The New Asset Management Handbook

If an asset is something that has actual or potential value to an organization, then this book is an asset to you and your organization. Some of the same people who shaped ISO55000, the current international asset management standard, share their knowledge and experience in this book. The aim of this work is to create a new way of thinking about how your organization manages its assets. Traditionally, the assets themselves directed reactive decisions at all levels of an organization based on the latest data or incident. Business analysts agree that reactive asset management decisions are usually not financially optimized. The simple translation is that there is tremendous opportunity for meeting the triple bottom line of financial opportunity, environmental sustainability and social responsibility through asset management. The asset management approaches expressed in the New Asset Management Handbook are designed to connect top management to the physical asset base using a concept called line of sight. Asset management frameworks require that value and acceptable risk be defined and understood at all levels of the organization. This provides the alignment in decision-making at all levels of the organization to deliver value from assets at an acceptable risk level.The revised edition of this handbook has divided the text into topic sections so the reader has a clearer understanding and focus. The sections are: Introduction, Line of Sight (alignment), Derived Value and Financial Impact, Asset Management Enablers,and Case Study