oSIST prEN 17840:2022

Performance and condition assessment for buildings and civil engineering works - Framework for assessment within physical asset management

The standard:
□   specifies and gives guidance on the performance and condition assessment process of assets throughout the life cycle.
□   is developed with the building and civil engineering sector in mind, but can also be used in other areas if applicable.
□   describes a generic framework for assessment, from specifying requirements, toward gathering the required information to sustain informed decision making for physical asset management. It also describes the observation process.
□   is an umbrella standard and refers to other standards for detailed methods.
The project is based on NS 3424:2012 (Standards Norway)

Leistungs- und Zustandsbewertung für Immobilien ¿ Bewertungsrahmen für Gebäude und Anlagentechnik

Dieses Dokument legt den Prozess der Leistungs  und Zustandsbewertung bestehender physischer Assets in der Nutzungsphase (von der Inbetriebnahme bis zum Ende der Lebensdauer) fest und gibt eine diesbezügliche Anleitung.
Dieses Dokument bezieht sich auf die Bewertung physischer Assets innerhalb des Gebäude  und Ingenieur¬bauwerk Sektors, kann jedoch gegebenenfalls auch in anderen Bereichen angewendet werden.
Dieses Dokument beschreibt einen allgemeinen Rahmen für die Bewertung, Festlegung von Anforderungen, den Beobachtungsprozess und das Sammeln der erforderlichen Informationen, um zu einer fundierten Entscheidungsfindung für das Asset Management beizutragen.
Dieses Dokument ist eine übergeordnete Norm und nimmt bezüglich detaillierter Verfahren weitere Normen in Bezug. Es ersetzt keine andere Norm, sondern dient als Ergänzung, um ein System für die Bewertungsarbeit bereitzustellen.
ANMERKUNG 1   Die Verweisungen auf andere Normen beziehen sich ausschließlich auf Gebäude und Ingenieur-bauwerke. Es gibt keine Verweisungen auf Produktionsmaschinen und  ausrüstungen, Offshore Bauwerke, elektrische und mechanische Assets, mobile Assets und immaterielle Assets.
ANMERKUNG 2   In diesem Dokument werden die physischen Assets als Assets bezeichnet, mit Ausnahme des Abschnitts Begriffe.

Évaluation de la performance et de l’état des bâtiments et des ouvrages de génie civil - Cadre de l’évaluation dans le cadre de la gestion d’actifs physiques

Le présent document spécifie et donne des recommandations relatives au processus d’évaluation de la performance et de l’état des actifs physiques existants durant la phase d’utilisation (de la mise en service à la fin de vie).
Le présent document porte sur l’évaluation des actifs physiques dans le secteur du bâtiment et du génie civil ; il peut néanmoins être utilisé dans d’autres secteurs, le cas échéant.
Le présent document décrit un cadre générique pour l’évaluation, la spécification des exigences, le processus d’observation et le rassemblement des informations requises afin d’appuyer une prise de décision éclairée par le gestionnaire de l’actif.
Le présent document est une norme générique qui renvoie à d’autres normes pour les méthodes détaillées. Il ne remplace aucune autre norme ; il vient au contraire en complément, pour offrir un système dédié au travail d’évaluation.
NOTE 1   Les références à d’autres normes ne concernent que les travaux de construction et de génie civil. Aucune référence n’est faite aux machines et équipements de production, aux actifs électriques et mécaniques en mer, aux actifs mobiliers et aux actifs immatériels.
NOTE 2   Dans le présent document, les actifs physiques sont appelés actifs, hormis dans l’article Termes et définitions.

Ocena učinkovitosti in uspešnosti ter stanja stavb in nizkih gradenj - Okvir za ocenjevanje pri obvladovanju fizičnega premoženja

General Information

• Status: Not Published
• Public Enquiry End Date: 31-May-2022
• ICS: 91.010.99 - Other aspects
• Technical Committee: VZD - Maintenance
• Current Stage: 4020 - Public enquire (PE) (Adopted Project)
• Start Date: 16-Mar-2022
• Due Date: 03-Aug-2022
• Completion Date: 01-Jun-2022
• Ref Project: prEN 17840 - Performance and condition assessment for buildings and civil engineering works - Framework for assessment within physical asset management

Standards Content (Sample)

