An Asset represents material property that may be purchased, stored, moved, installed, or otherwise used, repaired or disposed.
In the context of IMMS, it is important to distinguish between an Asset and a System Element.
System Elements represent the functional decomposition of the System, typically reflected in the System design (e.g., single-line drawings, logical diagrams), and each System Element has a specific function and Location.
Assets are the physical components that are installed against (i.e., associated with) the System Element. An Asset typically has a make, model, and serial number.
The following chart illustrates some differences between the characteristics of System Elements and Assets:
| Characteristic | System Element | Asset |
|---|---|---|
Has installation location | Yes, optional | Optional, Inherited from the associated System Element. |
Has operational status (Up, Down, etc), may be monitored | Yes | No |
May be controlled | Yes | No |
May be subject of a Preventive Maintenance | Yes | No |
Has manufacturer, model | Defined by installed Asset | Yes |
Has purchase date and other procurement information | No | Yes |
Has warranty | No | Yes |
Replaced when physical hardware fails | No | Yes |