Optimal and dynamic asset management in infrastructure sector

Tiina Koppinen, Tony Rosqvist

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

1 Citation (Scopus)

Abstract

Road, rail, and water/sewerage networks are vital to the national economy. Reduction in public financing together with increasing use of networks, urge infrastructure managers to optimize their networks focusing on overall cost-effectiveness of their operations. Decision-making in asset management should be able to ensure long-term economic efficiency and optimal service levels. However, often decision-making in infrastructure management under uncertainty is far from optimal, reliable, and flexible. This is why a simplified asset management decision-making method was developed for the infrastructure sector. The method aims at assisting infrastructure managers in optimising the life cycle profiles of their assets through selection of an optimal maintenance, repair and rehabilitations project portfolio. The method applies the analytical hierarchy process and real option ideology. The developed systematic and easy-to-apply method fills the void between strategic and operative decision-making methods facilitating management of multiple investments at the local network management level.
Original languageEnglish
Title of host publicationProceedings
Subtitle of host publicationCME 25 Conference Construction Management and Economics : Past, Present and Future
PublisherTaylor & Francis
Number of pages11
ISBN (Print)978-0-4154-6059-0
Publication statusPublished - 2007
MoE publication typeA4 Article in a conference publication
EventCME 25 Conference construction management and economics : past, present and future - University of Reading, United Kingdom
Duration: 16 Jul 200718 Jul 2007

Conference

ConferenceCME 25 Conference construction management and economics : past, present and future
Abbreviated titleCME 25
CountryUnited Kingdom
CityUniversity of Reading
Period16/07/0718/07/07

Keywords

  • asset management
  • decision analysis
  • facilities management
  • infrastructure management
  • project appraisal

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  • Cite this

    Koppinen, T., & Rosqvist, T. (2007). Optimal and dynamic asset management in infrastructure sector. In Proceedings: CME 25 Conference Construction Management and Economics : Past, Present and Future Taylor & Francis.