Asset management refers to systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycle.
Security For Asset Management
Asset management is a systematic process of developing, operating, maintaining, upgrading, and disposing of assets in the most cost-effective manner (including all costs, risks and performance attributes).
The term is commonly used in the financial sector to describe people and companies who manage investments on behalf of others. Those include, for example, investment managers that manage the assets of a pension fund. .
It is also increasingly used in both the business world and public infrastructure sectors to ensure a coordinated approach to the optimization of costs, risks, service/performance and sustainability. The International Standard, ISO 55000, provides an introduction and requirements specification for a management system for asset management.
The most common usage of the term “asset manager” refers to investment management, the sector of the financial services industry that manages investment funds and segregated client accounts. Asset management is part of a financial company which employs experts who manage money and handle the investments of clients.
Infrastructure asset management is the combination of management, financial, economic, engineering, and other practices applied to physical assets with the objective of providing the best value level of service for the costs involved. It includes the management of the entire life cycle—including design, construction, commissioning, operating, maintaining, repairing, modifying, replacing and decommissioning/disposal—of physical and infrastructure assets