The Economic Management of Physical Assets

Physical assets (buildings, machinery, production lines, service equipment and technological hardware), are costly to run, maintain and operate. All businesses need to plan and manage their assets in the most economically advantageous way. Despite this, many of those responsible have little experience or training in the techniques required. The concepts of economic management, such as resource management, life cycle costing and through life costing, must be fully understood to ensure that the user of the assets gets the very best possible value for his money.