Supporting strategic asset management in complex and uncertain decision contexts: Dissertation

    Research output: ThesisDissertationCollection of Articles

    Abstract

    Strategic asset management can be defined as strategic-level coordinated activity of an organization to realize value from assets. Strategic asset management decisions are often uncertain and complex. Uncertainty refers to the state of deficiency of information related to an event, its consequences, or its likelihood. Complex systems have a history, are evolving and involve large numbers of interacting elements, where minor changes may have major consequences. The complexity and uncertainty of strategic asset management stems from factors such as long lifetimes of assets, imperfect information on which the decisions are based, multiple stakeholders with possibly conflicting needs and requirements, various system hierarchical levels, complex technologies, information systems and organizational structures, and varying asset types and life cycles. In addition, strategic asset management is influenced by many emerging trends and perspectives such as regulation and legislation, sustainability, circular economy and climate change, enabling technologies, ecosystem, business models, risk management, robustness and flexibility, and life cycle information management. To manage the uncertainty and complexity related to strategic asset management, there is a need for methods supporting strategic asset management in complex and uncertain decision contexts.

    The main research question of this dissertation is “how to manage assets in complex and uncertain decision contexts with strategic decision support methods”. To answer this question, the research provides a holistic view of the emerging trends and perspectives affecting strategic asset management. Furthermore, existing methods are identified and classified, and novel methods are developed and tested for supporting strategic asset management under complex and uncertain decision contexts. The key concepts related to asset management, emerging trends and perspectives, and existing decision support methods are explored. Three novel methods are developed and tested using design science research as a research strategy. Qualitative data collection and analysis methods are utilized.

    The main contributions of this dissertation are: 1) a novel classification of emerging trends and perspectives in strategic asset management 2) advancing the classification of methods supporting strategic asset management in complex and uncertain decision contexts, and 3) developing and testing novel methods for supporting asset management decisions in complex and uncertain decision contexts.
    Original languageEnglish
    QualificationDoctor Degree
    Awarding Institution
    • Lappeenranta-Lahti University of Technology LUT
    Supervisors/Advisors
    • Ojanen, Ville, Supervisor, External person
    • Kärri, Timo, Supervisor, External person
    • Kässi, Tuomo, Supervisor, External person
    Award date25 Oct 2019
    Publisher
    Print ISBNs978-952-335-396-1
    Electronic ISBNs978-952-335-397-8
    Publication statusPublished - 25 Oct 2019
    MoE publication typeG5 Doctoral dissertation (article)

    Fingerprint

    Strategic assets
    Asset management
    Assets
    Uncertainty
    Management decisions
    Decision support
    Life cycle
    Data collection
    Strategic decisions
    Complex systems
    Organizational structure
    Ecosystem
    Qualitative data
    Climate change
    Risk management
    Information management
    Sustainability
    Testing
    Information systems
    System structure

    Keywords

    • strategic asset management
    • Uncertainty
    • complexity
    • decision support
    • decision context
    • method
    • design science research

    Cite this

    @phdthesis{c4dcd8546e5b482982d86d60cd20ff36,
    title = "Supporting strategic asset management in complex and uncertain decision contexts: Dissertation",
    abstract = "Strategic asset management can be defined as strategic-level coordinated activity of an organization to realize value from assets. Strategic asset management decisions are often uncertain and complex. Uncertainty refers to the state of deficiency of information related to an event, its consequences, or its likelihood. Complex systems have a history, are evolving and involve large numbers of interacting elements, where minor changes may have major consequences. The complexity and uncertainty of strategic asset management stems from factors such as long lifetimes of assets, imperfect information on which the decisions are based, multiple stakeholders with possibly conflicting needs and requirements, various system hierarchical levels, complex technologies, information systems and organizational structures, and varying asset types and life cycles. In addition, strategic asset management is influenced by many emerging trends and perspectives such as regulation and legislation, sustainability, circular economy and climate change, enabling technologies, ecosystem, business models, risk management, robustness and flexibility, and life cycle information management. To manage the uncertainty and complexity related to strategic asset management, there is a need for methods supporting strategic asset management in complex and uncertain decision contexts.The main research question of this dissertation is “how to manage assets in complex and uncertain decision contexts with strategic decision support methods”. To answer this question, the research provides a holistic view of the emerging trends and perspectives affecting strategic asset management. Furthermore, existing methods are identified and classified, and novel methods are developed and tested for supporting strategic asset management under complex and uncertain decision contexts. The key concepts related to asset management, emerging trends and perspectives, and existing decision support methods are explored. Three novel methods are developed and tested using design science research as a research strategy. Qualitative data collection and analysis methods are utilized.The main contributions of this dissertation are: 1) a novel classification of emerging trends and perspectives in strategic asset management 2) advancing the classification of methods supporting strategic asset management in complex and uncertain decision contexts, and 3) developing and testing novel methods for supporting asset management decisions in complex and uncertain decision contexts.",
    keywords = "strategic asset management, Uncertainty, complexity, decision support, decision context, method, design science research",
    author = "Jyri Hanski",
    year = "2019",
    month = "10",
    day = "25",
    language = "English",
    isbn = "978-952-335-396-1",
    series = "Acta Universitatis Lappeenrantaensis",
    publisher = "Lappeenranta University of Technology",
    number = "863",
    address = "Finland",
    school = "Lappeenranta-Lahti University of Technology LUT",

    }

    Hanski, J 2019, 'Supporting strategic asset management in complex and uncertain decision contexts: Dissertation', Doctor Degree, Lappeenranta-Lahti University of Technology LUT.

