Asset Lifecycle Management
The systematic management of physical assets from acquisition through operation, maintenance, and disposal — maximizing value while controlling cost and risk.
Why it matters
Asset lifecycle management is where PLM and BIM converge in practice. Industrial facilities require both disciplines to manage their full lifecycle effectively.
Related concepts
External References
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Cite this definition
Finocchiaro, Michael. “Asset Lifecycle Management.” DemystifyingPLM PLM Glossary, 2026, https://www.demystifyingplm.com/glossary/asset-lifecycle-management