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ASTM E3257-21

(Practice)

Standard Practice for Asset Taxonomy

Standard Practice for Asset Taxonomy

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

General Information

Status
Published
Publication Date
31-Jul-2021
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

Refers
ASTM E2279-20 - Standard Practice for Establishing the Guiding Principles of Property Asset Management
Effective Date
01-Jul-2020

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ASTM E3257-21 - Standard Practice for Asset TaxonomyASTM E3257-21 - Standard Practice for Asset Taxonomy
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ASTM E3257-21 - Standard Practice for Asset Taxonomy
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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: E3257 − 21
Standard Practice for
1
Asset Taxonomy
This standard is issued under the fixed designation E3257; 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 3.1.1 air, n—physical, natural resource asset that is the
mixture of invisible odorless tasteless gases (such as nitrogen
1.1 This practice covers a useful hierarchical arrangement
and oxygen) that surrounds the earth.
of the breadth of asset types.
3.1.2 asset, n—item, thing, or entity that has potential or
1.2 This taxonomy is based on the innate characteristics of
actual value to an organization. (ISO 55000)
the asset, not on the asset’s use, cost, owner, or other factors.
3.1.3 asset taxonomy, n—the practice and science of classi-
1.3 Biological life forms are excluded.
fication of assets, including the principles that underlie such
1.4 This standard does not purport to address all of the
classification.
safety concerns, if any, associated with its use. It is the
3.1.4 classification, n—thethirdleveloftheassettaxonomy,
responsibility of the user of this standard to establish appro-
it includes major subdivisions of the domain level.
priate safety, health, and environmental practices and deter-
mine the applicability of regulatory limitations prior to use.
3.1.5 conceptual assets, n—non-physical assets pertaining
1.5 This international standard was developed in accor-
to concepts or to the forming of concepts, including manage-
dance with internationally recognized principles on standard-
ment control systems, perceptions, and knowledge.
ization established in the Decision on Principles for the
3.1.6 constructed assets, n—physical assets that exist as a
Development of International Standards, Guides and Recom-
result of actions of humankind.
mendations issued by the World Trade Organization Technical
3.1.7 data, n—virtual assets consisting of factual informa-
Barriers to Trade (TBT) Committee.
tion (such as measurements or statistics) used as a basis for
2. Referenced Documents
reasoning, discussion, or calculation.
2
2.1 ASTM Standards:
3.1.8 domain, n—the second level of the asset taxonomy, it
E2135 Terminology for Property and Asset Management
includes major subdivisions of the form level.
E2279 Practice for Establishing the Guiding Principles of
3.1.9 durable assets, n—constructed assets that are able to
Property Asset Management
3
exist for a long time without significant deterioration in quality
2.2 ISO Standards:
or value.
ISO 55000 Asset management — Overview, principles and
terminology
3.1.10 family, n—the fifth level of the asset taxonomy, it
ISO 55001 Asset management — Management systems —
includes subdivisions of the order level, and may be further
Requirements
subdivided into types.
3.1.11 form, n—the highest level of the asset taxonomy, it
3. Terminology
includes physical assets and non-physical assets.
3.1 Definitions—For definitions relating to property and
3.1.12 infrastructure assets, n—durable assets that are the
asset management, refer to Terminology E2135.
fundamental facilities and systems serving a country, city, or
other area.
1
This practice is under the jurisdiction of ASTM Committee E53 on Asset
Management and is the direct responsibility of Subcommittee E53.05 on Asset
3.1.13 knowledge, n—conceptual assets that are the fact or
Leadership.
condition of knowing something with familiarity gained
Current edition approved Aug. 1, 2021. Published September 2021. DOI:
through experience or association.
10.1520/E3257-21.
2
For referenced ASTM standards, visit the ASTM website, www.astm.org, or
3.1.14 land, n—physical, natural resource asset that is any
contact ASTM Customer Service at service@astm.org. For Annual Book of ASTM
part of the earth’s surface not covered by a body of water.
Standards volume information, refer to the standard’s Document Summary page on
the ASTM website.
3.1.15 management and control systems, n—conceptual as-
3
Available from International Organization for Standardization (ISO), ISO
sets that are tools to aid management for steering an organi-
Central Secretariat, Chemin de Blandonnet 8, CP 401, 1214 Vernier, Geneva,
Switzerland, https://www.iso.org. zation.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States
1

---------------------- Page: 1 ----------------------
E3257 − 21
3.1.16 moveable assets, n—durable assets that can be unload, maintain, and perform oth
...

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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.”  
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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.  
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SCOPE
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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.  
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FIG. 1 Overview of Significance and Use of this Guide
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SCOPE
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SCOPE
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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.  
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SCOPE
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Standard Practice for Inventory by Exception (IBE)

SIGNIFICANCE AND USE
5.1 Asset verification is conducted to assess the accuracy of asset records and verify information regarding the asset.  
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5.5 IBE allows the physical inventory process to only focus on locating assets that were not touched or physically inventoried.  
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SCOPE
1.1 This practice describes the method used to verify the existence of items on record using IBE. It does not provide a method for verification of completeness of records.  
1.2 In accordance with the provisions of Practice E2132, this practice clarifies the implementation of IBE as an effective and efficient inventory practice.  
1.3 This practice does not override or increase requirements specific to governmental authorities. To the greatest extent practicable, the guidance in this practice should be considered by these entities where efficiencies can be gained.  
1.4 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.  
1.5 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

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