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Generally applies to above-ground assets (e.g. reservoir, pump station). DERM
A physical component of a facility which has value,enables services to be provided and has an economic life of greater than 12 months. Dynamic assets have some moving parts, while passive assets have none. IIMM
An asset is an object (physical or intangible) that has an identifiable value and a useful life greater than 12 months, that is or could be used by the entity responsible for it to provide a service. LGAM
Asset - An item with an independent physical and functional identity and age, within a facility (e.g. pump, motor, sedimentation tank, main). Asset - Service potential or future economic benefits controlled by entity as a result of past transactions or other past events. DERM
Specific parts of an asset having independent physical or functional identity and having specific attributes such as different life expectancy, maintenance regimes, risk or criticality. IIMM
An item with an independent physical and functional identity within an asset (e.g. impeller, hydrant). DERM
A projection of future demand for the use of an asset. Demand forecasts are usually wrong to a greater or lesser extent.
A complex comprising many assets (e.g. a hospital, water treatment plant, recreation complex, etc.) which represents a single management unit for financial, operational, maintenance or other purposes.
IIMM
A facility is a group of assets located within a designated area that are associated in some way.
LGAM
Facility - A group of assets that provides a function or service (e.g. pump station, reservoir, treatment plant, reticulation system). Facility - A complex of assets (e.g. a hospital, water treatment plant, sporting complex) that represents a single management unit for financial, operational, maintenance or other purposes.
DERM