Asset Management is the process of managing physical assets to ensure they are used efficiently and effectively to meet an organization's goals. It involves the identification, acquisition, maintenance, and disposal of assets in order to maximize their value and minimize their costs. Asset Management includes the tracking of assets, the monitoring of their performance, and the optimization of their use. It also involves the development of strategies to ensure the assets are used in the most efficient and cost-effective manner. Asset Management is an important part of Maintenance Operations and Management, as it helps to ensure that assets are properly maintained and used in the most efficient way possible.