third parties including

contractors with the intent that these persons are made aware of their

individual obligations;

d) be reviewed periodically to ensure that they remain relevant and consistent

with the asset management objectives. Where necessary the targets shall be

amended accordingly.

NOTE Performance targets can be set for individual assets, asset types and/or asset system(s).

4.3.6 Asset management plans

The organization shall establish and maintain asset management plans for achieving

its asset management strategy, objectives and targets including design, capital works,

maintenance, decommissioning, availability of spares and work delivery plans.

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The plans shall be optimized and prioritized and the organization shall provide for the

effective and efficient delivery of these plans.

This shall include documentation of:

a) the designated responsibility and authority for achievement of objectives and

targets at relevant functions and levels of the organization;

b) the means and time-scale by which objectives are to be achieved.

The asset management plans shall be reviewed periodically to ensure that they remain

effective and consistent with the asset management strategy, objectives and targets.

Where necessary the plans shall be amended accordingly.

NOTE Asset management plans can be for individual assets, asset types and/or asset system(s).

4.4 Implementation and operation

4.4.1 Structure, authority and responsibilities for asset management

The organization shall establish and maintain an organizational structure of roles,

responsibilities and authorities, consistent with the achievement of its asset

management policy, strategy, objectives, targets and plans.

These roles responsibilities and authorities shall be defined, documented and

communicated to the individuals.

NOTE There is no need to establish a separate organizational structure provided the organization’s

existing structure is consistent with achieving the requirements set out in clause 4.

Top management shall provide evidence of its commitment to the development and

implementation of the asset management system (processes) and continually

improving its effectiveness by:

a) appointing a member of top management who, irrespective of other

responsibilities, shall be responsible for the overall design, maintenance,

documentation and improvement of the organization’s asset management

system (processes);

b) appointing a member(s) of management whose responsibility it is to ensure that

the assets or group of assets forming an asset system or business unit deliver the

expectations set out by top management and who has/have been given the

necessary authority to achieve this;

c) identifying and monitoring the requirements and expectations of all of the

organization’s stakeholders and taking appropriate and timely action, to the

extent that these have implications for the organizations management of its

assets;

d) ensuring that the asset management policy and strategy are consistent with the


e) ensuring the availability of adequate resources;

f) considering the adverse impact that the asset management policy, strategy,

objectives, targets, plans, etc. may have on other aspects of the organization.

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Conversely, considering whether other aspects of the organization may have an

adverse affect on asset management;

g) communicating to the organization the importance of meeting its asset

management requirements in order to achieve its organizational strategic plan;

h) ensuring asset related risks are evaluated and included in organizational risk

assessments and risk registers as appropriate;i) ensuring the viability of the asset management strategy, objectives, targets and

plans.

4.4.2 Training awareness and competence

The organization shall ensure that personnel responsible for physical infrastructure

assets are appropriately qualified in terms of education, training and/or experience.

The organisation shall establish and maintain procedures to ensure that its employees

or any relevant third parties including contractors working at each relevant function

and level are aware of:

a) the importance of conformance to the asset management policy and procedures,

and to the requirements of the asset management system;

b) their roles and responsibilities in achieving conformance to the asset

management policy and procedures and to the requirements of the asset

management system (processes), including emergency preparedness and

response requirements;

c) the potential consequences of departing from specified operating procedures.

The organization shall consider its long-term training requirements and plan for them

accordingly.

4.4.3 Communication

The organization shall have procedures for ensuring that pertinent asset management

information is communicated to and from employees and other relevant stakeholders.

4.4.4 Documentation

The organization shall establish and maintain information, in a suitable medium such

as paper or electronic form, that:

a) describes the core elements of the management system (processes) and their

interaction;

b) provides direction to related documentation.

NOTE It is important that documentation is kept to the minimum required for effectiveness andefficiency.

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4.4.5 Document and data control

The organization shall establish and maintain procedures for controlling all documents

and data required by clause 4 of this specification to ensure that:

a) they can be located;

b) they are periodically reviewed, revised as necessary, and approved for adequacy

by authorised personnel;

c) current versions of relevant documents and data are available at all locations

where operations essential to the effective functioning of the asset management

system are performed;

d) obsolete documents and data are promptly removed from all points of issue and

points of use, or otherwise assured against unintended use;

e) archival documents and data retained for legal or knowledge preservation

purposes or both, are suitably identified;

f) they are secure and where in electronic form are adequately backed up.

4.4.6 Operational control

The organization shall identify those operations and activities that are necessary for

achieving:

a) the required function(s) and performance from its assets or asset systems;

b) its asset management objectives;

c) its performance targets;

d) the delivery of its asset management plans;

e) the control of identified risks.

The organization shall control these operations and activities in order to ensure that they

are carried out under specified conditions by establishing and maintaining documented

procedures to cover situations where their absence could lead to deviations from

achieving the above.

Where existing arrangements are revised, or new arrangements introduced, which couldimpact on asset management operations and activities, the organization shall consider

the associated risks before their implementation. The new or revised arrangements to

be considered shall include:

1. revised organisational structure, roles or responsibilities;

2. revised asset management policy, strategy, objectives, performance targets or

plans;

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3. revised processes and procedures;

4. introduction of new assets or technology;

5. introduction of a new contractor, supplier or personnel where appropriate.

