A risk-based asset management (RBAM®) strategy can help optimize your physical assets while preserving their capital value, optimize your maintenance schedule for increased asset uptime, and meet stakeholder requirements. It’s also a critical step in building a strong foundation for digital transformation (sometimes referred to as Industry 4.0).
This white paper explores the importance of asset management, presents the asset life cycle stages and cost implications, outlines a risk-based asset management strategy and explains the five phases of a risk-based asset management implementation model.
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