Asset management decisions

Based on system thinking and data analysis

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

2 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 languageEnglish
Title of host publicationEngineering Asset Management
Subtitle of host publicationSystems, Professional Practices and Certification
PublisherSpringer
Pages1083-1093
ISBN (Electronic)978-3-319-09507-3
ISBN (Print)978-3-319-09506-6
DOIs
Publication statusPublished - 30 Nov 2014
MoE publication typeA4 Article in a conference publication
Event8th 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 20131 Nov 2013
Conference number: 8

Publication series

NameLecture Notes in Mechanical Engineering LNME
PublisherSpringer
Volume19
ISSN (Print)2195-4356

Conference

Conference8th World Congress on Engineering Asset Management, WCEAM 2013 and the 3rd International Conference on Utility Management and Safety, ICUMAS
Abbreviated titleWCEAM 2013
CountryChina
CityHong Kong
Period30/10/131/11/13

Fingerprint

Assets
Systems thinking
Management decisions
Asset management
Maintenance management
Management system
Tacit knowledge
Information systems
Operational efficiency
Investment decision
Resource management
Investment opportunities
Enterprise information systems
Interrelationship

Keywords

  • asset management
  • maintenance
  • data analysis
  • event data
  • expert elicitation
  • CMMS
  • ERP

Cite this

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 (pp. 1083-1093). Springer. Lecture Notes in Mechanical Engineering, Vol.. 19 https://doi.org/10.1007/978-3-319-09507-3_92
Kortelainen, Helena ; Kunttu, Susanna ; Valkokari, Pasi ; Ahonen, Toni. / Asset management decisions : Based on system thinking and data analysis. Engineering Asset Management: Systems, Professional Practices and Certification. Springer, 2014. pp. 1083-1093 (Lecture Notes in Mechanical Engineering, Vol. 19).
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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; Ahonen, Toni.

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 proceedingConference article in proceedingsScientificpeer-review

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Kortelainen H, Kunttu S, Valkokari P, Ahonen T. Asset management decisions: Based on system thinking and data analysis. In Engineering Asset Management: Systems, Professional Practices and Certification. Springer. 2014. p. 1083-1093. (Lecture Notes in Mechanical Engineering, Vol. 19). https://doi.org/10.1007/978-3-319-09507-3_92