What is PAS 60518 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 helps utilities do so through implementing enterprise risk and resilience management (ERRM).
PAS 60518 gives guidance on developing and implementing enterprise risk and resilience management (ERRM) and supporting business continuity and incident management plans to improve the resilience to help withstand unexpected future shocks and extreme events. It is designed for use by electricity, gas, water and wastewater utilities of all sizes in public and private sectors.
NOTE: PAS 60518 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.
Who is PAS 60518 for?
PAS 60518 on developing and implementing enterprise risk and resilience management is beneficial 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?
Electricity, gas and water utilities across the world are facing an array of challenges. They are expected to manage risks to their services, meet their obligations and manage existing liabilities while improving organizational resilience in order to resist, respond to, and recover from unexpected events. Governments, regulators, customers and the public expect utilities to maintain services, and when a service is interrupted, quickly fix the problem while minimizing the impact. To survive and thrive, utilities need to manage risk proactively and to develop increased resilience.
PAS 60518 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.
PAS 60518 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 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 the 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 is designed to provide a path that guides ordered development: improving risk, business continuity and the resilience of utilities over time.
