PAS 60518:2020 Risk management for electricity, gas, water and wastewater utilities

PAS 60518:2020

Developing and implementing enterprise risk and resilience management (ERRM) in utilities. Guide

Status : Current   Published : July 2020

Format
PDF

Format
HARDCOPY



What is PAS 60518:2020 about?

In times of increasing uncertainty and complexity, utilities should embed proactive risk management, risk-based decision making, and processes that improve resilience. PAS 60518:2020 will help utilities do so through implementing enterprise risk and resilience management (ERRM).

Who is PAS 60518:2020 for?

  • Electricity and gas providers, including generation, transmission, distribution and supply organizations
  • Water and wastewater providers, including supply, treatment, transmission and network operation organizations

Why should you use PAS 60518:2020?

To survive and thrive, utilities need to manage risk proactively and to develop increased resilience. This PAS gives guidance on the implementation of enterprise risk and resilience management (ERRM) for electricity, gas, water and wastewater utilities of all sizes in the public and private sectors.

Enterprise risk and resilience management (ERRM) builds on ERM and is designed to be an integrated and joined-up approach to managing risk and improving resilience across an organization and its extended networks.

It provides a way to guide/decide on the level of organizational investment to be made to increase organizational resistance, as well as response and recovery capability.

PAS 60518:2020 reflects how resilience thinking has changed: resilience was previously viewed as the ability to recover quickly from difficulties, but is now seen as the ability to survive a crisis and thrive in a world of uncertainty. ERRM can identify positive benefits related to achievement of objectives. It can:

  • Maximize organizational capability
  • Identify potential opportunities and encourage innovation
  • Improve situational awareness
  • Guide on managing risk including areas where more risk could be accepted
  • Guide on areas where business continuity and incident management plans are required
  • Improve resilience including response and recovery capability
  • Aid decisions on capital investment to increase organizational resistance
  • Provide assurance that business plans are robust and satisfy regulatory scrutiny

PAS 60518:2020 is designed to provide a path that guides ordered development: improving risk, business continuity and the resilience of utilities over time.

NOTE: This PAS does not cover governance and compliance with specific national and international legislation and regulations; or nuclear safety case risks, except for those areas common to all power generators.




Standard NumberPAS 60518:2020
TitleDeveloping and implementing enterprise risk and resilience management (ERRM) in utilities. Guide
StatusCurrent
Publication Date31 July 2020
Normative References(Required to achieve compliance to this standard)No other standards are normatively referenced
Informative References(Provided for Information)BS 11200:2014, PD ISO/TS 22317:2015, BS ISO 31000:2018, BS 67000:2019, BS ISO 55000:2014, ISO Guide 73:2009, BS ISO 22320:2018, BS EN IEC 31010:2019, BS 65000:2014, BS ISO 44002:2019, BS EN ISO 22301:2019, AS/NZS 5050:2010
DescriptorsRisk assessment, Enterprises, Public utilities, Management, Resilience
ICS03.100.01
CommitteeZZ/1
ISBN978 0 539 12480 4
PublisherBSI
FormatA4
DeliveryYes
Pages52
File Size11.11 MB
Price£138.00


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