Asset

This is an item that is of value to an organisation.

Asset managed product

This is a product of value and managed in a specific manner for a defined period.

Product

This is a physical instance of a Product Design. Individual products are typically identified by a serial number, and batches are typically identified by a batch number. Both of these would be captured by the referenced Identifier information object.

Product Design

This is the aggregated set of information that constitutes the design of a product. Product designs can be of any "level" of product, from individual nuts and bolts, up to complete equipments, systems and platforms. Product designs are typically identified by a design authority part number, and when fully specified, will have a detailed drawing/product model associated with them that contain the level of detail that enables instances of the physical elements of the design to be manufactured and/or assembled. Those physical elements will be fully specified by their own Product Design. Product designs will typically also contain performance specifications, physical characteristcs (such as dimensions, weight and material specifications), and other charateristics such as cost. Prior to this level of detail being defined, the product design process may involve specification of functions, conceptual physical design/general layout design and identification of spatial zones within the design..