- Planning and Acquisition: Determining the assets to be procured in alignment with organizational needs and financial strategies.
- Operation and Maintenance: Overseeing daily operations, which encompasses monitoring, conducting inspections, and implementing preventive maintenance measures.
- Repair and Refurbishment: Handling repair requests and maintaining records of asset conditions.
- Replacement and Disposal: Recognizing when an asset has reached the end of its useful life and overseeing the disposal process.