Functional policy
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 a functional policy as the: ‘specified approach, rules and boundaries set out by an organization, that provide direction and the framework for the control of specific asset-related processes and activities NOTE Functional policies, strategies and objectives relate to asset management activities or processes, such as capital investment, construction methods, maintenance and purchasing, These should not be confused with asset management policies, asset management strategy and asset management objectives, which are cross-functional, considering the life cycle optimization of all relevant activities.’
[edit] Related articles on Designing Buildings
- Asset.
- Asset information model.
- Asset management.
- Asset management strategy.
- Asset management team.
- Creating an asset register for construction projects.
- Digital asset management.
- Economic Order Quantity EOQ.
- Enterprise asset management.
- Facilities management.
- Knowledge asset management.
- Property management.
Featured articles
Check out some of the best features and news from Designing Buildings as well as key stories from around the web.
Leaders in Learning for Practice Network
Call for conservation leaders in learning to register interest in new network.
The importance of early engagement
Construction lessons from the Trillium HealthWorks Experience Centre.
Mayors are to be given planning call in powers
Mayors across England will be able to make the most important planning decisions.
The Master Builder: William Butterfield and his times. Book review.
Why construction can't afford to ignore the skills gap.
Building Safety Regulator, 19 August
Gill Kernick appointed Independent Chair of Residents’ Panel.
Connecting knowledge, technology and conservation
Building competence for the future of built heritage.
Building Regulations and Building Safety Act
CIOB publishes free advice for non-domestic clients.
Building Safety Newsletter from MHCLG.
An extraordinary record of steel engineering worldwide.
Households living near new pylons to save on bills.
ECA warns growth must not outpace grid capacity or skills.