The definition of Asset Management stated in by PAS 55:2008 is: Systematic and coordinated activities and practices through which an organization optimally and sustainably manages its assets and asset systems, their associated performance, risks and expenditures over their life cycles for the purpose of achieving  its organizational strategic plan.

It is an integrated approach, which aims to include a holistic, systematic, systemic, risk-based and optimized analysis of the physical assets. But what does it actually means for organizations? Continue reading “Why Engineering Asset Management is important?” →