A vital element underpinning successful asset management, are .

All listed elements are essential:

Competencyensures individuals and teams possess the required knowledge and skills.

Consistencyin applying standards and procedures ensures repeatable and reliable outcomes.

Optimal decision-makingbalances cost, risk, and performance to deliver best value.

Exact Extract from IAM – Asset Management: An Anatomy (v4), Section 5.1 – Asset Management Capabilities:

“Capability in asset management comes from consistent systems, competent people, and informed, optimized decision-making.”