A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
An Approach to Value-Based Infrastructure Asset Management
Abstract Effective management of infrastructure assets requires intricate considerations with regards to safety, serviceability, reputation and cost. Additionally, infrastructure assets have different requirements from various stakeholders and have a longer service life. However, traditional asset management decisions focussed predominantly on cost and there is an inherent need to understand the value of an infrastructure asset to various stakeholders and to utilise this value to drive asset management decisions. In this chapter, a systematic approach to make value-based asset management decisions is proposed. The proposed process provides an efficient method to map the stakeholder’s requirements to the value provided by the asset. This map can then be used to assess the value and make effective decisions. The developed approach is demonstrated through a case study involving transportation tunnels. The essential consideration of value is expected to allow organisations in evaluating the balance between cost, risk and performance and thereby allowing better informed decisions.
An Approach to Value-Based Infrastructure Asset Management
Abstract Effective management of infrastructure assets requires intricate considerations with regards to safety, serviceability, reputation and cost. Additionally, infrastructure assets have different requirements from various stakeholders and have a longer service life. However, traditional asset management decisions focussed predominantly on cost and there is an inherent need to understand the value of an infrastructure asset to various stakeholders and to utilise this value to drive asset management decisions. In this chapter, a systematic approach to make value-based asset management decisions is proposed. The proposed process provides an efficient method to map the stakeholder’s requirements to the value provided by the asset. This map can then be used to assess the value and make effective decisions. The developed approach is demonstrated through a case study involving transportation tunnels. The essential consideration of value is expected to allow organisations in evaluating the balance between cost, risk and performance and thereby allowing better informed decisions.
An Approach to Value-Based Infrastructure Asset Management
Srinivasan, Rengarajan (author) / Parlikad, Ajith Kumar (author)
2019-06-30
16 pages
Article/Chapter (Book)
Electronic Resource
English
Infrastructure planning , Maintenance & inspection , Mathematical modelling Engineering , Quality Control, Reliability, Safety and Risk , Production , Computer-Aided Engineering (CAD, CAE) and Design , Manufacturing, Machines, Tools, Processes , Engineering Economics, Organization, Logistics, Marketing
Infrastructure Asset Management
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