An asset management system is comprised of all of the necessary processes, procedures, tools, systems, and methods necessary to meet business objectives in a manner which is controlled, measured, and improved upon.  The system, more often than not, takes on some visual representation as in the graphic below.  The purpose is to provide a simplified understanding of the overall process to meet asset management goals. The utilization of such a system generally allows an organization to develop standardized methods, train on those methods, and measure against the use and success of the methods.  These steps are typically seen as unnecessary …Read more  »