Strategy — Maintenance, Capital and Risk

This paper presents various methodologies and issues associated with a total asset management process that embraces the use of capital and maintenance expenditure to ensure assets meet the full spectrum of operational requirements, including safety, performance and return on investment. The broad range of issues associated with implementing asset management mean that the work must be conducted within a cohesive framework, even though different elements may have little in common with each other. Pervading the entire process is a risk management process that is a function of the condition of the asset base and the responsiveness to identified needs.