Traditional definitions of Asset Management have focused on the maintenance of physical assets throughout their asset lifecycle. \u201cAnd Enterprise Asset Management (EAM) solutions are used to plan, execute, and track maintenance activities, associated priorities, skills, materials, tools, etc. to maximize their Availability. This covers the design, construction, commissioning, operations, maintenance and decommissioning or replacement of plants, equipment, fleets, and facilities.\u201d<\/p>\n\n\n\n
The above definition of Asset Management<\/a> and the use of EAM focuses heavily on traditional objectives of maintenance, aiming at creating an efficient and reliable asset operation. But it ignores the rapidly changing external factors that influence the choices asset managers need to make, based on the strategic objectives of their organization, and the global market it operates in.<\/p>\n\n\n\n From that point of view, it is recommended to have a more holistic view, as offered by the ISO55000 standard: \u201cAsset management enables an organization to realize value from assets in the achievement of its organizational objectives\u201d and \u201cAn asset management system provides a structured approach for the development, coordination and control of activities undertaken on assets by the organization over different life cycle stages, and for aligning these activities with its organizational objectives.\u201d<\/p>\n\n\n\n