Asset Life Cycle Management is a strategic approach to managing physical assets over their complete life cycle. However, the literature and the recent ISO 55,000 standard do not offer guidance as to how to develop such an approach. This paper investigates the main capabilities for Asset Life Cycle Management by means of a four year Action Research project implementing Asset Life Cycle Plans. Five main capabilities emerged: 1. strategic information use; 2. alignment of operations and strategy; 3. alignment of different disciplines; 4. a dual time perspective and 5. exerting influence over the assets throughout the entirety of the organization.
free text keywords: Asset Management, Asset Life Cycle Management, alignment, Action Research, Asset Life Cycle Plan, Asset Management Plan, Capability, Capability building