asset requirement (Enterprise Asset Management)

A description of the immediate or future equipment or furniture needs for a proposed project.

Similar to a space requirement and its corresponding space requirement items, asset requirements (stored in the Space Budgets table) have corresponding asset requirement items. Asset requirement items are stored in:

• the Space Budget Items table -- for assets that have an equipment or furniture standard

• the List of Required Assets (eq_req_items) table -- for specialized, individual assets, or any equipment asset that does not have an associated standard.

To develop asset requirements, you run a workflow rule that examines the current furniture standards inventory and equipment inventory of the selected buildings and floors and creates asset requirement items (records in the Space Budget Items table) according to the summary criteria you enter. If an asset does not have a standard when the workflow rule runs, it is considered an individual asset and is stored in the List of Required Assets (eq_req_items) table.

For example, if you sum at the division level, the asset requirement will have asset requirement items documenting each division's current assets and their cost. This is known as the baseline inventory. From here, you can complete the Period 2 through Period 12 Value fields to project your future needs for these periods.

Since space requirement items and asset requirement items are both stored in the Space Budget Items table, you can distinguish them because the space requirement item records contain a value in the Room Standard (rm_std) field, and the asset records contain a value in the Equipment Standard (eq_std) or Furniture Standard (fn_std) field.

Whereas you can work with space requirements from both the Space Forecast & Planning Console and Project Proposal Console, you work with asset requirements only from the Project Proposal Console (part of the Enterprise Asset Management application).