I just came across this recently published ASTM standard that appears to hold tremendous promise for facility lifecycle asset management systems. E3035 – 15 is being positioned as a Standard Classification for Facility Asset Component Tracking System or FACTS.
This standard establishes a classification of building and sitework elements and components, and their associated functions, attributes, and products. Elements, as defined here, are major assemblies and components common to buildings and sitework. Elements usually perform given functions, regardless of the design specification, construction method, or materials used. The attribute classification will lead to more effective management of the operation, maintenance, and life cycle cost of the asset.
This represents a tremendous amount of work and all involved deserve a lot of credit for getting this standard to the finish line. I am going to do some additional research on this and will report back.