Necessary and Desired Attribute Fields for a Good Asset System Gary Quinn, CPPM

Class Objective: Collectively discuss various fields that a good asset system should have This is not a presentation or a lecture as there will be as many good ideas as there are people in the room

ASTM Standards – E , Standard Practice for Property Management Systems Outcomes – E , Standard Practice for Data Characteristics of Equipment Records – E , Standard Practice for Uniform Data Management in Asset Management Records Systems Don’t re-invent the wheel

System Outcomes: (Process Management) Mission Support Accounting and Accountability Information Management Planning Relationships

System Outcomes: (Operational Outcomes) Property Functionality Resource Optimization Property Visibility Safety and Security Installation, Movement and Storage

Data Elements in the System Essential Elements (so sayeth ASTM) Identification Number Description Receipt Date Unit Acquisition Cost Location

Data Elements in the System Optional Data Elements (so sayeth ASTM) Model Number Physical Inventory Date Owner Maintenance Manufacture Date

Data Elements in the System Optional Data Elements (so sayeth ASTM) (Continued) Part Number Serial Number User Additional Identification

How do you feel about that? Have enough essential data fields? Have enough data fields to be able to conduct your day to day business? Think you could pass an audit with those fields of data?

From a couple of Property Managers that have been through a few audits, designed the fields necessary for a good system, and argued that this ASTM standard was exceptionally lacking: “You would never pass an audit on any level with only those fields” So, what fields do you need for your system?

A different way to look at it: Data fields that identify the asset Data fields that identify ownership Data fields that identify financial status Data fields that identify use Data fields that identify disposal

What data fields do we need to identify the asset? Description Serial number Manufacturer and model Classification Inventory tag number and asset ID if different

What data fields do we need to identify ownership of the asset? Department/Section, etc. (who is responsible) Who has financial interest Location Custodian Grantor (if applicable) and any disposal requirements

What data fields do we need to identify the financial status of the asset? Purchase price and in service date Receipt date (and supporting documents) Voucher and payment information Useful Life Depreciation method and residual value/% Owners claiming a financial interest (in case of split ownership)

What data fields do we need to identify the use of the asset? Inventory date Owner and location Status (Received, work in progress, in service, impaired, surplus, disposed) Condition Maintenance Status

What data fields do we need to identify the disposal of the asset? Date of Disposal Method of Disposal Recipient (including transfer of title if applicable) Proceeds and Gain or Loss on Sale Item and/or lot number if auctioned

Gary Quinn, CPPM