asset management, based on their experience and discussion with clients. The business case included the benefits, the effort required to implement them and their financial impact. The claim is made that benefits can add up to 15% of the total spending portfolio by better decision-making and another 5% by improving efficiency (including the service provider).

Outline business case of Schippers and Dik is used in Chapter 10 Business case

According to Hodkiewicz (2015), the evidence for asset management is currently largely based on anecdotal evidence and the prescriptions of consulting organisations and industry associations. Hodkiewics points out that the claims for improved asset performance and financial performance by the ISO55001 standard should be substantiated with scientific evidence. A study for such evidence should include measuring the costs of asset management and demonstrating that asset management practice delivers the organizational outcomes.

In the Netherlands a study has been performed among 30 asset managers from organisations managing infrastructures for energy, transportation, water and communication. Result showed that while they all had an asset management system implemented, it had not brought them beyond the first promising steps. (Wijnia and Herder 2010). The study aimed towards finding the key issues for not reaching these benefits across all sectors. The key issues were found to be:

• Asset Management not being at implemented at strategic level. The focus should be on what can be accomplished with the current assets instead of reducing operational costs. In addition organizational objectives should be translated into day-to-day applicable internal targets and asset performance criteria;
• A paradigm shift has to occur from the “old” maintenance principles to life cycle costing;
• Performance models to predict future performance of the assets and their maintenance needs are not used, as many people consider the models as too theoretical;
• The lack of recognition of the importance of non-technical issues like economics and social elements.

A study among the Dutch grid operators has been performed in 2014. It became apparent that while they have registered positive effects on the internal organizational effectiveness, the increased financial and asset performance as a result of implementing an AMS were not gathered among the most relevant positive factors so far (Gaarenstroom 2014). One recommendation for further research was the stat