10. Asset Management

 Asset Management is the maintenance of physical assets in the workplace to ensure acceptably low risk for optimum operability and cost. The maintenance programme describes the maintenance regime for each asset in the asset register. Maintenance and operations personnel must co-ordinate activities to plan and execute the management programme. Inspections of appropriate areas ensure the general condition of assets is maintained. An effective engineering change management process is essential to ensure risks are managed when new assets are introduced. Risk assessments must be conducted when assets are acquired or sold.