iTeh StandardsiTeh Standards
EURUSD
Your shopping cart is empty.
ASTM

ASTM E3298-21

(Practice)

Standard Practice for Inventory by Exception (IBE)

Standard Practice for Inventory by Exception (IBE)

SIGNIFICANCE AND USE
5.1 Asset verification is conducted to assess the accuracy of asset records and verify information regarding the asset.  
5.2 Before considering a physical inventory method, take into account the current policies and procedures of your entity. Questions such as what items must be inventoried, how often inventories need to occur, and why are we conducting an inventory are important to support these policies.  
5.3 IBE decreases the time required to conduct an inventory, especially as operational and asset management systems achieve a greater level of integration.  
5.4 The procedures and plans for an IBE must be documented and approved in accordance with Practice E2132.  
5.5 IBE allows the physical inventory process to only focus on locating assets that were not touched or physically inventoried.  
5.6 IBE decreases the number of assets requiring an inventory reconciliation during a specific cycle. This can greatly increase the productivity of staff who are tasked with performing a physical inventory.
SCOPE
1.1 This practice describes the method used to verify the existence of items on record using IBE. It does not provide a method for verification of completeness of records.  
1.2 In accordance with the provisions of Practice E2132, this practice clarifies the implementation of IBE as an effective and efficient inventory practice.  
1.3 This practice does not override or increase requirements specific to governmental authorities. To the greatest extent practicable, the guidance in this practice should be considered by these entities where efficiencies can be gained.  
1.4 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.  
1.5 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

General Information

Status
Published
Publication Date
30-Jun-2021
ICS
03.100.01 - Company organization and management in general
Technical Committee
E53 - Asset Management
Drafting Committee
E53.01 - Process Management
Current Stage
Ref Project

Relations

Refers
ASTM E2608-20 - Standard Practice for Equipment Control Matrix (ECM)
Effective Date
01-Jul-2020

Buy Standard

ASTM E3298-21 - Standard Practice for Inventory by Exception (IBE)ASTM E3298-21 - Standard Practice for Inventory by Exception (IBE)
PreviousNext
Standard
ASTM E3298-21 - Standard Practice for Inventory by Exception (IBE)
English language
3 pages
sale 15% off
Preview
sale 15% off
Preview

Standards Content (Sample)

