ASTM E2495-13

Standard Practice for Prioritizing Asset Resources in Acquisition, Utilization, and Disposition

SIGNIFICANCE AND USE
5.1 The API is a metric used to communicate the relative importance of equipment in terms of mission criticality, security, or other measures important to the business entity. It offers a method for ranking assets based on judgment/importance factors defined by the organization, creating information to justify compelling arguments for investment, security strategies, and disposition plans.  
5.2 The API also provides a quantitative basis for determining and documenting operational relationships between an asset portfolio and business objectives capital investment strategies, maintenance approaches, security design and analyses, continuity of business/risk analyses, and disposition decisions.  
5.3 It enables management to identify critical assets and allocate resources appropriately and should therefore be an integral process in equipment management.
SCOPE
1.1 The asset priority index (API) establishes aquantitativee process for prioritizing asset resources in acquisition, utilization, and disposition to provide entities with a proven methodology to prioritize asset resources.  
1.2 The API is a metric used to communicate the relative importance of equipment in terms of mission criticality, security, or other measures important to the business entity. It offers a method for ranking assets based on judgment/importance factors defined by the organization, creating information to justify compelling arguments for investment, security strategies, and disposition plans.  
1.3 The API also provides a quantitative basis for determining and documenting operational relationships between an asset portfolio and business objectives capital investment strategies, maintenance approaches, security design and analyses, continuity of business/risk analyses, and disposition decisions.  
1.4 The API enables management to identify critical assets and allocate resources appropriately.  
1.5 The API model is designed to be applicable and appropriate for entities holding equipment with a material impact on the entity’s mission.  
1.6 In addition to the applicability of moveable and durable assets as defined in this practice, this methodology is similarly used in the analysis of investments in buildings and building systems (see Practice E1765).  
1.7 This practice offers instructions for performing one or more specific operations. This document cannot replace education or experience and should be used in conjunction with professional judgment. Not all aspects of this practice may be applicable in all circumstances. This ASTM standard is neither intended to represent or replace the standard of care by which the adequacy of a given professional service must be judged, nor should this document be applied without consideration of a project’s many unique aspects. The word “Standard” in the title means only that the document has been approved through the ASTM International consensus process.

General Information

• Status: Historical
• Publication Date: 31-Dec-2012
• ICS: 03.100.01 - Company organization and management in general
• Technical Committee: E53 - Asset Management
• Drafting Committee: E53.01 - Process Management

Relations

• Replaces: ASTM E2495-07 - Standard Practice for Prioritizing Asset Resources in Acquisition, Utilization, and Disposition
• Effective Date: 01-Jan-2013
• Replaced By: ASTM E2495-18 - Standard Practice for Prioritizing Asset Resources in Acquisition, Utilization, and Disposition
• Effective Date: 01-Jul-2018
• Referred By: ASTM E3298-21 - Standard Practice for Inventory by Exception (IBE)
• Effective Date: 01-Jan-2013
• Referred By: ASTM E2608-20 - Standard Practice for Equipment Control Matrix (ECM)
• Effective Date: 01-Jan-2013
• Referred By: ASTM E2135-22 - Standard Terminology for Property and Asset Management
• Effective Date: 01-Jan-2013
• Referred By: ASTM E2675-22 - Standard Practice for Asset Management System Outcomes
• Effective Date: 01-Jan-2013
• Referred By: ASTM E3035-15(2020) - Standard Classification for Facility Asset Component Tracking System (FACTS)
• Effective Date: 01-Jan-2013

Standards Content (Sample)

NOTICE: This standard has either been superseded and replaced by a new version or withdrawn.
Contact ASTM International (www.astm.org) for the latest information
Designation: E2495 − 13
Standard Practice for
Prioritizing Asset Resources in Acquisition, Utilization, and
1
Disposition
This standard is issued under the fixed designation E2495; 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
Identifying assets that are most critical to a mission or practice is challenging for most business
entities. The ability of a business entity to minimize the gap between its asset portfolio and
ever-changing organizational missions often determines its success or failure in achieving designed
objectives. The goal of this practice is to provide managers with a disciplined, quantitative approach
to an inherently subjective decision-making process: determining which assets are critical to an
entity’s designated mission and are therefore deserving of priority attention or funding.
1. Scope used in the analysis of investments in buildings and building
systems (see Practice E1765).
1.1 The asset priority index (API) establishes aquantitativee
process for prioritizing asset resources in acquisition, 1.7 This practice offers instructions for performing one or
utilization, and disposition to provide entities with a proven more specific operations. This document cannot replace edu-
methodology to prioritize asset resources. cation or experience and should be used in conjunction with
professional judgment. Not all aspects of this practice may be
1.2 The API is a metric used to communicate the relative
applicable in all circumstances. This ASTM standard is neither
importance of equipment in terms of mission criticality,
intended to represent or replace the standard of care by which
security, or other measures important to the business entity. It
the adequacy of a given professional service must be judged,
offers a method for ranking assets based on judgment/
nor should this document be applied without consideration of
importance factors defined by the organization, creating infor-
a project’s many unique aspects. The word “Standard” in the
mation to justify compelling arguments for investment, secu-
title means only that the document has been approved through
rity strategies, and disposition plans.
the ASTM International consensus process.
1.3 TheAPI also provides a quantitative basis for determin-
ing and documenting operational relationships between an
2. Referenced Documents
asset portfolio and business objectives capital investment
2
2.1 ASTM Standards:
strategies, maintenance approaches, security design and
E1765 Practice for Applying Analytical Hierarchy Process
analyses, continuity of business/risk analyses, and disposition
(AHP) to Multiattribute DecisionAnalysis of Investments
decisions.
Related to Projects, Products, and Processes
1.4 The API enables management to identify critical assets
E2135 Terminology for Property and Asset Management
and allocate resources appropriately.
E2811 Practice for Management of Low Risk Property
1.5 The API model is designed to be applicable and appro-
(LRP)
priate for entities holding equipment with a material impact on
the entity’s mission.
3. Terminology
1.6 In addition to the applicability of moveable and durable
3.1 Definitions:
assets as defined in this practice, this methodology is similarly
3.1.1 asset portfolio, n—assets that are within the scope of
the asset management system.
1
This practice is under the jurisdiction of ASTM Committee E53 on Asset
Management and is the direct responsibility of Subcommittee E53.01 on Process
2
Management. For referenced ASTM standards, visit the ASTM website, www.astm.org, or
Current edition approved Jan. 1, 2013. Published February 2013. Originally contact ASTM Customer Service at [e-mail]. For Annual Book of ASTM
approved in 2006. Last previous edition approved in 2007 as E2495 – 07. DOI: Standards volume information, refer to the standard’s Document Summary page on
10.1520/E2495-13. the ASTM website.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States
1

