How do financial assets relate to managing physical assets?

PAS 55

This Publicly Available Specification for Asset Management relates essential financial assets to how physical assets are well managed.

As they relate to physical assets, financial resources are required for infrastructure investments, operations, maintenance, materials and services. There's a limited amount to go around. Getting a good handle on CapEx and OpEx is essential for the management team to be able to operate the business and make solid decisions about the future.

Important financial considerations are life cycle costs, capital investment criteria, operation costs, and the value of asset performance.

Operating costs and capital budgets are driven by long term asset plans. The Strategic Asset Management Plan (SAMP) driven by your organization's business plan drives the tactical Asset Management Plans for the next 1-3 years for your physical assets. FORTIG connects these dots in end-to-end business processes with top-to-bottom integrity. Check it out!