ASTM E2675-22

Standard Practice for Asset Management System Outcomes

SIGNIFICANCE AND USE
4.1 This practice establishes expected outcomes associated with an asset management system.  
4.2 Understand the difference between performance standards and design standards—these are primarily performance statements versus design statements. What is being measured is achievement, not process.  
4.3 This practice encourages an inclusive understanding and communication of the outcomes associated with an asset management system. As additional standards are added, comparisons on this basis to other asset management systems can be further enabled.  
4.4 This practice, in combination with Practice E2279, should provide an enhanced basis for making decisions surrounding both assets and asset management systems.  
4.5 This practice is intended to foster and enable additional standard practices related to or based on the terms and concepts in the outcomes and outcome components. In particular, this practice may suggest a standard for personal and management skills useful in efforts to achieve these outcomes.  
4.6 This practice is to evaluate how robust the asset management system is, and guide future corrections and improvements.
SCOPE
1.1 This practice describes expected outcomes associated with an asset management system. It is a measure of achievement rather than process and is performance oriented rather than design oriented.  
1.2 Outcomes are defined as information, events, objects, or states of being produced as a result or consequence of an objective, plan, process, accident, effort, or other similar action or occurrence and can be expressed in a quantitative or qualitative manner.  
1.3 An output measure is the tabulation, calculation, or recording of activity or effort and can be expressed in a quantitative or qualitative manner. For example, an output is driving 100 mph; an outcome is arriving safely.  
1.4 An outcome measure is an assessment of the results of a program activity compared to its intended purpose. This practice assumes that inputs are correlated to known or declared outputs of the system or system component being assessed.  
1.5 Consistent with Practice E2452 (EMPM), these outcomes are grouped into process management outcomes and operational outcomes.  
1.5.1 Although they may be directly related, strategies and tactics should not be confused with outcomes. Strategies are long-term plans of action designed to achieve a particular goal. Tactics are maneuvers or actions calculated to achieve some end. For example, increasing exercise is a strategy to attain the goal or outcome of fitness. Running is a supporting tactic to achieve the goal or outcome of fitness. Other tactics or groups of tactics may achieve the same outcome. On the other hand, as the definition of outcome indicates, tactics are not required for attaining outcomes. For example, fitness may be an unplanned result of a job requiring physical exertion.  
1.6 This practice describes the outcomes at a high level, with limited discussion of each outcome or components of each outcome. The intent is to provide a framework for current and potential additional standards. A cross reference relating current standards to the outcomes is provided in Section 5.  
1.7 The outcomes further described in Section 5 are listed in the following:  
1.7.1 Process Management Outcomes:  
1.7.1.1 Outcome 1—Mission Support
1.7.1.2 Outcome 2—Accounting and Accountability
1.7.1.3 Outcome 3—Information Management
1.7.1.4 Outcome 4—Planning
1.7.1.5 Outcome 5—Relationships  
1.7.2 Operational Outcomes:  
1.7.2.1 Outcome 6—Asset Functionality for Intended Purpose
1.7.2.2 Outcome 7—Resource Optimization
1.7.2.3 Outcome 8—Asset Visibility
1.7.2.4 Outcome 9—Safety and Security
1.7.2.5 Outcome 10—Installation, Movement, and Storage  
1.8 In Section 5, a rating scale is provided to quantify in a uniform manner achievement of outcomes and outcome components.  
1.9 This practice, in combination with Practice E2279,...

General Information

• Status: Published
• Publication Date: 31-Jan-2022
• ICS: 03.060 - Finances. Banking. Monetary systems. Insurance
• Technical Committee: E53 - Asset Management
• Drafting Committee: E53.01 - Process Management

Relations

• Refers: ASTM E2608-20 - Standard Practice for Equipment Control Matrix (ECM)
• Effective Date: 01-Jul-2020
• Refers: ASTM E2962-14(2020) - Standard Guide for Fleet Management
• Effective Date: 01-Jul-2020
• Refers: ASTM E2279-20 - Standard Practice for Establishing the Guiding Principles of Property Asset Management
• Effective Date: 01-Jul-2020
• Refers: ASTM E3015-15(2020) - Standard Guide for Management of Customer-Owned Property Assets in Possession of Supplier, Contractor or Subcontractor
• Effective Date: 01-Jul-2020
• Refers: ASTM E2676-09(2020) - Standard Practice for Tangible Property Mobility Index (MI)
• Effective Date: 01-Jul-2020
• Refers: ASTM E3210-19 - Standard Practice for Infrastructure Management
• Effective Date: 01-Oct-2019
• Refers: ASTM E3221-19 - Standard Guide for Motorized Equipment
• Effective Date: 15-Sep-2019
• Refers: ASTM E3140-19 - Standard Guide for Asset Management Career Development, Education, and Training
• Effective Date: 01-Jul-2019
• Refers: ASTM E2453-19 - Standard Practice for Estimating the Life-Cycle Cost of Ownership of Property Assets
• Effective Date: 01-May-2019
• Refers: ASTM E2378-19 - Standard Practice for the Recognition of Impaired or Retired Property Assets
• Effective Date: 01-May-2019
• Refers: ASTM E2452-12(2019) - Standard Practice for Equipment Management Process Maturity (EMPM) Model
• Effective Date: 01-May-2019
• Refers: ASTM E2499-18 - Standard Practice for Classification of Asset Location Information
• Effective Date: 01-Jul-2018
• Refers: ASTM E2495-18 - Standard Practice for Prioritizing Asset Resources in Acquisition, Utilization, and Disposition
• Effective Date: 01-Jul-2018
• Refers: ASTM E3173-18 - Standard Guide for Decommissioning and Disposal of Medical Equipment
• Effective Date: 01-Jul-2018
• Refers: ASTM E2306-18 - Standard Guide for Disposal of Personal Property Assets
• Effective Date: 01-Jul-2018

