August 15, 2023
Whole-of-life asset Management – Is it relevant?
In facility and asset management, the term "whole-of-life" encompasses the comprehensive cost of ownership over an asset's lifespan, including maintenance, financing, design, and disposal. Despite its logic and influence on decision-making, successful implementation of this approach remains a challenge, often due to shifting client expectations and the need for consistent factors like maintenance attitudes and budgets. However, when these constants are upheld, along with industry best practices, a whole-of-life maintenance program can lead to long-term savings, countering short-term reactive approaches and enhancing asset reliability and value.
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