Asset Management - A value-led approach

Most firms that manage physical assets continue to face increasing pressures of operating those assets with the dilemma of maximising utilisation rates whilst reducing the costs of operation.

As the international benchmark for asset management, PAS-55 defines the principles of industry leading practice for effective physical asset management. An early adopter was the power transmission and distribution sectors in the UK, actively encouraged by the regulator, recognising the assurance that certification provided to all stakeholders.

We have observed, through our work with asset management teams within client organisations, that a more holistic approach is required to the implementation and embedding of good asset management principles and standards. Put simply, the policies and processes defined by PAS-55, to build, operate and maintain assets, collect data and create useful information, require ownership from the business functions across the enterprise, not just asset management.

It is important your certification process is rigorous and independent, therefore we bring complementary skills at the right time to prepare and support your progression towards certification, understanding the gap between ’business as usual’ and required standards and scoping what it will mean to operationalise this for your business. Together with Lloyd’s register PwC will work on 4 key areas:

  1. Review existing capability
  2. Develop necessary change plan
  3. Support certification
  4. Embed continuous improvement