4.4.7 Emergency preparedness and response

The organization shall establish and maintain plans and procedures to identify the

potential for, and responses to, incidents and emergency situations, and for preventing

and mitigating the likely consequences that can be associated with them. The plans and

procedures shall include information on the provision and maintenance of any identified

equipment, facilities or services that can be required during incidents or emergency

situations (for example, emergency pumps, generators, temporary shelters, access to

back-up information, etc.).

The organisation shall periodically review its emergency preparedness and response

plans and procedures, in particular after the occurrence of incidents or emergency

situations.

The organisation shall periodically test these procedures where practicable.

4.5 Checking and corrective action

4.5.1 Performance measurement and monitoring

The organization shall establish and maintain procedures to monitor and measure the

performance of the asset management system (processes) and the assets and/or asset

systems as appropriate considering the risks and potential deterioration mechanisms/

consequences. These procedures shall provide for:

a) both qualitative and quantitative measures, appropriate to the needs of the

organization;

b) monitoring of the extent to which the organization’s asset management policy,

strategy, objectives and targets are met;

c) proactive measures of performance that monitor compliance with the asset

management plans, operational criteria and applicable legislation, regulatory

and statutory requirements;

d) reactive measures of performance to monitor asset-related failures, incidents,

non-conformances (including near misses) and other historical evidence of

deficient asset management system (processes) performance;

e) recording of data and results of monitoring and measurement sufficient to

facilitate subsequent corrective and preventative action analysis.

If monitoring equipment is required for performance measurement and monitoring,

the organisation shall establish and maintain procedures for the calibration and

maintenance of such equipment. Records of calibration and maintenance activities

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and results shall be retained for sufficient time to comply with legislation and the

organization's policy.

4.5.2 Asset-related failures, accidents, incidents, non-conformances and corrective

and preventive action

The organization shall establish and maintain procedures for defining responsibilityand authority for:

a) the handling and investigation of asset-related:

i. failures or under performance;

ii. accidents, incidents;

iii. non-conformances;

b) taking action to mitigate any consequences arising from such failures,

incidents or non-conformances;

c) the initiation and completion of corrective and preventive actions;

d) confirmation of the effectiveness of corrective and preventive actionstaken.

These procedures shall require that all proposed corrective and preventive actions are

reviewed through the risk assessment process prior to implementation.

Any corrective or preventive action taken to eliminate the causes of actual and

potential non-conformances shall be appropriate to the magnitude of the problems and

commensurate with the asset management related risk encountered.

The organization shall implement and record any changes in the documented

procedures resulting from corrective and preventive action and shall include the

required training where necessary.

4.5.3 Records and record management

The organization shall establish and maintain procedures for the identification,

maintenance and disposition of asset management records, as well as the results of

audits and reviews.

Asset management records shall be legible, identifiable and traceable to the activities

involved. Asset management records shall be stored and maintained in such a way

that they are readily retrievable and protected against damage, deterioration or loss.

Their retention times shall be established and recorded.

Records shall be maintained, as appropriate to the asset management system(processes) and to the organization or to meet the legislative and regulatory needs, to

demonstrate conformance to clause 4 of this specification.

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4.5.4 Audit

The organization shall establish and maintain an asset management audit programme

and shall establish procedures for periodic asset management system (processes)

audits to be carried out, in order to:

a) determine whether or not the asset management system (processes):

i. conforms to planned arrangements for asset management including the

requirements of clause 4 of this specification;

ii. has been properly implemented and maintained;

iii. is effective in meeting the organization’s policy and objectives;

b) review the results of previous audits;

c) provide information on the results of audits to management.

The audit programme, including any schedule, shall be based on the results of riskassessments of the organisation’s activities, and the results of previous audits. The

audit procedures shall cover the scope, frequency, methodologies and competencies,

as well as the responsibilities and requirements for conducting audits and reporting

results.

Where possible, audits shall be conducted by personnel independent of those having

direct responsibility for the activity being examined.

NOTE The word “independent” here does not necessarily mean external to the organisation.

4.6 Management review and continual improvement

The organization's top management shall, at intervals that it determines, review theasset management system (processes), to ensure its continuing suitability, adequacy

and effectiveness. The management review process shall ensure that the necessary

information is collected to allow management to carry out this evaluation. This

review shall be documented.

The management review shall address the possible need for changes to policy, strategy,

objectives and other elements of the asset management system, in the light of asset

management system audit results, changing circumstances and the commitment to

continual improvement.

The organization shall acquire knowledge on new asset management related

technology and practices. This shall include new tools and techniques and their

evaluation and prioritizing for their potential application, including integration andsetting to work, within the organization, in the context of continual improvement.

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Bibliography

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BS EN ISO 14001:1996, Environmental management systems – Specification with

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management systems standards.

OHSAS 18001:1999, Occupational Health and Safety Management Systems -

Specification.

BS 3843:1992 Part 1, 2 and 3, Terotechnology.

BS 3811:1993, Terms used in Terotechnology.

HEALTH AND SAFETY EXECUTIVE, Successful health and safety management:

HSG65. ISBN 0 7176 1276 7. 1997. London: The Stationery Office.

BS EN ISO 9000:2000, Quality management systems – Fundamentals and

vocabulary.

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