Asset Management requires a lot of discipline and organization to manage the various points articulated in ISO 55000 the standard for Asset Management Systems. While not every organization considers this as a certification journey, every organization benefits from applying the principles of Asset Management described in ISO 55000 if applied in a fundamental and structured way.

While Asset Management disciplines span cradle to grave, most of the lifetime of an asset is during its operational lifetime when the asset maintenance strategy (a.k.a. maintenance strategy) and the work execution management cycle (WEM) dominate the assets success.

One size does not fit all, OEM recommendations are often not optimized for our specific operational context, and we have found fundamentally that some Asset Strategy Management (ASM) methods cannot successfully be applied in the same organization on the same make and model of an asset when their optimization and application is dependent upon local factors, currencies, spares logistic costs, and site maturity to name a few.