Application of a unified reference model across asset types: Comparative cases

Abstract

Asset Management has grown over the last few years and has begun to use many terminologies and concepts across different applications. This has had notable negative effects on the further growth of the discipline, as the present conditions only contribute to complexity and chaos rather than leading the way toward a commonly acceptable approach. In this context, a common reference model becomes extremely useful that can provide the necessary elements which can be capitalized for learning and development efforts for wider applications. The issue here is to get the principles intact that has comparable and defining features across many contexts. In this respect some initial efforts were invested to develop an approach for a unified asset management reference model. This paper brings further work on this reference model into perspective by discussing the application of the reference model across different asset types. The purpose here is to communicate the potential of such a unified approach as a valuable foundation to build on.