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Question: What Is the Key Relationships between the Functions? Answer: Introduction The report is based on a situation, and the situation is that there is a buried gas pipeline in the organization. It is at risk to external corrosion as well as third party damage. External corrosion of pipe wall of the pipeline is prevented by two systems. Firstly, the pipeline is being coated with protective layer that is made up of polyethylene. Secondly, a protection of cathodic used to produce of negative electrical potential between the pipe as well as soil. The report is based on review of the asset management system within context of the gas pipelines that has been conducted. Asset management system Baistriuchenko and Oladapo (2014) stated that asset management within the gas pipeline industry is a concern with integrity guarantee. At the time of dealing with the service life, special attention should be given to assessment of pipelines due to external corrosion as well as third party damage. The gas pipeline asset management concerns with activities of asset life cycle such as designing, constructing, installing, utilizing as well as disposal. The pipeline industry uses of standards such as ISO/IEC 15288 and PAS 55-1 2 in order to improve of asset management system (Lowenstein Slater 2016). The paper summarizes an asset management framework for the given situation and its respective functions. Asset management framework Within the gas pipeline industry, there is risk associated with leakage as well as explosion. The importance of asset management system in terms of ability to transport of gas flow rate can be fewer of organizational issue than ensues of reliability of the pipeline (Franssen Hafkamp 2016). With use of PAS 55-1: 2008 standard, it measures performance, incident investigation, emergency preparedness and responses and finally documentation records. It states requirements of the asset management system for managing the physical assets as well as asset systems in excess of the life cycle. It aims to ensure that the assets of the organization are managed over time (Revie 2015). It allows the organization to expand good practices for sustainable as well as long-term management of the assets. PAS 55 provides with a useful asset management framework for the gas pipeline organization. It discusses the needs of PAS 55-1: 2008 asset management that specifies the optimized administration of the p hysical assets (Badiru Osisanya 2016). It provides framework for long-term asset management abilities for improving the business operations. Therefore, this standard is beneficial for the mentioned gas pipeline situation as it helps in gaining competitive advantage to the organization by managing the assets (Love et al. 2014). Using this standard, asset management drives savings of price and improvement in the service. Inspection intervals are to be set up with use of expert judgment rather than use of decision models. External corrosion of pipe wall of the pipeline is prevented by two systems. Firstly, the pipeline is being coated with protective layer that is made up of polyethylene. Secondly, a protection of cathodic used to produce of negative electrical potential between the pipe as well as soil (Nnadi et al. 2014). The first system is coating, such that the pipeline is being coated with yellow jacket polyethylene. The industry is suffering from coating degradation, therefore they go for end choice such as Cathodic protection system. This second system provides an unprotected environment where there is loss of metal as well as corrosion cracking (Iqbal et al. 2017). Cathodic protection system reduces the corrosion in the pipelines on the metallic pipes by application of the electric current. While there is damage into the system, it causes accelerated deterioration as well as failure of the pipelines (Knapp Langill 2014). The mitigation system has buried components that are interconnected wit h the electric cables. It is located at a distance from the pipeline to keep it protected. Asset management policy should be implemented in the gas business so that it can develop to deliver exceptional services to the customers that balance risk as well as cost (Dutta Madi 2014). The policies are communicated with the workers of the gas pipeline industry for ensuring safe as well as secured working environment for them. The asset management activities are placed within the gas pipeline industry and it is asset integrity as it is the main concern. Asset management framework - Key functions and key relationships between the functions The organization should establish of long term asset management strategies that help them to mitigate the risks. The strategies are being consistent with the organizational policies of other organization. Identification as well as consideration of the stakeholder identification is required (Badiru Osisanya 2016). The strategies should be implemented such that it can take into account the asset related risks. PAS 55-1: 2008 standard measures the performance, incident investigation, emergency preparedness and responses and finally documentation records. The functions of the PAS 55-1: 2008 are as follows: This particular standard starts processing to map overall asset base as well as creates the information strategy as per the organizational requirements (Lowenstein Slater 2016). It is reducing existing time based work and replacing it with risk-based approach. It can create of motivational performance management for the organization to overcome with the risks (Badiru Osisanya 2016). It provides framework for long-term asset management abilities for improving the business operations (Knapp Langill 2014). It provides good practices in the lifecycle planning and optimization of cost. It shows capable governance for the critical infrastructure (Gulp?nar, Pachamanova anakoglu 2016). It tracks the incidents, problems as well as any changes with the organization. It supports