An asset management program can help managers understand the value of their past and present investments. Management often becomes more aware of the assets they own, which ones need to be upgraded or replaced, how much unused assets might be worth and where investments might help the operation most.

The program can also help in budgeting, as short- and long-term expenses for assets are typically included in the plan. An asset management plan can be beneficial when it is necessary to decide whether to replace, renovate or repair an asset.