An Asset Management Framework to Improve Longer Term Returns on Investments in the Capital Intensive Industries

2008 ◽  
pp. 418-432 ◽  
Author(s):  
Kari Komonen ◽  
Helena Kortelainen ◽  
Minna Räikkonen
Keyword(s):  
Asset Management ◽  
Management Framework ◽  
Capital Intensive

Asset Inspection Management System as a Reliable Inspection/ Monitoring Tool

2020 ◽  
Vol 78 (12) ◽  
pp. 1276-1285
Author(s):  
Shibu John A
Keyword(s):  
Asset Management ◽  
Management System ◽  
Balance Sheet ◽  
Integrity Assessment ◽  
Material Evaluation ◽  
The People ◽  
Physical Assets ◽  
Asset Management System ◽  
On Time Delivery ◽  
Capital Intensive

Enterprise asset management (EAM) systems are used by asset owners and/or operators to manage the maintenance of their physical assets. These assets, including equipment, facilities, vehicles, and infrastructure, need maintenance to sustain their operations. An EAM system provides the means to have less unplanned downtime and extended asset longevity, which offers clear business benefits that improve the profit and loss statement and balance sheet. Particularly for capital-intensive industries, like drilling and exploration, the failure of on-time delivery of critical equipment or processes is disruptive and costs nonproductive time and customer satisfaction. Organizations understand these issues and employ an appropriate asset management system to engineer their asset maintenance and management. An EAM system is needed to manage the people, assets/equipment, and processes. EAMs are used to plan, optimize, execute, and track the needed maintenance activities with associated priorities, skills, materials, tools, and information. Similarly, nondestructive testing (NDT) is used as a tool for integrity assessment of assets in drilling and exploration. The main advantage of using NDT is that the item’s intended use or serviceability is not affected. The selection of a specific technique should be based on knowledge and skills that include design, material processing, and material evaluation. Validating the purpose of this paper, we emphasize the importance of optimizing the asset utilization and serviceability to enhance overall efficiency by integrating EAM software that manages assets, the operation management system (OMS) controlling the processes, and asset inspection management systems (AIMSs).

scholarly journals The Importance of Data: Developing Smart Asset Management Framework in IoT Era

2020 ◽  
Vol 1 (1) ◽  
pp. 21
Author(s):  
Marga Gumelar*
Keyword(s):  
Information Technology ◽  
Asset Management ◽  
Inventory System ◽  
Fiscal Year ◽  
Technology Infrastructure ◽  
Management Framework ◽  
Current Asset ◽  
Long Time ◽  
The Republic ◽  
Asset Inventory

Municipal assets become hard problems that lasted a long time. In the fiscal year 2015, from total asset amount of   Rp 2,048.88 trillion, the Audit Board of the Republic of Indonesia found some problems on the audit of the local government financial report that 1,010 issues were related to asset registration. There were also 48 problems related to unknown assets and potential losses of Rp 289,281.23 million. This paper aims to develop municipal asset management framework by focusing on asset inventory system through the application of information technology. A case study is presented based on the findings of the Audit Board of the Republic of Indonesia. The result is a practical asset inventory system framework   to   improve   current   asset   inventory  performance.   The   use   of information technology can support the improvement of municipal asset management. But the tools are not enough without collaboration with employees. Since some regions in Indonesia inadequately have information technology infrastructure facilities, such as internet access and electricity network, this framework has obvious limitation.

scholarly journals Towards an Australian social housing best practice asset management framework

2021 ◽  
Author(s):  
Andrea Sharam ◽  
Sean McNelis ◽  
Hyunbum Cho ◽  
Callum Logan ◽  
Terry Burke ◽  
...  
Keyword(s):  
Asset Management ◽  
Social Housing ◽  
Best Practice ◽  
Management Framework ◽  
Practice Framework ◽  
Am Processes

This research examines social housing asset management (AM) in Australia and develops a best practice framework that outlines AM processes and criteria for making decisions.

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