What is Asset Management?
Asset Management is the systematic process of developing, operating, maintaining, upgrading and disposing of assets in the most cost-effective manner, considering all costs, risks and performance requirements.
Asset Management (Facility Asset Management)
Technical Definition: A systematic process for developing, operating, maintaining, upgrading and disposing of assets in the most cost-effective manner, accounting for all costs, risks and performance requirements. In buildings and industry this means full control over everything from individual sensors and pumps to entire building structures, often structured according to international standards such as ISO 55000.
Why it matters: Unmanaged assets create unforeseen costs. With proper asset management you make data-driven decisions about when to maintain, upgrade or replace – before failure occurs. This shifts maintenance from reactive to proactive.
HubMind’s view: We structure your asset data so that maintenance teams and management share the same clear picture – from the individual valve to the entire portfolio.
Want to know more about Asset Management?
HubMind helps you understand and apply Asset Management in your facility.