Towards an Asset Management Reference Model: Basis for a Unified Approach

Asset Management is a concept that has a very wide range of uses and different levels of maturity across diverse industrial sectors and regions. Because of this, there is lots exists a large amount of variation in the concepts and the terminology used. In discussing the concept of asset management, the asset management professionals tend to adhere to their own definitions. This situation is an impediment to bringing the concept further, and can mostly be attributed to the fact that framing an improvement in one specific approach or terminology may render it virtually inapplicable in another context. In other words, quite comparable approaches and concepts have to be invented over and over again. To prevent the chaos and in order to provide the basis for a unified resolution, a system level reference model for translating improvements into other realms would be very helpful. In this paper, the outline of such a reference model is developed.