Supporting Asset Management Decision-Making: New value creation perspective

Minna Räikkönen, Tero Välisalo, Daryna Shylina, Sara Tilabi

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

    1 Citation (Scopus)

    Abstract

    The current transition in value formation is forcing companies to seek new models and ways of operating and supporting their business and related investments. Therefore, the need for integrating the wider value perspective into the asset management and consequently, on asset management decision-making is increasing. Investments on engineered assets should be evaluated, selected and prioritized not only in terms of money but also with regard to sustainability, safety, quality, social acceptability and other typically intangible criteria. However, the evaluation of intangible and indirect impacts has rarely been included in the assessment up to now. This knowledge gap will be filled by this paper by proposing a preliminary framework for integrating wider value creation perspective into the asset management decision-making. It is aimed at decision-makers and intended to support decision-making on investments on engineered assets.
    Original languageEnglish
    Title of host publicationProceedings of the 10th World Congress on Engineering Asset Management (WCEAM 2015)
    PublisherSpringer
    Pages479-486
    ISBN (Electronic)978-3-319-27064-7
    ISBN (Print)978-3-319-27062-3
    DOIs
    Publication statusPublished - 26 Mar 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

    SeriesLecture Notes in Mechanical Engineering
    ISSN2195-4356

    Conference

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

    Fingerprint

    Asset management
    Decision making
    Sustainable development
    Industry

    Keywords

    • asset management
    • decision-making
    • asset
    • investment
    • value
    • value creation
    • evaluation
    • assessment

    Cite this

    Räikkönen, M., Välisalo, T., Shylina, D., & Tilabi, S. (2016). Supporting Asset Management Decision-Making: New value creation perspective. In Proceedings of the 10th World Congress on Engineering Asset Management (WCEAM 2015) (pp. 479-486). Springer. Lecture Notes in Mechanical Engineering https://doi.org/10.1007/978-3-319-27064-7_46
    Räikkönen, Minna ; Välisalo, Tero ; Shylina, Daryna ; Tilabi, Sara. / Supporting Asset Management Decision-Making : New value creation perspective. Proceedings of the 10th World Congress on Engineering Asset Management (WCEAM 2015). Springer, 2016. pp. 479-486 (Lecture Notes in Mechanical Engineering).
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    title = "Supporting Asset Management Decision-Making: New value creation perspective",
    abstract = "The current transition in value formation is forcing companies to seek new models and ways of operating and supporting their business and related investments. Therefore, the need for integrating the wider value perspective into the asset management and consequently, on asset management decision-making is increasing. Investments on engineered assets should be evaluated, selected and prioritized not only in terms of money but also with regard to sustainability, safety, quality, social acceptability and other typically intangible criteria. However, the evaluation of intangible and indirect impacts has rarely been included in the assessment up to now. This knowledge gap will be filled by this paper by proposing a preliminary framework for integrating wider value creation perspective into the asset management decision-making. It is aimed at decision-makers and intended to support decision-making on investments on engineered assets.",
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    author = "Minna R{\"a}ikk{\"o}nen and Tero V{\"a}lisalo and Daryna Shylina and Sara Tilabi",
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    Räikkönen, M, Välisalo, T, Shylina, D & Tilabi, S 2016, Supporting Asset Management Decision-Making: New value creation perspective. in Proceedings of the 10th World Congress on Engineering Asset Management (WCEAM 2015). Springer, Lecture Notes in Mechanical Engineering, pp. 479-486, 10th World Congress on Engineering Asset Management, WCEAM 2015, Tampere, Finland, 28/09/15. https://doi.org/10.1007/978-3-319-27064-7_46

    Supporting Asset Management Decision-Making : New value creation perspective. / Räikkönen, Minna; Välisalo, Tero; Shylina, Daryna; Tilabi, Sara.

    Proceedings of the 10th World Congress on Engineering Asset Management (WCEAM 2015). Springer, 2016. p. 479-486 (Lecture Notes in Mechanical Engineering).

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

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    Räikkönen M, Välisalo T, Shylina D, Tilabi S. Supporting Asset Management Decision-Making: New value creation perspective. In Proceedings of the 10th World Congress on Engineering Asset Management (WCEAM 2015). Springer. 2016. p. 479-486. (Lecture Notes in Mechanical Engineering). https://doi.org/10.1007/978-3-319-27064-7_46