Overview

ASTM E2675-22, Standard Practice for Asset Management System Outcomes, provides a comprehensive framework for assessing and understanding the expected outcomes of an asset management system. Developed by ASTM Committee E53, this standard is designed to measure performance achievement-not simply process or design-and is applicable across all asset-holding organizations. By emphasizing outcome-based assessment, ASTM E2675-22 enables organizations to align asset management activities with organizational objectives, foster continuous improvement, and communicate results effectively with stakeholders.

Key Topics

• Performance vs. Design Standards
  ASTM E2675-22 distinguishes between performance standards (focused on achievement of results) and design standards (focused on process or structures). This practice measures whether intended outcomes are accomplished, rather than specifying how to achieve them.

• Asset Management System Outcomes
  The standard defines two primary outcome groups:

  • Process Management Outcomes: These focus on system-level achievements such as Mission Support, Accounting and Accountability, Information Management, Planning, and Relationships.
  • Operational Outcomes: These address tangible results at the item level, including Asset Functionality, Resource Optimization, Asset Visibility, Safety and Security, and Installation, Movement, and Storage.

• Outcome Components
  Each outcome is further broken down into specific components. For example, Resource Optimization covers sustainability, maintenance, loss consequence reduction, and planning for obsolescence. This segmentation allows for precise measurement and targeted improvements.

• Measurement and Scoring
  ASTM E2675-22 offers a uniform rating scale (typically 1–10) to quantify achievement of each outcome and its components, ensuring consistency and transparency across assessments.

• Framework for Future Standards
  The standard acts as a blueprint to foster the development of related standards and practices, including personal and management skills essential for achieving desired asset management outcomes.

Applications

• Organizational Assessment
  Entities can use ASTM E2675-22 to systematically assess the robustness and effectiveness of their asset management systems, identifying strengths and areas for future improvement.

• Decision Making
  By clearly defining and measuring asset management outcomes, organizations gain a solid basis for strategic decisions regarding asset investment, optimization, and risk management.

• Benchmarking and Communication
  The standard facilitates benchmarking between organizations and supports clear communication of asset management system performance to internal and external stakeholders.

• Compliance and Integration
  ASTM E2675-22 complements legal and regulatory requirements, such as the Federal Acquisition Regulation (FAR) and integrates seamlessly with other asset management-related standards, providing a holistic approach to asset accountability and transparency.

Related Standards

ASTM E2675-22 is designed to work alongside a suite of asset management standards and guides, such as:

• ASTM E2135: Terminology for Property and Asset Management
• ASTM E2279: Establishing the Guiding Principles of Property Asset Management
• ASTM E2452: Equipment Management Process Maturity (EMPM) Model
• ASTM E2608: Equipment Control Matrix (ECM)
• ASTM E2936: Guide for Contractor Self-Assessment for U.S. Government Asset Management Systems
• ISO 55000: Asset management-Overview, principles, and terminology

Other relevant standards from the ASTM E53 Committee address inventory verification, loss reporting, asset visibility, risk management, and more, contributing to a comprehensive asset management system that is both effective and performance-driven.

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Keywords: asset management system, ASTM E2675-22, performance standards, asset functionality, resource optimization, asset visibility, asset management outcomes, process management outcomes, operational outcomes, asset accountability, risk management, asset lifecycle, benchmarking, compliance.

