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Asset Management decision support tools: A conceptual approach for managing their performance
Abstract and Figures
Decision Support Tools (DSTs) are commonly utilised within the Asset Management (AM) operations of infrastructure organisations. These manual or computerised tools are used to support decisions about what assets to acquire and how to operate them. Their performance can therefore have significant financial and non-financial implications for a business. Despite their importance, managing the performance of DSTs after implementation has received only limited attention within the literature.
The output of this research is a conceptual approach for managing the performance of decision support tools used within an Asset Management context. It encompasses a risk-based DST Performance Management Process and DST Performance Assessment Techniques (the methods for applying the process in an industry setting).
The novelty of the approach: (1) Alignment with the fundamental principles of the International Standard for Asset Management, ISO 5500x:2014. Thus, consistency of the management of DSTs with other assets types. (2) A generic process that is tailored to the context of the specific organisation. (3) Consistency with the risk management process (ISO 31000:2009) and meeting the requirements for a quality process defined within the Quality Management Standard (ISO 9000: 2015). (4) A cyclical process design ensuring that the approach, and how the approach is applied within an industry setting, will evolve to reflect the changing environment.
A case study and the input of subject matter experts from within National Grid Electricity Transmission was used to both inform and evaluate the conceptual approach design. A semi-structured interview, with a water sector subject matter expert, assesses the transferability of the approach to a wider Asset Management population.
The results of the evaluation demonstrate the conceptual approach to be both logical and useable in each context. The future research pathway looks to progress the conceptual approach through to industry adoption.
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... The output of this 42-month project was a conceptual approach for managing the performance of DSTs used within an asset management context. The approach consists of a DST performance management process and DST performance assessment techniques-the methods for applying the process in an industry setting [13]. The focus of this paper is the DST performance management process. ...
... To mitigate researcher bias, the focus group was facilitated, and responses captured by one of the participants. During the analysis, the captured comments and audio recording of the focus group were analysed [13]. ...
... The transferability of the approach to the water sector was evaluated as part of the programme of work [13]. Although providing some evidence, further studies across a wider sample of sectors and organisations are required; 3. ...
Decision support tools (DSTs) are increasingly being used to assist with asset acquisition and management decisions. Whether these tools are “fit for purpose” will have both economic and non-economic implications. Despite this, the on-going governance of DST performance receives only limited attention within both the academic and industry literature. This work addresses that research gap. Within this paper a conceptual process for managing the operational performance of decision support tools is presented. The novelty of the approach is that it aligns with the ISO 5500x:2014 Asset Management Standard, therefore introducing consistency in the governance of DSTs with physical engineered assets. A case study of the UK’s National Grid Electricity Transmission (NGET) is used to inform the approach design. The evaluation demonstrates it to be both logical and useable within the context of NGET and they have expressed an intention to implement the approach within their business. A key finding of the research was that DSTs transcend functions and organisations. This is significant and can lead to a situation whereby performance and criticality are interpreted and measured differently. The introduction of a common approach for managing DST performance works towards improving consistency and creating a shared understanding.
... The output of this 42-month project was a conceptual approach for managing the performance of DSTs used within an asset management context. The approach consists of a DST performance management process and DST performance assessment techniques-the methods for applying the process in an industry setting [13]. The focus of this paper is the DST performance management process. ...
... To mitigate researcher bias, the focus group was facilitated, and responses captured by one of the participants. During the analysis, the captured comments and audio recording of the focus group were analysed [13]. ...
... 2. The transferability of the approach to the water sector was evaluated as part of the programme of work [13]. Although providing some evidence, further studies across a wider sample of sectors and organisations are required; 3. Key to the uptake of the approach by industry is being able to demonstrate that it has value. ...