remedial and defensive actions. PAS 55 is dealing with the structure as well as responsibilities of the asset management. It measures performance, incident investigation, emergency preparedness and responses and finally documentation records (Glasson Gibbons 2015). The scope of asset management is to understand the possible functions and their interrelationships. Asset management functions provide a strong influence on the performance of the standards (Love et al. 2014). The operation of the asset management is not only limited to the operation but it can also maintain any involved changes. Asset management strategy ought to be executed in the gas pipeline industry with the goal that it can create to convey exceptional services to the clients that adjust chance and cost (Dutta and Madi 2014). The arrangements are interacted with the specialists of the gas pipeline industry for guaranteeing security and secured working condition for them. The asset management activities are set inside the gas pipeline industry and it is resource trustworthiness as it is the fundamental concern (Baistriuchenko Oladapo 2014). The asset management strategies are establishing approach to manage public safety into the pipeline industry. It manages network integrity as well as its operational integrity. It provides effective delivery of services and improves environmental performance. Lastly, it improves decision support processes. These strategies are specific to the life cycle plans tht can manage the risks associated with the asset management of pipeline industry. Diagram for asset management framework The asset management framework sets out the asset management decisions, prediction activities, pipeline operation and maintenance and finally asset management analysis. A control process constituted by the lifecycle maintains the management decisions. Pipeline configuration circumstance information and preservation system configuration are taking as asset modifications in the gas pipeline industry (Gulp?nar, Pachamanova anakoglu 2016). As the maintenance requirement analysis, failure prevention strategies for pipeline and preservation system are taken. In top down direction, these strategies are assisting feed forward authorization as well as plan to manage directions for the operational level activities. In the bottom up direction, the activities are demanding response from lower level activities to let the analysis and make decisions (Glasson Gibbons 2015). Risk assessment is done to identify the risks and mitigate them. Figure 1: Asset management framework (Source: Gulp?nar, Pachamanova anakoglu 2016, pp- 1031) Conclusion It is concluded that asset management system as far as capacity to transport of gas stream rate can be less of authoritative issue than follows of quality of the pipeline. With utilization of PAS 55-1: 2008 standard, it focuses on execution, occurrence examination, crisis readiness and reactions lastly documentation records. It states prerequisites of the benefit administration framework for dealing with the physical resources and resource frameworks in overabundance of the life cycle. It intends to guarantee that the benefits of the association are overseen after some time. Asset management policy ought to be executed in the gas business with the goal that it can create to convey excellent administrations to the clients that adjust chance and in addition cost. PAS 55-1: 2008 standard begins handling to guide general resource base and in addition makes the data system according to the organizational prerequisites. It decreases existing time based work and replaces it with hazard base d approach. It can make of motivational execution administration for the association to overcome with the risks. It gives structure to long term resource administration capacities for enhancing the business operations. It tracks the incidents, issues and in addition any progressions with the association. Finally, the standard is dealing with the structure as well as responsibilities of the asset management. References Baistriuchenko, NO Oladapo, A 2014, Analysis of Asset Management System in a Private Enterprise, pp.60-67. Revie, RW 2015,Oil and gas pipelines: Integrity and safety handbook. John Wiley Sons. Badiru, AB Osisanya, SO 2016,Project management for the oil and gas industry: a world system approach. CRC Press. Nnadi, U, El-Hassan, Z, Smyth, D Mooney, J 2014, Lack of proper safety management systems in Nigeria oil and gas pipelines,Loss Prevention Bulletin, (237). Iqbal, H, Tesfamariam, S, Haider, H Sadiq, R 2017, Inspection and maintenance of oil gas pipelines: a review of policies,Structure and Infrastructure Engineering,13(6), pp.794-815. Knapp, ED Langill, JT 2014,Industrial Network Security: Securing critical infrastructure networks for smart grid, SCADA, and other Industrial Control Systems. Syngress. Love, PE, Matthews, J, Simpson, I, Hill, A Olatunji, OA 2014, A benefits realization management building information modeling framework for asset owners,Automation in construction,37, pp.1-10. Glp?nar, N, Pachamanova, D anakoglu, E 2016, A robust assetliability management framework for investment products with guarantees,OR Spectrum,38(4), pp.1007-1041. Glasson, J Gibbons, P 2015, Understanding the context of the organisation: adopting a systems thinking approach to asset management. Dutta, R Madi, M 2014, January, Best Practices in Asset Integrity Management System. InIPTC 2014: International Petroleum Technology Conference. Lowenstein, D Slater, C 2016, September, Reducing the cost of test through strategic asset management, InIEEE AUTOTESTCON, 2016(pp. 1-5). IEEE. Franssen, MJPM Hafkamp, PJM 2016, November, Risk based asset management aspects in order to cope with successful life-cycle civil engineering, InLife-Cycle of Engineering Systems: Emphasis on Sustainable Civil Infrastructure: Proceedings of the Fifth International Symposium on Life-Cycle Civil Engineering (IALCCE 2016), 16-19 October 2016, Delft, The Netherlands(p. 264). CRC Press.