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Name: Physical Asset
Acronym:
Type: Glossary Item

Related Glossary Item

Definition:
A combination of interacting elements organised to achieve one or more stated functions.

Statement:

Note: Physical assets may be built or natural entities. These may include (from British Standards Institute PAS 55-1, May 2004) Plant, machinery, property, buildings, vehicles and other items and related systems that have a distinct and quantifiable business function or service and includes any software code that is critical to the delivery of the function of the asset.




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