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Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastructure, buildings or equipment) and to intangible assets (such as intellectual property, goodwill or financial assets).
ISO 55001 Asset management – Management systems – Requirements is a standard developed for the use of people or organizations involved in asset management. [1] This standard was developed by ISO technical committee ISO/TC 251. ISO 55001 was published for the first time in January 2014.
Enterprise asset management (EAM) involves the management of the maintenance of physical assets of an organization throughout each asset's lifecycle. EAM is used to plan, optimize, execute, and track the needed maintenance activities with the associated priorities, skills, materials, tools, and information. [ 1 ]
The PAS gave guidance and a 28-point requirements checklist of good practices in physical asset management; typically this was relevant to gas, electricity and water utilities, road, air and rail transport systems, public facilities, process, manufacturing, and natural resource industries. It was equally applicable to public and private sector ...
A management system is a set of policies, processes and procedures used by an organization to ensure that it can fulfill the tasks required to achieve its objectives. [1] These objectives cover many aspects of the organization's operations (including product quality, worker management, safe operation, client relationships, regulatory ...
International standards in the ISO/IEC 19770 [1] family of standards for IT asset management address both the processes and technology for managing software assets and related IT assets. Broadly speaking, the standard family belongs to the set of Software Asset Management (or SAM) standards and is integrated with other Management System Standards .
Business process re-engineering (launched by Michael Hammer in 1993 [34]): a business management strategy focusing on the analysis and design of workflows and business processes within an organization. BPR seeks to help companies radically restructure their organizations by focusing on the ground-up design of their business processes.
The Workflow Management Coalition, [6] BPM.com [7] and several other sources [8] use the following definition: Business process management (BPM) is a discipline involving any combination of modeling, automation, execution, control, measurement and optimization of business activity flows, in support of enterprise goals, spanning systems, employees, customers and partners within and beyond the ...