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This practice covers the management of administratively controlled movable, durable property.
Formerly under the jurisdiction of Committee E53 on Property Management Systems, this practice was withdrawn in January 2011 in accordance with section 10.5.3.1 of the Regulations Governing ASTM Technical Committees, which requires that standards shall be updated by the end of the eighth year since the last approval date.
1.1 This practice covers the management of administratively controlled movable, durable property.
1.2 Generally, organizations should establish and maintain control of such property inventories in a manner that will strike a balance between the costs of control and the risks of sustaining incidents of lost damaged or destroyed property.
1.3 The creation and maintenance of cost effective property management systems is of vital concern, and the costs of inventory control used to identify and locate property should be continually assessed against the physical inventory results.
1.4 The cost effective and timely identification and location of property assets is a critical economic factor in the success of any organization.
2. Referenced Documents (purchase separately) The documents listed below are referenced within the subject standard but are not provided as part of the standard.
E2131 Practice for Assessing Loss, Damage, or Destruction of Property
E2132 Practice for Physical Inventory of Durable, Moveable Property
E2135 Terminology for Property and Asset Management
Other DocumentThe NPMA Standard Property Book, First Edition, Ju
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ASTM E2221-02, Standard Practice for Administrative Control of Property (Withdrawn 2011), ASTM International, West Conshohocken, PA, 2002, www.astm.orgBack to Top