This paper summarizes the experiences of many organizations in migrating from an asset care (maintenance) culture to a whole life cycle asset management approach, and the benefits obtained from this transformation. It will explain the evolution of the modern discipline, and the practical steps that can be taken to break down the barriers between departments, take a long-term strategic view (instead of short-term, cost-only view) and make better risk-based decisions to justify what is worth doing, and when.
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