UMS Group is an international Management Consulting firm specializing in enterprise-level value creation and performance management solutions. We combine experienced consultants and seasoned industry professionals with world class tools and intellectual capital to assist our clients in diagnosing problems, designing solutions, and implementing change.
March 12, 2008
UMS Group on PAS 55 International Review and Validation Panel
Parsippany, NJ – UMS Group Inc. is participating in the Review and Validation of Publicly Available Specification Number 55 (PAS 55) with a target of issuing the updated PAS 55 later in 2008.
As Infrastructure Asset Management has evolved over the past two decades, the more advanced practitioners such as UMS Group have established organization and functional standards that characterize a company’s Asset Management maturity within a spectrum of competencies.
In an effort to articulate and codify these standards, an industry working group drafted and released the first formal Asset Management Specification (Publicly Available Specification Number 55) in 2004. Published by the British Standards Institute, PAS 55 specifies the requirements for an asset management system for physical infrastructure assets including components thereof.
PAS 55 is applicable to all sizes of business, from small to medium enterprises through to multinationals and to any organization that wishes to:
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Implement, maintain and improve an asset management system;
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Assure itself of its compliance with its stated asset management policy and strategy;
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Demonstrate such compliance to others.
In mid 2007, the Institute of Asset Management in conjunction with the British Standards Institution, invited a group of infrastructure asset owners and managers and a select list of consultancies and services providers to review PAS 55 and to update it in 2008 to reflect improvements in Asset Management techniques and tools and advances in infrastructure management technology since the initial issuance of PAS 55.
UMS Group is the sole consultancy involved in this PAS 55 review and update with a North America headquarters and branch offices on three continents.
In our most recent offers, UMS is providing a range of support services and facilitation to assist its clients in the Asset Management transformation journey including compliance with emerging PAS 55 requirements.
About
UMS Group
UMS is a leading global
consultancy in the practice of utility asset management,
performance assessment, performance management and
change management. UMS proprietary databases,
analytical tools and methodologies have been utilized by
over 300 gas, water and electric utilities on four
continents to build world-class operations.