Inspection
Work Planning
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The individual or organization that has formal accountability for the performance, lifecycle and governance of a physical asset.
The Asset Owner is the person, department or organization with overall responsibility and accountability for ensuring that an asset delivers its intended business value throughout its lifecycle. The Asset Owner establishes performance expectations, approves maintenance and investment strategies, manages operational risk and ensures compliance with organizational and regulatory requirements.
Identifying a clear Asset Owner improves accountability, supports effective lifecycle decision-making and ensures that engineering, maintenance and operational activities remain aligned with business objectives.
The Asset Owner provides governance over an asset throughout its lifecycle and works closely with Operations, Engineering, Maintenance and Reliability teams. Asset ownership should be clearly defined within the organization's asset management framework.
Asset Owner refers to organizational accountability rather than legal ownership. Responsibility for operating or maintaining an asset may be delegated while overall ownership remains unchanged.
Enterprise Asset Management; Asset governance; Capital projects; Maintenance management; Regulatory compliance; Operational management.
Assigning ownership for major process units.; Approving equipment replacement decisions.; Reviewing asset performance metrics.; Managing lifecycle investment plans.
ISO 55000
VisualAIM connects glossary concepts to the asset records, inspection histories, and workflows they describe.
