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Optimum Decision Making in Asset Management

Book Description

Asset management is becoming increasingly important to an organization’s strategy, given its effects on cost, production, and quality. No matter the sector, important decisions are made based on techniques and theories that are thought to optimize results; asset management models and techniques could help maximize effectiveness while reducing risk. Optimum Decision Making in Asset Management posits that effective decision making can be augmented by asset management based on mathematical techniques and models. Resolving the problems associated with minimizing uncertainty, this publication outlines a myriad of methodologies, procedures, case studies, and management tools that can help any organization achieve world-class maintenance. This book is ideal for managers, manufacturing engineers, programmers, academics, and advanced management students.

Table of Contents

  1. Cover
  2. Title Page
  3. Copyright Page
  4. Book Series
    1. Mission
    2. Coverage
  5. Dedication
  6. Editorial Advisory Board and List of Reviewers
    1. Editorial Advisory Board
    2. List of Reviewers
  7. Foreword
  8. Preface
    1. OVERVIEW
    2. SUMMARY OF TOPICS
    3. TARGET AUDIENCE
    4. IMPORTANCE OF EACH CHAPTER
    5. CONCLUSION
  9. Section 1
    1. Chapter 1: Case Study on a Maintenance and Reliability Management Model Proposal
      1. ABSTRACT
      2. 1. MAINTENANCE MANAGEMENT MODEL PROPOSED FOR THE PROJECT: THIRD SET OF LOCKS IN THE ACP (AUTORIDAD DEL CANAL DE PANAMÁ)
      3. 2. IMPLEMENTATION PROCESS OF THE RELIABILITY CENTERED MAINTENANCE (RCM) IN THE PROJECT: THIRD SET OF LOCKS IN THE ACP (AUTORIDAD DEL CANAL DE PANAMÁ)
