The professional body for whole life management of physical assets

Levels of an Asset Management System

Levels of an AM System

Assets can be defined at many levels and this is a common source of confusion about the nature and priorities of ‘Asset Management’. 

PAS55 seeks to clarify the need for layered integration of what needs to be done - from life cycle optimisation of discrete components or equipment items up to the sustained value-for-money obtainable from organization’s whole portfolio of systems, networks, information, people, knowledge etc. 

In each layer of increasing systems complexity, different problems and goals tend to be perceived, but the underlying challenges of optimizing the blend of costs, performance, risks and sustainability exist. 

The PAS55 expectations of good asset management include such systems integration awareness, and require us to manage assets at levels of ‘granularity’ appropriate to value contribution or business criticality.

For more detail, case studies and other useful insights into the subject and how it is implemented in different environments, please go to the Knowledge Centre (some material is for IAM members only).

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