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17

Value

Value is one of the four core principles of asset management.


DefinitionValue is defined by the dictionary as the worth in usefuleness, importance, utility or monetary exchange of an asset to the owner group.  

Asset management is about realizing the value from assets.


Process
Value is determined by understanding the following:


Management of Value
Value is achieved through the following principles


See also:
  • Function
  • Functionality
Compare with:
The four core principles of asset management are the foundation of ISO 55001 (ISO 55000)
Fig. The four core principles of asset management (including value) are the foundation of ISO 55001.


Stakeholder requirements converted into value
Fig. Stakeholder requirements converted into value.


The four core principles of ISO 55000 (value, alignment, leadership and assurance) in action
Fig. The four core principles of ISO 55000 (value, alignment, leadership and assurance) in action.

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