An asset class is a grouping of assets of a similar nature and use. LGAM

An Asset Condition Inspection is an inspection carried out on an asset to determine its condition.

Types of inspections:

There are two main types of asset condition inspections.

• Defect / hazard inspections designed to determine the need for maintenance and/or temporary works.
• More detailed overall asset condition inspections designed to assess the overall condition of an asset and determine its remaining useful life.

Defect / hazard inspections are typically carried out on a more frequent basis than overall asset condition inspections, but in both cases the inspection frequency may depend on the classification of the asset within a hierarchy. LGAM