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Best
practice for asset management (including certify
for PAS 55 compliance)
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About our service
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As part of our focus on best practice for asset
management for all industries which we serve, we
at Lloyd’s Register have invested in the
development of an independent standard for asset
management.
As a result of our sponsorship and involvement,
there is now a Publicly Available Specification,
PAS 55, an independent British Standards
Institution specification, promoted by the
Institute of Asset Management. PAS 55 identifies
best practice for asset management. As well as
providing a route map for the introduction of an
asset management regime, certified compliance with
the specification also allows you to demonstrate
effective management to stakeholders.
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How we can help |
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We at Lloyd’s Register Asia offer a variety of
services in support of the development and
maintenance of an effective asset management
regime, and can assess existing management
frameworks against PAS 55. We provide PAS 55
assessment services into sectors as diverse as
rail, power and other utilities, nuclear and
process industries across Asia.
Some of our asset management services related
projects include:
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Rolling
Stock Leasing Co. - UK
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Rail
Company - Netherlands
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MTRC -
Hong Kong
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Office of
the PPP Arbiter
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Various
Power Generators - UK
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Power
Generator - Netherlands
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Various
Power Distributors - USA
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Various
Power Distributors - Aus
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OFGEM -
UK
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EMSD -
Hong Kong
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Various
Power Generators - USA
Why choose our asset management services?
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managing
cost through optimisation of investment and
maintenance for required operational and safety
performance
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obtaining
support for corporate governance through
provision of independent verification of safety
critical system compliance
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obtaining
evidence for regulators and other stakeholders
that assets are being appropriately maintained
and short and long term issues and risks are
being addressed
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obtaining
access to multi-disciplinary teams with
competencies and experience across a wide field
of asset types and engineering systems
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where
required, obtaining an impartial viewpoint from an
organisation with financial, political and
technical independence.
Asset Management is doing what we have always
done but in a controlled, systematic and customer
oriented manner.
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It involves the whole business of an organisation.
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It focuses on the alignment between the assets and
the business objectives.
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It follows a risk based approach to the
prioritisation of resources.
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Requires the support of an appropriate information
system.
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It relies on high competency and knowledge levels
across the organisation.
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PAS 55 - the background |
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The need for a cross sector asset performance
specification
Asset operators across sectors need to provide
constant assurance to external and internal
stakeholders that corporate risk issues are being
tackled. Operators also require through-life asset
safety and performance in order to achieve
business objectives.
A common approach
It was recognised that a common approach to, and
understanding of, Asset Management was required
across sectors (power, process, utilities,
chemicals, oil and gas etc). Lloyd's Register made a
joint proposal with the Institute of Asset
Management (IAM) to the British Standards
Institution (BSI) for a Publicly Available
Specification (PAS) addressing Asset Management.
Publicly Available Specification (PAS 55)
PAS 55 Requirements (Part 1) and Guidance (Part 2)
were published by BSI in May 2004, underlining the
successful conclusion to the cross sector PAS
development project. PAS 55 certification can be
applied to companies across various sectors and
requires companies to optimally manage capital
investments, daily operations, maintenance,
resources, risks, performance, and sustainability
for all their assets. PAS 55 was specifically
designed to be compatible with other management
systems and does not require a standalone
management system. PAS 55 makes no distinction on
size of business. The specification lends itself
to larger organisations which wish to:
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ensure
their assets are properly implemented, and managed
in support of the business plan,
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demonstrate such conformance to others.
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How we can help |
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PAS 55 offers a non proprietary means of
comparison with peers. A PAS 55 system explicitly
addresses:
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risks-asset related risk which can impact the
business,
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process-
defining those critical things which need to be
done,
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performance- ensuring the required performance is
delivered,
PAS 55 provides a consistent set of requirements
for asset management across asset-intensive
industries such as electricity, water, rail, and
oil and gas.
PAS 55 certification requires companies to
optimally manage capital investments, daily
operations, maintenance, resources, risks,
performance, and sustainability for all their
assets.
We provide the following PAS 55 related
services:
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Verification - to assess and if compliant to
certify, conformance with the requirements of the
specification.
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Training - to provide senior management with
an overview of the requirements of PAS 55, and for
practitioners, a more detailed course to train
staff how to implement the specification.
In addition (and where there is not a conflict of
interest with our other services), we can also
provide consultancy to help an organisation
improve its management of assets.
