Asset management is meant to optimize the gain of the asset by understanding its total cost of ownership, utlization, risk and disposal. There are various models that demonstrates all the aspects of asset management from its lifecycle perspective where it starts with planing, acquiring through operating and maintaining and up to disposal. Each aspect should consider financial and technological management to achieve an optimum utilization for beneficial and profitable gain.
Managing assets is very important for one simple reason "Because companies can't afford not to". It is not just cost effective, it is also ensure reliability, customer satisfaction and risk mitigation. Assets are the main source of income and managing all types of assets puts the organization in control of its operations to ensure success.
My field of work is in the core of asset management, it is flight training facilities maintenance. Appreciating the concept of asset management helps me understand my current role in maintenance in terms of the bigger picture. Using a framework to assess the current asset management practises can help me identify what should be covered in our operations to in control of the whole asset lifcycle to ensure an optimized urilization and profitability.