Asset Life Cycle
Asset Life Cycle is the process of managing an asset from its acquisition to its disposal. It includes the planning, acquisition, operation, maintenance, and disposal of an asset. The Asset Life Cycle is an important part of Maintenance Operations and Management, as it helps to ensure that assets are properly maintained and managed throughout their life. It also helps to ensure that assets are disposed of in an environmentally responsible manner. The Asset Life Cycle includes activities such as asset tracking, asset maintenance, asset replacement, and asset disposal. It also includes the development of policies and procedures to ensure that assets are managed in a cost-effective and efficient manner.