SLOVENSKI STANDARD
oSIST prEN 17840:2022
01-maj-2022
Ocena učinkovitosti in uspešnosti ter stanja stavb in nizkih gradenj - Okvir za
ocenjevanje pri obvladovanju fizičnega premoženja
Performance and condition assessment for buildings and civil engineering works -
Framework for assessment within physical asset management
Leistungs- und Zustandsbewertung für Immobilien ¿ Bewertungsrahmen für Gebäude
und Anlagentechnik
Ta slovenski standard je istoveten z: prEN 17840
ICS:
91.010.99 Drugi vidiki Other aspects
oSIST prEN 17840:2022 en,fr,de

2003-01.Slovenski inštitut za standardizacijo. Razmnoževanje celote ali delov tega standarda ni dovoljeno.

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oSIST prEN 17840:2022
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oSIST prEN 17840:2022
DRAFT
EUROPEAN STANDARD
prEN 17840
NORME EUROPÉENNE
EUROPÄISCHE NORM
April 2022
ICS 91.010.99
English Version
Performance and condition assessment for buildings and
civil engineering works - Framework for assessment
within physical asset management
Leistungs- und Zustandsbewertung für Immobilien ¿
Bewertungsrahmen für Gebäude und Anlagentechnik

This draft European Standard is submitted to CEN members for enquiry. It has been drawn up by the Technical Committee

CEN/TC 319.

If this draft becomes a European Standard, CEN members are bound to comply with the CEN/CENELEC Internal Regulations

which stipulate the conditions for giving this European Standard the status of a national standard without any alteration.

This draft European Standard was established by CEN in three official versions (English, French, German). A version in any other

language made by translation under the responsibility of a CEN member into its own language and notified to the CEN-CENELEC

Management Centre has the same status as the official versions.

CEN members are the national standards bodies of Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia,

Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway,

Poland, Portugal, Republic of North Macedonia, Romania, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey and

United Kingdom.

Recipients of this draft are invited to submit, with their comments, notification of any relevant patent rights of which they are

aware and to provide supporting documentation.

Warning : This document is not a European Standard. It is distributed for review and comments. It is subject to change without

notice and shall not be referred to as a European Standard.
EUROPEAN COMMITTEE FOR STANDARDIZATION
COMITÉ EUROPÉEN DE NORMALISATION
EUROPÄISCHES KOMITEE FÜR NORMUNG
CEN-CENELEC Management Centre: Rue de la Science 23, B-1040 Brussels

© 2022 CEN All rights of exploitation in any form and by any means reserved Ref. No. prEN 17840:2022 E

worldwide for CEN national Members.
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Contents Page

European foreword ...................................................................................................................................................... 3

Introduction .................................................................................................................................................................... 4

1 Scope .................................................................................................................................................................... 5

2 Normative references .................................................................................................................................... 5

3 Terms and definitions ................................................................................................................................... 5

3.1 Asset management ......................................................................................................................................... 5

3.2 Assessment ........................................................................................................................................................ 7

3.3 Maintenance ..................................................................................................................................................... 8

3.4 Objectives and requirements ................................................................................................................... 10

3.5 Observation ..................................................................................................................................................... 12

4 Assessment – basic elements .................................................................................................................... 14

4.1 Introduction to assessment ....................................................................................................................... 14

4.2 Performance and condition ...................................................................................................................... 15

4.3 Compliance ...................................................................................................................................................... 17

5 Assessment process ..................................................................................................................................... 17

5.1 General.............................................................................................................................................................. 17

5.2 Assessment process steps .......................................................................................................................... 18

5.3 Identifying the requirements ................................................................................................................... 19

5.4 Defining the assessment strategy ........................................................................................................... 20

5.5 Gathering additional information........................................................................................................... 26

5.6 Assessment ...................................................................................................................................................... 27

5.7 Validation ........................................................................................................................................................ 29

6 The observation process ............................................................................................................................ 30

6.1 Introduction .................................................................................................................................................... 30

6.2 Planning ........................................................................................................................................................... 31

6.3 Observation ..................................................................................................................................................... 33

6.4 Quality ............................................................................................................................................................... 35

Annex A (informative) References ....................................................................................................................... 37

Annex B (informative) Inventory list plans and reports ............................................................................. 40

Bibliography ................................................................................................................................................................. 44

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European foreword

This document (prEN 17840:2022) has been prepared by Technical Committee CEN/TC 319

“Maintenance”, the secretariat of which is held by UNI.
This document is currently submitted to the CEN Enquiry.
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Introduction

There are various standards available about monitoring, inspection and assessment of physical assets.

