Managing physical assets is a cooperative and cross-functional discipline that demands a solid governance structure, strong leadership, and well-coordinated policies and practices to meet organizational objectives and requirements in the context of their operations. Organizations struggle to balance cost, performance, and risk with regard to the management of physical assets. Traditional physical asset management systems tend to be silo-based in that they have been developed by a particular section or function for use only in that function. The effects of the isolated function-specific asset management systems are widespread and have significant implications, creating gaps and overlaps in business processes or impeding the decision-making processes. Organizations are investing lots of money and resources in building their physical asset management systems. However, for far too long the focus has been mostly on the tools and methodologies. These companies need to step up and undergo a paradigm shift focused towards creating a system of organization-wide physical asset management, and moving away from the silo approach. This transformational process will provide: an improvement in coordination and collaboration. the ability to manage physical assets across the organization. an alignment of all functional areas within an organization to reach common goals. This book will benefit practitioners and students enrolled in asset management programs, and help to change the way they understand and implement an effective physical asset management system to a more organization-wide, systems approach.

Physical asset management is the management of fixed or non-current assets such as equipment and plant. Physical Asset Management presents a systematic approach to the management of these assets from concept to disposal. The general principles of physical asset management are discussed in a manner which makes them accessible to a wide audience, and covers all stages of the asset management process, including: initial business appraisal; identification of fixed asset needs; financial evaluation; logistic support analysis; life cycle costing; maintenance strategy; outsourcing; cost-benefit analysis; disposal; and renewal. Physical Asset Management addresses the needs of existing and potential asset managers, and provides an introduction to asset management for professionals in related disciplines, such as finance. The book provides both an introduction and a convenient reference work, covering all the main areas of physical asset management.

A holistic approach to managing physical assets has become a top priority for organizations both in the public and private sectors. For years to come considerable amount of funds is being committed to invest in physical assets and asset management practitioners are honing their skills to be part of the huge undertaking. But there is one key oversight: how will organizations cope with the implementation of a holistic physical asset management approach? In many organizations there exists a lack of collaboration and alignment to achieve organizational strategic goals. Why? Organizational silos, the very silos that must be major contributors for the successful implementation of the holistic physical asset management approach. Physical Asset Management -- An Organizational Challenge explores how the physical asset management philosophy fits within an organization, details the challenges it faces, and reviews the different functional areas dealing with physical assets. Existing gaps and overlaps are uncovered, exposing those that hinder collaboration and alignment. Written with asset management practitioners in mind, as well as everyone involved with physical assets, Physical Asset Management-An Organizational Challenge and its case studies will aid organizations to be better prepared when they embark on the journey of holistic physical asset management.

It is critical to improve the asset management system implementation as well as economics and industrial decision making to ensure that a business may move smoothly internally. Maintenance management should be aligned to the activities of maintenance in accordance with key business strategies, which must be designed under the comprehensive approach of an asset management process. After transforming the priorities of the business into priorities of maintenance, maintenance managers will use their medium-team strategies to tackle potential weaknesses in the maintenance of the equipment in accordance with these objectives. Cases on Optimizing the Asset Management Process explains and summarizes the processes and the reference frame necessary for the implementation of the Maintenance Management Model (MMM). This book acts as an overview of the current state of the art in asset management, providing innovative tools and practices from the fourth industrial revolution. Presenting topics like criticality analysis, physical asset maintenance, and unified modelling language, this text is essential for industrial and manufacturing engineers, plant supervisors, academicians, researchers, advanced-level students, technology developers, and managers who make decisions in this field.

Aims to encourage transportation agencies to address strategic questions as they confront the task of managing the surface transportation system. Drawn form both national and international knowledge and experience, it provides guidance to State Department of Transportation (DOT) decision makers, as well as county and municipal transportation agencies, to assist them in realizing the most from financial resources now and into the future, preserving highway assets, and providing the service expected by customers. Divided into two parts, Part one focuses on leadership and goal and objective setintg, while Part two is more technically oriented. Appendices include work sheets and case studies.

Considering maintenance from a proactive, rather than reactive, perspective, Maintenance Excellence details the strategies, tools, and solutions for maximizing the productivity of physical assets—focusing on profitability potential. The editors address contemporary concerns, key terms, data requirements, critical methodologies, and essential mathematical needs. They present maintenance in a business context, review planning, measurement, feedback, and techniques related to cost, efficiency, and results, and summarize applications of tools and software from statistics and neural networks to cost-optimized models.