This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the
Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.
Designation: E3298 − 21
Standard Practice for
1
Inventory by Exception (IBE)
This standard is issued under the fixed designation E3298; the number immediately following the designation indicates the year of
original adoption or, in the case of revision, the year of last revision. A number in parentheses indicates the year of last reapproval. A
superscript epsilon (´) indicates an editorial change since the last revision or reapproval.
INTRODUCTION
Physical inventory verification is the process of comparing an entity’s official list of assets to the
actual assets.This requires planning and execution that can incur a significant dedication of resources.
Inventory verification is used to verify or assess if controls are working. Controls are used to verify
the existence, condition, and location of an asset. Traditional inventory verification is conducted by
directly touching assets by means of a sight-touch method during a scheduled inventory period.
The verification that assets exist can also be performed indirectly using IBE. IBE counts assets that
have been touched physically or electronically during the inventory cycle as already inventoried. IBE
includes actions or transactions where assets are touched by independent systems or disinterested
parties throughout the inventory cycle. Documentation supporting the transaction should be included
as part of the accountable record.
When implementing this type of inventory, it is extremely important to define what constitutes a
touch. A touch in this context verifies asset existence.
1. Scope 2. Referenced Documents
2
1.1 This practice describes the method used to verify the 2.1 ASTM Standards:
existence of items on record using IBE. It does not provide a E2132 Practice for Inventory Verification: Electronic and
method for verification of completeness of records. Physical Inventory of Assets
E2135 Terminology for Property and Asset Management
1.2 In accordance with the provisions of Practice E2132,
E2495 Practice for Prioritizing Asset Resources in
this practice clarifies the implementation of IBE as an effective
Acquisition, Utilization, and Disposition
and efficient inventory practice.
E2608 Practice for Equipment Control Matrix (ECM)
1.3 This practice does not override or increase requirements
specific to governmental authorities. To the greatest extent
3. Terminology
practicable, the guidance in this practice should be considered
3.1 Definitions—Fordefinitionsrelatedtopropertyandasset
by these entities where efficiencies can be gained.
management, refer to Terminology E2135.
1.4 This standard does not purport to address all of the
3.2 Definitions of Terms Specific to This Standard:
safety concerns, if any, associated with its use. It is the
3.2.1 disinterested parties—persons without stewardship,
responsibility of the user of this standard to establish appro-
pecuniary, fiduciary, or other responsibilities or interest.
priate safety, health, and environmental practices and deter-
3.2.1.1 Discussion—Disinterested parties in the context of
mine the applicability of regulatory limitations prior to use.
this practice are those entity and contracted personnel who are
1.5 This international standard was developed in accor-
required to perform activities outlined in 6.2 who do not have
dance with internationally recognized principles on standard-
asset ownership or custodial responsibility outside of the
ization established in the Decision on Principles for the
specific action being performed in relation to those outlined in
Development of International Standards, Guides and Recom-
6.2.Any party who has a segregated duty in the asset addition,
mendations issued by the World Trade Organization Technical
deletion, or edit process is inherently NOT a disinterested
Barriers to Trade (TBT) Committee.
party.
1
This practice is under the jurisdiction of ASTM Committee E53 on Asset
2
Management and is the direct responsibility of Subcommittee E53.01 on Process For referenced ASTM standards, visit the ASTM website, www.astm.org, or
Management. contact ASTM Customer Service at service@astm.org. For Annual Book of ASTM
Current edition approved July 1, 2021. Published July 2021. DOI: 10.1520/ Standards volume information, refer to the standard’s Document Summary page on
E3298-21. the ASTM website.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States
1

---------------------- Page: 1 ----------------------
E3298 − 21
3.2.2 electronic asset verification (EAV)—electronically 5.3 IBEdecreasesthetimerequiredtoconductaninventory,
confirming the existence, location, and status of an asset or especially as operational and asset
...

Questions, Comments and Discussion

Ask us and Technical Secretary will try to provide an answer. You can facilitate discussion about the standard in here.

This May Also Interest You

ASTM
ASTM E3257-21(Practice)
Standard Practice for Asset Taxonomy

SIGNIFICANCE AND USE
4.1 The intent of these principles is to provide a useful hierarchical arrangement of the breadth of asset types.  
4.2 This hierarchy is independent of the legal ownership of the assets under consideration.  
4.3 Cost or financial treatment of assets is not relevant to this hierarchy.  
4.3.1 Positive and negative value contributions of assets are relevant to mission success.  
4.4 Value contribution to the mission success of the organization of the assets is relevant.  
4.5 Asset hierarchies or models based on other asset attributes may be useful as well.  
4.6 Understanding the breadth of assets allows organizations to give full consideration of the contribution of assets to the mission success of the organization.  
4.6.1 As an example, when a trucking company considers its assets, the trucks, trailers, and related equipment are an obvious starting point. Real property used to stage, store, load, unload, maintain, and perform other mission-related tasks follows. Administrative space (real property) and equipment (personal property) supporting the organizational mission are included, regardless of ownership. Management control systems, networks, software, knowledge, and perceptions are non-physical assets contributing value in support of mission objectives. As with all assets discussed in this example, ownership of the assets is an important consideration, but a consideration that is not relevant to understanding all the assets that contribute to mission success. In that light, the public roads and bridges carrying the trucks to their destinations and back are clearly assets essential to mission success. Air and water are essential to operation of the trucking equipment, and to the staff supporting the mission, and therefore are assets of the organization.  
4.7 It is likely that many or most organizations have assets from every classification at every level of this hierarchy.
SCOPE
1.1 This practice covers a useful hierarchical arrangement of the breadth of asset types.  
1.2 This taxonomy is based on the innate characteristics of the asset, not on the asset's use, cost, owner, or other factors.  
1.3 Biological life forms are excluded.  
1.4 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.  
1.5 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

