![]() This balancing is continuous, happening over the entire life cycle of the asset from planning and acquisition to retirement. It is a multi-disciplinary approach that involves the balancing of costs, opportunities and risks against the desired performance of assets, to achieve the organizational objectives. One example is the Computerized Maintenance Management System (CMMS) that is used for maintenance work management and accruing costs to assets.Īsset Management – The set of coordinated activities of an organization to realize value from its assets. A single organization has several asset information systems that may or may not be interfaced with each other. ![]() ![]() Acceptance Certificate (AC) – Formal documentation signed off by the consultant or owner, confirming that equipment meets specification requirements and can be handed over to the owner.Īir System – Mechanical piping to distribute pressurized air throughout the plant.Īsset Information System – The hardware and software comprising systems, network, architecture, infrastructure, interface used to manage asset data and information. ![]()
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