An auditing process to improve asset management performance

Abstract

An organisation's maturity in asset management practices and processes can be determined through the application of an asset management audit. The main objective of this study was to develop and validate an asset management auditing methodology. This methodology includes the development of a program for asset management improvement and the application of business process re-engineering (BPR) as a tool to realise the improvement opportunities identified through the audit. The application of an asset management audit, according to the developed methodology, can create a "roadmap" to Asset Management improvement. By optimising the asset management practices and processes, a positive contribution can be made to the profitability of any business enterprise.