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