Decision making situations define data requirements in fleet asset management

Sini Kaisu Kinnunen, Salla Marttonen-Arola, Antti Ylä-Kujala, Timo Kärri, Toni Ahonen, Pasi Valkokari, David Baglee

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

4 Citations (Scopus)

Abstract

Large amounts of data are increasingly gathered in order to support decision making processes in asset management. The challenge is how best to utilise the large amounts of fragmented and unorganised data sets to benefit decision making, also at fleet level. It is therefore important to be able to utilize and combine all the relevant data, both technical and economic, to create new business knowledge to support effective decision making especially within diverse situations. It is also important to acknowledge that different types of data are required in different decision making context. A review of the literature has shown that decision making situations are usually categorized according to the decision making levels, namely strategic, tactical and operational. In addition, they can be classified according to the amount of time used in decision making. For example, two situations can be compared: (1) optimization decision where a large amount of time and consideration is used to determine an optimum solution, and (2) decisions that need to be made instantly. Fleet management of industrial assets suffers from a lack of asset management strategies in order to ensure the correct data is collected, analysed and used to inform critical business decisions with regard to fleet management. In this paper we categorize the decision making process within certain situation and propose a new framework to identify fleet decision making situations.

Original languageEnglish
Title of host publicationProceedings of the 10th World Congress on Engineering Asset Management (WCEAM 2015)
PublisherSpringer
Pages357-364
Number of pages8
DOIs
Publication statusPublished - 1 Jan 2016
MoE publication typeA4 Article in a conference publication
Event10th World Congress on Engineering Asset Management, WCEAM 2015 - Tampere Hall, Tampere, Finland
Duration: 28 Sep 201530 Sep 2015

Publication series

NameLecture Notes in Mechanical Engineering
VolumePartF4
ISSN (Print)2195-4356
ISSN (Electronic)2195-4364

Conference

Conference10th World Congress on Engineering Asset Management, WCEAM 2015
Abbreviated titleWCEAM 2015
CountryFinland
CityTampere
Period28/09/1530/09/15

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Asset management
Decision making
Industry
Economics

Cite this

Kinnunen, S. K., Marttonen-Arola, S., Ylä-Kujala, A., Kärri, T., Ahonen, T., Valkokari, P., & Baglee, D. (2016). Decision making situations define data requirements in fleet asset management. In Proceedings of the 10th World Congress on Engineering Asset Management (WCEAM 2015) (pp. 357-364). Springer. Lecture Notes in Mechanical Engineering, Vol.. PartF4 https://doi.org/10.1007/978-3-319-27064-7_33
Kinnunen, Sini Kaisu ; Marttonen-Arola, Salla ; Ylä-Kujala, Antti ; Kärri, Timo ; Ahonen, Toni ; Valkokari, Pasi ; Baglee, David. / Decision making situations define data requirements in fleet asset management. Proceedings of the 10th World Congress on Engineering Asset Management (WCEAM 2015). Springer, 2016. pp. 357-364 (Lecture Notes in Mechanical Engineering, Vol. PartF4).
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Kinnunen, SK, Marttonen-Arola, S, Ylä-Kujala, A, Kärri, T, Ahonen, T, Valkokari, P & Baglee, D 2016, Decision making situations define data requirements in fleet asset management. in Proceedings of the 10th World Congress on Engineering Asset Management (WCEAM 2015). Springer, Lecture Notes in Mechanical Engineering, vol. PartF4, pp. 357-364, 10th World Congress on Engineering Asset Management, WCEAM 2015, Tampere, Finland, 28/09/15. https://doi.org/10.1007/978-3-319-27064-7_33

Decision making situations define data requirements in fleet asset management. / Kinnunen, Sini Kaisu; Marttonen-Arola, Salla; Ylä-Kujala, Antti; Kärri, Timo; Ahonen, Toni; Valkokari, Pasi; Baglee, David.

Proceedings of the 10th World Congress on Engineering Asset Management (WCEAM 2015). Springer, 2016. p. 357-364 (Lecture Notes in Mechanical Engineering, Vol. PartF4).

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

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Kinnunen SK, Marttonen-Arola S, Ylä-Kujala A, Kärri T, Ahonen T, Valkokari P et al. Decision making situations define data requirements in fleet asset management. In Proceedings of the 10th World Congress on Engineering Asset Management (WCEAM 2015). Springer. 2016. p. 357-364. (Lecture Notes in Mechanical Engineering, Vol. PartF4). https://doi.org/10.1007/978-3-319-27064-7_33