POWER March 2011 - 25

PAS-55 requires comprehensive asset lifecycle
management software
IFS expert says.
Electric utilities, under increasing
pressure from rate payers, interveners,
regulators and investors are
considering adopting PAS-55,
the British Standards Institute
publically available specification
for organizational excellence in
asset management.
Whether you are planning to adopt
PAS-55 or not, it is smart to follow
these corporate practices in taking
a more holistic and thorough approach to asset
management. PAS 55 compliant business practices
must encompass the entire asset lifecycle - from
asset design/engineering to commissioning to
operation and maintenance - all the way through
to decommissioning and replacement. But keep
in mind that while PAS-55 does not deal directly
with the software systems used to manage
assets, it does include some requirements that
directly and indirectly impact enterprise software
like enterprise asset management (EAM) and
enterprise resources planning (ERP).
What does PAS-55 require of Enterprise Software?
PAS-55 does place specific requirements on
enterprise software that must be taken into
consideration during software selection for
adoption and compliance:
* Your enterprise software must address all
phases of the asset lifecycle, including those
that involve outside contractors like the processes
of planning and engineering of the asset,
maintenance and operation of the assets, and
the eventual retirement or decommissioning of
the asset. This means an enterprise software
environment must be extensible to trading
partners and comprehensive enough
to encompass all stakeholder data
requirements across the entire asset
lifecycle, providing access to any
information needed based on the
stakeholders roles and accountabilities
regarding assets.
* Enterprise Software must support an
accurate and consistent view of all asset
information - one version of the truth -
insuring the issues of data stewardship
are systematically addressed in terms
of approval for use, strict maintenance regarding
its release and of its removal as it is obsoleted.
In this way, policies, plans, and actions are based
on an accurate understanding of the history and
current status of your asset infrastructure.
* PAS-55 includes requirements for documenting
and auditing your performance against the asset
management plan to ensure that top management
has visibility into the asset management
system and any associated improved metrics
or deliverables.
Is the enterprise software you are considering
or have today comprehensive enough to deliver
on all of these requirements? If not, your utility
could be at a marked disadvantage in responding
to regulators, interveners and stakeholders in
your enterprise - and your competitors, who are
adopting these orchestrated corporate practices,
will be able to reliably get more value and higher
performance levels from their capital assets than
you can without its discipline.
Get Blalock's whitepaper on PAS-55
at download.ifsworld.com, or
call 1 888 437 4968.
ADVERTISEMENT
IFS - THE GLOBAL ENTERPRISE APPLICATIONS COMPANY
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Michael Blalock
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POWER March 2011

Table of Contents for the Digital Edition of POWER March 2011

Contents
POWER March 2011 - Cover1
POWER March 2011 - Cover2
POWER March 2011 - Contents
POWER March 2011 - 2
POWER March 2011 - 3
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POWER March 2011 - Cover3
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