Nowadays, computerized asset management is possible
thanks to the technical revolution in computers, automated
data collection, testing equipment, design procedures,
analytical tools, and so on (Woodhouse, 2006). Most of the
existing management systems function at the operation level
and focus on a particular asset. Asset management is
dependent on technology in two key areas. The first area
comprises the collection, storage, and analysis of data. Data
can then be stored, retrieved, and analyzed with powerful
data servers and software. The second aspect of technology
concerns the presentation and communication of the
analytical results to decision-makers inside and outside the
plant.