Users of PAS55 attribute the following benefits to their business:
- Enhanced customer satisfaction from improved performance and control of service delivery.
- The ability to achieve and demonstrate best value-for money.
- Improved risk management and corporate governance - with a clear audit trail.
- Optimized return on investment and/or growth.
- Improved health, safety and environmental performance.
- Confidence from long-term planning, better sustainability and performance.
- Improved corporate reputation, including enhanced shareholder value, greater staff satisfaction and more efficient procurement and supply chain.
PAS55 also provides a common language between asset managers and finance. It defines the integrated approach required to meet conflicting stakeholder demands, achieve best value-for-money, and deliver significant performance improvements.
PAS55 defines asset management in systematic and inter-disciplinary terms. It specifies the requirements for the identification and management of risk and highlights the vital roles of individuals and teamwork in asset management.