Critical assets
Asset Management – an anatomy, Version 4, published by The Institute of Asset Management in July 2024, defines a critical asset as an: ‘asset having potential to significantly impact on the achievement of the organization’s objectives Notes: (1) Assets can be safety-critical, environment-critical or performance-critical and can relate to legal, regulatory or statutory requirements. (2) Critical assets can refer to those assets necessary to provide services to critical customers. (3) Asset systems can be distinguished as being critical in a similar manner to individual assets.’
PAS 55-1:2008, Asset Management: Part 1: Specification for the optimized management of physical assets, written by the Institute of Asset Management, and published by BSi in September 2008, defines critical assets or critical asset systems as: ‘assets and/or asset systems that are identified as having the greatest potential to impact on the achievement of the organizational strategic plan NOTE The assets can be safety-critical, environment-critical and/or performance-critical, and can relate to legal, regulatory and/or statutory requirements.’
[edit] Related articles on Designing Buildings
- Asset.
- Asset information model.
- Asset management.
- Asset management strategy.
- Asset management team.
- Creating an asset register for construction projects.
- Digital asset management.
- Economic Order Quantity EOQ.
- Enterprise asset management.
- Facilities management.
- Facilities management audit FMA.
- Facility condition assessment FCA.
- Facility condition index FCI.
- Knowledge asset management.
- Property management.
Featured articles and news
Tackle the decline in Welsh electrical apprenticeships
ECA calls on political parties 100 days to the Senedd elections.
Resident engagement as the key to successful retrofits
Retrofit is about people, not just buildings, from early starts to beyond handover.
What they are, how they work and why they are popular in many countries.
Plastic, recycling and its symbol
Student competition winning, M.C.Esher inspired Möbius strip design symbolising continuity within a finite entity.
Do you take the lead in a circular construction economy?
Help us develop and expand this wiki as a resource for academia and industry alike.
Warm Homes Plan Workforce Taskforce
Risks of undermining UK’s energy transition due to lack of electrotechnical industry representation, says ECA.
Cost Optimal Domestic Electrification CODE
Modelling retrofits only on costs that directly impact the consumer: upfront cost of equipment, energy costs and maintenance costs.
The Warm Homes Plan details released
What's new and what is not, with industry reactions.
Could AI and VR cause an increase the value of heritage?
The Orange book: 2026 Amendment 4 to BS 7671:2018
ECA welcomes IET and BSI content sign off.
How neural technologies could transform the design future
Enhancing legacy parametric engines, offering novel ways to explore solutions and generate geometry.
Key AI related terms to be aware of
With explanations from the UK government and other bodies.
From QS to further education teacher
Applying real world skills with the next generation.
A guide on how children can use LEGO to mirror real engineering processes.
Data infrastructure for next-generation materials science
Research Data Express to automate data processing and create AI-ready datasets for materials research.
Wired for the Future with ECA; powering skills and progress
ECA South Wales Business Day 2025, a day to remember.
AI for the conservation professional
A level of sophistication previously reserved for science fiction.