Physical asset Management is the optimal life cycle management of physical assets to sustainably achieve the stated business objectives. A "physical asset" is defined as a physical item that has potential or actual value to an organization. During the years 2011-2012 EFNMS Asset Management Committee carried out a survey on the management practices in the area of physical asset management. The survey contained a questionnaire including 56 questions concerning the business environment of respondents, used management practices, quality of management, use of various key performance indicators, organizational policies and driving factors. The aim of this paper is to present the deeper findings of the survey, highlight the most interesting distributions of the responses, influences of the industrial sector and business environment on physical asset management practices, identification of typical existing asset management profiles and suggestions for improvements. The emphasis is especially on comparison of physical asset management practices between the European South, focusing on Greece, and North. An insight into different technological, business environment and other factors influencing physical asset management practices and differences is offered.