The Institute of Asset Management (IAM) is the professional body for those involved in acquisition, operation and care of physical assets - especially critical infrastructure - for professionals worldwide that are dedicated to furthering Asset Management knowledge. IAM gathers, collates and presents existing knowledge and good practices as well as researchs it, providing products to assist organizations to put this knowledge into effect.

The accreditation is a Strategic Asset Management Support (SAMS) initiative and part of the group’s business plan aimed at being a leader in the market and offering a differentiated service to clients.

PAS55 is a published BSI ‘Publicly Available Specification’ which describes a globally-recognized framework of good Asset Management practices. This specification is fast becoming a de facto standard for Asset Management in the eyes of many of Hatch’s clients. Importantly, it is being used as the basis for ISO 55000-an international Asset Management standard currently being developed and targeted for release in 2014.

Prior to PAS55 there was no standard to allow asset-intensive businesses to prove they were following best Asset Management practices. PAS55 does this by describing the processes required to demonstrate competency, establishing improvement priorities, and identifying how to align whole-of-life strategic planning with the day-to-day activities of operations and maintenance.

The SAMS team navigated through the process to achieve the accreditation and have formed an initial team of PAS55 assessors. The working group compiled the significant volume of information for the Endorsed Assessor application process.

Work is now underway to promote and develop the PAS55 Asset Management business with several clients in various parts of the world.

Upcoming Events

August 9 - August 11 2022

MaximoWorld 2022

View all Events
banner
80% of Reliabilityweb.com newsletter subscribers report finding something used to improve their jobs on a regular basis.
Subscribers get exclusive content. Just released...MRO Best Practices Special Report - a $399 value!
DOWNLOAD NOW
Three Things You Need to Know About Criticality Analysis

When it comes to criticality analysis, there are three key factors must be emphasized.

Turning the Oil Tanker

This article highlights the hidden trap of performance management systems.

Optimizing Value From Physical Assets

There are ever-increasing opportunities to create new and sustainable value in asset-intensive organizations through enhanced use of technology.

Conducting Asset Criticality Assessment for Better Maintenance Strategy and Techniques

Conducting an asset criticality assessment (ACA) is the first step in maintaining the assets properly. This article addresses the best maintenance strategy for assets by using ACA techniques.

Harmonizing PMs

Maintenance reliability is, of course, an essential part of any successful business that wants to remain successful. It includes the three PMs: predictive, preventive and proactive maintenance.

How an Edge IoT Platform Increases Efficiency, Availability and Productivity

Within four years, more than 30 per cent of businesses and organizations will include edge computing in their cloud deployments to address bandwidth bottlenecks, reduce latency, and process data for decision support in real-time.

MaximoWorld 2022

The world's largest conference for IBM Maximo users, IBM Executives, IBM Maximo Partners and Services with Uptime Elements Reliability Framework and Asset Management System is being held Aug 8-11, 2022

6 Signs Your Maintenance Team Needs to Improve Its Safety Culture

When it comes to people and safety in industrial plants, maintenance teams are the ones who are most often in the line of fire and at risk for injury or death.

Making Asset Management Decisions: Caught Between the Push and the Pull

Most senior executives spend years climbing through the operational ranks. In the operational ranks, many transactional decisions are required each day.

Assume the Decision Maker Is Not Stupid to Make Your Communication More Powerful

Many make allowances for decision makers, saying some are “faking it until they make it.” However, this is the wrong default position to take when communicating with decision makers.