Purpose of the Information Management Process:

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• Defining asset management strategies and plans

• Implementing asset management plans

• Managing the asset life-cycle

• Acquiring and managing asset knowledge

• Managing the organization and its human resources

• Managing and reviewing risk
   

Benefits of Asset Management:

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• Optimizing and prioritizing asset management strategies and plans for future projects

• Assessing the financial benefits (CAPex and OPex)

• Determining the operational and financial impacts of asset unavailability or failure

• Making life-cycle cost comparatives of alternative capital investments

• Identifying expiry of warranty periods

• Determining the end of an asset's economic life

• Obtaining asset maintenance / replacement values

• Undertaking financial analysis of planned income and expenditure​