  • Standard
    3 pages
    English language
    sale 15% off
ASTM
ASTM E2279-20(Practice)
Standard Practice for Establishing the Guiding Principles of Property Asset Management

SIGNIFICANCE AND USE
4.1 The intent of these principles and desired outcomes is to provide requirements and guidance for an effective and efficient system for (1) the acquisition of property, (2) the utilization of available property, and (3) the disposal of property. (40 U.S. Code § 101)  
4.2 Asset management practices shall seek, when viewed in totality, to be effective and efficient, to the point at which benefits exceed the costs of operation.  
4.3 The requirements and guidance in this practice shall be used to establish property management plans that strategically address organizational objectives including: scope, management system, management structure, process flows, alignment, internal controls, enforcement, risks, accountability, and resources to collectively realize optimal value from assets.  
4.4 The intent of this practice is to promote the right sizing and scope of the asset management activity to appropriately manage organizational assets.  
4.5 To establish a learning and innovative culture with continuous self-assessments and process improvements.  
4.6 To establish policies, systems, and processes to timely prevent, detect, and correct operational weaknesses and deficiencies in internal controls that may result in waste, fraud abuse, mismanagement, and corruption.
SCOPE
1.1 This practice covers the creation of a set of guiding principles that, when adopted, is endorsed by top management to be applied to the practice of property management. These principles will enunciate the objectives and intent of the property (also known as “asset”) management community, stress simplified procedures, promote less rather than more, judgment rather than “by-the-book” decisions, and encourage the adoption of “best practices.”  
1.2 The acceptance of these guiding principles provides the high potential of improved internal controls and governance. It promotes a problem-solving mentality and culture within the property management community, encourages the use of innovative and cost-effective practices, creates greater commonality between government and industry practices, and increases the ability of organizations to respond to changing needs and business conditions.  
1.3 This practice adopts the concept that the potential benefits of operating in a manner consistent with a set of standards and guidelines outweigh concerns about the loss of predictability, uniformity, and consistency.  
1.4 This practice provides property management standards and guidance that may be used for various types of property including tangible, intangible, personal, and real.  
1.5 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.  
1.6 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

  • Standard
    5 pages
    English language
    sale 15% off
  • Standard
    5 pages
    English language
    sale 15% off
ASTM
ASTM E3210-20(Practice)
Standard Practice for Infrastructure Management

