Life Cycle Cost Model To Support Asset Management Decision Making


Life Cycle Cost Model To Support Asset Management Decision Making
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Life Cycle Cost Model To Support Asset Management Decision Making


Life Cycle Cost Model To Support Asset Management Decision Making
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Author : Ir. Winda Nur Cahyo, Ph.D, IPM
language : en
Publisher: Universitas Islam Indonesia
Release Date : 2019-08-01

Life Cycle Cost Model To Support Asset Management Decision Making written by Ir. Winda Nur Cahyo, Ph.D, IPM and has been published by Universitas Islam Indonesia this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-08-01 with Technology & Engineering categories.


There are confusions related to the area of asset management. At this moment, searching over the internet with the keyword “asset management”, most of the links show the issue about financial asset management such as asset investments, securities, stocks, and obligations. In a simple term, the word “asset management” refers to managing financial asset. However, the term asset does not only include financial asset. In ISO 55000 (2014), the term asset is defined as an item, thing or entity that has potential or actual value to an organization. The value of asset can be categories as financial or non-financial value, tangible or intangible value, and may vary between different organizations and their stakeholders. With this definition, the term asset is very broad and may consist any type of asset such as human resources, stock, building, inventory, trust, capital, goodwill, and land. In this book, the term asset mainly refers to engineering (physical) asset, physical asset as the result of an engineering process (e.g. buildings, machineries, bridges, roads, vehicles, oil rigs, plants, metro tunnels, piping system, rail lines).



Decision Analysis And Implementation Guidance In Strategic Asset Management


Decision Analysis And Implementation Guidance In Strategic Asset Management
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Author : Duncan Rose
language : en
Publisher: International Water Assn
Release Date : 2010

Decision Analysis And Implementation Guidance In Strategic Asset Management written by Duncan Rose and has been published by International Water Assn this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.


Track 3 of WERF's Strategic Asset Management Project was developed to provide guidance on implementing SAM...and develop analytic tools for SAM implementation - the Decision Support Tools and Implementation Guidance goal. In Track 3, the Decision Support Tools and Implementation Guidance goal was organized around two major elements: *Analytic/Decision Support Tools - Develop staged, user-friendly analytic and decision support tools (gap analysis, cost benefit analysis, risk management, life cycle costing, condition assessment selection tool, etc.) for SAM implementation and continuous improvement. *Implementation Tool - Provide practical, accessible guidance for an implementation tool to undertake SAM in incremental stages leading to a well-planned, structured, and progressive implementation to suit the needs of a diverse range of utilities' communication practices.Task Order 2 provided for the following deliverables: *Set up Practitioner Tool-Review Working Group and Establish Framework *Catalogue Available Commercial Off-The-Shelf SAM tools *Identify and Prioritize Core Set of Tools *Identify Critical Success Factors for Implementing SAM *Review and Modify the Gap Analysis Tool *Refine the Six Alternative Routes to Implementation Tool *Develop Information Requirements for SAM Decision Making The materials presented in the following sections were developed as a result of executing Task Order 2 to achieve the Project goal. Each chapter details a separate deliverable. Relevant developed materials have been or are in the process of being added to SIMPLE, WERF's web-based asset management knowledge base. Asset management can be defined as a way of management thinking and a set of best practices built around a structured framework that assist asset managers in making the most cost effective investment decisions in existing and new assets to sustain long term performance of the assets in an environment of limited resources where these decisions represent an integration of operations, maintenance, and capital intervention strategies.At the heart of the framework is the concept of business risk - a metric that measures the interaction of the probability of failure, the consequence of failure, and risk mitigation strategies. This research: *Facilitates the adoption of best practice in asset management in the public water utility industry. *Provides an asset management knowledge base that is a structured repository of a broad range and deeply substantive collection of materials oriented toward the practicing asset manager. *Addresses the why and how of asset management at levels for novice, intermediate, and advanced practitioners.



Maintenance Costs And Life Cycle Cost Analysis


Maintenance Costs And Life Cycle Cost Analysis
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Author : Diego Galar
language : en
Publisher:
Release Date : 2017

Maintenance Costs And Life Cycle Cost Analysis written by Diego Galar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with BUSINESS & ECONOMICS categories.


"Authors have attempted to create coherent chapters and sections on how the fundamentals of maintenance cost should be organized, to present them in a logical and sequential order. Necessarily, the text starts with importance of maintenance function in the organization and moves to life cycle cost (LCC) considerations followed by the budgeting constraints. In the process, they have intentionally postponed the discussion about intangible costs and downtime costs later on in the book mainly due to the controversial part of it when arguing with managers. The book will be concluding with a short description of a number of sectors where maintenance cost is of critical importance. The goal is to train the readers for a deeper study and understanding of these elements for decision making in maintenance, more specifically in the context of asset management. This book is intended for managers, engineers, researchers, and practitioners, directly or indirectly involved in the area of maintenance. The book is focused to contribute towards better understanding of maintenance cost and use of this knowledge to improve the maintenance process. Key Features:• Emphasis on maintenance cost and life cycle cost especially under uncertainty.• Systematic approach of how cost models can be applied and used in the maintenance field.• Compiles and reviews existing maintenance cost models.• Consequential and direct costs considered.• Comparison of maintenance costs in different sectors, infrastructure, manufacturing, transport."--Provided by publisher.



