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Basic Principles

Basic Principles
  1. A company can get the greatest benefit from an asset management program when it integrates all aspects involved in controlling assets and their costs. The program should cross all lines between departments and disciplines to focus on the total value. Managers should use a systematic approach, applying standards in a structured way.

    Risks must be evaluated and, if necessary, compromises found that best balance risk against performance and cost. The program should allow managers to examine assets in context of their use and value to the company. A good asset management program will also be sustainable, helping to optimize the life of assets while considering long-term effects such as environmental impact

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