A capability is the inherent function of a physical asset or organisation. To enable a consistent approach, Capabilities are usually described as Verb Noun set. In that way also, Capabilities can be readily associated with the required Output (the second Key Principle of asset management) and the Level of Assurance (the third Key Principle).
So how many capabilities or functions does the pencil photographed have? 
As a start, consider that the pencil, its functions/output and Level of Assurance can be described in the following way, namely:
- As kindling for fire – thus the function is “supply heat” with an associated performance of “150 BTUs” with a confidence of 95% probability that the output will be delivered, when required.
- As an implement to write – thus the function is “provide a legible mark” with an associated performance of “0.2mm in width and 4km length” with a confidence of 95% probability that the output will be delivered, when required.
Other functions for our Pencil might also include:
- As an implement for use by artists – thus the function is “create coloured mark” with the performance of …
- As an instrument to gauge the depth of a hole – thus the function is ”indicate depth” – with the performance of …
- As an instrument to push a switch – thus the function is to “provide a force” – with the performance of …
- As an instrument to eat with – thus the function is to “relocate food from plate to mouth” – with the performance of …
- As a mechanism to re-gain the attention of a sleepy course member – thus the function is “rapcourse participant(Not a recommended function!)” – with the performance of …
- As a mechanism to kill a fly – thus the function is “hit fly” – with the performance of …
- As a instrument to reduce the friction in the internal mechanisms of locks – thus the function is “provide lubrication” – with the performance of …
- As a instrument to stop the leaks in a container of water – thus the function is “stop leaks” – with the performance of …
A bottle of wine will be presented at this year’s conference to the person who provides another FIVE unique Capability/Outputs/Level of Assurance sets for this Pencil.
The decision was made by the TDT team, from the family friendly entries.
The winner of the competition was Mikke Hickey, who was presented with his prize on Tuesday 17 May at the Student Networking Event 5 – 7 pm at the ICOMS Asset Management Conference 2011, Gold Coast.