This document introduces methods and procedures when applying physical asset management as a framework to take maintenance into account as an influencing factor within an organisations strategic and tactical decisions on its physical assets, and when applying physical asset management as a framework to maintenance activities. It also introduces the relationship between organisational strategic plan and the maintenance management system at a methodological level and describes the interrelations between maintenance process and all the other physical asset management processes at a procedural level. This document may be applied to managing the physical assets of organisations of all sizes. It introduces methods and procedures for all the levels and functions of the organisations management such as corporate planning management, plant management, technical management, production management, financial management, asset management, maintenance management, quality management etc. The focus of the document is at the asset portfolio and system levels and consists of guidance and recommendations. It is not intended to be used for certification, regulatory, or contractual use. However, if specific documents exist for a particular application, those documents should also be considered. NOTE Typical examples for asset systems or composition of asset systems are production processes, production lines, production units, plant with several production lines.