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With the ever growing pressure on organizations to deliver higher levels of output or service performance at lower cost, comes a greater need to understand the discipline of asset management. Whether an organization is in the public or private sector, for-profit or non-profit, top managements find themselves more frequently challenged by questions like: rentability, cost-effectiveness, downtime etc. These sets of information are crucial for choosing the appropriate assets in the first place, and also for their optimal utilization and maintenance.