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Name: Asset Operations
Acronym:
Type: Glossary Item


Definition:
Asset Operations encompasses the policies, processes, procedures used by an organization to operate their assets and achieve Asset Management strategic objectives.

Statement:
Asset Operations provides a framework for communicating instructions on how to operate the assets within their design, maintenance, operational, reliability, safety, environmental and legal parameters.
 
Asset operations includes the development and management of a relevant asset operations strategy and supporting plans to define the approach, and resources required for operations to ensure that the asset and or asset system that:
 
  • meets functional requirements.
  • are operated within the required service level and operating parameters (as designed/specified).
  • meet legal and technical requirements such as health, safety and environment, security, and reliability.
  • achieve and sustain defined levels of physical, functional, and financial performance.
  • provide rationale, data, and evidence for continuous improvement.



Resource:
  • Reference
    • The Asset Management Landscape ISBN 978-0-9871799-1-3

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