Asset management

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/asset-management

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the lifecycle management?Encompasses planning, acquisition, operation, maintenance, upgrade, and disposal of assets
2. Why do companies need to manage both physical and intangible assets?Because both real things like factories and invisible things like patents are important, and looking after both helps the company stay strong and win over customers.
3. How does asset management help keep things safe and working well?By checking on assets early, companies can fix problems before they break, which saves money, keeps people safe, and makes sure services keep running smoothly.

Total Cost of Ownership (TCO): The sum of all costs associated with an asset throughout its entire lifecycle.
Risk Mitigation: Actions taken to reduce the likelihood or impact of potential negative events.
Sustainability: Meeting present needs without compromising the ability of future generations to meet their own needs.