The second principle is "capabilities". Capabilities are inherent in organisations and assets alike.  To achieve outputs requires capabilities. Asset management is not about the physical asset itself – it is about what the asset can do - the asset’s capability.

The achievement of the required output will usually require, not only requisite asset capability, but also other enabling capabilities such as operating instructions and maintenance and spares.  These support capabilities are themselves enabled by other enabling capabilities such as finance, human resources, information technology and corporate guidance.  

When establishing the need for enabling capabilities it is critical to link them to the output intent within the operating context. Thus, a maintenance task from an Original Equipment Manufacturer may be of little value if the context of use of the asset is not known or is significantly different from its original context of use.