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: E2675 − 22
Standard Practice for
Asset Management System Outcomes
This standard is issued under the fixed designation E2675; 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.
1. Scope 1.6 This practice describes the outcomes at a high level,
withlimiteddiscussionofeachoutcomeorcomponentsofeach
1.1 This practice describes expected outcomes associated
outcome. The intent is to provide a framework for current and
with an asset management system. It is a measure of achieve-
potential additional standards. A cross reference relating cur-
ment rather than process and is performance oriented rather
rent standards to the outcomes is provided in Section 5.
than design oriented.
1.7 TheoutcomesfurtherdescribedinSection5arelistedin
1.2 Outcomes are defined as information, events, objects, or
the following:
states of being produced as a result or consequence of an
1.7.1 Process Management Outcomes:
objective, plan, process, accident, effort, or other similar action
1.7.1.1 Outcome 1—Mission Support
or occurrence and can be expressed in a quantitative or
1.7.1.2 Outcome 2—Accounting and Accountability
qualitative manner.
1.7.1.3 Outcome 3—Information Management
1.3 An output measure is the tabulation, calculation, or
1.7.1.4 Outcome 4—Planning
recording of activity or effort and can be expressed in a
1.7.1.5 Outcome 5—Relationships
quantitative or qualitative manner. For example, an output is
1.7.2 Operational Outcomes:
driving 100 mph; an outcome is arriving safely.
1.7.2.1 Outcome 6—Asset Functionality for Intended Pur-
pose
1.4 An outcome measure is an assessment of the results of
1.7.2.2 Outcome 7—Resource Optimization
a program activity compared to its intended purpose. This
1.7.2.3 Outcome 8—Asset Visibility
practice assumes that inputs are correlated to known or
1.7.2.4 Outcome 9—Safety and Security
declared outputs of the system or system component being
1.7.2.5 Outcome 10—Installation, Movement, and Storage
assessed.
1.8 In Section 5, a rating scale is provided to quantify in a
1.5 Consistent with Practice E2452 (EMPM), these out-
uniform manner achievement of outcomes and outcome com-
comes are grouped into process management outcomes and
ponents.
operational outcomes.
1.5.1 Although they may be directly related, strategies and
1.9 This practice, in combination with Practice E2279,
tactics should not be confused with outcomes. Strategies are
clarifies and enables effective and efficient control and tracking
long-term plans of action designed to achieve a particular goal.
of assets and may provide an enhanced basis for making
Tactics are maneuvers or actions calculated to achieve some
decisions surrounding both property and property management
end. For example, increasing exercise is a strategy to attain the
systems.
goal or outcome of fitness. Running is a supporting tactic to
1.10 This practice is intended to be applicable and appro-
achieve the goal or outcome of fitness. Other tactics or groups
priate for all asset-holding entities.
oftacticsmayachievethesameoutcome.Ontheotherhand,as
1.11 This practice covers tangible assets and tangible prop-
the definition of outcome indicates, tactics are not required for
erty as defined in Terminology E2135. Consistent with the
attaining outcomes. For example, fitness may be an unplanned
nomenclature used, individual portions of the practice may be
result of a job requiring physical exertion.
applicable to more limited subsets of tangible assets, for
example, to equipment and not to material.
1.12 This practice assumes competence and subject matter
This practice is under the jurisdiction of ASTM Committee E53 on Asset
Management and is the direct responsibility of Subcommittee E53.01 on Process
expertise of those performing the assessment and those being
Management.
assessed.(Forexample,asspecifiedintheGAOYellowBook.)
Current edition approved Feb. 1, 2022. Published March 2022. Originally
The use of professional judgment by asset management pro-
approved in 2009. Last previous edition approved in 2014 as E2675–09 (2014).
DOI: 10.1520/E2675-22. fessionals is required to achieve desired outcomes.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States
E2675 − 22
1.13 This standard does not purport to address all of the E2812 Practice for Uniform Data Management in Asset
safety concerns, if any, associated with its use. It is the Management Records Systems
responsibility of the user of this standard to establish appro- E2858 Practice for Sales of Personal Property
priate safety, health, and environmental practices and deter- E2936 Guide for Contractor Self-Assessment for U.S. Gov-
mine the applicability of regulatory limitations prior to use. ernment Asset Management Systems
1.14 This international standard was developed in accor- E2962 Guide for Fleet Management
dance with internationally recognized principles on standard- E3015 Guide for Management of Customer-Owned Property
ization established in the Decision on Principles for the Assets in Possession of Supplier, Contractor or Subcon-
Development of International Standards, Guides and Recom- tractor
mendations issued by the World Trade Organization Technical E3056 Guide for Strategic Warehousing
Barriers to Trade (TBT) Committee. E3140 Guide for Asset Management Career Development,
Education, and Training
2. Referenced Documents E3173 Guide for Decommissioning and Disposal of Medical
Equipment
2.1 ASTM Standards:
E3210 Practice for Infrastructure Management
E2131 Practice for Addressing and Reporting Losses of
E3221 Guide for Motorized Equipment
Tangible Property
2.2 Federal Documents:
E2132 Practice for Inventory Verification: Electronic and
FAR Federal Acquisition Regulation
Physical Inventory of Assets
GAO-18–568G Government Auditing Standards: 2018 Re-
E2135 Terminology for Property and Asset Management
vision (The GAO Yellow Book)
E2279 Practice for Establishing the Guiding Principles of
2.3 ISO Standard:
Property Asset Management
ISO 55000 Asset management — Overview, principles and
E2306 Guide for Disposal of Personal Property Assets
terminology
E2378 Practice for the Recognition of Impaired or Retired