All these standards have their own purpose and place in the field of assessment. This document for

performance and condition assessment is an umbrella standard for physical assets and refers to other

standards for detailed methods.

The scope of this document is buildings and civil engineering works. The intended audience for this

document is asset owners (small and large, public and private), asset managers, facility managers,

property managers, observers and consultants.
This document consists of two parts:
— The assessment process: The steps that are needed to perform an assessment;

— The observation process: The steps that are needed for acquiring and analysing the asset status data

to give recommendations as part of the assessment process.

In both cases, the purpose is to enhance the quality of the assessment and to provide information for the

asset owner/manager to support the decision making process.

The document assists asset and facility managers in selecting the appropriate technique and determining

the quality of the work that has been done.
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1 Scope

This document specifies and gives guidance on the performance and condition assessment process of

existing physical assets in the utilization stage (from commissioning to the end of life).

This document relates to assessment of physical assets within the building and civil engineering sector;

however, it can also be used in other sectors where applicable.

This document describes a generic framework for assessment, specification of requirements, the

observation process and gathering of the required information in order to sustain informed asset

management decision making.

This document is an umbrella standard and refers to other standards for detailed methods. It does not

replace any other standard, but is an addition to provide a system for the assessment work.

NOTE 1 The references to other standards only relate to building and civil engineering works. There are no

references for production machinery and equipment, offshore, electrical and mechanical assets, mobile assets and

non-tangible assets.

NOTE 2 In this document the physical assets will be referred to as assets, except in the clause Terms and

definitions.
2 Normative references
There are no normative references in this document.
3 Terms and definitions
For the purposes of this document, the following terms and definitions apply.

NOTE Several terms have multiple definitions in different standards, depending on the context. All definitions

in this document are fitted for performance and condition assessment.

ISO and IEC maintain terminological databases for use in standardization at the following addresses:

— IEC Electropedia: available at https://www.electropedia.org/
— ISO Online browsing platform: available at https://www.iso.org/obp
3.1 Asset management
3.1.1
asset management
coordinated activity of an organization to realize value from assets

Note 1 to entry: Value can be tangible or intangible, financial or non-financial, and includes consideration

of risks and liabilities. It can be positive or negative at different stages of the asset life.

Note 2 to entry: Physical assets usually refer to facilities, civil engineering works, street furniture, technical

installations, equipment, inventory and properties owned by the organization. Physical assets are the opposite of

intangible assets, which are non-physical assets such as leases, brands, digital assets, use rights, licenses, intellectual

property rights, reputation or agreements.

Note 3 to entry: A grouping of assets referred to as an asset system could also be considered as an asset.

[SOURCE: ISO 55000:2014, 3.3.1, modified - Note 2 examples of physical assets have been added]

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3.1.2
asset portfolio
assets that are within the scope of the asset management system

Note 1 to entry: A portfolio is typically established and assigned for managerial control purposes. Portfolios for

physical hardware might be defined by category (e.g. properties, civil infrastructure, road network, plant,

equipment, tools, land). Software portfolios might be defined by software publisher, or by platform (e.g. PC, server,

mainframe).

Note 2 to entry: An asset management system can encompass multiple asset portfolios. Where multiple asset

portfolios and asset management systems are employed, asset management activities should be coordinated

between the portfolios and systems.

[SOURCE: ISO 55000:2014, 3.2.4, modified - NOTE 1 examples of physical asset portfolios have been

added]
3.1.3
asset system
set of assets that interact or are interrelated

Note 1 to entry: A sewage system, tunnel, building, bridge, network of motorways are typical examples of asset

systems.
[SOURCE: ISO 55000:2014, 3.2.5, modified – Note 1 to entry has been added]
3.1.4
asset type

grouping of assets having common characteristics that distinguish those assets as a group or class

EXAMPLE Physical assets, information assets, intangible assets, critical assets, enabling assets, linear assets,

information and communications technology (ICT) assets, infrastructure assets, moveable assets.

[SOURCE: ISO 55000:2014, 3.2.6]
3.1.5
asset
item, thing or entity that has potential or actual value to an organization
Note 1 to entry: In this document the term ‘asset’ means physical asset (3.1.8).

