A physical asset is an item of economic, commercial, or exchange value that has a material existence.
Physical assets are also known as tangible assets.
For most businesses, physical assets usually refer to properties, equipment, and inventory
term introduced first in PAS 1192 and updated in ISO 19650 framework, it depicts the process of specifying and delivery of project and asset information
forms a framework that supports informed and consistent decision making by project teams, at each work stage, helping to deliver agreed and reliable information.
Exchange Information Requirements (EIR) term introduced by BS EN 19650 replace the PAS 1192 term Employer Information Requirements (EIR) on all projects where BS EN ISO 19650 compliance is required.
The term introduced by ISO 19650 typically describes the Tier 1 Main Contractor.
schedule of information containers and delivery dates, for a specific task team