Public and private organisations invest vast sums of money in assets. These might be infrastructure , utilities, buildings and machinery in sectors such as oil, gas, chemical, utilities, engineering, transport and manufacturing. If you sweat your asset too much they may fail and incur expensive repair and loss of product / service costs. If your asset is underutilised then capital is tied up unnecessarily. Asset management is not just about maintenance and keeping downtime to a minimum. It is about optimising the performance and minimising the cost of ownership throughout the life cycle of the asset.
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