Note 2 to entry: Value can be tangible or intangible, financial or non-financial, and includes consideration

of risks and liabilities. It can be positive or negative at different stages of the asset life.

Note 3 to entry: Physical assets usually refer to equipment, inventory and properties owned by the organization.

Physical assets are the opposite of intangible assets, which are non-physical assets such as leases, brands, digital

assets, use rights, licences, intellectual property rights, reputation or agreements.

Note 4 to entry: A grouping of assets referred to as an asset system (3.1.3) could also be considered as an asset.

[SOURCE: ISO 55000:2014, 3.2.1, modified – Note 1 to entry has been added]
3.1.6
interoperability

ability of systems to provide services to and accept services from other systems and to use these services

to enable them to operate effectively together

[SOURCE: ISO 37153:2017, 3.8, modified – Notes 1 and 2 to entry have been deleted]

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3.1.7
item

part, component, device, subsystem, functional unit, equipment or system that can be individually

described and considered

Note 1 to entry: A number of items e.g. a population of items, or a sample, may itself be considered as an item.

Note 2 to entry: An item may consist of hardware, software or both.

Note 3 to entry: Software consists of programs, procedures, rules, documentation and data of an information

processing system.
[SOURCE: EN 13306:2017, 3.1]
3.1.8
physical asset
item that has potential or actual value to an organization

Note 1 to entry: Examples of physical assets are components, machines, plants, construction works, buildings.

[SOURCE: EN 13306:2017, 3.2]
3.1.9
physical asset management
coordinated activities of an organization to realize value from physical assets

Note 1 to entry: Realization of value will normally involve a balancing of costs, risks, opportunities and benefits.

Note 2 to entry: In the life cycle context, physical asset management is the optimal life cycle management of

physical assets to sustainably achieve the stated business objectives.
[SOURCE: EN 16646:2015]
3.2 Assessment
3.2.1
assessment

systematic process of collecting and analysing data to determine the status of a product, a process, a

system, a person or an organization
[SOURCE: ISO 10795:2019, 3.24]
3.2.2
assessment strategy

outline plan that includes a coordinated set of activities and the allocation of resources necessary to

perform the assessment
[SOURCE: ISO 56000:2020]
3.2.3
condition

physical state of an asset or item at a particular time compared to state at the time of commissioning

[SOURCE: CEN/TS 17385:2019, 3.4]
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3.2.4
condition assessment

objective method for determining the physical condition of a constructed asset or a part of it

[SOURCE: CEN/TS 17385:2019, 3.4, modified – Note 1 to entry has been deleted.]
3.2.5
function
intended effect of a system, subsystem, product or part
[SOURCE: ISO 21351:2005, 3.1.5, modified – Notes to entry have been deleted.]
3.2.6
performance

ability to fulfil required functions under intended use conditions or behaviour when in use

Note 1 to entry: Derived from the definition of performance in ISO 6707-1.

Note 2 to entry: The required functions address both the functionality requirements as well as the technical

requirements.

EXAMPLES Traffic handling, flood protection, conservation of nature, to provide shelter, to provide security, to

provide a healthy environment, group accommodation, to provide residence or work environment, lifting.

[SOURCE: ISO/TS 21929-2:2015, 3.28, modified – Examples have been added]
3.2.7
performance assessment

objective method for determining the performance of a constructed asset or a part of it

3.3 Maintenance
3.3.1
condition based maintenance

preventive maintenance which include a combination of condition monitoring and/or inspection and/or

testing, analysis and the ensuing maintenance actions

Note 1 to entry: The condition monitoring and/or inspection and/or testing may be scheduled, on request or

continuous.
[SOURCE: EN 13306:2017, 7.3]
3.3.2
corrective maintenance

maintenance carried out after fault recognition and intended to restore an item into a state in which it

can perform a required function
[SOURCE: EN 13306:2017, 7.9]
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3.3.3
improvement

combination of all technical, administrative and managerial actions, intended to ameliorate the reliability

and/or the maintainability and/or the safety of an item, without changing the original function

Note 1 to entry: An improvement may also be introduced to prevent misuse in operation and to avoid failures.

Note 2 to entry: Improvement may also encompass aesthetics, comfort, health, environment, etc.

