Asset management performance
PAS 55-1:2008, Asset Management: Part 1: Specification for the optimized management of physical assets, written by the Institute of Asset Management, and published by BSi in September 2008, defines asset management performance as: ‘measurable results of an organization’s management.’
NOTE 1 Results are normally measured against the organization’s strategic plan, asset management policy, asset management strategy, asset management objectives and/or other asset management performance requirements.
NOTE 2 Asset management performance may include the effectiveness of expenditures, the reliability, efficiency, quality, sustainability and value of the assets and their utilization, and/or the impact of assets and asset management upon the organization’s financial performance, health and safety performance, environmental performance, compliance and reputation.
NOTE 3 Asset management performance measurement includes measuring the effectiveness of the organization’s asset management system.
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