Asset Management: What is it?
The objective of asset management is to ensure and to be able to demonstrate that the assets deliver the required function and level of performance in terms of service or production output. This should be achieved in a sustainable manner at an optimum life cycle cost without compromising health, safety and environmental performance or the organizations reputation.
PAS 55-1 the publicly available specification for the optimized management of physical assets describes Asset Management as: "the optimum way of managing assets to achieve a desired and sustained outcome". Assets in this instance are physical assets including production equipment, plant, machinery, buildings, vehicles and any other items and related systems that have a distinct and quantifiable business function or service.
The official PAS 55-1 definition of asset management is:
Lotus Asset Management Division provides Physical Asset Management Services and Software Tools to help clients achieve good asset management practice.
Contact Details:
| Ireland: | soneill@lotusworks.com |
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