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Significance and Use
Essential data elements shall be included in the equipment record to provide efficient and effective management of property.
Optional data elements are part of the record depending on the entity’s need or owner's requirements, or both. Optional data elements are not limited to those cited in this practice.
Use of this practice will result in greater efficiency in the management of equipment including its monitoring, performance of physical inventories, self assessments, disposition, etc.
1.1 This practice is not intended to be used for the creation of material records.
1.2 This practice presents both essential and optional data elements contained within an equipment record.
1.3 Essential data elements are requisite and shall be included in a equipment record to ensure efficient, effective management and control of equipment and to provide information regarding the status to management, users, or customers.
1.4 Optional data elements are applicable to equipment records depending upon the needs of the entity. Not all optional data elements are required or applicable to all entities.
1.5 The division of data elements into essential and optional data elements allows this practice to be applied across a wide spectrum of applications.
1.6 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 and health practices and determine the applicability of regulatory limitations prior to use.
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