Excellence in maintenance performance is a strategic issue of capital intensive organizations but it requires effective measurement of maintenance performance. While performance measurement in general has been discussed extensively in the literature, few of such discussions focus on the maintenance function. This book presents the common practices of maintenance performance measurement and their deficiencies. It proposes the use of strategy driven balanced scorecards to optimize management of physical infrastructure assets. Through an action research involving two companies, the process of implementing the proposed approach to measuring maintenance performance was studied; the tools for the design and deployment of the maintenance scorecards, and those for presentation and analysis of scorecard results were field tested. The roadmap and critical success factors for applying balanced scorecards in managing maintenance performance are also discussed. The discussion is particularly useful to physical asset management professionals, or anyone else who may be considering exploiting physical infrastructure assets in support of business needs.