Asset Management decision support tools: A conceptual approach for managing their performance

Student thesis: Doctoral ThesisPhD

Abstract

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.
Date of Award24 Jul 2018
LanguageEnglish
Awarding Institution
  • University of Bath
SponsorsEngineering and Physical Sciences Research Council & National Grid
SupervisorLinda Newnes (Supervisor), Marcelle McManus (Supervisor) & Derrick Dunkley (Supervisor)

Keywords

  • asset management, decision support tools, infrastructure

Cite this

Asset Management decision support tools: A conceptual approach for managing their performance
Lattanzio, S. (Author). 24 Jul 2018

Student thesis: Doctoral ThesisPhD