This research presents an empirical study, which examines the role of contingency factors, i.e. uncertainty and competitiveness in relation to physical asset management (PAM) practices. The research is based on a premise that PAM, which comprises of risk management practices, performance assessment practices, life cycle management practices, policy & strategy practices, has become an indispensable element of strategic thinking of asset owners as well as maintenance and asset managers. The purpose of this study is to advance the understanding of how organizations that face high or low level of uncertainty and competitiveness respond in terms of PAM deployment.

This study employed a data set based on a large-scale survey among organizations in six European countries (i.e. Slovenia, Poland, Greece, Sweden, Turkey and Slovakia). The results show that organizations that are faced with high level of uncertainty and competitiveness are more engaged in the deployment of PAM practices. From a theoretical perspective, this study contributes to the contingency theory by providing empirical evidence whether a context-dependent approach to PAM is needed. The findings also provide insights for managers on how to respond to the competitive pressure as well as how to customize PAM practices in order to adapt to the changes in dynamic organizational environment.