The technical meaning of maintenance involves functional checks, servicing, repairing or replacing of necessary devices, equipment, machinery, building infrastructure, and supporting utilities in industrial, business, and residential installations. Over time, this has come to include multiple wordings that describe various cost-effective practices to keep equipment operational; these activities occur either before or after a failure.
Seismic risk refers to the risk of damage from earthquake to a building, system, or other entity. Seismic risk has been defined, for most management purposes, as the potential economic, social and environmental consequences of hazardous events that may occur in a specified period of time. A building located in a region of high seismic hazard is at lower risk if it is built to sound seismic engineering principles. On the other hand, a building located in a region with a history of minor seismicity, in a brick building located on fill subject to liquefaction can be as high or higher risk.
Total cost of ownership (TCO) is a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or service. It is a management accounting concept that can be used in full cost accounting or even ecological economics where it includes social costs.
Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value for real property. Real estate transactions often require appraisals because they occur infrequently and every property is unique, unlike corporate stocks, which are traded daily and are identical. The location also plays a key role in valuation. However, since property cannot change location, it is often the upgrades or improvements to the home that can change its value. Appraisal reports form the basis for mortgage loans, settling estates and divorces, taxation, and so on. Sometimes an appraisal report is used to establish a sale price for a property.
Deferred maintenance is the practice of postponing maintenance activities such as repairs on both real property and personal property in order to save costs, meet budget funding levels, or realign available budget monies. The failure to perform needed repairs could lead to asset deterioration and ultimately asset impairment. Generally, a policy of continued deferred maintenance may result in higher costs, asset failure, and in some cases, health and safety implications.
The National Bridge Inventory (NBI) is a database, compiled by the Federal Highway Administration, with information on all bridges and tunnels in the United States that have roads passing above or below them. That is similar to the grade-crossing identifier number database, compiled by the Federal Railroad Administration, which identifies all railroad crossings. The bridge information includes the design of the bridge and the dimensions of the usable portion. The data is often used to analyze bridges and to judge their condition. The inventory is developed for the purpose of having a unified database for bridges to ensure the safety of the traveling public, as required by the Federal Aid Highway Act of 1968. It includes identification information, bridge types and specifications, operational conditions, bridge data including geometric data and functional description, and inspection data. Any bridge more than 20 ft long used for vehicular traffic is included.
The Resolution Trust Corporation (RTC) was a U.S. government-owned asset management company run by Lewis William Seidman and charged with liquidating assets, primarily real estate-related assets such as mortgage loans, that had been assets of savings and loan associations (S&Ls) declared insolvent by the Office of Thrift Supervision (OTS) as a consequence of the savings and loan crisis of the 1980s. It also took over the insurance functions of the former Federal Home Loan Bank Board (FHLBB).
Financial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default. Often it is understood to include only downside risk, meaning the potential for financial loss and uncertainty about its extent.
The pavement condition index (PCI) is a numerical index between 0 and 100, which is used to indicate the general condition of a pavement section. The PCI is widely used in transportation civil engineering and asset management, and many municipalities use it to measure the performance of their road infrastructure and their levels of service. It is a statistical measure and requires manual survey of the pavement. This index was originally developed by the United States Army Corps of Engineers as an airfield pavement rating system, but later modified for roadway pavements and standardized by the ASTM. The surveying processes and calculation methods have been documented and standardized by ASTM for both roads and airport pavements:
A bridge management system (BMS) is a means for managing bridges throughout design, construction, operation and maintenance of the bridges. As funds available become tighter, road authorities around the world are facing challenges related to bridge management and the escalating maintenance requirements of large infrastructure assets. Bridge management systems help agencies to meet their objectives, such as building inventories and inspection databases, planning for maintenance, repair and rehabilitation (MR&R) interventions in a systematic way, optimizing the allocation of financial resources, and increasing the safety of bridge users.
Special Operations Response Teams are a group under the US Federal Bureau of Prisons, or BOP for short, a component of the US Department of Justice (DOJ). The BOP is responsible for maintaining the custody of anyone convicted of committing a federal crime. To achieve this goal, the BOP maintains a number of correctional facilities, which are divided into six regions, throughout the US. These facilities house approximately 211,195 inmates of varying security levels. Facilities are designated as either minimum, medium, maximum, or the most recent addition, super max.
Medical equipment management is a term for the professionals who manage operations, analyze and improve utilization and safety, and support servicing healthcare technology. These healthcare technology managers are, much like other healthcare professionals referred to by various specialty or organizational hierarchy names.
Pavement management is the process of planning the maintenance and repair of a network of roadways or other paved facilities in order to optimize pavement conditions over the entire network.
The CAMELS rating is a supervisory rating system originally developed in the U.S. to classify a bank's overall condition. It is applied to every bank and credit union in the U.S. and is also implemented outside the U.S. by various banking supervisory regulators.
Facility condition assessment is an analysis of the condition of a facility in terms of age, design, construction methods, and materials. The individuals who perform the assessment are typically architects and engineers, and skilled-trade technicians. Engineering and architectural professional opinions as to the conditions observed are part of the assessment. Building diagnostics go beyond facility condition assessments to determine solutions to the problems found and predict outcomes of the solutions.
A reserve study is a long-term capital budget planning tool which identifies the current status of the reserve fund and a stable and equitable funding plan to offset ongoing deterioration, resulting in sufficient funds when those anticipated major common area expenditures actually occur. The reserve study consists of two parts: the physical analysis and the financial analysis. This document is often prepared by an outside independent consultant for the benefit of administrators of a property with multiple owners, such as a condominium association or homeowners' association (HOA), strata, containing an assessment of the state of the commonly owned property components as determined by the particular association's CC&Rs and bylaws. Reserve studies however are not limited only to condominiums and can be created for other properties such as resort properties, apartment buildings, worship facilities, private schools, private (golf/social) clubs, and office parks.
Performance-Based Building Design is an approach to the design of any complexity of building, from single-detached homes up to and including high-rise apartments and office buildings. A building constructed in this way is required to meet certain measurable or predictable performance requirements, such as energy efficiency or seismic load, without a specific prescribed method by which to attain those requirements. This is in contrast to traditional prescribed building codes, which mandate specific construction practises, such as stud size and distance between studs in wooden frame construction. Such an approach provides the freedom to develop tools and methods to evaluate the entire life cycle of the building process, from the business dealings, to procurement, through construction and the evaluation of results.
Sierra Army Depot (SIAD) is a United States Army post and military equipment storage facility located near the unincorporated community of Herlong, California. It was built in 1942 as one of several ammunition storage facilities located far enough inland to be safe from Japanese attack, yet close enough to western military posts and ports to facilitate shipment of supplies. The site also met the requirement that the depot be in a dry and isolated area.
Infrastructure asset management is the integrated, multidisciplinary set of strategies in sustaining public infrastructure assets such as water treatment facilities, sewer lines, roads, utility grids, bridges, and railways. Generally, the process focuses on the later stages of a facility's life cycle, specifically maintenance, rehabilitation, and replacement. Asset management specifically uses software tools to organize and implement these strategies with the fundamental goal to preserve and extend the service life of long-term infrastructure assets which are vital underlying components in maintaining the quality of life in society and efficiency in the economy. In the 21st century, climate change adaptation has become an important part of infrastructure asset management competence.
The Federal Correctional Institution, Petersburg is a United States federal prison for low- and medium-security male inmates. It is part of the Petersburg Federal Correctional Complex (FCC) in Virginia and operated by the Federal Bureau of Prisons, a division of the United States Department of Justice. An adjacent satellite prison camp houses minimum-security male offenders. FCI Petersburg consists of two facilities:
