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ASTM E2495-07

(Practice)

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

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

SIGNIFICANCE AND USE
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.  
API 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.
It enables management to identify critical assets and allocate resources appropriately and should therefore be an integral process in equipment management.
SCOPE
1.1 This practice establishes a quantitative process, an asset priority index (API), for prioritizing asset resources in acquisition, utilization, and disposition to provide managers with a method to prioritize asset resources based on predefined criteria.
1.2 The API has a wide range of applications including, but not limited to, use as a basis for capital investment strategies, deferred maintenance approaches, security design and analyses, continuity of business/risk analyses, and disposition decisions.
1.3 The API model is designed to be applicable and appropriate for entities holding equipment designated as capital assets.
1.4 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 intangible property, real property, and materiel.
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 projects 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-Jan-2007
ICS
03.100.01 - Company organization and management in general
Technical Committee
E53 - Asset Management
Drafting Committee
E53.05 - Asset Leadership
Current Stage
Ref Project

Relations

Replaces
ASTM E2495-06 - Standard Practice for Asset Utility
Effective Date
01-Feb-2007
Replaced By
ASTM E2495-13 - Standard Practice for Prioritizing Asset Resources in Acquisition, Utilization, and Disposition
Effective Date
01-Jan-2013
Referred By
ASTM E2675-22 - Standard Practice for Asset Management System Outcomes
Effective Date
01-Feb-2007
Referred By
ASTM E2135-22 - Standard Terminology for Property and Asset Management
Effective Date
01-Feb-2007
Referred By
ASTM E3298-21 - Standard Practice for Inventory by Exception (IBE)
Effective Date
01-Feb-2007
Referred By
ASTM E3035-15(2020) - Standard Classification for Facility Asset Component Tracking System (FACTS)
Effective Date
01-Feb-2007
Referred By
ASTM E2608-20 - Standard Practice for Equipment Control Matrix (ECM)
Effective Date
01-Feb-2007

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ASTM E2495-07 - Standard Practice for Prioritizing Asset Resources in Acquisition, Utilization, and DispositionASTM E2495-07 - Standard Practice for Prioritizing Asset Resources in Acquisition, Utilization, and Disposition
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ASTM E2495-07 - Standard Practice for Prioritizing Asset Resources in Acquisition, Utilization, and Disposition
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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 − 07
StandardPractice 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 a project’s many unique aspects. The word “Standard” in the
title means only that the document has been approved through
1.1 This practice establishes a quantitative process, an asset
the ASTM International consensus process.
priority index (API), for prioritizing asset resources in
acquisition, utilization, and disposition to provide managers
2. Referenced Documents
with a method to prioritize asset resources based on predefined
2
2.1 ASTM Standards:
criteria.
E2135 Terminology for Property and Asset Management
1.2 TheAPI has a wide range of applications including, but
E2219 Practice forValuation and Management of Moveable,
not limited to, use as a basis for capital investment strategies,
3
Durable Property (Withdrawn 2009)
deferred maintenance approaches, security design and
E2220 Practice for Establishing the Full Valuation of the
analyses, continuity of business/risk analyses, and disposition
Loss/Overage Population Identified During the Inventory
decisions.
3
of Moveable, Durable Property (Withdrawn 2009)
1.3 The API model is designed to be applicable and appro-
E2221 Practice for Administrative Control of Property
3
priate for entities holding equipment designated as capital
(Withdrawn 2011)
assets.
3. Terminology
1.4 In addition to the applicability of moveable and durable
assets as defined in this practice, this methodology may in 3.1 Definitions:
whole or in part be effectively applied to intangible property, 3.1.1 analytical hierarchy process (AHP), n—decision-
real property, and materiel. making model that reduces complex decisions to one on one
comparisons resulting in the ranking of a list of objectives or
1.5 This practice offers instructions for performing one or
4
alternatives.
more specific operations. This document cannot replace edu-
cation or experience and should be used in conjunction with 3.1.2 asset priority index (API), n—numerical value as-
professional judgment. Not all aspects of this practice may be
signed to an asset reflecting its value to an entity’s mission or
applicable in all circumstances. This ASTM standard is neither other critical assignments as defined by the criteria set forth by
intended to represent or replace the standard of care by which
management.
the adequacy of a given professional service must be judged,
nor should this document be applied without consideration of
2
For referenced ASTM standards, visit the ASTM website, www.astm.org, or
contact ASTM Customer Service at service@astm.org. For Annual Book of ASTM
1
This practice is under the jurisdiction of ASTM Committee E53 on Property Standards volume information, refer to the standard’s Document Summary page on
Management Systems and is the direct responsibility of Subcommittee E53.05 on the ASTM website.
3
Property Management Maturity. The last approved version of this historical standard is referenced on
Current edition approved Feb. 1, 2007. Published March 2007. Originally www.astm.org.
4
approved in 2006. Last previous edition approved in 2006 as E2495 – 06. DOI: Satty, T.L., Fundamentals of Decision Making and Priority Theory,RWS
10.1520/E2495-07. Publications, 4922 Ellsworth Ave., Pittsburgh, PA 15213, 1994.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States
1