Maintenance Costs And Life Cycle Cost Analysis


Maintenance Costs And Life Cycle Cost Analysis
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Author : Diego Galar
language : en
Publisher: CRC Press
Release Date : 2017-09-18

Maintenance Costs And Life Cycle Cost Analysis written by Diego Galar and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-18 with Technology & Engineering categories.


Authors have attempted to create coherent chapters and sections on how the fundamentals of maintenance cost should be organized, to present them in a logical and sequential order. Necessarily, the text starts with importance of maintenance function in the organization and moves to life cycle cost (LCC) considerations followed by the budgeting constraints. In the process, they have intentionally postponed the discussion about intangible costs and downtime costs later on in the book mainly due to the controversial part of it when arguing with managers. The book will be concluding with a short description of a number of sectors where maintenance cost is of critical importance. The goal is to train the readers for a deeper study and understanding of these elements for decision making in maintenance, more specifically in the context of asset management. This book is intended for managers, engineers, researchers, and practitioners, directly or indirectly involved in the area of maintenance. The book is focused to contribute towards better understanding of maintenance cost and use of this knowledge to improve the maintenance process. Key Features: • Emphasis on maintenance cost and life cycle cost especially under uncertainty. • Systematic approach of how cost models can be applied and used in the maintenance field. • Compiles and reviews existing maintenance cost models. • Consequential and direct costs considered. • Comparison of maintenance costs in different sectors, infrastructure, manufacturing, transport.



Asset Condition Information Systems And Decision Models


Asset Condition Information Systems And Decision Models
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Author : Joe E. Amadi-Echendu
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-11-05

Asset Condition Information Systems And Decision Models written by Joe E. Amadi-Echendu and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-05 with Technology & Engineering categories.


Asset Condition, Information Systems and Decision Models, is the second volume of the Engineering Asset Management Review Series. The manuscripts provide examples of implementations of asset information systems as well as some practical applications of condition data for diagnostics and prognostics. The increasing trend is towards prognostics rather than diagnostics, hence the need for assessment and decision models that promote the conversion of condition data into prognostic information to improve life-cycle planning for engineered assets. The research papers included here serve to support the on-going development of Condition Monitoring standards. This volume comprises selected papers from the 1st, 2nd, and 3rd World Congresses on Engineering Asset Management, which were convened under the auspices of ISEAM in collaboration with a number of organisations, including CIEAM Australia, Asset Management Council Australia, BINDT UK, and Chinese Academy of Sciences, Beijing University of Chemical Technology, China. Asset Condition, Information Systems and Decision Models will be of particular interest to finance, maintenance, and operations personnel whose roles directly affect the capability value of engineering asset base, as well as asset managers in both industry and government.



Value Based And Intelligent Asset Management


Value Based And Intelligent Asset Management
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Author : Adolfo Crespo Márquez
language : en
Publisher: Springer
Release Date : 2019-06-29

Value Based And Intelligent Asset Management written by Adolfo Crespo Márquez and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-29 with Technology & Engineering categories.


The fundamental motivation of this book is to contribute to the future advancement of Asset Management in the context of industrial plants and infrastructures. The book aims to foster a future perspective that takes advantage of value-based and intelligent asset management in order to make a step forward with respect to the evolution observed nowadays. Indeed, the current understanding of asset management is primarily supported by well-known standards. Nonetheless, asset management is still a young discipline and the knowledge developed by industry and academia is not set in stone yet. Furthermore, current trends in new organizational concepts and technologies lead to an evolutionary path in the field. Therefore, this book aims to discuss this evolutionary path, starting first of all from the consolidated theory, then moving forward to discuss: • The strategic understanding of value-based asset management in a company; • An operational definition of value, as a concept on the background of value-based asset management; • The identification of intelligent asset management, with the aim to frame a set of “tools” recommended to support the asset-related decision-making process over the asset lifecycle; • The emergence of new technologies such as cyber physical systems and digital twins, and the implications of this on asset management.



Life Cycle Cost Approach For Management Of Environmental Resources


Life Cycle Cost Approach For Management Of Environmental Resources
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Author : V. Ratna Reddy
language : en
Publisher: Springer
Release Date : 2014-08-22

Life Cycle Cost Approach For Management Of Environmental Resources written by V. Ratna Reddy and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-08-22 with Science categories.


