By Telli van der Lei (auth.), Telli Van der Lei, Paulien Herder, Ype Wijnia (eds.)
In the prior many years asset in depth businesses have witnessed a few regulatory alterations and particularly is dealing with ever expanding competitiveness. to beat those demanding situations varied asset administration equipment were constructed aimed to enhance the asset lifestyles cycle. specially the layout section and operation and upkeep section have noticeable an increase in instruments and techniques. Smarter layout can result in better operation. Likewise, superior operation and upkeep ends up in decrease substitute expenditures and should give you the foundation for larger layout.
This booklet brings jointly and coherently provides the present cutting-edge in asset administration study and perform in Europe from a existence cycle point of view. each one bankruptcy makes a speciality of particular elements of this lifestyles cycle and explains how the tools and strategies defined are hooked up and the way they enhance the asset lifestyles cycle, therefore treating this crucial topic from a different perspective.
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Additional info for Asset Management: The State of the Art in Europe from a Life Cycle Perspective
This has obvious implications on a firm’s strategic assets having to serve a range of demands emanate from both primary and secondary stakeholders of the firm. Notably, this include for instance (also as shown in Fig. 2): • reduce uncertainties related to security of investments where not only explicit risks but also hidden and emergent risks are taken into consideration • take the highest level of responsibility towards all possible transactions involving the business as well as the organization and its partners • provide clear accountability towards products and services that a firm brings to the market • respect and comply with core requirements in the market segment, geographical sector, or the community, etc.
2), there is no standard terminology. The ISO standard on risk management (ISO, 2009) uses risk assessment as the bundling of Risk identification, Risk analysis and Risk evaluation, whereas the COSO framework (COSO, 2004) separates event identification from risk assessment (a bundling of risk analysis and risk evaluation). The steps are thus very similar, even though the terminology differs. Within this chapter, the ISO terminology is used. 2 Establishing the Context Infrastructure assets are special with regard to the context in which they operate.
Some claim the exposure can be quantified objectively, as if risks are out there to be measured. On the other hand, many risks to be assessed may have not been materialized yet (like the potential impact of climatic change on the infrastructure system) and quantification is based on models that are inherently assumption laden and thus subjective. Furthermore, there is ample evidence that risks are not always judged on the actual exposure (Slovic, 1987). A typical example with regard to infrastructures can be found in the acceptance of travel delays.