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Asset Management
Published in Rajkumar Banoth, Narsimha Gugulothu, Aruna Kranthi Godishala, A Comprehensive Guide to Information Security Management and Audit, 2023
Rajkumar Banoth, Narsimha Gugulothu, Aruna Kranthi Godishala
An asset is an item of value. An asset is defined as “Any item of economic value owned by an individual or corporation”. It can be referring to items such as buildings, utility infrastructure such as electrical cables, water pipes, rail lines, and metro tunnels, and industrial assets such as oil rigs, chemical plants, and process plant conveyors. Asset and data management is based on the idea that it is important to identify, track, classify, and assign ownership to the most important assets in the organization to ensure they are adequately protected. Tracking the inventory of IT hardware is the simplest example of asset management. Knowing what you have, where it lives, how important it is, and who's responsible for it. An information asset is an item of value containing information. The same concepts of general asset management apply to the management of information assets (e.g., data). To be effective, an overall asset management strategy should include information assets, software assets, and information technology equipment. In addition, the people employed by an organization, as well as the organization's reputation, are also important assets not to be overlooked in an effective asset management strategy.
Relevance of Maintenance Function in Asset Management
Published in Diego Galar, Peter Sandborn, Uday Kumar, Maintenance Costs and Life Cycle Cost Analysis, 2017
Diego Galar, Peter Sandborn, Uday Kumar
Good asset management provides the information needed to improve decisions on physical assets, information technology (IT) infrastructure, internal controls, and financing needs. The resulting insights may allow asset owners to better quantify and anticipate the impact of future decisions and/or regulations on ROAe. Good asset management contributes to the identification of cost and investment opportunities, such as fine-tuning the maintenance budget. In addition, it underpins the calculation of different kinds of valuation exercises for the entire asset base.
The Case for Digital Asset Management
Published in David Austerberry, Digital Asset Management, 2012
Asset management can have subtle benefits: turnaround time on projects is reduced; the workflow management can cut down the level of errors in content; staff become better informed through easier access to information, and management get better reporting on content utilization.
Managing physical assets: a systematic review and a sustainable perspective
Published in International Journal of Production Research, 2023
Georgiana Sandu, Olga Varganova, Behzad Samii
For instance, asset-intensive businesses aim to efficiently coordinate asset-related activities, including technical support and development, procurement, human resources, finance and accounting, IT, to support the different asset life cycle stages. Nonetheless, for enhanced effectiveness of adopting an AMS framework, elements including information system, knowledge and experience, enterprise culture and incentives need to be considered. Other aspects that are likely to play a role include risk scenario analysis, standardised communication interface with stakeholders, well-defined key performance indicators, value chain perspective, and changing customer needs. Ultimately, the asset management system principles are implemented via software platforms that collect, analyse data from physical assets, and help make informed decisions to establish business priorities. The literature has many examples of intelligent asset management platforms or asset control centres, smart maintenance, and e-maintenance software solutions (Bokrantz et al. 2020a; Crespo Marquez et al. 2020; Nordal and El-Thalji 2021).