Physical Asset Management

At Levin, we participate actively in the ISO TC-251 technical committee, which generated and maintains the ISO 55000 family of standards on asset management. We focus in the aspects of the standard related to the reliability of asset data, and the alignment of asset data across the different departments of the organization.

Asset Management

Review or define a taxonomy for physical assets hierarchy, in accordance with ISO 14224.

Discuss and agree on the appropriate hierarchy level for alignment of departmental asset records – typically maintenance, finance, projects, warehouse, and information technology – in accordance with ISO 55010.
Align data in physical asset records managed by relevant departments, on corporate platforms such as SAP and Oracle.
Determine Capex and Opex accounting criteria for maintenance orders.
Determine assets’ total cost of ownership throughout their useful lives.
Estimate assets’ fair value and insurable value.
Conduct impairment analyses.
Provide expert assistance for investment and divestment decisions in physical assets, in accordance with corporate strategy.

Data Reliability

  • Develop norms and procedures for asset identification, description, and control.
  • Conduct field tasks: initial and cyclic standard compliant surveys, and apply physical labeling: barcodes, QR, RFID.
  • Data cleanse and reconcile asset data in all departmental asset registers.

Comprehensive Asset Outsourcing

  • Conduct cyclic inventories and keep asset data reliable.
  • Provide monthly analysis of movements, maintain databases and produce relevant reports.
  • Assure information quality.


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