Property Assets
3. Terminology
E2452 Practice for Equipment Management Process Matu-
3.1 Definitions—For definitions relating to property and
rity (EMPM) Model
asset management, refer to Terminology E2135.
E2453 Practice for Estimating the Life-Cycle Cost of Own-
3.1.1 asset, n—item, thing, or entity that has potential or
ership of Property Assets
actual value to an organization. ISO 55000
E2495 Practice for Prioritizing Asset Resources in
Acquisition, Utilization, and Disposition
3.1.2 asset functionality, n—set of functions that an asset is
E2497 Practice for Calculation of Asset Movement Velocity
able or equipped to perform.
(AMV)
3.1.3 asset management system, n—subset of organizational
E2499 Practice for Classification ofAsset Location Informa-
policies, processes, procedures, and people related to the
tion
management assets.
E2604 Practice for Data Characteristics of Personal Property
3.1.3.1 Discussion—These processes represent sound prac-
Asset Record
tice and are compliant with applicable standards, policies,
E2605 Practice for Receiving Assets
regulations, and contractual requirements.
E2606 Practice for Receipt Notification as a Result of
3.1.4 best value, n—expected outcome of an acquisition that
Tangible Asset Movement
provides the greatest overall benefit in response to the require-
E2607 Practice for Cannibalization/Reclamation of Service-
ment.
ableEquipmentComponentstoSupportDemandRequire-
3.1.5 information management, n—collection and manage-
ments
ment of information from one or more sources and the
E2608 Practice for Equipment Control Matrix (ECM)
distribution of that information to one or more audiences.
E2631 Practice for Physical Placement of an Entity-
E2675
Controlled Supplemental Identification Label
3.1.5.1 Discussion—This sometimes involves those who
E2671 Practice for Defining Movements, Shipments, and
have a stake in or a right to that information. Management
Transfers of Tangible Property
means the organization of and control over the structure,
E2672 PracticeforIdentificationandCategorizationofTool-
processing, and delivery of information.
ing
E2676 Practice for Tangible Property Mobility Index (MI)
3.1.6 operations, n—exercise of tasks.
E2715 Practice for Moveable Property Storage
3.1.7 opportunity, n—a potential positive impact.
E2811 Practice for Management of Low Risk Property
(LRP)
Available from U.S. General Services Administration (GSA), https://
www.acquisition.gov/browse/index/far.
AvailablefromU.S.GovernmentAccountabilityOffice(GAO),441GSt.,NW,
For referenced ASTM standards, visit the ASTM website, www.astm.org, or Washington, DC 20548, http://www.gao.gov.
contact ASTM Customer Service at [e-mail]. For Annual Book of ASTM Available from International Organization for Standardization (ISO), ISO
Standards volume information, refer to the standard’s Document Summary page on Central Secretariat, Chemin de Blandonnet 8, CP 401, 1214 Vernier, Geneva,
the ASTM website. Switzerland, https://www.iso.org.
E2675 − 22
3.1.8 opportunity assessment, n—evaluating conditions to 3.1.22 tactic, n—maneuver or action calculated to achieve
achieve objectives. some end.
3.1.9 outcome, n—information, event, object, or state of 3.2 Acronyms and Abbreviations:
being produced as a result or consequence of a plan, process, 3.2.1 ECM—equipment control matrix
accident, effort, or other similar action or occurrence. E2135
3.2.2 EMPM—equipment management process maturity
3.1.10 outcome measure, n—an assessment of the results of
3.2.3 FAR—Federal Acquisition Regulation
a program activity compared to its intended purpose. E2135
3.1.11 output measure, n—the tabulation, calculation, or 4. Significance and Use
recording of activity or effort and can be expressed in a
4.1 This practice establishes expected outcomes associated
quantitative or qualitative manner. E2135
with an asset management system.
3.1.12 process management, n—planning and administering
4.2 Understand the difference between performance stan-
the activities necessary to achieve a desired level of perfor-
dards and design standards—these are primarily performance
mance and identifying opportunities for improving quality,
statementsversusdesignstatements.Whatisbeingmeasuredis
operational performance, and ultimately, customer satisfaction.
achievement, not process.
E2135
4.3 Thispracticeencouragesaninclusiveunderstandingand
3.1.12.1 Discussion—It involves design, control, and im-
communication of the outcomes associated with an asset
provement of key business processes.
management system. As additional standards are added, com-
3.1.13 record utility, n—overall measure of structured asset
parisons on this basis to other asset management systems can
records based on the usefulness of stored, standardized, and
be further enabled.
appropriately available information of sufficient accuracy and
4.4 This practice, in combination with Practice E2279,
reliabilitytorespondreasonablytoorganizationalrequirements
should provide an enhanced basis for making decisions sur-
in a timely manner.
rounding both assets and asset management systems.
3.1.14 resource optimization, n—asset management system
4.5 This practice is intended to foster and enable additional
outcome characterized by the minimization of asset holdings
standardpracticesrelatedtoorbasedonthetermsandconcepts
while assuring entity requirements for assets are met.
in the outcomes and outcome components. In particular, this
3.1.15 return on investment, n—earning power of assets
practice may suggest a standard for personal and management
measured as the ratio of the net income (profit less deprecia-
skills useful in efforts to achieve these outcomes.
tion) to the average capital used (or equity capital) in a firm or
4.6 This practice is to evaluate how robust the asset man-
project.
agement system is, and guide future corrections and improve-
3.1.15.1 Discussion—Usually expressed as a percentage, it
ments.
is a measure of the profitability that (while not taking the time
value of money into account) indicates whether or not a firm is
5. Asset Management System Outcomes
using its resources in an efficient manner.
