An asset can be defined as anyone owned by an personel that has a cash value, along with property, goods, savings, and investments. Asset management, therefore, refers to the management of the assets by money managing teams. Though the major emphasis is on managing the investment portfolios of a company, asset management also includes management of bodily assets such as money, tool and property, as also the non-tangible assets such as data and the workflow processes.
Assets, in any market set up, comprise the monetary investments, plants, infrastructure and its human resources. Asset management is, therefore, a process that aims at the optimum utilization of resources for maximum returns at the minimum investment or costs.
Network Management System
The first priority of any asset management team is to identify the company's 'assets' or resources. Once these are identified, the team can then focus on the enterprise process or, in other words, understand the functioning of the tangible or non-tangible assets, which can be any of the following.
Preparing the monetary investment portfolios is an important aspect of asset management. The investment portfolios give a clear photograph of the income- expenditure ratio, as well as the financial status of a company. Based on the study, the asset management team can remove deficiencies, or modify the investment structure to maximize returns.
Property, plant, and tool are the tangible assets of the company. Asset management involves the study and determination of the actual property on which the plant is built and all the tool that is required to run the business. Plant and tool need productive management. Their depreciation values needs to be studied. Their determination helps the team to arrive at a decision whether to fix or replace machinery in order to sell out running costs.
Human Resources comprise the non-tangible resources of the company. Managing human resources involves learning individuals, departments; divisions, planning for revising of skills, improving ease level and security, and, thereby evolving a procedure for maximum yield by the employees.
Asset administration
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