INTRODUCTION Asset Management is defined asthe best practices which ensure sustainable life cycle of all goods such as infrastructural assets like roads, bridges, and buildings as well as other assets like finances, human resource and information among many other assets (Echendu, 2004). Assets are the backbone for efficient and effective working of every business organization. Assets are regarded as that part of the organization through which it would be able to generate profits or incomes in the future (Davis, 2016). With this consideration, this thesis is structured to have a deep study of the literature relating to the standards laid down by the British Institution PAS 55-2008 and the new evolution of this standards the ISO 55000/55001/55002 (2014) certification. Types of assets and Assets Systems PAS55-1/55-2 (2008) and ISO55000/55001/55002 (2014) assert that, asset management primarily focused on physical assets and assets systems which is a set of assets that work as a group to deliver function or a services for the company. The physical assets is part of 5 types of assets which are human assets, financial assets, intangible assets, information assets, and final physical assets all of which are need to achieve the business object of the company. The other 4 assets will only be considered by the standeredif they directly affect the physical assets. PAS55-1/55-2 (2008) and ISO55000/55001/55002 (2014) are specifically focused on covering the life cycle management of physical assets. Life-cycle management optimizes the value of money considering the trade-offs of performance, cost and risk in a business that is primarily focused on the performance of its physical assets like: sewage systems and power stations. Corporations should in term look at short-term versus long-term expenditures, expenditure versus performance levels, etc. when considering the implementation of an asset management system. Asset portfolios is the sum of all the company’s asset systems owned by the company. Bigger corporations may own more than one asset portfolio. Physical assets could deteriorate and obsolesce, however, asset systems may have an indefinite horizon. Structure of asset management When establishing an organizational strategic plan the expectation of stakeholder are supposed to be meet. The first point is to develop an asset management policy (AMP), strategy (AMS) and objective (AMO), to establish an AMP the portfolio of assets systems need to be evaluated according to diversity of type’s criticalities condition and performances. Finally, performants and condition monitoring is important continual improvement. Keeping in mind that, the AMP fallow organizational values, functional standards, and required processes. Activities followed in establishing asset management plan PAS55-1/55-2 (2008) and ISO55000/55001/55002 (2014) outlines a series of events or stages any organization seeking to start an AM program ought to follow. The Plan Do Check Act (PDCA) cycle summarizes all the activities which also represent the life cycle of the asset in question. It is a cycle because once the whole process is complete; it is again repeated since businesses replace their property once their useful life is over (Messa Newlines, 2008). The steps are discussed in details with their corresponding activities and objectives at each stage as follows; The Planning stage/Acquire The step involves the development of an asset strategy that is in line with overall organizational plans.Thus,it will include technical and financial analysis for the justification of the AM system. Another thing that takes place at this stage is the setting of the objectives about the upkeep of the asset. The stage also involves taking care of unforeseen circumstances or contingency planning which might arise in the process of implementing the new plan. All these activities mark the first step of establishing an asset management system as per PAS 55. The Do stage/Deploy It is the secondphase whichinvolvesthe establishment of structures, responsibilities, and authority concerning the asset administration and maintenance. It is here therefore where commissioning and installation takes place. Members of the staff undergo training and awareness sessions to enable them to follow the organizational plans. Testing and documentation are also done to minimize risks that might come with the owing assets. The company also looks at the legal requirement with a lot of consultations being conducted to ensure inclusiveness of all the stakeholders. Before moving to the next step, proper communication to the relevant parties is done to avoid misunderstandings (Dwight, 2008). The check stage/Operate/Maintain It is also called the audit stage since it is about checking out of the entire asset management strategy to ensure efficiency, longevity, and maintenance of the property capabilities. Equipment and tools or the peripheries and spare parts are also installed at this point hence having the complete set, and in a case of breakdown, rectifications are possible (Luan & Siew, 2007). To ensure the lifetime of the asset is long; regular servicing is necessary. Regular checks are also conducted to ensure the asset remains in good condition. The Act stage/Retire It is the step which involves performance assessment and improvements to test the asset that needs disposal. Investigation of property related failures and non-conformity is conducted here too to identify these resources. A complete audit of the whole process is carried out as a way of evaluation. Corrective actions are taken, and a proper record is kept for all the above process. The management then does a review of the entire process and then prepares the asset management policy which shall now guide the management and maintenance of the property during its lifecycle. Apart from identifying the asset management strategies using the various stages of AM, the activities can also be determined based on the three level of the organizational management hierarchy. At the top level, we have strategic planning, controlling and strategy formulation activities. These activities are closely associated with the acquiring stage. At the middle level, we have management controlling activities involved with the implementation of the strategic goals. Finally, at the operational level, we have operational activities that are basic for the running of the entire system of AM. The Approach to thesis Different organizations have diverse strategic plans depending on their location, their line of business and the objectives behind their formation. The thesis at the end targets developing a strategic organizational strategy. The study focuses on local firms that are established in the UAE originally. A comparison can be held with branches in the UAE that have their parent company following AM standards as a baseline for the study. Although ISO 55000 is out and active, it is too recent to base the study on for the lack of feedback and literature. Instead, PAS 55 will be the standard followed in the study and ISO 55000 will be again compared with PAS 55 to measure how the procedures changed and were enhanced.   Significance UAE is an ever growing market that is proving to be a good region to for investors and companies. Local businesses are growing at a big rate that requires AM strategies to better perform. As the market matures asset-owning organizations may be required by their regulators or good practice requirement to maintain both an asset management system and a quality management system. AM systems addresses strategic planning activities, asset plans, risk management processes, support systems & processes, auditing activities to optimize the performance of the firm and to meet the expectations of the stakeholders. Thus, it is inevitable for businesses that seek growth to adopt AM strategy regardless of following a standard or not. Project objectives Understanding and application of PAS55-1/55-2 (2008) and ISO55000/55001/55002 (2014) standards relevant to engineering asset management and systems engineering to develop an asset management plan for a specific organization. This project requires a review of these standards, identifying the required activities following the guidelines of the standards and the development of an asset management plan. What is the sensible approach to develop an asset management plan that fits the requirement for the overall question strategy? This lead to the focus of this paper how can an organization in the UAE use the existing standards to develop an asset management plan for the water and segueinfrastructure sector? Methodology This study will be cared out by interviews and documented date collected from a government organization. Furthermore, the interviews will be recorded and the will have their session be translated; all the interviews will have be chosen based on their background information of there asset management or infrastructure engineering. The plan is two interview nine people with four people have an experience in of asset management and four people in the field infrastructure asset management. Finally, date will be collected to run a model to see how if assets management is implement it would benefit the fallowing organization.