SIGNIFICANCE AND USE
4.1 Purpose—This practice provides a framework for an authority to assess, plan, and execute: (1) the construction of new systems of tangible and intangible infrastructure; and (2) operate, maintain, monitor, and repair existing systems of infrastructure assets so as to maximize their use value by providing desired services for the benefit of infrastructure asset service recipients of the authority’s unit of government or private sector organization.  
4.2 How to Use Information—The information generated by this practice is used to assess the quality and frequency of delivered infrastructure asset services, which then provides the basis for changing the amounts or proportions of funding for one, many, or all types of infrastructure assets in the subsequent cycle of assessment, planning, and execution. The user shall identify an acceptable score for each infrastructure asset system being assessed with the practice (using resources listed in Table 4) and is encouraged to set targets for higher scores for each subsequent cycle of assessment (so that continuous improvement may be achieved) that shall not exceed four years.  
4.3 Who Should Use Information—The authority should use the generated information from the use of this practice to: (1) life safety-prioritize capital expenditures (extraordinary outlays) and spending on operations, maintenance, monitoring, and repair (ordinary outlays) of each infrastructure asset system that is assessed; (2) ensure costs are based on a life cycle basis, and, (3) triage those expenditures when insufficient funds limit the number of prioritized infrastructure asset services that can be improved or upgraded. The infrastructure asset service recipient should use generated information from the use of this practice to: (1) advocate for improved services; (2) coordinate communication among other infrastructure asset service recipients to voice concerns about service quality, frequency, and equity; and (3) identify new sources of revenu...
SCOPE
1.1 This asset management practice establishes requirements of transparency and accountability for an assemblage of tangible and intangible infrastructure asset systems for a public or private organization.  
1.2 This practice promotes the life safety-prioritized and cost efficacious delivery of 15 types of infrastructure assets to infrastructure asset service recipients. These services include direct uses (for example, water supply or police protection) and indirect uses (for example, preventing adverse impacts on the environment while minimizing nature’s adverse impacts on infrastructure assets).  
1.3 This practice may be used as the basis for training guides for infrastructure asset system employees and operators.  
1.4 This practice provides an acceptability framework for 15 systems of infrastructure assets, including (1) potable water supply, (2) food systems, (3) sewage and storm water systems, (4) buildings, (5) healthcare, (6) security, (7) power, (8) communication, (9) transit and travel, (10) waste disposal, (11) education, (12) cultural heritage, (13) recreation and entertainment, (14) nature, and (15) financial systems.  
1.5 This practice is composed of the following sections: referenced documents; terminology; significance and use; planning and scoping; integrated infrastructure system management process; and infrastructure system reporting and documentation.  
1.6 The values stated in inch-pound units are to be regarded as standard. No other units of measurement are included in this standard.  
1.7 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.  
1.8 This international standard was developed in accordance with internationally recognized principles on s...

  • Standard
    17 pages
    English language
    sale 15% off
  • Standard
    17 pages
    English language
    sale 15% off
ASTM
ASTM E3015-15(2020)(Guide)
Standard Guide for Management of Customer-Owned Property Assets in Possession of Supplier, Contractor or Subcontractor

SIGNIFICANCE AND USE
5.1 This guide promotes the importance of effective and efficient use of resources to satisfy various needs of participants: those who furnish property–customers and owners, those who receive customer or entity property–suppliers, contractors, and subcontractors, and the audit community, while providing reasonable assurance of effective internal controls.  
5.2 The objective of this guide is to promote a life-cycle approach using the elements of good internal controls.  
5.3 For optimization, this guide may be used in conjunction with Practice E2279 and Practice E2452.
SCOPE
1.1 This guide addresses infrastructure and practices for the life-cycle management of supplier, contractor or subcontractor-held customer-owned property in the possession of a supplier, contractor or subcontractor. This includes the infrastructure and processes and subprocesses in the efforts of acquisition, use, and disposition.  
1.2 This guide covers property that is owned by a customer or a buyer (referred to as customer-owned property) that is either directly furnished by a buyer, customer, or acquired by a supplier on behalf of a customer where title to the property ultimately vests with the customer while in the possession of a supplier, contractor or subcontractor.  
1.3 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.  
1.4 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

  • Guide
    11 pages
    English language
    sale 15% off
ASTM
ASTM E1804-16(2023)(Practice)
Standard Practice for Performing and Reporting Cost Analysis During the Design Phase of a Project

SIGNIFICANCE AND USE
5.1 This practice increases the level of communication, provides an organized approach to cost control during the design of a project, and also provides a means of identifying extraordinary cost items and changes in assumptions between estimates.  
5.2 The users of this practice include owners, developers, contractors, cost professionals, estimators, architects, engineers, specification writers, quantity surveyors, and anyone charged with the responsibility of successfully managing the design of a building and its related site work within a specified project budget.  
5.3 Use this reporting format during the following:  
5.3.1 Contracting for design cost analysis services,  
5.3.2 Comparing the current design costs to a previous estimate, and  
5.3.3 Responding to each design phase.  
5.4 This practice provides a tool for analyzing design options and examining strategies to maintain the project budget.
SCOPE
1.1 This practice covers an arranged method for providing cost analysis during the design phase of a building project.  
1.2 The use of this practice increases the level of communication between the design professional, owner, and the cost professional providing the cost consulting services.  
1.3 The practice establishes a structured method to support design decisions.  
1.4 The practice provides design and cost professionals with a framework for historically tabulating information to be used on relevant future projects.  
1.5 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