      4. 3. KPIs (KEY PERFOMANCE INDICATORS) FOR MAINTENANCE MANAGEMENT
      5. 4. GENERAL RECOMMENDATIONS FOR MAINTENANCE AND RELIABILITY MANAGEMENT
      6. REFERENCES
    2. Chapter 2: Multicriteria Model for the Selection of Maintenance Policies in Subsystems of an Operating Theatre
      1. ABSTRACT
      2. INTRODUCTION
      3. BACKGROUND
      4. MACBETH INTRODUCTION
      5. MARKOV CHAINS FOR REPAIRABLE SYSTEMS
      6. MULTICRITERIA MODEL FOR THE SELECTION OF MAINTENANCE POLICIES IN OPERATING THEATRE SUBSYSTEMS
      7. RESULTS
      8. SENSITIVITY ANALYSIS
      9. FUTURE RESEARCH DIRECTIONS
      10. CONCLUSION
      11. ACKNOWLEDGMENT
      12. REFERENCES
      13. ADDITIONAL READING
      14. KEY TERMS AND DEFINITIONS
      15. APPENDIX
    3. Chapter 3: Maintenance in Critical Infrastructures
      1. ABSTRACT
      2. INTRODUCTION
      3. METHODOLOGY
      4. CRITICAL INFRASTRUCTURE (CI)
      5. CRISIS IMPACTS AND RESILIENCE
      6. RESILIENCE-BUILDING POLICIES: THE IMPORTANCE OF MAINTENANCE
      7. PREVENTIVE AND CORRECTIVE MAINTENANCE
      8. REAL EXAMPLES OF IMPROPER CRITICAL INFRASTRUCTURE MAINTENANCE
      9. PUBLIC-PRIVATE PARTNERSHIP FOR CRITICAL INFRASTRUCTURE PROTECTION
      10. ORIGINS OF PPP
      11. WHY IS A PPP VALUABLE FOR IMPROVING THE EFFECTIVENESS OF CIP?
      12. STEPS FOR SETTING UP A PPP
      13. THREE PPP TYPES IN MAINTENANCE
      14. FUTURE RESEARCH LINES
      15. CONCLUSION
      16. REFERENCES
      17. KEY TERMS AND DEFINITIONS
    4. Chapter 4: Graphical Techniques and Methods
      1. ABSTRACT
      2. INTRODUCTION
      3. BACKGROUND AND PROBLEM STATEMENT
      4. CONCLUSION
      5. FUTURE RESEARCH DIRECTIONS
      6. REFERENCES
    5. Chapter 5: Impact of the Knowledge Management in Maintenance Engineering
      1. ABSTRACT
      2. INTRODUCTION
      3. THE PRINCIPLES OF KNOWLEDGE MANAGEMENT
      4. PROCESSES, DIMENSIONS, AND TOOLS IN KNOWLEDGE MANAGEMENT
      5. INDUSTRIAL MAINTENANCE AND THE KNOWLEDGE MANAGEMENT
      6. FACTORS IN THE MANAGEMENT OF KNOWLEDGE IN INDUSTRIAL MAINTENANCE
      7. CONCLUSION
      8. REFERENCES
      9. KEY TERMS AND DEFINITIONS
    6. Chapter 6: Asset Management for Buildings within the Framework of Building Information Modeling Development
      1. ABSTRACT
      2. INTRODUCTION
      3. BIM BACKGROUND
      4. ASSET MANAGEMENT FOR BUILDING AND FACILITIES
      5. CONCLUSION
      6. REFERENCES
    7. Chapter 7: Service 4.0
      1. ABSTRACT
      2. INTRODUCTION
      3. CASE STUDIES
      4. MANAGEMENT MODEL FOR THE AFTER-SALES MAINTENANCE SERVICE
      5. MATURITY LEVELS AND ROADMAP
      6. CONCLUSION
      7. REFERENCES
      8. KEY TERMS AND DEFINITIONS
      9. ENDNOTES
    8. Chapter 8: Compatibility Welding Parameters with the Results Obtained in Testing of Fracture Mechanics in HSLA Steel
      1. ABSTRACT
      2. BACKGROUND
      3. PURPOSE OF TEST
      4. PREPARATION OF THE SAMPLES PRIOR TO TESTING
      5. PRECRACKING BY FATIGUE
      6. METALLOGRAPHIC TEST
      7. EXPERIMENTAL STUDY OF FATIGUE CRACK.
      8. CONCLUSION
      9. REFERENCES
      10. KEY TERMS AND DEFINITIONS:
    9. Chapter 9: Model of a Performance Measurement System for Maintenance Management
      1. ABSTRACT
      2. INTRODUCTION
      3. SYSTEMS FOR MAINTENANCE MANAGEMENT INDICATORS
      4. PROPOSED MODEL: HIERARCHICAL-FUNCTIONAL MODEL OF A SYSTEM FOR MAINTENANCE MANAGEMENT INDICATORS
      5. CHAINS OF KEY PERFORMANCE INDICATORS FOR MAINTENANCE
      6. CONCLUSION
      7. REFERENCES
    10. Chapter 10: AI and Statistical Technologies for Manufacturing and Maintenance Strategies improvement
      1. ABSTRACT
      2. 1 INTRODUCTION
      3. 2 DATA ACQUISITION AND EXPERIMENTATION
      4. 3 HEALTH ASSESSMENT THROUGH VIBRATION AND DATA MINING ANALYSIS
      5. 4 EXPERIMENTAL RESULTS
      6. 5 CONCLUSION AND FUTURE WORK
      7. ACKNOWLEDGMENT
      8. REFERENCES
    11. Chapter 11: Sensor-Based Decision Making in Uncertain Context
