Asset Lifecycle Management
Asset Lifecycle Management is a comprehensive approach to managing the entire life cycle of an asset, from acquisition to disposal. It involves the planning, tracking, and optimization of an asset’s performance, cost, and risk throughout its entire life cycle. ALM is used to ensure assets are used efficiently and effectively. ALM includes activities such as asset acquisition, maintenance, repair, replacement, and disposal. It also includes the management of asset data, such as asset location, condition, and performance. ALM is an important part of maintenance operations and management, as it helps to ensure that assets are properly maintained and their value is maximized.