PAS 55 : Our experience
Lloyd’s Register was one of the first
organisations to certify a company as compliant
with PAS 55 and has continued with a series of
firsts to retain its position as the foremost
provider of PAS 55 certification in the world:
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First
utility company certified in Europe
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First gas
company certified in Europe
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First PAS
55 certificate in USA
We are currently engaged with the review of the
specification to ensure that it remains relevant
to all industries and is acceptable to a wide
international footprint.
Some of our clients certified by us as PAS 55
compliant:
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KCRC -
Hong Kong
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National
Grid
- UK Electricity Transmission
- US Electricity Transmission,
- UK Gas Transmission
- UK Gas Distribution
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E.On
Central Networks
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Essent
Netwerk BV
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Western
Power Distribution
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EDF
Energy
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Intergas
Energie BV.
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What our clients say
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Whilst our track record in this field is second to
none, what is more important to us is the views of
our clients. The following are quotes from senior
managers of some of the largest infrastructure
companies and speak for themselves:
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Alex
Lau, Safety & Quality Manager, Kowloon-Canton
Railway Corporation said: ”KCRC’s mission is
to provide safe, reliable and quality transport
services to Hong Kong people following prudent
commercial principles. By achieving an
internationally acclaimed PAS 55 certification of
its asset management system, KCRC can demonstrate
to its stakeholders that the railway assets are
optimally managed from cradle to grave to maximize
their life-cycle contribution to the business.
KCRC chose Lloyd’s Register as the auditor for
certifying its AMS because they have been well
recognized as a pioneer in developing the PAS 55
standard and a robust approach to certification.
In addition, Lloyd’s Register has a long history
of working with railways around the world, and we
trust that Lloyd’s Register can understand our
operating needs and help us through the assessment
process in the most effective manner.”
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Jan
Peters, Managing Director of Asset Management,
Essent Netwerk said “We are pleased to
implement a universal and international standard
for Asset Management. We are proud to obtain these
certificates after an intensive period of audits
with a team of independent experts. This once more
underlines that we as Essent Netwerk have taken a
strategically correct approach in applying a risk
based approach in our management philosophy. Our
management system and the independent
certification provides confidence and transparency
to our stakeholders as well as to the authorities
(DTe)”
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Jon
Carlton, Director of Network Strategy for UK
Transmission at National Grid said “We have
welcomed the introduction of a universal benchmark
for asset management and have been actively
involved in the development of PAS 55 since its
inception. National Grid is delighted to receive
this certificate after a comprehensive review of
our systems”
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Paul
Cuttill, Chief Operating Officer, EDF Energy,
said: “We are delighted to obtain the PAS 55
Certification. As a company we gained significant
value from the assessment process which
complements our vision to be the best DNO by 2010”
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Alan
Raymant, Director of Operations for Central
Networks (an E.On Company) said “We’re
absolutely delighted to have earned the PAS 55
Certification. We want to be regarded as the UK’s
leading DNO and to win certification from such a
highly regarded, nationally recognised body
assures our customers and our stakeholders that we
are operating at the very highest level”
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Robert
Symons, Chief Executive of Western Power
Distribution said “We are delighted to be the
first DNO to obtain the PAS 55 certification. As a
company we gained significant value from the
assessment process which complements our vision to
be world class in power delivery. The value was
delivered from a combination of Lloyd’s Register’s
detailed understanding of PAS 55 and audit process
but more importantly from a fundamental
understanding and experience of the electricity
distribution industry which was brought to bear in
the combined skills of the project team”
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David
Wright, VP Transmission Asset Management, National
Grid USA said “The assessment process itself
was very beneficial, and we believe that the work
accomplished to achieve PAS 55 certification will
be of great value in our ability to consistently
provide energy solutions to customers and
communities safely, reliably, and responsibly”
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Why choose Lloyd’s
Register Asia's PAS 55 certification
services |
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The benefits you derive from being certified
as PAS55 compliant by Lloyd's Register
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drives
optimal use of resources to deliver service
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strengthens the application of risk management
promoting sustainable asset performance
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supports
the Corporate Risk Management regime
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reinforces relationships with contractors, making
them part of the asset management system
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provides
a way to demonstrate good stewardship to
Regulatory Authorities
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promotes
cross functional thinking and approach
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reinforces Board level control of the asset base
from a position of knowledge
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contributes to the achievement of corporate
objectives through effective control of the
asset base
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inspires
stakeholder confidence by demonstrating their
interests are being managed
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stimulates investor trust and supports funding
requests
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gives the
basis for critical input via benchmarking,
maturity assessment and certification processes.
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