This book demonstrates the application of Life-cycle Cost Approach (LCCA) in the management of infrastructure and other investment projects in the context of developing countries. The main goal is to identify potential opportunities for the adoption LCCA in developing countries, with the help of case studies and best practices. The editors observe that developing countries are plagued with poor and fluctuating service delivery which affords low or no priority for environmental protection. They seek to instill at the policy-making level an understanding of why life-cycle cost assessment is central to achieving the goals of sustainable development as well as sustainable service delivery and to influence the behavior of sector stakeholders. The editors examine the evolution of LCCA from a project appraisal tool to a more comprehensive method of incorporating sustainable development aspects in a variety of sectors. By providing a compendium of concepts, tools and practical experiences, it seeks to broaden the application of LCCA, which is often limited to specific phases of the life-cycle with little or no weight given to environmental aspects. The aim of the book is to mainstream LCCA into governance processes at institutional levels from local to national, in order to increase the ability and willingness of decision makers - both users and those involved in service planning, budgeting and delivery - to reach better informed and more relevant choices among different types and levels of products and services.



9th Wceam Research Papers


9th Wceam Research Papers
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Author : Joe Amadi-Echendu
language : en
Publisher: Springer
Release Date : 2015-03-18

9th Wceam Research Papers written by Joe Amadi-Echendu and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-18 with Technology & Engineering categories.


Engineering asset management encompasses all types of engineered assets including built environment, infrastructure, plant, equipment, hardware systems and components. Following the release of ISO 5500x set of standards, the 9th WCEAM addresses the hugely important issue of what constitutes the body of knowledge in Engineering Asset Management. Topics discussed by Congress delegates are grouped into a number of tracks including strategies for investment and divestment of assets, operations and maintenance of assets, assessments of assets condition, risk and vulnerability, technologies and systems for management of asset, standards, education, training and certification. These proceedings include a sample of the wide range of topics presented during the 9th World Congress on Engineering Asset Management in Pretoria South Africa 28 – 31 October, 2014 and complements other emerging publications and standards that embrace the wide ranging issues concerning the management of engineered physical assets.



Engineering Asset Management Systems Professional Practices And Certification


Engineering Asset Management Systems Professional Practices And Certification
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Author : Peter W. Tse
language : en
Publisher: Springer
Release Date : 2014-12-09

Engineering Asset Management Systems Professional Practices And Certification written by Peter W. Tse and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-09 with Technology & Engineering categories.


This proceeding represents state-of-the-art trends and developments in the emerging field of engineering asset management as presented at the Eight World Congress on Engineering Asset Management (WCEAM). The Proceedings of the WCEAM 2013 is an excellent reference for practitioners, researchers and students in the multidisciplinary field of asset management, covering topics such as: Asset condition monitoring and intelligent maintenance, 2. Asset data warehousing, data mining and fusion, 3. Asset performance and level-of-service models, 4. Design and life-cycle integrity of physical assets, 5. Deterioration and preservation models for assets, 6. Education and training in asset management, 7. Engineering standards in asset management, 8. Fault diagnosis and prognostics, 9. Financial analysis methods for physical assets, 10. Human dimensions in integrated asset management, 11. Information quality management, 12. Information systems and knowledge management, 13. Intelligent sensors and devices, 14. Maintenance strategies in asset management, 15. Optimisation decisions in asset management, 16. Risk management in asset management, 17. Strategic asset management, 18. Sustainability in asset management. King WONG served as Congress Chair for WCEAM 2013 and ICUMAS 2013 is the President of the Hong Kong Institute of Utility Specialists (HKIUS) and Convener of International Institute of Utility Specialists (IIUS). Peter TSE is the Director of the Smart Engineering Asset Management laboratory (SEAM) at the City University of Hong Kong and served as the Chair of WCEAM 2013 Organising Committee. Joseph MATHEW served as the Co-Chair of WCEAM 2013 is also WCEAM’s General Chair. He is the Chief Executive Officer of Asset Institute, Australia.



Maintenance Costs And Life Cycle Cost Analysis


Maintenance Costs And Life Cycle Cost Analysis
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Author : Diego Galar
language : en
Publisher: CRC Press
Release Date : 2017-09-18

Maintenance Costs And Life Cycle Cost Analysis written by Diego Galar and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-18 with Technology & Engineering categories.


Authors have attempted to create coherent chapters and sections on how the fundamentals of maintenance cost should be organized, to present them in a logical and sequential order. Necessarily, the text starts with importance of maintenance function in the organization and moves to life cycle cost (LCC) considerations followed by the budgeting constraints. In the process, they have intentionally postponed the discussion about intangible costs and downtime costs later on in the book mainly due to the controversial part of it when arguing with managers. The book will be concluding with a short description of a number of sectors where maintenance cost is of critical importance. The goal is to train the readers for a deeper study and understanding of these elements for decision making in maintenance, more specifically in the context of asset management. This book is intended for managers, engineers, researchers, and practitioners, directly or indirectly involved in the area of maintenance. The book is focused to contribute towards better understanding of maintenance cost and use of this knowledge to improve the maintenance process. Key Features: • Emphasis on maintenance cost and life cycle cost especially under uncertainty. • Systematic approach of how cost models can be applied and used in the maintenance field. • Compiles and reviews existing maintenance cost models. • Consequential and direct costs considered. • Comparison of maintenance costs in different sectors, infrastructure, manufacturing, transport.