Type Asset types are groups of settings that define the characteristics of your organization’s assets. For example, you might create asset types called “pumps” or “piping and valves.” The asset type contains basic information, policies, and permissions, such as whether or not standard jobs can be created for assets of the type. When you create an asset in APM, you must specify an asset type, which then determines the information and functionality available for the asset. See Also Classification When you select an asset type, APM enters the asset classification automatically. You might be able to change the classification for the asset, depending on the asset type that was selected. Selecting the correct classification is important because it affects how APM treats the asset. APM comes with seven classifications of assets: • Maintainable assets can be worked on. Users can enter work requests and work orders for them, and costs can be charged to them. • System assets groups assets that represent a system, such as a gas treatment system. These assets are treated in the same manner as maintainable assets in that users can enter work requests and work orders for them, and costs can be charged to them. • Sub system assets group assets that represent a sub system of a system, such as heating, cooling, and dehydration sub systems. These assets are treated in the same manner as maintainable assets in that users can enter work requests and work orders for them, and costs can be charged to them. • Component assets are pieces of larger assets, for example, a pumping system could have a pump and motor as components. Component assets are also maintainable, and they can be swapped between locations. • Component locations indicate where a component is located on a maintainable asset or asset group. • Organizations represent organizational units, such as departments. They are often used to group other types of assets so that you can view costs at appropriate levels. • Asset groups collect similar assets together to make it easier for or compare data. For example, all 100hp motors could be represented by an asset group. See Also Consequence priority The asset’s consequence priority number is typically the result of asset prioritization analysis, although it can be set manually. Consequence priorities are often used when sorting and analyzing the work backlog for scheduling or when analyzing asset failure information. APM also uses consequence priorities to determine whether or not to push indicator alarms up the physical hierarchy so that they will be visible on higher levels in the indicator monitoring panel. Warning: The ranking number assigned to consequence priorities is also used to calculate alarm notification rankings for indicator alarms. If you do not select a priority setting for an asset, alarm notifications might not be pushed up the hierarchy to be displayed on a parent asset. This can affect the display of the alarm in the site’s Inspection Management view. See Also Status Asset status represents the operational state of an asset and whether or not it is available for use. APM uses the status of an asset to determine whether or not work is triggered and whether or not components are available for installation. Sites can also use statuses, but these statuses are specific to sites and cannot be used for assets. Status is particularly important for components because it reflects a component’s repair and availability status. For example, when a component is out of service, the status can also indicate whether the component is a spare and available for use, is in the shop for repair, is out for vendor repair, or has been scrapped. When you change the status of a parent asset, the statuses of its children are also changed (provided the previous statuses of the assets were the same). See Also Material Type The type of the material, for example, stainless steel or aluminum. See Also Material Grade The grade of the material type specifies its properties. Grades are identified by designations assigned by standards organizations, for example, SAE and ASTM steel grades. See Also P&ID Piping and instrumentation diagram associated with the asset. In APM, P&IDs are included with standard documents and can be added to assets and safety provisions for reference. See Also In-service Date The date that this asset was first put into service. See Also
