Inspection
Work Planning
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The coordinated management of an asset throughout its entire lifecycle to maximize value, performance and sustainability.
Life Cycle Management is the systematic planning, execution and optimization of activities throughout an asset's lifecycle, from concept and design through operation, maintenance and disposal. It integrates engineering, operational, financial and risk considerations to maximize asset value, reliability, safety and sustainability while supporting organizational objectives.
Life Cycle Management provides a structured approach for managing assets throughout their entire lifecycle to achieve long-term business objectives.
Life Cycle Management forms a fundamental principle of ISO 55000 asset management by considering the long-term performance, cost and risk associated with assets across all lifecycle stages.
Life Cycle Management governs how assets are managed throughout their lifecycle, whereas Life Cycle Cost evaluates the financial cost associated with that lifecycle.
Asset Management; Project Management; Reliability Engineering.
Asset-intensive industries.; Infrastructure.; Manufacturing.; Utilities.; Oil and gas.
ISO 55000; ISO 55001
VisualAIM connects glossary concepts to the asset records, inspection histories, and workflows they describe.
