The Economic Management of Physical Assets

Physical assets (buildings, machinery, production lines, service equipment and technological hardware), are costly to run, maintain and operate. All businesses need to plan and manage their assets in the most economically advantageous way. Despite this, many of those responsible have little experience or training in the techniques required. The concepts of economic management, such as resource management, life cycle costing and through life costing, must be fully understood to ensure that the user of the assets gets the very best possible value for his money. Using clear and non-technical jargon, this book provides an understanding of the main principles and practices of terotechnology. Written for all levels of professional staff, it not only provides guidance to middle managers who have to suggest, promote or control developments in their firm or organization, but also gives senior managers a guide to promoting a more economically-aware staff.