Asset management system
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 an asset management system as an: ‘organization’s asset management policy, asset management strategy, asset management objectives, asset management plan(s) and the activities, processes and organizational structures necessary for their development, implementation and continual improvement.’
NOTE 1 A management system is a set of interrelated elements used to establish policy, strategy and objectives and to achieve those objectives through the implementation of plans.
NOTE 2 A management system includes organizational structure, roles and responsibilities, planning activities, standards, information systems, practices, processes , procedures and resources.
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