This glossary is generated automatically. It displays the first paragraph of every page with the tags "definitions" & "am". If you believe you have a better definition than the one given, please click on the link and edit the page it points to. If you would like to add a new term to the glossary create the page and add the tags "definitions" & "am" to it. Acronyms are listed separately.
Active Asset - "Active Asset" is a term that is sometimes used by some valuers (and others) to describe above-ground networks assets (e.g. reservoir, pump station).
Advanced Asset Management - Advanced Asset Management is Asset Management which employs predictive modelling, risk management and optimised decision making techniques to establish asset lifecycle treatment options and related long term cashflow predictions.
Annual Depreciation Charge - [[include annual-depreciation]]
Asset - 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.
Asset Condition Assessment - An Asset Condition Assessment is the process of continuous or periodic inspection, assessment, measurement and interpretation of the resultant data to indicate the condition of a specific asset so as to determine the need for some preventative or remedial action. It is a crucial part of asset management to determine remaining useful life and an assets capability to meet performance requirements.
Asset Condition Assessment Guide - An Asset Condition Assessment Guide is a document that helps a person conducting an Asset Condition Inspection to assign a consistent condition score to the asset being inspected.
Asset Hierarchy - An asset hierarchy is a framework for segmenting an asset base into appropriate classifications. The asset hierarchy can be based on asset function; asset type or a combination of the two.
Asset Maintenance Management System - An Asset Maintenance Management System (AMMS) is a system designed to program & record an organisation's maintenance activities. The term Computerised Maintenance Management System (CMMS) is often used to describe the same type of software.
External Links & References
- Queensland Department of Local Government, Sport & Recreation Glossary of Terms
- Wingecarribee Shire Asset Management Terminology
- Institute of Asset Management Definitions Page
- City of Joondalup Works Category Definitions
- Asset Management Series Glossary
- South Australian Road Traffic Act Definitions
- Wealth of Opportunities Glossary
- Google Search