An organization is nothing but an asset and eachasset has got potential or actual value to an organization. The Asset could beof any type and acquisition / creation / renewal, operation, maintenance andreplacement / disposal of the assets that make up any organization’s infrastructureis a constant and ongoing task. To efficiently manage this important part of an organization’s business, it is essential to have understanding of the conceptof Asset Management.
An asset management system is needed to coordinate andcontrol activities undertaken on assets by the organization over different lifecycle stages, and to align these.