coordinated activity of an organization to realize value from assets
Note 1 to entry: Realization of value will normally involve a balancing of costs, risks, opportunities and performance benefits.BS EN ISO 19650‑3:2020
Note 2 to entry: Activity can also refer to the application of the elements of the asset management system.
Note 3 to entry: The term “activity” has a broad meaning and can include, for example, the approach, the planning, the execution and implementation of a plan.
[SOURCE: ISO 55000:2014, 3.3.1, modified — In Note 3 to entry, “the
« Back to Dictionary Index
RIBA Plan of Work 2020:« Back to Dictionary Index