      1. ABSTRACT
      2. INTRODUCTION
      3. INTEREST AND BACKGROUND ON MULTI SENSOR FUSION
      4. DECISION-MAKING METHODS
      5. COMPARATIVE ANALYSIS
      6. CONCLUSION
      7. REFERENCES
      8. KEY TERMS AND DEFINITIONS
  10. Section 2
    1. Chapter 12: Asset Life Cycle Plans
      1. ABSTRACT
      2. INTRODUCTION
      3. BACKGROUND ON ASSET MANAGEMENT
      4. LIFETIME IMPACTS
      5. WRITING AN ALCP: STEP-BY-STEP INSTRUCTIONS
      6. CONCLUSION
      7. DISCUSSION AND IMPLICATIONS
      8. IMPLICATIONS FOR PRACTITIONERS
      9. ACKNOWLEDGMENT
      10. REFERENCES
      11. KEY TERMS AND DEFINITIONS
      12. ENDNOTES
      13. APPENDIX 1
      14. APPENDIX 2
      15. APPENDIX 3
      16. APPENDIX 4
      17. APPENDIX 5
    2. Chapter 13: Towards Informed Maintenance Decision Making
      1. ABSTRACT
      2. INTRODUCTION
      3. BACKGROUND
      4. DIFFICULTIES IN APPLYING ADVANCED MAINTENANCE TECHNIQUES
      5. THE DESIGN OF COMPANY TYPOLOGIES
      6. THE ROUTES TOWARDS INFORMED MAINTENANCE DECISION MAKING
      7. CONCLUSION
      8. FUTURE RESEARCH DIRECTIONS
      9. ACKNOWLEDGMENT
      10. REFERENCES
      11. KEY TERMS AND DEFINITIONS
    3. Chapter 14: Information Supporting of Decision Making for Energy Management in District Heating
      1. ABSTRACT
      2. INTRODUCTION
      3. REALIZATION OF ENERGY MANAGEMENT THROUGH THE IMPLEMENTATION OF ENERGY MANAGEMENT SYSTEM
      4. THE CURRENT STATE OF ENERGY MANAGEMENT IN DISTRICT HEATING
      5. THE HEAT DEMAND FORECASTING
      6. THE MAKING DECISIONS ON DISTRICT HEATING MANAGEMENT
      7. THE DECISION SUPPORT SYSTEM «HEATCAM» FOR HEAT ENERGY MANAGEMENT ON THE CONSUMER SIDE
      8. CONCLUSION
      9. REFERENСES
      10. KEY TERMS AND DEFINITIONS
    4. Chapter 15: Risks and Uncertainties in the Planning Phase of Offshore Wind Projects
      1. ABSTRACT
      2. INTRODUCTION
      3. THEORETICAL FRAMEWORK AND RESEARCH QUESTIONS
      4. RESEARCH QUESTIONS
      5. METHODOLOGY
      6. RESULTS
      7. DISCUSSION
      8. CONCLUSION
      9. REFERENCES
      10. KEY TERMS AND DEFINITIONS
    5. Chapter 16: The Set-Up Process
      1. ABSTRACT
      2. INTRODUCTION
      3. HISTORICAL DEVELOPMENT OF SET-UP PROCESS
      4. TYPOLOGY OF OPERATIONS IN THE SET-UP PROCESS
      5. TYPOLOGY OF SET-UP PROCESS
      6. THE METHODOLOGY FOR THE STUDY AND THE IMPROVEMENT OF SET-UP PROCESS
      7. THE TIME OF SET-UP PROCESS
      8. IMPROVEMENT OF SET-UP PROCESS
      9. CONTROL OF THE IMPROVEMENTS ACHIEVED
      10. CONCLUSION
      11. REFERENCES
    6. Chapter 17: Assets Management and Risk Control
      1. ABSTRACT
      2. INTRODUCTION
      3. ASSETS MANAGEMENT AND RISK CONTROL
      4. SOLUTIONS AND RECOMMENDATIONS
      5. FUTURE RESEARCH DIRECTIONS
      6. CONCLUSION
      7. REFERENCES
      8. KEY TERMS AND DEFINITIONS
    7. Chapter 18: Reliability Based Maintenance of Industrial Assets
      1. ABSTRACT
      2. INTRODUCTION
      3. INDUSTRIAL ASSET, MAINTENANCE, AND RELIABILITY
      4. RELIABILITY CENTERED MAINTENANCE
      5. RELIABILITY OF REPAIRABLE INDUSTRIAL ASSETS
      6. CASE STUDY OF RELIABILITY- BASED MAINTENANCE OF INDUSTRIAL ASSETS
      7. DISCUSSION AND FUTURE WORK
      8. CONCLUSION
      9. REFERENCES
      10. KEY TERMS AND DEFINITIONS
      11. APPENDIX
    8. Chapter 19: Burning Assets? Designing Wood Fuel Energy Strategies in Mozambique
      1. ABSTRACT
      2. INTRODUCTION
      3. STRATEGY DESIGN FOR WOOD FUEL ENERGY SYSTEMS: LINKING ASSETS, RESOURCES, ISSUES, THEORY AND INITIATIVES
      4. A NEW APPROACH: THE 2MBio EXPERIENCE
      5. CONCLUSION
      6. REFERENCES
    9. Chapter 20: No Fault Found Problems in Asset Management
      1. ABSTRACT
      2. INTRODUCTION
      3. THE CASE OF NO FAULT FOUND
      4. MANAGEMENT STRUCTURE FOR DECISION MAKING
      5. DISCUSSIONS
      6. MAPPING PROCESSES
      7. CONCLUSION
      8. REFERENCES
      9. ENDNOTES
  11. Compilation of References
  12. About the Contributors