[SOURCE: EN 13306:2017, 7.6, modified – added Note 2 to entry.]
3.3.4
modernization

modification or improvement of the item, taking into account technological advances, to meet new or

changed requirements
[SOURCE: EN 13306:2017, 7.8]
3.3.5
modification

combination of all technical, administrative and managerial actions intended to change one or more

functions of an item

Note 1 to entry: Modification is not a maintenance action, but has to do with changing the required function of an

item to a new required function. The changes may have an influence on the dependability characteristics.

Note 2 to entry: Modification may involve the maintenance organization.

Note 3 to entry: The change of an item where a different version is replacing the original item without changing the

function or ameliorating the dependability of the item is called a replacement and is not a modification.

[SOURCE: EN 13306:2017, 7.7]
3.3.6
operational mode

configuration in which an item is operated and utilized during a given period characterized by units of

use (hours, loads, number of starts/stops, number of transients, etc.)

Note 1 to entry: Operational mode determines the frequency, load, continuity and performance rate of utilization.

Note 2 to entry: Operational mode may, or may not, comply with the inherent item specifications as defined.

[SOURCE: EN 13306:2017, 4.20]
3.3.7
operating constraints

characteristics of the item, which set limits for the use of the item and may determine requirements for

maintenance activities

Note 1 to entry: These characteristics are the results of design and construction of the item.

[SOURCE: EN 13306:2017, 4.21]
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3.3.8
operating conditions

physical loads and environmental conditions experienced by the item during a given period

Note 1 to entry: Operating conditions can vary during the item’s life cycle.
[SOURCE: EN 13306:2017, 4.22]
3.3.9
performance based maintenance

preventive maintenance based on the performance of an asset which include a combination of

performance monitoring and/or inspection and/or testing, analysis and the ensuing maintenance actions

3.3.10
predetermined maintenance

preventive maintenance carried out in accordance with established intervals of time or number of units

of use but without previous condition investigation

Note 1 to entry: Intervals of times or number of unit of use may be established from knowledge of the failure

mechanisms of the item.
[SOURCE: EN 13306:2017, 7.2]
3.3.11
preventive maintenance

maintenance carried out intended to assess and/or to mitigate degradation and reduce the probability of

failure of an item

Note 1 to entry: Preventive maintenance is based on the output of an assessment, or predetermined.

[SOURCE: EN 13306:2017, 7.1, modified – NOTE 1 is extended with predetermined maintenance ]

3.3.12
service life
duration throughout which an asset is used economically
3.3.13
utilization stage

life cycle phase at which safe exploitation for the intended use (or uses) of a physical asset is possible,

within specified as-built properties
Note 1 to entry: Derived from ISO 2394: revised.

Note 2 to entry: Stage may include: Exploitation, operation, modernization, renovation, maintenance and other

utilization support.
3.4 Objectives and requirements
3.4.1
condition requirements
specification of a required physical state of an asset or item
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3.4.2
compliance
meeting all the organization’s compliance obligations

Note 1 to entry: Compliance is made sustained by embedding it in the culture of an organization and in the

behaviour and attitude of people working for it.
[SOURCE: ISO 37301:2021]
3.4.3
compliance commitment
requirement that an organization chooses to comply with
[SOURCE: ISO 37301:2021]
3.4.4
compliance requirement
requirement that an organization has to comply with
[SOURCE: ISO 37301:2021]
3.4.5
legislation
directives, acts, ordinances, and regulations
[SOURCE: ISO 14385-1:2014, 3.10]
3.4.6
nonconformity
non-fulfilment of a requirement
[SOURCE: ISO 37301:2021]
3.4.7
non-compliance
on-fulfilment of a compliance obligation
[SOURCE: ISO 37301:2021]
3.4.8
objective
result to be achieved
Note 1 to entry: An objective can be strategic, tactical or operational.

Note 2 to entry: Objectives can relate to different disciplines (such as financial, health and safety, and

environmental goals) and can apply at different levels (such as strategic, organization-wide, project, product and

process).

Note 3 to entry: An objective can be expressed in other ways, e.g. as an intended outcome, a purpose, an operational

criterion, a physical asset objective or by the use of other words with similar meaning (e.g. aim, goal, or target).

Note 4 to entry: In the context of asset management systems, physical asset objectives are set by the organization,

consistent with the organizational objectives and asset management policy, to achieve specific measurable results.