---------------------- Page: 1 ----------------------
E2495 − 07
3.1.3 entity, n—agency, company, organization, or institu- sufficient definition to support a wide gradation) so that the
tion. scorers may can evaluate assets per according to the
management-defined criteria.
3.1.4 equipment, n—nonexpendable, tangible, moveable
4.2.5 Step 5: Evaluate each asset according to each critical
property needed for the performance of a task or useful in
criterion base
...

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5.1 Asset verification is conducted to assess the accuracy of asset records and verify information regarding the asset.  
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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.  
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ASTM E3210-20(Practice)
Standard Practice for Infrastructure Management

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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.  
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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.  
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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)  
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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.  
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ASTM E2495-18(Practice)
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 assets in terms of mission criticality, security, or other measures important to the entity. It establishes a basis for evaluating prioritization of asset resources.  
5.2 API offers a method for ranking assets based on judgment/importance factors defined by the entity, creating information to prioritize investments, security strategies, and disposition plans.  
5.3 API provides a quantitative basis for determining and documenting operational relationships between an asset portfolio and entity capital investment strategies, maintenance approaches, security design and analyses, continuity of business/risk analyses, and disposition decisions.  
5.4 The API enables entities to identify critical assets and allocate resources appropriately.  
5.5 The API model is designed to be applicable and appropriate for entities holding assets with a material impact on the entity’s mission.
SCOPE
1.1 The asset priority index (API) establishes a quantitative process for prioritizing asset resources in acquisition, utilization, and disposition.  
1.2 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).  
1.3 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 nor 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.  
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.

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Standard Practice for Management of Low Risk Property (LRP)

SIGNIFICANCE AND USE
4.1 LRP should be administratively controlled and managed using less resource-intensive methods than higher risk property.  
4.2 The type and scope of control and management should be commensurate with the level of risk. The entity shall determine the level of risk considering the following criteria:  
4.2.1 Scarcity,  
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4.2.3 Lead time,  
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Note 1: The listing in 4.2.1 – 4.2.14 is not all inclusive and may be supplemented by the entity and country. The management threshold/monetary value for item 4.2.7 in the United States and internationally may fluctuate up to $5000.00 or higher depending on agency and industry type.  
4.3 The information received from conducting standard asset Life Cycle Processes (LCP) within each Life Cycle Stage (LCS) for LRP may not provide sufficient value to the entity that is equal to or greater than the cost associated with performing the processes.  
4.4 Entities should establish policies and procedures, based on certain criteria in determining whether all or selected asset LCP should be conducted for LRP.  
4.5 The success of any entity is dependent in part on its operational effectiveness. To be effective entities should shift their focus from “risk avoidance” to one of “risk management.” The required processes and associated cost to eliminate all risk is prohibitive and contrary to producing timely, high-quality, and competitive products and services.  
4.6 While a variety of different strategies can mitigate or eliminate risk, the process for identifying risk includes:  
4.6.1 Vulnera...
SCOPE
1.1 This practice covers the assessment of risk and management of low risk property (LRP).  
1.2 This practice is directed at tangible LRP.  
1.3 This practice does not promote mismanagement or dereliction of duty to protect property, nor protecting property unreasonably – to the extent that usefulness is impaired. This practice recognizes the constraints of materiality and costs versus benefits in the control and management of property.  
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.

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Standard Practice for Uniform Data Management in Asset Management Records Systems

SIGNIFICANCE AND USE
4.1 Uniform asset management data is intended to provide a means of enabling accurate summary level information and reports to improve operational and strategic management capabilities at all phases of the asset lifecycle.  
4.2 Entities should manage the asset management records system in accordance with this practice to maintain data consistency, integrity, and usability and thus achieve uniform data.
SCOPE
1.1 This practice is intended to be used for records of all types of assets.  
1.2 This practice provides guidance on establishing and maintaining uniform asset data within an asset management records system.  
1.3 See ASTM E2604, Standard Practice for Data Characteristics of Equipment Asset Record, for mandatory and optional data characteristics required in the creation of an asset record.  
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 and health practices and determine the applicability of regulatory limitations prior to use.

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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.

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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.

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