5.1 Process Management Outcomes—Process management
3.1.16 risk, n—concept that denotes a potential negative
outcomes are system level outcomes.
impact.
5.1.1 Outcome 1: Mission Support:
3.1.17 risk assessment, n—determination of quantitative or
5.1.1.1 Outcome Component 1.1: Mission Support—The
qualitative value of risk related to a concrete situation and a
Asset Management System should support the mission and
recognized threat.
objectives of the Organization of which it is a part.
3.1.17.1 Discussion—Risk assessment is considered as the
5.1.2 Outcome 2: Accounting and Accountability—There
initial and recurring step in a risk management process.
are five outcome components of Outcome 2: (2.1) asset
3.1.18 risk management, n—structured approach to manag-
accountability and responsibility, (2.2) best value, (2.3)
ing uncertainty through risk assessment, developing strategies
accounting/financial management, (2.4) effectiveness and
tomanageit,andmitigationofriskusingmanagerialresources.
efficiency, and (2.5) Return on Investment.
3.1.18.1 Discussion—Strategies include transferring the risk
5.1.2.1 Outcome Component 2.1: Asset Accountability and
to another party, avoiding the risk, reducing the negative effect Responsibility—Asset management is concerned with the man-
of the risk, and accepting some or all of the consequences of a
agement of specific rights and responsibilities associated with
particular risk. individual assets and groups of assets available to the entity for
use.Thesespecificrightsandresponsibilitiesareasubsetofthe
3.1.19 strategy, n—long-term plan of action designed to
total bundle of rights and responsibilities of the asset owner or
achieve a particular goal.
assignee that have been conveyed to the entity. This includes
3.1.20 sustainability, n—system of actions, projected to be
internal organizational, sub-organizational, and individual re-
viable on an ongoing basis.
sponsibility for assets used or assigned. Attention to relief of
3.1.21 system level outcome, n—outcomes based on the accountability is a critical element in policies and procedures
policies, procedures, and tools that are in place to manage and must designate when responsibility or liability for an asset
assets, regardless of ownership. ends or is transferred to a new recipient.
E2675 − 22
5.1.2.2 Outcome Component 2.2: Best Value—Best value (1) Self assessment, using the EMPM model (Practice
includestheconceptsofefficiencyandeffectiveness.Theentity E2452), Contractor Self Assessment (Guide E2936), or other
comparable methodology,
seeks the best value in the long term in the use and mainte-
(2) External or independent reviews,
nance of assets (Practice E2279).
(3) Risk assessment and risk management, and
5.1.2.3 Outcome Component 2.3: Accounting/Financial
(4) Opportunity assessment and opportunity management.
Management—This includes accurate and timely financial
5.1.4.2 Outcome Component 4.2: Anticipate and Prepare
recognition and accounting, auditability, and substantiation.
for the Future:
5.1.2.4 Outcome Component 2.4: Effectiveness and
(1) Planning of various types including: strategic planning,
Effıciency—Asset management practices must seek, when
tactical planning, compliance planning, and financial planning.
viewed in totality, to be effective and efficient, to the point at
(2) Anticipate changes and impacts to the operational
which benefits exceed the costs of operation (Practice E2279).
environment, and plan for lifecycle management activities
5.1.2.5 Outcome Component 2.5: Return on Investment—
including those referenced in Outcomes 6 (5.2.1) through 10
Earning power of property measured as the ratio of the net
(5.2.5).
income (profit less depreciation) to the average capital em-
(3) Education and training as appropriate for stakeholders
ployed (or equity capital) in a firm or project. Expressed
at various levels of involvement.
usually as a percentage, it is a measure of the profitability that
(4) Professional Involvement—Recognize the value of par-
(while not taking the time value of money into account)
ticipation and contributions to professional organizations and
indicates whether or not a firm is using its resources in an
other peer groups.
efficient manner. (5) Staffing.
(6) Technology Insertion—Insertion of new technologies is
5.1.3 Outcome 3: Information Management—There are two
consistently considered with emphasis on accurate life-cycle
major components of Outcome 3: (3.1) record utility and (3.2)
cost of the technology and full benefits of the technology.
reporting.
(7) Continuous improvement.
5.1.3.1 Outcome Component 3.1: Record Utility:
(8) Supply chain planning takes into consideration issues
(1) Record utility is an overall measure of structured asset
such as supply and demand, warehousing needs, parts scarcity,
records based on the usefulness of stored, standardized, and
sources of supply, and other factors that may impact an
appropriately available information of sufficient accuracy and
organization’s ability to perform its objectives.
reliability to reasonably respond to entity requirements in a
5.1.5 Outcome 5: Relationships (Stakeholder
timely manner. In other words, the outcome is appropriately
Satisfaction)—There are two major components of Outcome 5:
usefulrecordinformationbasedonthecontrolclassoftheasset
(5.1) compliance and (5.2) interface.
or class of asset and other factors. One facet of record utility as
5.1.5.1 Outcome Component 5.1: Compliance—
an outcome is simply having the right data when it is needed.
Compliance includes policies and procedures.
The optimal record utility outcome is collecting and storing the
(1) Internal—Awareness, understanding, and conformance
proper data so when information is requested there is neither a
to policies, procedures and internal controls.
delay nor a special data call required to fulfill the request.
(2) External—Awareness,understanding,andconformance
Excessive storage, standardization, or availability of informa-
to standards and special provisions inherent to the operating
tion may be inefficient and ineffective.
environment including applicable laws, regul
...

