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Asset Management refers to the systematic process of developing, operating, maintaining, upgrading, and disposing of assets in a cost-effective manner. It encompasses the integration of financial management, economic forecasting, and business strategy to maximize the value of an organization's assets over their lifecycle. The goal of asset management is to ensure that assets are used efficiently and effectively to meet the organization's objectives while minimizing risks and costs. This includes establishing policies, procedures, and systems for managing assets, as well as monitoring and reporting on asset performance. Ultimately, effective asset management can help organizations improve their financial performance, reduce risks, and enhance their overall sustainability.