BS 8544:2013 pdf download – Guide for life cycle costing of maintenance during the in use phases of buildings
3Terms, definitions and abbreviations
3.1 Terms and definitions
For the purposes of this British Standard the terms and definitions included inBs lso 15686-5,PD 156865 and the following apply.
NOTE Common terminology used in the industry can also be found in theRICS NRM 1  and BCIS’Standard Form of Cost Analysis (NRM edition).
3.1.1annual equivalent cost
uniform annual amount equivalent to the project net costs, taking into accountthe time value of money throughout the period of analysis
whole building, structure or unit of construction works, or a system or componentor part thereof
[SoURCE: BS ISO 15686-10:2010,3.1]
NOTE This definition includes infrastructure, assemblies, materials and landscaping.
collection of records holding information about facility assets in terms of theirmanufacturer, vendor, make, model, specifications, date of acquisition, initial cost,maintenance costs and requirements, accumulated depreciation and written-downvalue
cost of an existing or selected life cycle scenario against which enhanced or
improved options can be compared or the cost of a specific solution selected as abenchmark with which to measure other options
date at which rates and prices contained within cost analyses or benchmarkanalyses are based
[SOURCE: RICS NRM 1,1.3.3]
interest rate selected as the basis of the selected discount rate
NOTE This could be the current bank rate or the employer’s cost of capital.The baserate is commonly adjusted by the inflation rate to give the discount rate.
construction works that have the provision of shelter for its occupants or contentsas one of its main purposes, usually partially or totally enclosed and designed to
stand permanently in one place
[SoURCE: BS 6100-1:2004,3.1.3]
3.1.8business criticality assessment
assessment based on the impact to the business of not undertaking themaintenance work
acquisition costs where these are treated as capital expenditure
3.1.10capital reinstatement value
current cost of reinstatement of the buildings in their present form, includingdemolition, site clearance and fees, but excluding vAT(except on fees)
NOTE Capital reinstatement value is sometimes incorrectly referred to as the “fire
insurance valuation”.Further information and guidance regarding this can be found inthe ABI/BCIS House rebuilding cost index, RICs valuation: professional standards .
product manufactured as a distinct unit to serve a specific function or functions[SOURCE: BS 6100-1:2004,6.1.3]
maintenance carried out after fault recognition and intended to put an asset intoa state in which it can perform a required function
[SoURCE:BS EN 13306:2010,7.5]
corrective maintenance which is not immediately initiated after occurrenceof a failure or detection of a fault, but is delayed in accordance with givenmaintenance rules
NOTEFor example, a faulty lock or a security door might be flagged as work to becarried out as part of a set maintenance schedule along with other similar works andtherefore fall into the deferred maintenance category.
service life intended by the designer
[SOURCE:BS ISO 15686-1:2011,3.3, modified – Note has been deleted]
person or organization responsible for initiating and financing a project andapproving the brief
physical setting used to serve a specific purpose
NOTE 1 A facility may be part of a building, a whole building or more than one
building, and might include related constructions (such as roads and walkways), which,taken as a whole, serve a specific purpose.
NOTE 2 This term encompasses both the physical object(s) and its (their) use.[SOURCE:BS ISO 15686-10:2010,3.8]
integration of processes within an organization to maintain and develop theagreed services that support and improve the effectiveness of its primary use
purpose or activity of users and other stakeholders for which an asset or a facilityis designed, used or required to be used
[SoURCE: BS ISO 15686-10:2010,3.10]
3.1.19 function condition index
ratio of the function unit cost estimate of predicted life cycle major repairs andreplacements, (renewal works) identified by a condition and remaining lifeassessments, to the CRV, expressed over an agreed period of analysis