[SOURCE: ISO 55000:2014, 3.1.12]
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3.4.9
performance requirements
performance demanded or expected to be fulfilled
[SOURCE: ISO 6707- 1:2020, 3.7.1.12]
3.4.10
requirement
need or expectation that is stated, generally implied or obligatory

Note 1 to entry: “Generally implied” means that it is custom or common practice for the organization and

stakeholders that the need or expectation under consideration is implied.

Note 2 to entry: A specified requirement is one that is stated, for example in documented information

[SOURCE: ISO 55000:2014, 3.1.20]
3.4.11
validation

confirmation, through the provision of objective evidence, that the requirements or objectives for a

specific intended use or application have been fulfilled

[SOURCE: ISO 9000:2015, 3.8.13, modified – The term “objectives” has been added to the definition]

3.4.12
verification

confirmation, through the provision of objective evidence, that specified requirements have been fulfilled

Note 1 to entry: The objective evidence needed for a verification can be the result of an inspection or of other forms

of determination such as performing alternative calculations or reviewing documents.

Note 2 to entry: The activities carried out for verification are sometimes called a qualification process.

Note 3 to entry: The word “verified” is used to designate the corresponding status

[SOURCE: ISO 9000:2015, 3.8.12]
3.5 Observation
3.5.1
detection

act of perceiving and interpreting findings of the examined asset by a qualified observer

Note 1 to entry: Detection can include gaining apprehension of properties through sensing, measuring, sampling,

surveying, inspecting, testing or otherwise examining an object or subject.
3.5.2
measurement
process to determine a value

Note 1 to entry: In the context of performance and condition assessment, the value is related to performance and

condition measurements.
[SOURCE: ISO 55000:2014, 3.1.10, modified – Note 1 to entry has been added]
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3.5.3
observation

quantitative or qualitative determination as a result of a detection and valuing process for properties,

features or aspects under consideration
3.5.4
observation category
group of various observation types with similar desired output
3.5.5
observation technique
technique that is used to execute the observation
3.5.6
observation method
procedure to perform the observation
3.5.7
observer
person who performs the observation

EXAMPLES Inspector, surveyor, property inspector, construction observer, building inspector.

3.5.8
quality
totality of requirements that bear on the ability to satisfy specific needs

[SOURCE: ISO 6707-1:2020, 3.7.1.10, modified – The term ‘characteristics’ has been replaced by

‘requirements’.]
3.5.9
sample

amount of the material, product, or assembly, to be tested, which is representative of the item as a whole

Note 1 to entry: Compare with the term specimen.
[SOURCE: ISO 13943:2017, 3.334]
3.5.10
samples - gathering
selecting items, or portions of material, to produce samples
[SOURCE: ISO 6707-1:2017]
3.5.11
sampling – interpreting

procedure of collecting physical samples, testing, analysing them to determine a state or detect a

substance, resulting in a representative value for the sample population
3.5.12
setting a value or rank
act of attaching importance to findings

Note 1 to entry: The process can include scoring, grading, rating, ranking, weighing, classifying or valuing aspects

through verification of explicit requirements or implicit demands.
Note 2 to entry: Aspects can be classified by defining impact categories.
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4 Assessment – basic elements
4.1 Introduction to assessment
4.1.1 General

An assessment is a recurring evaluation of the condition and performance of assets, asset systems and

the asset portfolio to enhance life cycle delivery to the asset management objectives and requirements.

It also enables the asset/facility manager to determine the contribution of the single assets to the

performance of the asset systems and the asset portfolio. This information is used as input for the long-

term programming within physical asset management.

The assessment of assets can be used as input to the assessment of an asset system and/or the asset

portfolio. Similarly, an assessment of the asset portfolio can be used as input to the assessment of an asset

system and/or asset. This is shown in Figure 1. The same principle applies to the asset management

objectives and requirements; in a dynamic process, the requirements are used as input to the

assessments and the assessment results inform the requirements.
Figure 1 — Assessments
4.1.2 Asset portfolio

The asset portfolio consists of all the assets that are within the scope of the managing organization. The

asset portfolio can contain both single assets and asset systems.

Assessment within asset portfolio management delivers information for three main applications:

— effective asset portfolio decision making;
— risk and control process;
— improvement of assessment and observation strategies for the asset portfolio.
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The resulting dec
...