Abstract
In capital intensive industries and infrastructure sector
strategic decisions often deal with maximizing the value
of investment portfolio and aligning it with the
strategy. Production assets typically have long life
cycles and during the operating time numerous rebuilds,
replacements and expansion investments take place. All of
these decisions, together with the chosen maintenance
strategy, affect not only the length of functional and
technological life but also the length of economic life
of assets. In order to optimize the investment decisions
and the economic life of production assets, companies
need to create an asset management strategy, which should
be based on constructed and systematic decision-making at
all the levels of the corporate hierarchy.
In this paper we propose a practical techno-economic
approach and evaluation application which aims at to
fulfill the gap between theoretical approaches and
companies' needs to make deliberated investment decisions
in turbulent business environment
| Original language | English |
|---|---|
| Title of host publication | EuroMaintenance 2014 Congress Proceedings |
| Publisher | European Federation of National Maintenance Societies (EFMNS) |
| Pages | 166-171 |
| ISBN (Print) | 978-952-67981-1-0 |
| Publication status | Published - 2014 |
| MoE publication type | A4 Article in a conference publication |
| Event | 22nd European Congress and Expo on Maintenance and Asset Management: 6th World Congress & Global Forum on Maintenance and Asset Management - Helsinki, Finland Duration: 5 May 2014 → 7 May 2014 Conference number: 22 |
Conference
| Conference | 22nd European Congress and Expo on Maintenance and Asset Management |
|---|---|
| Abbreviated title | EuroMaintenance 2014 |
| Country/Territory | Finland |
| City | Helsinki |
| Period | 5/05/14 → 7/05/14 |
Keywords
- Investment portfolio
- asset management
- uncertainty
- decision making