What should be included in the scope of an asset management system?

• A. Only significant assets
• B. All significant assets, organization's units, locations, and contractual boundaries
• C. All assets regardless of significance
• D. Only assets within owned facilities

Answer: (B)

Scope sets the boundaries for what the asset management system must govern across the business. It should include all significant assets, plus the organizational units that own or operate them, the locations where they exist, and the contractual boundaries that define responsibilities and service expectations. This combination ensures we manage assets where it truly matters (significant ones) while capturing the context in which they operate—who is responsible, where the assets are, and how external arrangements affect maintenance, risk, and performance. Limiting scope to only owned facilities or to all assets regardless of significance would create blind spots: important assets in other units or locations, or under outsourced or leased arrangements, may fall outside the system’s governance and data, leading to gaps in decision-making and control. Including the organizational, geographic, and contractual context ensures consistent data, clear accountability, and proper coordination across the entire asset landscape.