What is PD IEC/TS 62775 – Technical and financial process for asset management about?
PD IEC/TS 62775 is an international standard that focuses on technical and financial processes for implementing management systems. PD IEC/TS 62775 is a technical specification, that shows how the IEC dependability suite of standards, systems engineering and the IFRS and IAS standards can support the requirements of asset management, as described by the ISO 5500x suite of standards.
PD IEC/TS 62775 provides:
- A brief introduction to asset management and the requirements for an AMS
- A description of the benefits from the use of an established and common set of AMS processes and procedures, tools and techniques to manage assets
- A description of the relationships between the AMS and the tools and techniques.
Who is PD IEC/TS 62775 - Technical and financial process for asset management?
PD IEC/TS 62775 on technical and financial processes for implementing management systems is useful for:
- Asset management companies
- Financial advisors
- Stakeholders
- Management board members
Why should you use PD IEC/TS 62775 - Technical and financial process for asset management?
Asset management is a multi-disciplinary business activity comprising financial, technical and risk components. Effective control and governance of assets by organizations are essential to realizing value from their use through the management of risk. The value derived using assets is determined by the organization.
The PD IEC/TS 62775 asset management suite of standards defines the principles of asset management and documents the requirements for an AMS that implements those principles. However, PD IEC/TS 62775 explicitly excludes information necessary to implement the technical and financial processes in support of the management of assets.
PD IEC/TS 62775 provides guidance on technical processes and techniques that achieve desired availability, reliability, maintainability and supportability of assets, products and systems.