From another point of view, individuals and businesses may also manage paper assets and personal wealth with a solid asset management plan.
In the case of transportation or paper assets, the management process must have clearly defined objectives.
By another definition, asset management involves a very structured plan for using assets as tools to produce a benefit.
Asset management techniques have been applied to dozens of business types, including such seemingly mundane services as highways and other traffic infrastructure.
At its most basic level, an asset management plan should provide for identifying each asset, efficient use of each asset, and removal of the asset from the company books at the proper time. The key, for most asset management professionals, is making sure that the company’s assets are moved and controlled in a cost-effective manner.
Of course, individuals with a keen sense of organization must also contribute to efficient management of assets.
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