Asset management decisions: Based on system thinking and data analysis

Helena Kortelainen; Susanna Kunttu; Pasi Valkokari; Toni Ahonen

doi:10.1007/978-3-319-09507-3_92

Asset management decisions: Based on system thinking and data analysis

Helena Kortelainen, Susanna Kunttu, Pasi Valkokari, Toni Ahonen

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific › peer-review

8 Citations (Scopus)

Abstract

Asset related data is collected in several information systems (e.g. enterprise resource management (ERP) and computerized maintenance management systems (CMMS) systems) at industrial plants. Information systems including asset related data are typically used for operational level decisions (e.g. creating maintenance work orders) but maintenance history data is also valuable when making asset management level decisions (e.g. investment decisions). Even there is a huge amount of stored data, tacit knowledge is needed for risk conscious asset decisions both for supplementing the data contained in IT-systems and for creating the understanding of the production system itself and its interrelationships. The paper describes how data collected from ERP and CMMS system can be utilized when improving operational efficiency and researching investment opportunities and evaluating investment options.

Original language	English
Title of host publication	Engineering Asset Management
Subtitle of host publication	Systems, Professional Practices and Certification
Publisher	Springer
Pages	1083-1093
ISBN (Electronic)	978-3-319-09507-3
ISBN (Print)	978-3-319-09506-6
DOIs	https://doi.org/10.1007/978-3-319-09507-3_92
Publication status	Published - 30 Nov 2014
MoE publication type	A4 Article in a conference publication
Event	8th World Congress on Engineering Asset Management, WCEAM 2013 and the 3rd International Conference on Utility Management and Safety, ICUMAS - Hong Kong, China Duration: 30 Oct 2013 → 1 Nov 2013 Conference number: 8

Publication series

Series	Lecture Notes in Mechanical Engineering
Volume	19
ISSN	2195-4356

Conference

Conference	8th World Congress on Engineering Asset Management, WCEAM 2013 and the 3rd International Conference on Utility Management and Safety, ICUMAS
Abbreviated title	WCEAM 2013
Country/Territory	China
City	Hong Kong
Period	30/10/13 → 1/11/13

Keywords

asset management
maintenance
data analysis
event data
expert elicitation
CMMS
ERP

Access to Document

10.1007/978-3-319-09507-3_92

Cite this

@inproceedings{1b3e716a65d14151aae391601ec3794d,

title = "Asset management decisions: Based on system thinking and data analysis",

abstract = "Asset related data is collected in several information systems (e.g. enterprise resource management (ERP) and computerized maintenance management systems (CMMS) systems) at industrial plants. Information systems including asset related data are typically used for operational level decisions (e.g. creating maintenance work orders) but maintenance history data is also valuable when making asset management level decisions (e.g. investment decisions). Even there is a huge amount of stored data, tacit knowledge is needed for risk conscious asset decisions both for supplementing the data contained in IT-systems and for creating the understanding of the production system itself and its interrelationships. The paper describes how data collected from ERP and CMMS system can be utilized when improving operational efficiency and researching investment opportunities and evaluating investment options.",

keywords = "asset management, maintenance, data analysis, event data, expert elicitation, CMMS, ERP",

author = "Helena Kortelainen and Susanna Kunttu and Pasi Valkokari and Toni Ahonen",

year = "2014",

month = nov,

day = "30",

doi = "10.1007/978-3-319-09507-3_92",

language = "English",

isbn = "978-3-319-09506-6",

series = "Lecture Notes in Mechanical Engineering",

publisher = "Springer",

pages = "1083--1093",

booktitle = "Engineering Asset Management",

address = "Germany",

note = "8th World Congress on Engineering Asset Management, WCEAM 2013 and the 3rd International Conference on Utility Management and Safety, ICUMAS, WCEAM 2013 ; Conference date: 30-10-2013 Through 01-11-2013",

}

Kortelainen, H, Kunttu, S, Valkokari, P & Ahonen, T 2014, Asset management decisions: Based on system thinking and data analysis. in Engineering Asset Management: Systems, Professional Practices and Certification. Springer, Lecture Notes in Mechanical Engineering, vol. 19, pp. 1083-1093, 8th World Congress on Engineering Asset Management, WCEAM 2013 and the 3rd International Conference on Utility Management and Safety, ICUMAS, Hong Kong, China, 30/10/13. https://doi.org/10.1007/978-3-319-09507-3_92

Asset management decisions: Based on system thinking and data analysis. / Kortelainen, Helena; Kunttu, Susanna; Valkokari, Pasi et al.
Engineering Asset Management: Systems, Professional Practices and Certification. Springer, 2014. p. 1083-1093 (Lecture Notes in Mechanical Engineering, Vol. 19).

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific › peer-review

TY - GEN

T1 - Asset management decisions

T2 - 8th World Congress on Engineering Asset Management, WCEAM 2013 and the 3rd International Conference on Utility Management and Safety, ICUMAS

AU - Kortelainen, Helena

AU - Kunttu, Susanna

AU - Valkokari, Pasi

AU - Ahonen, Toni

N1 - Conference code: 8

PY - 2014/11/30

Y1 - 2014/11/30

N2 - Asset related data is collected in several information systems (e.g. enterprise resource management (ERP) and computerized maintenance management systems (CMMS) systems) at industrial plants. Information systems including asset related data are typically used for operational level decisions (e.g. creating maintenance work orders) but maintenance history data is also valuable when making asset management level decisions (e.g. investment decisions). Even there is a huge amount of stored data, tacit knowledge is needed for risk conscious asset decisions both for supplementing the data contained in IT-systems and for creating the understanding of the production system itself and its interrelationships. The paper describes how data collected from ERP and CMMS system can be utilized when improving operational efficiency and researching investment opportunities and evaluating investment options.

AB - Asset related data is collected in several information systems (e.g. enterprise resource management (ERP) and computerized maintenance management systems (CMMS) systems) at industrial plants. Information systems including asset related data are typically used for operational level decisions (e.g. creating maintenance work orders) but maintenance history data is also valuable when making asset management level decisions (e.g. investment decisions). Even there is a huge amount of stored data, tacit knowledge is needed for risk conscious asset decisions both for supplementing the data contained in IT-systems and for creating the understanding of the production system itself and its interrelationships. The paper describes how data collected from ERP and CMMS system can be utilized when improving operational efficiency and researching investment opportunities and evaluating investment options.

KW - asset management

KW - maintenance

KW - data analysis

KW - event data

KW - expert elicitation

KW - CMMS

KW - ERP

U2 - 10.1007/978-3-319-09507-3_92

DO - 10.1007/978-3-319-09507-3_92

M3 - Conference article in proceedings

SN - 978-3-319-09506-6

T3 - Lecture Notes in Mechanical Engineering

SP - 1083

EP - 1093

BT - Engineering Asset Management

PB - Springer

Y2 - 30 October 2013 through 1 November 2013

ER -

Asset management decisions: Based on system thinking and data analysis

Abstract

Publication series

Conference

Keywords

Access to Document

Fingerprint

Cite this