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96 Guidebook for Considering Life-Cycle Costs in Airport Asset Procurement E Economic FailureâWhen the asset is no longer competitive with asset options that are available in the market place for delivering the same or improved function. Economic LifeâPeriod from the acquisition of the asset to the time when the asset, while physi- cally able to provide a service, ceases to be the lowest cost alternative to satisfy a particular need. The economic life is at the maximum equal to the physical life but obsolescence will often ensure that the economic life is less than the physical life. Enterprise Asset Management Systems (EAMS)âA maintenance management system that operates across the organization to include the management of all physical assets owned by the organization. OR Refers to the management of assets to the benefit of the organization as a whole and not lim- ited to a specific area such as a department, location, or division. It includes the entire process of managing the airportâs assets throughout its life cycle from initial planning, designed use, installation, training, operations, maintenance, and eventual replacement. Equivalent Uniform Annual Cost (EUAC)âPayment required to fund the life-cycle cost over the service life of the asset. Excluded AreaâFully enclosed spaces with adequate clear headroom that are not intended for, or are not suitable for, occupancy by people or equipment, but not spaces that are temporarily unusable due to flood, fire damage, construction, or renovation activity. F FacilityâAn installation of assets that facilitates a process or function. Assets within a âsub- systemâ can be classified as either linear or non-linear. Non-linear assets occupy a bound space and can be modeled as part of a parentâchild hierarchy. Linear assets are continuous with linear properties. Facilities are the non-linear installations of assets within a subsystem and underground structures like pipes and valves are considered linear assets. Facility Assignable AreaâCalculated by measuring the portions of the floor used to house personnel, furniture, support areas, and common support areas. Each assignable area is mea- sured to the outside of the enclosing wall or furniture panel, except in the case where a wall or furniture panel is common to more than one assignable area. In this case, measurements are taken to the center of the wall or furniture panel. This measurement is useful for detailed programming, planning, allocating, and layout of space. Facility Condition Assessment (FCA)âAn inspection and assessment of facilities producing a complete account of system and component deficiencies and a list of remediation scenarios. FCA results inform maintenance and capital renewal planning. Facility Interior Gross AreaâDefined as the building exterior minus the thickness of the exte- rior walls. Facility ManagementâPrimary function is to make sure buildings operate at maximum effi- ciency through the optimal integration of people, processes, and technology. Includes HVAC, electrical, plumbing, lighting, cleaning and security. Facility Management Information SystemâThe integration of several computer systems that are each designed to perform a specific function. An example would be the integration of an electronic document management system and a computerized maintenance management sys- tem to manage facilities and the associated information.
Glossary 97 Facility Rentable AreaâCalculated by subtracting major vertical penetrations, interior parking space, and void areas from facility interior gross area. Facility Usable AreaâCalculated by subtracting the primary circulation and the building core and service areas from the facility rentable area. It is area that can be assigned to occupant groups. This measurement is useful for programming, planning, and allocating space. Finished SurfaceâA wall, ceiling, or floor surface (including glass) as prepared for tenant or occupant use. Excluding the thickness of any special surfacing materials such as paneling, furring strips and carpet. G Gap AnalysisâAssessment of the current level of practice in asset management. The gap is the difference between current practices and the best appropriate practice for that organization. It is sometimes referred to as a maturity assessment. General Aviation (GA) AirportâOne of the two categories of civil aviation airports. GA air- ports cater to all flights other than military and scheduled airline and regular cargo flights, both private and commercial. Geographic Information System (GIS)âA computer package that displays a map connected to a database. The package can typically combine features, such as roads and sewers, from differ- ent maps and overlay them on the same screen. To qualify as a GIS, such systems should also be able to reference a computer database for textual information, such as notes and dimen- sions, regarding features displayed on the map. I Impact AssessmentâGenerally involves evaluating data collected on the material and energy inputs in terms of their potential environmental impact. Infor EAMSâSoftware used by organizations to keep track of their assets, understanding that they meet environmental, compliance, and service requirements. Infrastructure AssetsâStationary systems forming a network and serving whole communities, where the system as a whole is intended to be maintained indefinitely at a particular level of service potential by the continuing replacement and refurbishment of its components. The network may include normally recognized assets as components. Infrastructure ManagementâThe discipline of managing infrastructure assets that underpin an economy, such as roads, water supply, wastewater, stormwater, power supply, flood manage- ment, recreational and other assets. Intergenerational EquityâEnsuring that future generations are not burdened with the cost of the consumption of infrastructure by the current generations. Internal Rate of Return (IRR)âA technique that equates the discounted cash flows from a project to an interest rate, the IRR. International Infrastructure Management Manual (IIMM)âManual produced to give an understanding of asset management practices. Interstitial AreaâThe area of load-bearing surfaces, located above or below occupied building floors, that are not available for general occupancy due to inadequate clear headroom, but may contain building mechanical or electrical systems predominantly serving adjacent floors or provide access to such systems.