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: E2675 − 09 (Reapproved 2014) E2675 − 22
Standard Practice for
PropertyAsset Management System Outcomes
This standard is issued under the fixed designation E2675; 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.
1. Scope
1.1 This practice describes expected outcomes associated with a propertyan asset management system. It is a measure of
achievement rather than process,process and is descriptive performance oriented rather than prescriptive.design oriented.
1.2 Outcomes are defined as information, events, objects, or states of being produced as a result or consequence of a an objective,
plan, process, accident, effort, or other similar action or occurrence.occurrence and can be expressed in a quantitative or qualitative
manner.
1.3 An output measure is the tabulation, calculation, or recording of activity or effort and can be expressed in a quantitative or
qualitative manner. For example, an output is driving 100 mph; an outcome is arriving safely.
1.4 An outcome measure is an assessment of the results of a program activity compared to its intended purpose. This practice
assumes that inputs are correlated to known or declared outputs of the system or system component being assessed.
1.5 Consistent with Practice E2452, (EMPM), these outcomes are grouped into process management outcomes and operational
outcomes.
1.5.1 Although they may be directly related, strategies and tactics should not be confused with outcomes. Strategies are long-term
plans of action designed to achieve a particular goal. Tactics are maneuvers or actions calculated to achieve some end. For example,
increasing exercise is a strategy to attain the goal or outcome of fitness. Running is a supporting tactic to achieve the goal or
outcome of fitness. Other tactics or groups of tactics may achieve the same outcome. On the other hand, as the definition of
outcome indicates, tactics are not required for attaining outcomes. For example, fitness may be an unplanned result of a job
requiring physical exertion.
1.6 This practice describes the outcomes at a high level, with limited discussion of each outcome or components of each outcome.
The intent is to provide a framework for current and potential additional standards. A cross reference relating current standards to
the outcomes is provided in Section 5.
1.7 The outcomes further described in Section 5, are listed in the following:
1.7.1 Process Management Outcomes:
1.7.1.1 Outcome 1—Mission Support
This practice is under the jurisdiction of ASTM Committee E53 on Asset Management and is the direct responsibility of Subcommittee E53.01 on Process Management.
Current edition approved June 1, 2014Feb. 1, 2022. Published June 2014March 2022. Originally approved in 2009. Last previous edition approved in 20092014 as
E2675–09. –09 (2014). DOI: 10.1520/E2675-09R14.10.1520/E2675-22.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States
E2675 − 22
1.7.1.2 Outcome 2—Accounting and Accountability
1.7.1.3 Outcome 3—Information Management
1.7.1.4 Outcome 4—Planning
1.7.1.5 Outcome 5—Relationships
1.7.2 Operational Outcomes:
1.7.2.1 Outcome 6—Property Functionality6—Asset Functionality for Intended Purpose
1.7.2.2 Outcome 7—Resource Optimization
1.7.2.3 Outcome 8—Property8—Asset Visibility
1.7.2.4 Outcome 9—Safety and Security
1.7.2.5 Outcome 10—Installation, Movement, and Storage
1.8 In Section 5, a rating scale is provided to quantify in a uniform manner achievement of outcomes and outcome components.
1.9 This practice, in combination with Practice E2279, clarifies and enables effective and efficient control and tracking of
propertyassets and may provide an enhanced basis for making decisions surrounding both property and property management
systems.
1.10 This practice is intended to be applicable and appropriate for all property-holdingasset-holding entities.
1.11 This practice covers tangible assets and tangible property as defined in Terminology E2135. Consistent with the nomenclature
used, individual portions of the practice may be applicable to more limited subsets of tangible property,assets, for example, to
equipment and not to material.
1.12 This practice assumes competence and subject matter expertise of those performing the assessment and those being assessed.
(For example, as specified in the GAO Yellow Book.) The use of professional judgment by asset management professionals is
required to achieve desired outcomes.
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1.13 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 safety, health, and healthenvironmental practices and determine the
applicability of regulatory limitations prior to use.
1.14 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.
2. Referenced Documents
2.1 ASTM Standards:
E2131 Practice for Addressing and Reporting Losses of Tangible Property
E2132 Practice for Inventory Verification: Electronic and Physical Inventory of Assets
E2135 Terminology for Property and Asset Management
E2221 Practice for Administrative Control of Property (Withdrawn 2011)
E2279 Practice for Establishing the Guiding Principles of Property Asset Management
E2306 Guide for Disposal of Personal Property Assets
E2378 Practice for the Recognition of Impaired or Retired Property Assets
E2379 Practice for Property Management for Career Development and Training (Withdrawn 2013)
E2452 Practice for Equipment Management Process Maturity (EMPM) Model
E2453 Practice for Estimating the Life-Cycle Cost of Ownership of Property Assets
E2495 Practice for Prioritizing Asset Resources in Acquisition, Utilization, and Disposition
E2497 Practice for Calculation of Asset Movement Velocity (AMV)
E2499 Practice for Classification of Asset Location Information
E2604 Practice for Data Characteristics of Personal Property Asset Record
E2605 Practice for Receiving Assets
E2606 Practice for Receipt Notification as a Result of Tangible Asset Movement
E2607 Practice for Cannibalization/Reclamation of Serviceable Equipment Components to Support Demand Requirements
E2608 Practice for Equipment Control Matrix (ECM)
E2631 Practice for Physical Placement of an Entity-Controlled Supplemental Identification Label
E2671 Practice for Defining Movements, Shipments, and Transfers of Tangible Property
E2672 Practice for Identification and Categorization of Tooling
E2676 Practice for Tangible Property Mobility Index (MI)
E2715 Practice for Moveable Property Storage
E2811 Practice for Management of Low Risk Property (LRP)
E2812 Practice for Uniform Data Management in Asset Management Records Systems
E2858 Practice for Sales of Personal Property
E2936 Guide for Contractor Self-Assessment for U.S. Government Asset Management Systems
E2962 Guide for Fleet Management
E3015 Guide for Management of Customer-Owned Property Assets in Possession of Supplier, Contractor or Subcontractor
E3056 Guide for Strategic Warehousing
E3140 Guide for Asset Management Career Development, Education, and Training
E3173 Guide for Decommissioning and Disposal of Medical Equipment
E3210 Practice for Infrastructure Management
E3221 Guide for Motorized Equipment
2.2 Federal Documents:
FAR Federal Acquisition Regulation
