Streamline Your Asset Management

January 5, 2016

A new standard has been created to help FMs and other building professionals identify and classify systems, components, sub-components, and their associated attributes to make better management decisions about their assets. The new rule, E3035, Classification for Facility Asset Component Tracking System (FACTS), will affect smart buildings, facility asset management processes, building information modeling (BIM), and project controls systems.

Implementation of the standard, which was developed by ASTM International, will help optimize asset tracking and management in facilities, giving professionals a more comprehensive look at component and system functionality and usage. With more information available, total cost of ownership for facilities can be reduced as more informed operations and maintenance decisions are made.

“The new standard drills deep enough to align the product, building system, attributes, and lifecycle to meet the varying needs of new technologies,” says William H. Hunt, ASTM member and chief estimator, Office of Project Delivery, Public Buildings Service for the GSA.