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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
The remedial actions performed as a result of failure, to restore an item to a specified condition. Corrective maintenance mayor may not be programmed. IIMM
Corrective maintenance is maintenance carried out after a failure has occurred, and intended to restore an item to a state in which it can perform its required function. (This may include breakdown maintenance or reactive maintenance) LGAM
The maintenance carried out after a failure has occurred, and intended to restore an item to a state in which it can perform its required function. (This may include breakdown or reactive maintenance.) DERM
All actions necessary for retaining an asset as near as practicable to its original condition, but excluding rehabilitation or renewal. Fixed interval maintenance is used to express the maximum interval between maintenance tasks. On-condition maintenance is where the maintenance action depends upon the item reaching some predetermined condition.
IIMM
Maintenance is any activity performed on an asset with a view to ensuring that it is able to deliver an expected level of service until it is scheduled to be renewed, replaced or disposed of.
LGAM
The combination of all technical and associated administrative actions intended to retain an item in, or restore it to, a state in which it can perform its required function.
DERM