Asset Management Ontology Requirements to Support Life Cycle Cost Analysis

Abstract: The current IT paradigm in the built environment is misaligned with sustainability policy. Previously proposed ontologies for Asset Management, such as life cycle analysis, lack complete concepts to cater to a wide stakeholder group. This paper describes a more comprehensive asset management software landscape. It details the initial development steps using the Linked Open Terms methodology including requirements gathering and ontology conceptualisation. A modular ontology landscape is proposed including top-level, domain-wide concepts and modular, application-specific concepts; a scenario suited to the particularly broad domain needs.The work fosters consensus in the domain and we propose alignment/extension with the existing RealEstateCore standard.