Good physical asset management is about making sure our physical assets do what we want them to do at optimum operating cost and tolerable levels of risk to safety, our environment and to your business.
Managing physical assets to achieve that in an industrial setting involves much more than simply buying and running a piece of equipment. It will probably last a long time and suffer breakdowns that require repair. Of course a more reliable design will suffer fewer failures and be more available to do its work.
Doing all this successfully involves good engineering, maintenance, operation and information management. It is management of those physical assets and all that accompanies them to deliver sustained value to your business – after all, that’s what you invest good capital funding to provide.
We call getting it all right so that there are “no surprises” good Capital Asset Management™.
We’ve described this whole concept of Capital Asset Management™ in depth in our new book, “No Surprises”.