Why do we need PAS 55?

Answer: Organisations that have adopted such a systematic and optimized approach have consistently delivered significant bottom-line cost and performance/service improvements. PAS 55 also provides clear evidence of sustainable good governance to customers, investors, regulators and other stakeholders. In contrast to many other standards, which can sometimes be met simply by having extensive paperwork, PAS 55 specifically requires evidence of alignment between good intentions and real, on-the-ground delivery. So it is a valuable mechanism to ensure that the principles of whole life cycle planning, risk management, cost/benefit, customer focus and sustainability etc. are actually delivered within the day-to-day activities of capital project implementation, operations, maintenance etc.

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The International Standards Organisation (ISO) has now accepted PAS 55 as the basis for development of the new ISO 55000 series of International standards. For more information go to www.ISO55000.info.