Asset Management is the process of guiding the acquisition, use and decommissioning of assets to make the most of their service delivery potential and manage the related risks and costs over their entire life.

Pressure for public sector organizations to function and perform as fiscally responsible businesses continues to increase. Infrastructure systems are expanding and becoming more complex and their reliability is becoming more essential. This is not simply doing more for less, rather it is applying proven business techniques to improve responses to increasing community demands.