Physical Asset Management

Expanded and revised in light of the emerging international standard ISO55000, Physical Asset Management offers a systematic framework for managing physical assets throughout their entire life cycle - from initial concept to final disposal. The book lays out the general principles of physical asset management and guides the reader through key stages including early business appraisal, identification of fixed asset needs, capability gap analysis, financial evaluation, logistic support analysis, and life cycle costing. It further addresses the management of in-service assets, maintenance strategies, outsourcing, cost-benefit analysis, disposal, and renewal, covering the management of equipment, plants, buildings, and infrastructure. Enhanced with practical case studies, analytical techniques, and numerical examples complete with solutions, this comprehensive text is an essential resource for both practitioners and students. It is ideally suited for advanced undergraduate and postgraduate courses and also serves as a valuable reference for engineers and managers involved in asset management, reliability, maintenance, logistics, or systems engineering.