ASTM E2279-20
Standard Practice for Establishing the Guiding Principles of Property Asset Management

Standard No.

ASTM E2279-20

Release Date

2020

Published By

American Society for Testing and Materials (ASTM)

Latest

ASTM E2279-20

Scope

1.1 This practice covers the creation of a set of guiding principles that, when adopted, is endorsed by top management to be applied to the practice of property management. These principles will enunciate the objectives and intent of the property (also known as “asset”) management community, stress simplified procedures, promote less rather than more, judgment rather than “by-the-book” decisions, and encourage the adoption of “best practices.” 1.2 The acceptance of these guiding principles provides the high potential of improved internal controls and governance. It promotes a problem-solving mentality and culture within the property management community, encourages the use of innovative and cost-effective practices, creates greater commonality between government and industry practices, and increases the ability of organizations to respond to changing needs and business conditions. 1.3 This practice adopts the concept that the potential benefits of operating in a manner consistent with a set of standards and guidelines outweigh concerns about the loss of predictability, uniformity, and consistency. 1.4 This practice provides property management standards and guidance that may be used for various types of property including tangible, intangible, personal, and real. 1.5 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use. 1.6 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

ASTM E2279-20 Referenced Document

• ASTM E2131 Standard Practice for Addressing and Reporting Losses of Tangible Property*， 2022-08-01 Update
• ASTM E2132 Standard Practice for Inventory Verification: Electronic and Physical Inventory of Assets
• ASTM E2135 Standard Terminology for Property and Asset Management*， 2022-06-01 Update
• ASTM E2306 Standard Guide for Disposal of Personal Property Assets
• ASTM E2378 Standard Practice for the Recognition of Impaired or Retired Property Assets
• ASTM E2452 Standard Practice for Equipment Management Process Maturity (EMPM) Model
• ASTM E2453 Standard Practice for Estimating the Life-Cycle Cost of Ownership of Property Assets
• ASTM E2607 Standard Practice for Cannibalization/Reclamation of Serviceable Equipment Components to Support Demand Requirements*， 2024-04-22 Update
• ASTM E2608 Standard Practice for Equipment Control Matrix (ECM)
• ASTM E2811 Standard Practice for Management of Low Risk Property (LRP)
• ASTM E2936 Standard Guide for Contractor Self-Assessment for U.S. Government Asset Management Systems
• ASTM E3015 Standard Guide for Management of Customer-Owned Property Assets in Possession of Supplier, Contractor or Subcontractor
• ISO 55000 Asset management - Overview, principles and terminology
• ISO 55001 Asset management - Management systems - Requirements
• ISO 55002 Asset management — Management systems — Guidelines for the application of ISO 55001

ASTM E2279-20 history

• 2020 ASTM E2279-20 Standard Practice for Establishing the Guiding Principles of Property Asset Management
• 2015 ASTM E2279-15 Standard Practice for Establishing the Guiding Principles of Property Asset Management
• 2009 ASTM E2279-09 Standard Practice for Establishing the Guiding Principles of Property Management
• 2003 ASTM E2279-03 Standard Practice for Establishing the Guiding Principles of Property Management