  • Standard
    4 pages
    English language
    sale 15% off
ASTM
ASTM E3012-22(Guide)
Standard Guide for Characterizing Environmental Aspects of Manufacturing Processes

SIGNIFICANCE AND USE
4.1 This guide provides a systematic approach for characterizing the environmental aspects of manufacturing processes based on well-established formal languages.
Note 1: In computer science, a formal language is a language designed for use in situations in which natural language is unsuitable as, for example, in mathematics, logic, or computer programming. The symbols and formulas of such languages stand in precisely specified syntactic and semantic relations to one another. Formal representations are derived from formal languages.
Note 2: A UMP model is defined using formal languages, such as eXtensible Markup Language (XML) (1),6 Unified Modeling Language (UML) (2), or Systems Modeling Language (SysML) to facilitate data exchange, computability, and communication with other manufacturing and analysis applications. These capabilities support manufacturers in evaluating, documenting, and improving performance. This guide specifically incorporates UML and XML but does not limit implementations to these languages.  
4.2 This guide provides the structure and formalism to ensure consistency in characterizing manufacturing processes in a computer-interpretable way, thus enabling effective communication, computational analytics, and exchange of performance information.  
4.3 Fig. 1 shows how this guide is used to transition manufacturing resources, such as industrial robots, machine tools, and auxiliary devices, from the phycical world to the digital world through graphical and formal representations. In doing so, required information to perform engineering analysis, such as optimization, simulation, and life cycle assessment, is characterized in a manner that is complete, standardized, and efficient.
FIG. 1 Overview of Significance and Use of this Guide
UMPs store digital representations of physical manufacturing assets and systems to enable engineering analysis, for example, optimization, simulation, and life cycle assessments.
Note 3: This guide will promot...
SCOPE
1.1 This guide provides an approach to characterize any category of manufacturing process and to systematically capture and describe relevant environmental information.  
1.2 This guide defines the conceptual model of a unit manufacturing process (UMP) from which a formal representation can be specified.  
1.3 This guide defines the graphical representation of a UMP model that supports the systematic structuring and visualizing of manufacturing information.  
1.4 This guide defines a process characterization methodology to construct UMP models that characterize the environmental aspects of the manufacturing processes under study.  
1.5 This guide provides the necessary structure and formality for identifying and capturing key information needed to assess manufacturing performance, yet provides no details about an actual assessment of the process performance.  
1.6 This guide provides the conceptual definition for a system composed of multiple UMPs to represent a production system.  
1.7 This guide may be used to complement other standards that address sustainability and the product life cycle. This guide most closely relates to the inventory component as discussed in the ISO 14040 series (ISO 14044) standards, and resource management as discussed in the ISO 55000 series (ISO 55001) standards.  
1.8 This guide does not purport to address all of the security issues and the risks associated with manufacturing information. It is the responsibility of the user of this standard to follow practices and establish appropriate information technology related security measures.  
1.9 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.  
1.10 This international standard was developed...

