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Is Your Conversation About Managing Assets or Asset Management?

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

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