    Supporting strategic asset management in complex and uncertain decision contexts : Dissertation. / Hanski, Jyri.

    Lappeenranta University of Technology, 2019. 97 p.

    Research output: ThesisDissertationCollection of Articles

    TY - THES

    T1 - Supporting strategic asset management in complex and uncertain decision contexts

    T2 - Dissertation

    AU - Hanski, Jyri

    PY - 2019/10/25

    Y1 - 2019/10/25

    N2 - Strategic asset management can be defined as strategic-level coordinated activity of an organization to realize value from assets. Strategic asset management decisions are often uncertain and complex. Uncertainty refers to the state of deficiency of information related to an event, its consequences, or its likelihood. Complex systems have a history, are evolving and involve large numbers of interacting elements, where minor changes may have major consequences. The complexity and uncertainty of strategic asset management stems from factors such as long lifetimes of assets, imperfect information on which the decisions are based, multiple stakeholders with possibly conflicting needs and requirements, various system hierarchical levels, complex technologies, information systems and organizational structures, and varying asset types and life cycles. In addition, strategic asset management is influenced by many emerging trends and perspectives such as regulation and legislation, sustainability, circular economy and climate change, enabling technologies, ecosystem, business models, risk management, robustness and flexibility, and life cycle information management. To manage the uncertainty and complexity related to strategic asset management, there is a need for methods supporting strategic asset management in complex and uncertain decision contexts.The main research question of this dissertation is “how to manage assets in complex and uncertain decision contexts with strategic decision support methods”. To answer this question, the research provides a holistic view of the emerging trends and perspectives affecting strategic asset management. Furthermore, existing methods are identified and classified, and novel methods are developed and tested for supporting strategic asset management under complex and uncertain decision contexts. The key concepts related to asset management, emerging trends and perspectives, and existing decision support methods are explored. Three novel methods are developed and tested using design science research as a research strategy. Qualitative data collection and analysis methods are utilized.The main contributions of this dissertation are: 1) a novel classification of emerging trends and perspectives in strategic asset management 2) advancing the classification of methods supporting strategic asset management in complex and uncertain decision contexts, and 3) developing and testing novel methods for supporting asset management decisions in complex and uncertain decision contexts.

    AB - Strategic asset management can be defined as strategic-level coordinated activity of an organization to realize value from assets. Strategic asset management decisions are often uncertain and complex. Uncertainty refers to the state of deficiency of information related to an event, its consequences, or its likelihood. Complex systems have a history, are evolving and involve large numbers of interacting elements, where minor changes may have major consequences. The complexity and uncertainty of strategic asset management stems from factors such as long lifetimes of assets, imperfect information on which the decisions are based, multiple stakeholders with possibly conflicting needs and requirements, various system hierarchical levels, complex technologies, information systems and organizational structures, and varying asset types and life cycles. In addition, strategic asset management is influenced by many emerging trends and perspectives such as regulation and legislation, sustainability, circular economy and climate change, enabling technologies, ecosystem, business models, risk management, robustness and flexibility, and life cycle information management. To manage the uncertainty and complexity related to strategic asset management, there is a need for methods supporting strategic asset management in complex and uncertain decision contexts.The main research question of this dissertation is “how to manage assets in complex and uncertain decision contexts with strategic decision support methods”. To answer this question, the research provides a holistic view of the emerging trends and perspectives affecting strategic asset management. Furthermore, existing methods are identified and classified, and novel methods are developed and tested for supporting strategic asset management under complex and uncertain decision contexts. The key concepts related to asset management, emerging trends and perspectives, and existing decision support methods are explored. Three novel methods are developed and tested using design science research as a research strategy. Qualitative data collection and analysis methods are utilized.The main contributions of this dissertation are: 1) a novel classification of emerging trends and perspectives in strategic asset management 2) advancing the classification of methods supporting strategic asset management in complex and uncertain decision contexts, and 3) developing and testing novel methods for supporting asset management decisions in complex and uncertain decision contexts.

    KW - strategic asset management

    KW - Uncertainty

    KW - complexity

    KW - decision support

    KW - decision context

    KW - method

    KW - design science research

    M3 - Dissertation

    SN - 978-952-335-396-1

    T3 - Acta Universitatis Lappeenrantaensis

    PB - Lappeenranta University of Technology

    ER -