ASTM E2811-11

NOTICE: This standard has either been superseded and replaced by a new version or withdrawn.
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Designation: E2811 − 11
Standard Practice for
Management of Low Risk Property (LRP)
This standard is issued under the fixed designation E2811; the number immediately following the designation indicates the year of
original adoption or, in the case of revision, the year of last revision. A number in parentheses indicates the year of last reapproval. A
superscript epsilon (´) indicates an editorial change since the last revision or reapproval.
1. Scope maintenance, storage, physical inventory, loss, damage, and
destruction reporting and disposition.
1.1 This practice covers the assessment of risk and manage-
3.1.3 low risk property (LRP)—assets that are monitored
ment of low risk property (LRP).
and controlled at the discretion of asset managers and typically
1.2 This practice is directed at tangible LRP.
consist of low risk expendables or durable equipment and
1.3 This practice does not promote mismanagement or
tooling based on established and disclosed criteria. (Refer to
dereliction of duty to protect property, nor protecting property
4.2 for more information.)
unreasonably – to the extent that usefulness is impaired. This
3.1.4 tooling—devices that are used in performing or facili-
practice recognizes the constraints of materiality and costs
tating mechanical operations, including assisting or aiding in
versus benefits in the control and management of property.
the manufacture or repair of an item.
2. Referenced Documents
4. Significance and Use
2.1 ASTM Standards:
4.1 LRPshould be administratively controlled and managed
E2131 PracticeforAddressingandReportingLoss,Damage,
to a lesser degree or with a more efficient technique than higher
or Destruction of Tangible Property
risk property.
E2132 Practice for Inventory Verification: Electronic and
4.2 The type and scope of control and management should
Physical Inventory of Assets
be commensurate with the level of risk. The entity shall
E2135 Terminology for Property and Asset Management
determine the level of risk using the following criteria:
E2608 Practice for Equipment Control Matrix (ECM)
4.2.1 Scarcity,
E2279 Practice for Establishing the Guiding Principles of
4.2.2 Technological obsolescence,
Property Management
4.2.3 Lead time,
2.2 Other Documents:
4.2.4 Standardization,
NPMA Fundamentals of Personal Property Management,
4.2.5 Criticality,
First Edition 2006
4.2.6 Sensitivity,
4.2.7 Dollar value,
3. Terminology
4.2.8 Environmentally regulated,
3.1 Definitions:
4.2.9 National security/threat,
3.1.1 identification/control numbers—markings (barcode,
4.2.10 Schedule constraints,
plate, engraving, etc.) affixed to the asset.
4.2.11 Vulnerability,
3.1.2 life cycle processes (LCP)—the various management
4.2.12 Societal or personal safety, and
and control stages of property from its acquisition through
4.2.13 Contractual agreements.
disposition; these processes include but are not limited to
NOTE 1—The listing in 4.2.1-4.2.13 is not all inclusive and may be
acquisition, receiving, identification, records, movement,
supplemented by the entity.
4.3 The information received from conducting standard
This practice is under the jurisdiction of ASTM Committee E53 on Asset
asset life cycle processes (LCP) for LRP
...