asset management

coordinated activity of an organization to realize value from assets

Note 1 to entry: Realization of value will normally involve a balancing of costs, risks, opportunities and performance benefits.
Note 2 to entry: Activity can also refer to the application of the elements of the asset management system.
Note 3 to entry: The term “activity” has a broad meaning and can include, for example, the approach, the planning, the execution and implementation of a plan.

[SOURCE: ISO 55000:2014, 3.3.1, modified — In Note 3 to entry, “theBS EN ISO 19650‑3:2020

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