GAO-18–568G Government Auditing Standards: 2018 Revision (The GAO Yellow Book)
2.3 ISO Standard:
ISO 55000 Asset management — Overview, principles and terminology
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.
The last approved version of this historical standard is referenced on www.astm.org.Available from U.S. General Services Administration (GSA), https://
www.acquisition.gov/browse/index/far.
The Online Business Dictionary, s.v. “return on investment,” http://www.businessdictionary.com (accessed February 1, 2009).Available from U. S. Government
Accountability Office (GAO), 441 G St., NW, Washington, DC 20548, http://www.gao.gov.
Available from International Organization for Standardization (ISO), ISO Central Secretariat, Chemin de Blandonnet 8, CP 401, 1214 Vernier, Geneva, Switzerland,
https://www.iso.org.
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3. Terminology
3.1 Definitions—For definitions relating to property and asset management, refer to Terminology E2135.
3.1.1 asset, n—(1)item, anything owned having monetary value; thing, (2) tangible or intangible items owned by an entity that
have probable economic benefits that can be obtained or controlled by the entity.or entity that has potential or actual value to an
organization. (ISOE2135) 55000
3.1.2 asset functionality, n—set of functions that an asset is able or equipped to perform.
3.1.3 asset management system, n—subset of organizational policies, processes, procedures, and people related to the management
assets.
3.1.3.1 Discussion—
These processes represent sound practice and are compliant with applicable standards, policies, regulations, and contractual
requirements.
3.1.4 best value, n—expected outcome of an acquisition that provides the greatest overall benefit in response to the requirement.
3.1.5 information management, n—collection and management of information from one or more sources and the distribution of
that information to one or more audiences. E2675
3.1.5.1 Discussion—
This sometimes involves those who have a stake in or a right to that information. Management means the organization of and
control over the structure, processing, and delivery of information.
3.1.6 operations, n—exercise of the tasks that constitute equipment management. tasks. (E2452)
3.1.7 opportunity, n—concept that denotes a potential positive impact.
3.1.8 opportunity assessment, n—assessing external conditions that are helpful to achievingevaluating conditions to achieve
objectives.
3.1.7 opportunity management, n—managing external conditions that are helpful to achieving objectives.
3.1.9 outcome, n—information, event, object, or state of being produced as a result or consequence of a plan, process, accident,
effort, or other similar action or occurrence. E2135
3.1.10 outcome measure, n—an assessment of the results of a program activity compared to its intended purpose. E2135
3.1.11 output measure, n—the tabulation, calculation, or recording of activity or effort and can be expressed in a quantitative or
qualitative manner. E2135
3.1.12 process management, n—planning and administering the activities necessary to achieve a desired level of performance and
identifying opportunities for improving quality, operational performance, and ultimately, customer satisfaction. (E2135)
3.1.12.1 Discussion—
It involves design, control, and improvement of key business processes.
3.1.12 property functionality, n—set of functions that an asset is able or equipped to perform.
3.1.13 property management system, n—subset of existing organizational processes related to the lifecycle management of
property. (E2135)
3.1.13.1 Discussion—
These processes represent sound practice and are compliant with applicable standards, policies, regulations, and contractual
requirements.
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3.1.13 record utility, n—overall measure of structured propertyasset records based on the usefulness of stored, standardized, and
appropriately available information of sufficient accuracy and reliability to respond reasonably to entityorganizational requirements
in a timely manner.
3.1.14 resource optimization, n—propertyasset management system outcome characterized by the minimization of asset holdings
while assuring entity requirements for assets are met.
3.1.15 return on investment, n—earning power of assets measured as the ratio of the net income (profit less depreciation) to the
average capital used (or equity capital) in a firm or project. (Online Business Dictionary )
3.1.15.1 Discussion—
Usually expressed as a percentage, it is a measure of the profitability that (while not taking the time value of money into account)
indicates whether or not a firm is using its resources in an efficient manner.
3.1.16 risk, n—concept that denotes a potential negative impact.
3.1.17 risk assessment, n—determination of quantitative or qualitative value of risk related to a concrete situation and a recognized
threat.
3.1.17.1 Discussion—
Risk assessment is considered as the initial and recurring step in a risk management process.
3.1.18 risk management, n—structured approach to managing uncertainty through risk assessment, developing strategies to
manage it, and mitigation of risk using managerial resources.
3.1.18.1 Discussion—
Strategies include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting
some or all of the consequences of a particular risk.
3.1.19 strategy, n—long-term plan of action designed to achieve a particular goal.
3.1.20 sustainability, n—system of actions, projected to be viable on an ongoing basis.
3.1.21 system level outcome, n—outcomes based on the policies, procedures, and tools that are in place to manage property,assets,
regardless of ownership.
3.1.22 tactic, n—maneuver or action calculated to achieve some end.
3.2 Acronyms:Acronyms and Abbreviations:
3.2.1 ECM—equipment control matrix
3.2.2 EMPM—equipment management process maturity
3.2.3 FAR—Federal Acquisition Regulation
3.2.4 LDD—loss, damage, and destruction
4. Significance and Use
4.1 This practice establishes expected outcomes associated with a propertyan asset management system.
4.2 Care should be taken not to confuse tactics with the outcomes described in this practice. Tactics are a means to an end.
Outcomes are an end.
4.2 Understand the difference between performance standards and design standards—these are primarily performance statements
versus design statements. What is being measured is achievement, not process.
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4.3 This practice encourages an inclusive understanding and communication of the outcomes associated with a propertyan asset
management system. As additional standards are added, comparisons on this basis to other propertyasset management systems can
be further enabled.
4.4 This practice, in combination with Practice E2279, mayshould provide an enhanced basis for making decisions surrounding
both propertyassets and propertyasset management systems.
4.5 This practice is intended to foster and enable additional standard practices related to or based on the terms and concepts in
