Asset Information Handover Guidelines from Planning and Construction to Operations and Maintenance (2024)
Chapter: Appendix B: Terms and Abbreviations
APPENDIX B
Terms and Abbreviations
This appendix represents a list of terms, abbreviations, acronyms, or initialisms mentioned in this guide.
ADA: Americans with Disabilities Act
Asset: Item, thing, or entity that has potential or actual value to an organization.
Notes:
- 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.
- 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, licenses, intellectual property rights, reputation, or agreements.
- A grouping of assets referred to as an asset system could also be considered as an asset.
SOURCE: ISO 55000:2014
Asset life: The period from asset creation to asset end-of-life.
SOURCE: ISO 55000:2014
Asset management: Coordinated activity of an organization to realize value from assets.
Notes:
- Realization of value will normally involve a balancing of costs, risks, opportunities, and performance benefits.
- Activity can also refer to the application of the elements of the asset management system.
- The term “activity” has a broad meaning and can include, for example, the approach, the planning, the plans and their implementation.
SOURCE: ISO 55000:2014
Asset management information: Meaningful data relating to assets and asset management.
Note: Examples of asset management information include asset registers, drawings, contracts, licenses, legal, regulatory/statutory documents, policies, standards, guidance notes, technical instructions, procedures, operating criteria, asset performance and condition data, or all asset management records.
Asset management plan: Documented information that specifies the activities, resources and timescales required for an individual asset, or a grouping of assets, to achieve the organization’s asset management objectives.
Notes:
- The grouping of assets may be by asset type, asset class, asset system or asset portfolio.
- An asset management plan is derived from the strategic asset management plan.
- An asset management plan may be contained in, or may be a subsidiary plan of, the strategic asset management plan.
SOURCE: ISO 55000:2014
Asset management policy: Principles and mandated requirements derived from, and consistent with, the organizational strategic plan, providing a framework for the development and implementation of the asset management strategy and the setting of the asset management objectives.
Asset management strategy/strategic asset management plan (SAMP): Documented information that specifies how organizational objectives are to be converted into asset management objectives, the approach for developing asset management plans, and the role of the asset management system in supporting achievement of the asset management objectives.
Notes:
- A strategic asset management plan is derived from the organizational plan.
- A strategic asset management plan may be contained in, or may be a subsidiary plan of, the organizational plan.
SOURCE: ISO 55000:2014
Asset management system: Management system for asset management whose function is to establish the asset management policy and asset management objectives.
Note: The asset management system is a subset of asset management.
SOURCE: ISO 55000:2014
Asset portfolio: Assets that are within the scope of the asset management system.
Notes:
- A portfolio is typically established and assigned for managerial control purposes. Portfolios for physical hardware might be defined by category (e.g., plant, equipment, tools, land). Software portfolios might be defined by software publisher, or by platform (e.g., PC, server, mainframe).
- 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
Asset system: Set of assets that interact or are interrelated.
SOURCE: ISO 55000:2014
Building information modeling (BIM): A digital representation of physical and functional characteristics of a facility. As such it serves as a shared knowledge resource for information about a facility forming a reliable basis for decisions during its life cycle from inception onward. A basic premise of BIM is collaboration by different stakeholders at different phases of the life cycle of a facility to insert, extract, update or modify information in the BIM process to support and reflect the roles of that stakeholder. The BIM is a shared digital representation founded on open standards for interoperability. BIM is a data-rich, object-oriented, intelligent and parametric digital representation of the facility, from which views and data appropriate to various users’ needs can be extracted.
SOURCE: National Building Information Modeling Standard
Construction Operations Building Information Exchange (COBie): A U.S. national specification of facility handover requirements based on original research by the U.S. Army Corps of Engineers that describes the information required for facility operations and maintenance upon completion of a building project relating to the commissioning and handover of building systems and equipment.
SOURCE: https://www.nibs.org/news/national-institute-building-sciences-announces-upcoming-release-cobie-v30
Construction Specifications Institute (CSI) MasterFormat: The architecture, engineering, and construction (AEC) industry’s standard for organizing and communicating specifications
and work results for construction projects. MasterFormat unifies a project under a common standard—connecting designs, building products, pre-construction activities, estimates, and contracts, and construction throughout all phases of a construction project. MasterFormat numbers and titles provide the basis for organizing construction documents.
SOURCE: https://www.csiresources.org/standards/masterformat
CSI OmniClass: A comprehensive classification system for the construction industry, encompassing key elements of both MasterFormat and UniFormat for building life cycle and project management. OmniClass has numerous applications and is primarily used for facilities management, and to provide a classification structure for databases, software, and BIM. OmniClass incorporates components of MasterFormat for Table 22—Work Results and UniFormat for Table 21—Elements.
SOURCE: https://www.csiresources.org/standards/omniclass
CSI UniFormat: A classification system for building elements, systems, and assemblies, providing a framework for design and management across a building’s life cycle. This system can be implemented during the early design phases to classify building systems and estimate project scope and includes components such as foundations, exterior walls, interior walls, roof systems, mechanical and electrical systems and sitework. The classification supports project design, pre-construction, and facilities management, and standardizes cost analysis and documentation.
SOURCE: https://www.csiresources.org/standards/uniformat
FAA: Federal Aviation Administration
FAR: Federal Acquisition Regulations
Functional policy: Specified approach, rules and boundaries set out by an organization that provide direction and the framework for the control of specific asset-related processes and activities.
Note: Functional policies, strategies and objectives relate to asset management activities or processes, such as capital investment, construction methods, maintenance and purchasing. These should not be confused with asset management policies, asset management strategy and asset management objectives, which are cross-functional, considering the life-cycle optimization of all relevant activities.
HVAC: Heating, ventilating, and air conditioning
Life cycle: Stages involved in the management of an asset.
Note: The naming and number of the stages and the activities under each stage usually vary in different industry sectors and are determined by the organization.
SOURCE: ISO 55000:2014
O&M: Operations and maintenance
Objective: Result to be achieved.
Notes:
- An objective can be strategic, tactical, or operational.
- 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).
- An objective can be expressed in other ways, e.g., as an intended outcome, a purpose, an operational criterion, an asset management objective or by the use of other words with similar meaning (e.g., aim, goal, or target).
- In the context of asset management systems, asset management objectives are set by the organization, consistent with the organizational objectives and asset management policy, to achieve specific measurable results.
SOURCE: ISO 55000:2014
OEM: Original equipment manufacturer: A company whose goods are used as components in the products of another company, which then sells the finished item to users.
SOURCE: https://www.investopedia.com/terms/o/oem.asp
ORAT: Operational Readiness, Activation, and Transition/Operational Readiness and Airport Transfer is a methodology to manage the transfer of a new or substantially upgraded facility, project, or service from its construction stage to the active live operations.
QR code: A machine-readable “quick response” code.
