Name: | Asset Management Concept Model
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Acronym: | |
Type: | Glossary Item |
Definition:
The Asset Management Concept Model documents the basis of asset management. The model’s intent is to serve as a conceptual framework from which the foundational elements of asset management can be identified, documented and implemented.
The Asset Management Concept Model consists of four key principles, connected by a set of processes within which a Plan Do Check Act approach is implemented. These are encased by a 'Stakeholder Circle'.
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