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E2495 − 13
3.1.2 asset priority index (API), n—numerical value as- 4.2.4 Step 4: Create scoring guidelines for subject matter
signed to an asset reflecting its value to an entity’s mission or experts (SME)s (preferably based on an interval scale with
other critical assignments as defined by the criteria set forth by sufficient definition to support a wide gradation) so that the
management. scorers can evaluate assets per according to the management-
defined criteria.
3.2 Definitions of Terms Specific to This Standard:
...

This document is not an ASTM standard and is intended only to provide the user of an ASTM standard an indication of what changes have been made to the previous version. Because
it may not be technically possible to adequately depict all changes accurately, ASTM recommends that users consult prior editions as appropriate. In all cases only the current version
of the standard as published by ASTM is to be considered the official document.
Designation: E2495 − 07 E2495 − 13
Standard Practice for
Prioritizing Asset Resources in Acquisition, Utilization, and
1
Disposition
This standard is issued under the fixed designation E2495; 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
Identifying assets that are most critical to a mission or practice is challenging for most business
entities. The ability of a business entity to minimize the gap between its asset portfolio and
ever-changing organizational missions often determines its success or failure in achieving designed
objectives. The goal of this practice is to provide managers with a disciplined, quantitative approach
to an inherently subjective decision-making process: determining which assets are critical to an
entity’s designated mission and are therefore deserving of priority attention or funding.
1. Scope
1.1 This practice establishes a quantitative process, an The asset priority index (API), (API) establishes aquantitativee process
for prioritizing asset resources in acquisition, utilization, and disposition to provide managersentities with a method proven
methodology to prioritize asset resources based on predefined criteria.resources.
1.2 The API is a metric used to communicate the relative importance of equipment in terms of mission criticality, security, or
other measures important to the business entity. It offers a method for ranking assets based on judgment/importance factors defined
by the organization, creating information to justify compelling arguments for investment, security strategies, and disposition plans.
1.3 The API has a wide range of applications including, but not limited to, use as a basis for also provides a quantitative basis
for determining and documenting operational relationships between an asset portfolio and business objectives capital investment
strategies, deferred maintenance approaches, security design and analyses, continuity of business/risk analyses, and disposition
decisions.
1.4 The API enables management to identify critical assets and allocate resources appropriately.
1.5 The API model is designed to be applicable and appropriate for entities holding equipment designated as capital assets.with
a material impact on the entity’s mission.
1.6 In addition to the applicability of moveable and durable assets as defined in this practice, this methodology may in whole
or in part be effectively applied to intangibleis similarly used in the analysis of investments in buildings and building systems (see
Practice E1765property, real property, and materiel.).
1.7 This practice offers instructions for performing one or more specific operations. This document cannot replace education
or experience and should be used in conjunction with professional judgment. Not all aspects of this practice may be applicable
in all circumstances. This ASTM standard is neither intended to represent or replace the standard of care by which the adequacy
of a given professional service must be judged, nor should this document be applied without consideration of a project’s many
unique aspects. The word “Standard” in the title means only that the document has been approved through the ASTM International
consensus process.
2. Referenced Documents
2
2.1 ASTM Standards:
1
This practice is under the jurisdiction of ASTM Committee E53 on Property Management Systems and is the direct responsibility of Subcommittee E53.05 on Property
Management Maturity.
Current edition approved Feb. 1, 2007Jan. 1, 2013. Published March 2007February 2013. Originally approved in 2006. Last previous edition approved in 20062007 as
E2495 – 06.E2495 – 07. DOI: 10.1520/E2495-07.10.1520/E2495-13.
2
For referenced ASTM standards, visit the ASTM website, www.astm.org, or contact ASTM Customer Service at [e-mail]. For Annual Book of ASTM Standards
volume information, refer to the standard’s Document Summary page on the ASTM website.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States
1

---------------------- Page: 1 ----------------------
E2495 − 13
E1765 Practice for Applying Analytical Hierarchy Process (AHP) to Multiattribute Decision Analysis of Investments Related to
Buildings and Building Systems
E2135 Terminology for Property and Asset Management
...