Asset management is a broad and complex topic, that is simpler to apply if you understand the difference between ‘asset management’ and ‘managing assets’. To assist others understand this distinction, the International Standards Organization (ISO) Technical Committee (TC) 251 produced the Managing Assets in the Context of Asset Management paper. This paper addresses the most common misconception related to asset management, that is asset management focuses on the value generated by assets and it is not limited to tactical decision making related to life cycle management activities. Definitive Logic fully supports ISO TC 251’s activities and recommends you reading this short paper to learn more about what asset management is and how it can help your organization become more effective and efficient.