the outcomes and outcome components. In particular, this practice may suggest a standard for personal and management skills
useful in efforts to achieve these outcomes.
4.6 In particular, this practice may suggest a standard for personal and management skills useful in efforts to achieve these
outcomes.This practice is to evaluate how robust the asset management system is, and guide future corrections and improvements.
5. PropertyAsset Management System Outcomes
5.1 Process Management Outcomes—Process management outcomes are system level outcomes.
5.1.1 Outcome 1: Mission Support:
5.1.1.1 Outcome Component 1.1: Mission Support—The PropertyAsset Management System should support the mission and
objectives of the entityOrganization of which it is a part.
5.1.2 Outcome 2: Accounting and Accountability—There are fourfive outcome components of Outcome 2: (2.1) propertyasset
accountability and responsibility, (2.2) best value, (2.3) accounting/financial management, and (2.4) effectiveness and
efficiency.efficiency, and (2.5) Return on Investment.
5.1.2.1 Outcome Component 2.1: PropertyAsset Accountability and Responsibility—PropertyAsset management is concerned with
the management of specific rights and responsibilities associated with individual assets and groups of assets available to the entity
for use. These specific rights and responsibilities are a subset of the total bundle of rights and responsibilities of the propertyasset
owner or assignee that have been conveyed to the entity. This includes internal organizational, sub-organizational, and individual
responsibility for propertyassets used or assigned. Attention to relief of accountability is a critical element in policies and
procedures and must designate when responsibility or liability for an asset ends or is transferred to a new recipient.
5.1.2.2 Outcome Component 2.2: Best Value—Best value includes the concepts of efficiency and effectiveness. The entity seeks
the best value in the long term in the use and maintenance of propertyassets (Practice E2279).
5.1.2.3 Outcome Component 2.3: Accounting/Financial Management—This includes accurate and timely financial recognition and
accounting.accounting, auditability, and substantiation.
5.1.2.4 Outcome Component 2.4: Effectiveness and Effıciency—PropertyAsset management practices must seek, when viewed in
totality, to be effective and efficient, to the point at which benefits exceed the costs of operation (Practice E2279).
5.1.2.5 Outcome Component 2.5: Return on Investment—Earning power of property measured as the ratio of the net income (profit
less depreciation) to the average capital employed (or equity capital) in a firm or project. Expressed usually as a percentage, it is
a measure of the profitability that (while not taking the time value of money into account) indicates whether or not a firm is using
its resources in an efficient manner.
5.1.3 Outcome 3: Information Management—There are two major components of Outcome 3: (3.1) record utility and (3.2)
reporting.
5.1.3.1 Outcome Component 3.1: Record Utility:
(1) Record utility is an overall measure of structured propertyasset records based on the usefulness of stored, standardized, and
appropriately available information of sufficient accuracy and reliability to reasonably respond to entity requirements in a timely
manner. In other words, the outcome is appropriately useful record information based on the control class of the property asset or
class of propertyasset and other factors. One facet of record utility as an outcome is simply having the right data when it is needed.
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The optimal record utility outcome is collecting and storing the proper data so when information is requested there is neither a
delay nor a special data call required to fulfill the request. Excessive storage, standardization, or availability of information may
be inefficient and ineffective.
(2) While conducting a physical inventory is a tactic, an outcome of a physical inventory could be physical inventory accuracy.
However, such a potential outcome is a limited snapshot produced by a process that of course has its own accuracy concerns. A
more consistent and dependable outcome would then perhaps be record accuracy. In accordance with Practice E2608, not all items
are tracked to the same level of control or accuracy. Therefore, extending the concepts of Practices E2279 and E2608, a more
meaningful outcome here is record utility. For example, identification (tagging) is a tactic to support record utility. In accordance
with Practice E2608, some property may appropriately not be tagged nor have control records created.
5.1.3.2 Outcome Component 3.2: Reporting—Fully scalable, flexible, responsive strategic and tactical reporting capability,
available as needed, where needed. Reporting includes individual item reports, summary reports, and metrics. It also includes
conceptual level presentations and reports derived from property control system information. The purpose of reporting is primarily
for decision-making purposes. Information reported should be useful to support the mission and objectives of the organization.
5.1.4 Outcome 4: Planning—There are two major components of Outcome 4: (4.1) awareness of opportunities and risks and (4.2)
anticipate and prepare for the future.
5.1.4.1 Outcome Component 4.1: Awareness of Opportunities and Risks—Awareness should lead to consideration of options for
action or inaction. informs decision-makers to take or refrain from taking action. In accordance with the provisions of Practice
E2279, individuals should be empowered to take action within established operational parameters and constraints and as
appropriate inform relevant stakeholders, especially cognizant management, of significant risks and opportunities. Tools for
awareness include:
(1) Self assessment, using the EMPM model (Practice E2452) ), Contractor Self Assessment (Guide E2936), or other
comparable methodology,
(2) External or independent reviews,
(3) Risk assessment and risk management, and
(4) Opportunity assessment and opportunity management.
5.1.4.2 Outcome Component 4.2: Anticipate and Prepare for the Future:
(1) Planning of various types including: strategic planning, tactical planning, compliance planning, and financial planning.
(2) Anticipate changes and impacts to the operational environment.environment, and plan for lifecycle management activities
including those referenced in Outcomes 6 (5.2.1) through 10 (5.2.5).
(3) Education and training as appropriate for stakeholders at various levels of involvement.
(4) Professional Involvement—Recognize the value of participation and contributions to professional organizations and other
peer groups.
(5) Staffing.
(6) Technology Insertion—Insertion of new technologies is consistently considered with emphasis on accurate life-cycle cost
of the technology and full benefits of the technology.
(7) Continuous improvement.
(8) Supply chain planning takes into consideration issues such as supply and demand, warehousing needs, parts scarcity,
sources of supply, and other factors that may impact an organization’s ability t
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