Recruiter's Glossary

Examples: Kaizen • ISO 55000 • Equipment History

Asset Management

Term from Mechanical Maintenance industry explained for recruiters

Asset Management in maintenance refers to taking care of company equipment and machinery throughout its entire life cycle. It's like having a complete healthcare system for machines - from buying new equipment, scheduling regular check-ups, fixing problems when they occur, to deciding when to replace old machinery. This helps companies save money by preventing breakdowns, extending equipment life, and making smart decisions about repairs versus replacements. It's different from financial asset management, which deals with money and investments. In maintenance, asset management focuses on physical equipment and facilities.

Examples in Resumes

Implemented Asset Management system that reduced equipment downtime by 40%

Led Asset Management program for fleet of 200 industrial vehicles

Developed preventive maintenance schedules using Asset Management software

Coordinated Asset Management and Equipment Management strategies across 5 plant locations

Typical job title: "Asset Management Specialists"

Also try searching for:

Maintenance Manager Equipment Manager Asset Management Coordinator Facility Manager Maintenance Planner Plant Engineer Reliability Engineer

Where to Find Asset Management Specialists

Professional Organizations

Online Communities

Job Resources

Example Interview Questions

Senior Level Questions

Q: How would you develop a comprehensive asset management strategy for a large manufacturing facility?

Expected Answer: Look for answers that discuss analyzing equipment criticality, setting maintenance priorities, budgeting, team coordination, and using data to make decisions. They should mention both preventive and predictive maintenance approaches.

Q: How do you measure the success of an asset management program?

Expected Answer: Candidate should discuss key metrics like equipment uptime, maintenance costs, emergency repair frequency, and return on investment. They should also mention tracking equipment reliability and team productivity.

Mid Level Questions

Q: What factors do you consider when deciding whether to repair or replace equipment?

Expected Answer: Should mention equipment age, repair costs versus replacement costs, downtime impact, parts availability, and maintenance history. Look for practical examples from their experience.

Q: How do you prioritize maintenance tasks with limited resources?

Expected Answer: Should discuss equipment criticality, safety requirements, production impact, and resource availability. Look for examples of scheduling and organizing maintenance activities.

Junior Level Questions

Q: What is preventive maintenance and why is it important?

Expected Answer: Should explain that preventive maintenance involves regular check-ups and service to prevent breakdowns, like changing oil or inspecting parts. Should understand how it saves money and time compared to emergency repairs.

Q: How do you document maintenance activities?

Expected Answer: Should describe basic record-keeping practices, including work orders, maintenance logs, and equipment history. Should understand the importance of accurate documentation.