Enterprise Asset Management

Enterprise Asset Management (EAM) means the whole-of-life optimal management of the physical assets of an organisation in order to maximise value. It covers such things as the design, construction, commissioning, operations, maintenance and decommissioning/replacement of plant, equipment and facilities and incorporates all business processes and enabling information systems that support management and optimisation of an organisation’s physical assets, (or ‘tangible’), and non-physical, (‘intangible’) assets. “Enterprise” refers to the management of the assets across departments, locations, facilities and, in some cases, business units. By integrating management of assets across operations, organisations can improve utilisation and performance, reduce capital costs, reduce asset-related operating costs, extend asset life and subsequently improve ROA (return on assets).