  • Guide
    12 pages
    English language
    sale 15% off
  • Guide
    12 pages
    English language
    sale 15% off
ASTM
ASTM E2987/E2987M-22(Terminology)
Standard Terminology for Sustainable Manufacturing

SIGNIFICANCE AND USE
2.1 The terminology included in this standard is intended to provide definitions for sustainable manufacturing terms. This standard is intended to be referenced by other sustainable manufacturing standards.  
2.2 The terms defined in this standard are those which have specific meaning in the context of sustainable manufacturing. Terms that have more general application, or for which the dictionary definition is applicable, are not included.  
2.3 Terms having application only within a specific standard, or having meaning unique to the context of that standard, are defined or explained in the terminology section of the individual standard, and are not included here.
SCOPE
1.1 The standard includes terminology applicable to sustainable manufacturing.  
1.2 The values stated in either SI units or inch-pound units are to be regarded separately as standard. The values stated in each system are not necessarily exact equivalents; therefore, to ensure conformance with the standard, each system shall be used independently of the other, and values from the two systems shall not be combined.  
1.3 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

  • Standard
    2 pages
    English language
    sale 15% off
  • Standard
    2 pages
    English language
    sale 15% off
ASTM
ASTM E2986-22(Guide)
Standard Guide for Evaluation of Environmental Aspects of Sustainability of Manufacturing Processes

SIGNIFICANCE AND USE
4.1 This guide provides a reference to the manufacturing community for the evaluation of environmental sustainability aspects of manufacturing processes. This guide is intended to improve efficiencies and consistencies of informal methods by providing procedures for consistent evaluations of manufacturing processes.  
4.2 This guide describes a procedure to identify parameters and models for evaluating sustainability metrics for a particular process. Users of this guide will benefit from insight into the sustainability implications of selected processes as well as the contributing factors.
SCOPE
1.1 This guide provides guidance to develop manufacturer-specific procedures for evaluating the environmental sustainability performance of manufacturing processes. This guide introduces decision support methods that can be used to improve sustainability performance.  
1.2 The scope of this guide is constrained by the manufacturing phase of the life cycle. The guide addresses specifics related to the processes and procedures within this phase.  
1.3 This guide will allow manufacturers to make effective evaluations during plant and enterprise-wide decision-making within the manufacturing phase.  
1.4 This guide focuses on environmental sustainability impacts, though social and economic impacts are not explicitly excluded.  
1.5 This guide addresses:  
1.5.1 Setting boundaries for the evaluation of environmental sustainability of a process or processes,  
1.5.2 Identifying the process and equipment-related parameters necessary for environmental sustainability-driven process evaluation,  
1.5.3 Creating process models using these parameters,  
1.5.4 Utilizing process models to support consistent evaluations and sustainability-driven decision-making in a manufacturing enterprise.
Note 1: See ULE 880 for additional guidance at enterprise-level decision-making.  
1.6 This guide may be used to complement other standards that address sustainability and the product life cycle. This guide most closely relates to the inventory component as discussed in the ISO 14040 series (ISO 14040, ISO 14044) standards, efficiency as discussed in the ISO 50000 series (ISO 50001) standards, and resource management as discussed in the ISO 55000 series (ISO 55001) standards.  
1.7 The values stated in SI units are to be regarded as standard. No other units of measurement are included in this standard.  
1.8 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.  
1.9 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

  • Guide
    7 pages
    English language
    sale 15% off
  • Guide
    7 pages
    English language
    sale 15% off
ASTM
ASTM E3130-21(Guide)
Standard Guide for Developing Cost-Effective Community Resilience Strategies

