This book presents a systematic approach to the management of physical assets from concept to disposal building upon the previous editions and brought uptodate with the new international standards ISO55002 and ISOTS50010. It introduces the general principles of physical asset management and covers all stages of the asset management process including initial business appraisal identification of physical asset needs capability gap analysis financial evaluation logistic support analysis life cycle costing strategic asset management planning maintenance strategy outsourcing costbenefit analysis disposal and renewal. Features includeproviding a textbook for asset management courses to university levelrelating closely to the ISO55000 international asset management standard seriesproviding a basis for the establishment of physical asset management as a professional discipline andpresenting case studies analytical techniques and numerical examples with solutions.