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This book covers all stages of the asset management process, including: initial business appraisal, identification of fixed asset needs, financial evaluation, logistic support analysis, maintenance, outsourcing, cost-benefit analysis, disposal and renewal.

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Physical asset management is the management of fixed or non-current assets such as equipment and plant. Physical Asset Management presents a systematic approach to the management of these assets from concept to disposal.

The general principles of physical asset management are discussed in a manner which makes them accessible to a wide audience, and covers all stages of the asset management process, including: initial business appraisal; identification of fixed asset needs; financial evaluation; logistic support analysis; life cycle costing; maintenance strategy; outsourcing; cost-benefit analysis; disposal; and renewal.

Physical Asset Management addresses the needs of existing and potential asset managers, and provides an introduction to asset management for professionals in related disciplines, such as finance. The book provides both an introduction and a convenient reference work, covering all the main areas of physical asset management.

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1. Introduction to Asset Management
2. The Asset Management Function
3. From Concept to Project Approval
4. Developing a Business Case
5. Implementing Development Plans
6. Management of In-Service Assets
7. Asset Continuity Planning
8. Capital Planning and Budget
9. Discounted Cash Flow and Asset Decisions
10. Profit, Depreciation and Tax
11. Assessment Investment Criteria
12. Cost-Benefit Analysis
13. Risk Analysis and Risk Management
14. Logistic Support
15. Life Cycle Costing
16. Equipment Replacement Decisions
17. Outsourcing
18. Know Your Assets
19. Asset Management Information Systems
20. Maintenance Organization and Budget
21. Reliability, Availability, Maintainability
22. Inventory
23. Key Performance Indicators
24. PAS-55 Asset Management Specification

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From the reviews:

"This book is authored by a person, who has worked in British Army, in the industry as well as in the university environment, can be very helpful to any organization or business and particularly to managers whose concern is to maintain their physical assets. This very well-written book presents all aspects of physical assets management in a very friendly and simple language understandable even to a non-specialist and its usefulness is not restricted to a particular type of industry. This is applicable to even government or defence organizations as well. This reviewer recommends this to all of them." K.B. Misra, Editor-in-Chief, International Journal of Performability Engineering (May 2010) Vol. 6, No. 3

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Nicholas Hastings is currently adjunct professor at the Queensland University of Technology´s Centre of Integrated Engineering Asset Management. He is also a consultant in engineering asset management for Albany Interactive Pty. Ltd.

Dr Hastings began his career with the British Army´s Royal Electrical and Mechanical Engineers, before joining the Department of Engineering Production at the University of Birmingham, where he completed his PhD in operations research. He then became Professor of Operations Research at Monash University (Melbourne) prior to joining the Queensland University of Technology. In 2006 he was awarded the Medal of the Maintenance Engineering Society of Australia / Asset Management Council of Australia for his contribution to reliability and engineering asset management.

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