Have you thought about the value of your business’s assets? Note that this isn’t just about your equipment or properties. It’s about things, items or entities that possess actual or potential value to your company. If you haven’t given them serious thought, you could be losing them or failing to put them to good use without realising how much they are truly worth to your organisational operations now and at the end of their usefulness to you. You could be driving a Formula One car to fetch your laundry and groceries.
Your coordinated activities that realise the value of these things, items or entities form the basis of your asset management. This is how you get the most out of what you have as an organisation, and benefitting from it maximally as well.
Publicly Available Specification
The British Standards Institution (BSI) has the Publicly Available Specification—or PAS 55—with the aim of optimising physical asset management. Its 28-point specification of requirements oversees the establishment and verification of an optimised, whole-life system of management involving all of your organisation’s physical assets. It has earned international recognition and is looked up to for being objective and essential in the definition of what an organisation needs to achieve competence, ascertain priorities in terms of improvement and clearly connect organisational strategies with actual work and asset realities.
With the success of the Publicly Available Specification standard and its adoption in multiple industries around the world, it now enjoys acceptance by the International Standards Organisation (ISO) as the basis for the development of ISO 55000. This is a new international standards series being used to improve organisations worldwide.
Your company’s asset management solutions can benefit from using internationally set standards built exactly for such a purpose. You will not realise how much your assets can still benefit your organisation until you open it to such standards.