In this paper, a model-based approach for the engineering of production systems is presented, which can be used for structuring information about different viewpoints of a system as well as to support the engineering workflow. In an Industry 4.0-context, these models allow the description of the capabilities of machines or even factories from a functional perspective. This information can be used to react quickly on changes in the production environment, caused by product changes or changes in the requirements of the production process, like shorter production times or higher quality of the products. The information model described in this paper supports the adaption of production systems, since the impact of changes can be evaluated in a comprehensive view. Furthermore, the paper shows how the workflow can be designed to effectively plan with the information model. The proposed approach supports the Industry 4.0 related aspects [4] of smart and continuous engineering and horizontal integration.