Decision support tools (DSTs) are increasingly being used to assist with asset acquisition and management decisions. Whether these tools are “fit for purpose” will have both economic and non-economic implications. Despite this, the on-going governance of DST performance receives only limited attention within both the academic and industry literature. This work addresses that research gap. Within this paper a conceptual process for managing the operational performance of decision support tools is presented. The novelty of the approach is that it aligns with the ISO 5500x:2014 Asset Management Standard, therefore introducing consistency in the governance of DSTs with physical engineered assets. A case study of the UK’s National Grid Electricity Transmission (NGET) is used to inform the approach design. Evaluation demonstrates it to be both logical and useable within the context of NGET and they have expressed an intention to implement the approach within their business. A key finding of the research was that DSTs transcend functions and organisations. This is significant and can lead to a situation whereby performance and criticality are interpreted and measured differently. The introduction of a common approach for managing DST performance works towards improving consistency and creating a shared understanding.
This book focuses on the key ideas and principles that underlie contemporary approaches to social research and identifies 12 basic ground rules for good research. In clear language it provides a user-friendly resource for people doing small-scale social research projects.
The purpose of this chapter is to outline the development of the idea of "stakeholder management" as it has come to be applied in strategic management. We begin by developing a brief history of the concept. We then suggest that traditionally the stakeholder approach to strategic management has several related characteristics that serve as distinguishing features. We review recent work on stakeholder theory and suggest how stakeholder management has affected the practice of management. We end by suggesting further research questions.
Interoperability assets is the term applied to refer to any resource that can support the design, implementation and successful adoption of eHealth services that can exchange data meaningfully. Some examples may include functional requirements, specifications, standards, clinical models and term lists, guidance on how standards may be used concurrently, implementation guides, educational resources, and other resources. Unfortunately, these are largely accessible in ad hoc ways and result in scattered fragments of a solution space that urgently need to be brought together. At present, it is well known that new initiatives and projects will reinvent assets of which they were unaware, while those assets which were potentially of great value are forgotten, not maintained and eventually fall into disuse. This research has defined a quality in use model and assessed the suitability of this quality framework based on the feedback and opinion of a representative sample of potential end users. This quality framework covers the following domains of asset development and adoption: (i) Development process, (ii) Maturity level, (iii) Trustworthiness, (iv) Support & skills, (v) Sustainability, (vi) Semantic interoperability, (vii) Cost & effort of adoption (viii) Maintenance. When participants were requested to evaluate how the overall quality in use framework, 70% would recommend using the register to their colleagues, 70% felt that it could provide relevant benefits for discovering new assets, and 50% responded that it would support their decision making about the recommended asset to adopt or implement in their organisation. Several European projects have expressed interest in using the register, which will now be sustained and promoted by the the European Institute for Innovation through Health Data.
The massive number of infrastructure intervention activities occurring in cities leads to detrimental social, environmental, and economic impacts on the community. Thus, integrating the asset intervention activities is required to minimize the community disruption and maintain an acceptable level of service throughout the assets' lifecycle. This paper presents an integrated multiobjective asset management system for the road and water infrastructure that enables asset managers to trade off intervention alternatives and compare the outcomes of both conventional and integrated asset management systems. The multiobjective framework considers (1) physical state, (2) lifecycle costs, (3) user costs, and (4) replacement value. It revolves through three core models: (1) a database model that contains detailed asset inventory for the road and water networks; (2) key performance indicator (KPI) computational models for assessing the impact of the intervention plan on the predefined set of KPIs; and (3) an optimization model that relies on a combination of metaheuristics, dynamic programming, and goal optimization to schedule the intervention activities throughout the planning horizon. The system is applied to road and water networks in Kelowna, British Columbia, and the results show 33 and 50% savings in lifecycle costs and user costs, respectively. Moreover, it shows the potential ability to scale the framework to include other infrastructure such as sewer, electricity, gas, and telecom, provided that the information can be shared among these entities.
