For a certainty, physical asset management is one of the keys to plant profitability-perhaps even the most important one.Much has been written about the topic, but John Mitchell's Fourth Edition Physical Asset Management Handbook again follows the author's tradition by giving both focus and direction to a seemingly overwhelming and broad subject.

Mitchell's handbook does not fit the common finding "when it's all said and done, more has been said than done."By showing what the best of the best have been doing, this outstanding text goes well beyond the general philosophizing and adds value by presenting considerable experience-based detail. In doing so, the book again exceeds expectations by presenting facts rather than mere general concepts. It thereby allows others to become doers instead of philosophizers.

In this text, definition, objectives, benefits and opportunities are first outlined and then explored, explained, and analyzed for the serious maintenance manager and reliability professional. With outstanding clarity,Mitchell's handbook explains program necessity and optimization principles, major program elements and current best practices, implementation examples and financial results. Probably the foremost expert on asset management,Mitchell selected 10 contributors who clearly understand both theory and practice. He then organized much of

their collective work into a true handbook that delineates benchmarking and data gathering issues, condition assessment technologies, fundamentals of lubricating fluid analysis and asset optimization case histories from companies representing petrochemicals, power generation, pharmaceuticals, and others. Time and again, this neatly revised and thoroughly updated handbook emphasizes the practical aspects of asset management–and does so at a time when practicality is more important than ever before.

In essence, John Mitchell again proves that he's uniquely equipped to combine decades of practical experience with feedback from the participants of his popular public and in-plant asset management workshops in the United States and many other countries.He obviously achieved his goal of incorporating this feedback into the Fourth Edition text. As was the case with previous editions, Mitchell's handbooks have become the "Gold Standard"in the field of asset management.

We found the text a true pleasure to read. It will certainly add understanding to managers and reliability professionals interested in optimizing profits by navigating safely through the challenges and trials facing industry today. That being the case, the book should not be missed by anyone aiming for optimized asset performance and sustained profits. MT

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