SIGNIFICANCE AND USE
5.1 Investments in projects supporting community resilience are characterized by uncertainties regarding the frequency and magnitude of natural, technological, and human-caused disruptions. Accounting for these low-probability, high-consequence events challenge traditional economic evaluation methods.  
5.2 The traditional approach to evaluating the benefit-cost of investment decisions routinely focus on measures directly tied to loss avoidance.  
5.3 Following this guide when performing an economic evaluation assures the user that relevant economic information, including information regarding uncertainties and indirect inputs, is considered for capital project facing possible disruptions from natural, technological, and human-caused hazards.  
5.4 Use this guide in the planning phases of community resilience plan development process. Consideration of risk mitigation choices early in the planning process allows both greater flexibility in addressing specific hazards and lower costs associated with their implementation.  
5.5 Use this guide to integrate community resilience plans with economic development, zoning, hazard mitigation, and other community planning activities that affect buildings, public works, and infrastructure systems.  
5.6 Use this guide to identify all relevant inputs—that is, costs and benefits (savings)—associated with construction, implementation, and use of the capital asset, over the lifetime of the asset. Relevant inputs include direct, indirect and externalities, and non-market values.  
5.7 Use this guide for economic evaluations based on Practices E917 (life-cycle costs), E964 (benefit-to-cost and savings-to-investment ratios), E1057 (internal rate of return and adjusted internal rate of return), E1074 (net benefits and net savings), E1121 (payback), E1699 (value engineering), and E1765 (analytical hierarchy process for multi-attribute decision analysis), and Guide E1369 (treatment of uncertainty).  
5.8 Use this guide in conjuncti...
SCOPE
1.1 This guide describes a generic economic methodology for evaluating investment decisions aimed to improve the ability of communities to adapt to, withstand, and quickly recover from, disruptive events. The methodology describes a framework for developing cost-effective community resilience strategies for new and existing constructed facilities—buildings, industrial facilities, and other critical infrastructure. This guide provides owners and managers of constructed facilities, architects, engineers, constructors, other providers of professional services for constructed facilities, and researchers and analysts with an approach for planning and comparing resilience strategies.  
1.2 This guide frames the economic decision process by identifying and comparing the relevant present and future streams of costs and benefits to a community—the latter realized through cost savings and damage loss avoidance—associated with new capital investment into resilience to those generated by the status-quo.  
1.3 This guide provides a means to increase the capacity of communities to objectively and effectively compare and contrast capital investment projects through consideration of benefits and costs while maintaining an awareness of system resilience. Topics related to non-market values and uncertainty are also explored.  
1.4 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.  
1.5 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Com...

  • Guide
    10 pages
    English language
    sale 15% off
  • Guide
    10 pages
    English language
    sale 15% off
ASTM
ASTM E3257-21(Practice)
Standard Practice for Asset Taxonomy

SIGNIFICANCE AND USE
4.1 The intent of these principles is to provide a useful hierarchical arrangement of the breadth of asset types.  
4.2 This hierarchy is independent of the legal ownership of the assets under consideration.  
4.3 Cost or financial treatment of assets is not relevant to this hierarchy.  
4.3.1 Positive and negative value contributions of assets are relevant to mission success.  
4.4 Value contribution to the mission success of the organization of the assets is relevant.  
4.5 Asset hierarchies or models based on other asset attributes may be useful as well.  
4.6 Understanding the breadth of assets allows organizations to give full consideration of the contribution of assets to the mission success of the organization.  
4.6.1 As an example, when a trucking company considers its assets, the trucks, trailers, and related equipment are an obvious starting point. Real property used to stage, store, load, unload, maintain, and perform other mission-related tasks follows. Administrative space (real property) and equipment (personal property) supporting the organizational mission are included, regardless of ownership. Management control systems, networks, software, knowledge, and perceptions are non-physical assets contributing value in support of mission objectives. As with all assets discussed in this example, ownership of the assets is an important consideration, but a consideration that is not relevant to understanding all the assets that contribute to mission success. In that light, the public roads and bridges carrying the trucks to their destinations and back are clearly assets essential to mission success. Air and water are essential to operation of the trucking equipment, and to the staff supporting the mission, and therefore are assets of the organization.  
4.7 It is likely that many or most organizations have assets from every classification at every level of this hierarchy.
SCOPE
1.1 This practice covers a useful hierarchical arrangement of the breadth of asset types.  
1.2 This taxonomy is based on the innate characteristics of the asset, not on the asset's use, cost, owner, or other factors.  
1.3 Biological life forms are excluded.  
1.4 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.  
1.5 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

  • Standard
    3 pages
    English language
    sale 15% off