An asset can be defined as anything owned by an individual that has a cash value, including property, goods, savings, and investments. Asset management, therefore, refers to the management of the assets by money managing teams. Though the major emphasis is on managing the investment portfolios of a company, asset management also includes management of physical assets such as money, equipment and property, as also the non-tangible assets such as information and the workflow processes.

Assets, in any commercial set up, include the monetary investments, plants, infrastructure and its human resources. Asset management is, therefore, a process that aims at the optimum utilization of resources for maximum returns at the minimum investment or costs.

The first priority of any asset management team is to identify the company