Measuring the performance of asset management systems

Performance measurement of asset management systems remains a poorly understood area both in terms of industrial practice as well as academic research. Continuous improvement of asset management systems require a robust performance measurement system that will allow organisations to understand the performance of various elements within the asset management system - thereby ensuring that (i) organisational KPIs and targets are achieved; and (ii) corrective actions in terms of “fine tuning” those elements of the asset management system that are not performing well. This paper will answer the following questions regarding the measurement of the performance of asset management system and how this can be linked back to business performance: (1) What is the state of play of performance measurement for asset management systems? (2) How to develop performance measures for organisations' asset management systems?