Maintenance cost optimization and performance prediction of bridge structures have become important challenges in bridge
management systems. The performance of bridge structures should be carefully monitored, especially in severe climatic conditions. The
objective of this study is to develop a rational method that predicts the most cost-effective intervention schedule for bridges, where the
structural safety is maintained with the minimum possible lifecycle cost. The framework functions through (1) a central database that contains
the asset inventory along with the maintenance actions list, (2) a biquadratic system reliability–based deterioration model, (3) an intervention
effect model that simulates the effect of undertaking various intervention scenarios on the bridge superstructure performance, (4) a financial
model that computes the lifecycle costs throughout the planning horizon, and (5) an optimization model that utilizes a genetic algorithms
engine to compare the different intervention scenarios and selects the most cost-effective one. This method is applied to a simply supported
bridge superstructure case study, designed in accordance with Canadian highway bridge design standards. The results indicate that undertaking
less costly minor repair actions may considerably reduce the lifecycle costs as a result of decreasing the number of costly major
interventions. The optimum scenario resulted in an equivalent uniform annual cost of US$8,277 per year, which shows 4.5 times cost saving
as compared with the conventional scenario where only major repairs are performed. This innovative combination of reliability analysis,
nonlinear finite-element modeling, and genetic algorithms optimization supports asset managers in long-term planning and ensures undertaking
rational and objective decisions.
The Maintenance Management Framework describes and reviews the concept, process and framework of modern maintenance management of complex systems; concentrating specifically on modern modelling tools (deterministic and empirical) for maintenance planning and scheduling. It presents a new perspective of maintenance management by:
• focusing on the course of maintenance actions;
• presenting a structure that ensures proper support for current maintenance managers;
• clarifying the functionality that is required from information technology when applied to maintenance and the functions of modern maintenance engineering; and
• creating a set of practical models for maintenance management planning and scheduling.
The discussion of all of these issues is supported through the use of case studies.
The Maintenance Management Framework will be beneficial for engineers and professionals involved in: maintenance management, maintenance engineering, operations management, quality, etc. It will also be of interest to graduate students and researchers in this field.
Dr Adolfo Crespo Márquez is an Associate Professor in the Department of Industrial Management, School of Engineering at the University of Seville. Within the area of maintenance, he has extensively participated in many engineering and consulting projects for numerous companies and for the Spanish Ministry of Science and Education.
In the past decades asset intensive companies have witnessed a number of regulatory changes and especially industry is facing ever increasing competitiveness. To overcome these challenges different asset management methods have been developed aimed to improve the asset life cycle. Especially the design phase and operation and maintenance phase have seen a rise in tools and methods. Smarter design can lead to improved operation. Likewise, improved operation and maintenance leads to lower replacement costs and may provide the basis for better design.
This book brings together and coherently presents the current state of the art in asset management research and practice in Europe from a life cycle perspective. Each chapter focuses on specific parts of this life cycle and explains how the methods and techniques described are connected and how they improve the asset life cycle, thus treating this important subject from a unique perspective.
Purpose
Due to its impact on business performance total quality management (TQM) has gained a lot of importance by businessmen, managers, practitioners, and research scholars over the last 20 years. Therefore, the purpose of this paper is to critically assess the literature on TQM and find out the areas where future research is required.
Design/methodology/approach
To achieve this purpose the articles published in the last 20 years were studied in a systematic way and a snapshot of the same was prepared in the tabular format with points such as year and journal of publication, application and country, statistical method used, and findings of the study such as practices and impact of TQM. After identifying the practices and impact of TQM a quality tool “Pareto Analysis” was applied on them for development of the model.
Findings
The findings provide the practices of TQM and its impact on the performance of a business. The gaps from the literature have been identified and areas for future research have been suggested. On the basis of the findings a generalized framework of TQM has been suggested which can be applicable irrespective of the sector.
Practical implications
The research will help academicians and future researchers to have a clear understanding of TQM in different rosters.
Originality/value
Ample literature is available on TQM but in the best knowledge of authors no study has taken place to integrate the reviews and findings of 102 research papers of the last two decades.
