In searching for the simple definition of asset management, you should view it as a process where you can derive the maximum amount of use from the business resources. What is the asset management definition other than being the ownership of assets such as equipment, property, technology, or finance? It involves the identification of these assets, the place where they are located, the processes that use them, and at which time they need to be maintained or replaced. The definition of asset management is very easy: it is the management of the resources throughout their lifecycle.