The TC251 Committee has recently posted a paper which discusses the difference between Managing Assets and Asset Management. Here is an extract:-
A Managing Assets Focus
- Lifecycle activities and asset care - availability, reliability, dependability and safety
- Asset location, condition, life extension and/or interventions
- Asset databases, systems (and IT) and performance
- People, skills and work management
- Budgets and key performance indicators (KPIs) / cost of maintenance and current performance
An Asset Management Focus
- The purpose of your organization and what assets does it need – and why
- Value, purpose and long term outcomes
- Risk and context e.g. markets / climate / regulation or what
- Holistic approach to different funding streams e.g. CAPEX and OPEX?
- Collaborative behaviours - breaking down silos both internal and supply chain?
- How assets contribute to organizational value
To read the full paper click HERE