Cost incurred as part of operation of an asset.

The active process of utilising an asset which will consume resources such as manpower, energy, chemicals and materials. Operation costs are part of the lifecycle costs of an asset.

IIMM

An activity is the work undertaken on an asset or group of assets to achieve a desired outcome. IIMM

Regular activities to provide services such as public health, safety and amenity, eg street sweeping, grass mowing and street lighting. AIFMG 2009