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– E2675-09, Standard Practice for

Property Management Systems Outcomes

– E2604-09, Standard Practice for Data Characteristics of Equipment Records

– E2812-11, 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 SystemEssential Elements (so sayeth ASTM)

• Identification Number• Description• Receipt Date• Unit Acquisition Cost• Location

Data Elements in the SystemOptional Data Elements (so sayeth

ASTM)

• Model Number• Physical Inventory Date• Owner• Maintenance• Manufacture Date

Data Elements in the SystemOptional 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, CPPMgarycquinn@icloud.com