What tools and methodology would you leverage to come up with a metric to prove accuracy and completion of your asset inventory? How would you prove that it’s accurate and how would you prove that its complete?
Great question. I believe metrics for asset accuracy are lifecycle status/stage specific. For example, during the disposition process there is a significate difference between an asset that is retired versus disposed. This distinction is necessary because there may be a significant time between the retirement (asset is no longer being used) and the physical disposal (asset is shipped to a disposal vendor). Of course, there is also a transfer of ownership. An asset should not be considered Disposed until, and unless, there is positive transfer of custody established. A disposal vendor will not accept ownership or responsibility for an asset until it is received.
Accuracy during disposition is measured several ways. The most important metric we have is Tracked. In short, an asset is considered tracked if chain of custody can be established by serial number and or disposal tag. An inventory (of disposed assets) is not accurate if there are asset untracked.
The second part of your question (how accuracy can be proven) is fantastic. There should be a consensus protocol. Metrics must have clear definitions understood and agreed to by all. Measurements should be auditable and reliable (if someone else measures, the get the same results).
Thanks for the great question.