Managing Engineered Assets: Principles and Practical Concepts

✍ Scribed by Joe E. Amadi-Echendu

• Publisher: Springer
• Year: 2021
• Tongue: English
• Leaves: 141
• Category: Library

✦ Synopsis

This textbook deals with engineering, science, technical, legal, financial, ICT, logistics and people management topics necessary for managing engineered assets such as all man-made tools, gadgets, buildings, equipment, machines, infrastructure, large-scale physical and industrial facilities and systems which pervade all sectors of industry. By coalescing concepts, principles, practices, and practical issues from the relevant multi-disciplines, the book addresses the body of knowledge required for managing engineered assets in the 4IR and Society 5.0 era and beyond.

The book is written for:

• Scholars and students who intend to strengthen or acquire knowledge about the concepts, principles, and practice of managing engineered assets;
• Managers of engineered assets in both the public and private sectors who aim to improve asset management practice for their organisational purposes and missions;
• Policymakers and regulators in order to improve policymaking, governance, assessment and evaluation frameworks on the management of engineered assets;
• The broader audience concerned about the sustainable management of engineered assets that constitute our built environment and provide the means for industry and livelihood.

✦ Table of Contents

Foreword by Georges Abdul-Nour
Foreword by Adolfo Crespo Márquez
Foreword by Belle R. Upadhyaya
Preface
Contents
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About the Author
1 Definitions and Scope
Abstract
1.1 EAM in the Era of Society 5.0 and 4IR
1.2 EAM is a Grand Challenge for Sustainable Development
1.3 EAM Historical Antecedents
1.3.1 Terotechnology
1.3.2 Safety and Legislative Antecedents
1.3.3 Other Antecedents
1.4 Asset Definitions
1.4.1 What is an Asset?
1.4.2 Asset Categories and Types
1.4.3 Discrete Assets, Asset Systems, Cyber Physical and Socio-Technological Systems
1.5 Definitions of Asset Management
1.6 Summary of the Chapter
1.7 Exercises
References and Additional Reading
2 Value and Sustainability
Abstract
2.1 Value
2.2 Investment
2.3 Valuation
2.4 Value and Valuation
2.5 Sustainability
2.5.1 Socio-Economic and Ecological Sustainability
2.5.2 Sustainability and Asset Management
2.6 Summary of the Chapter
2.7 Exercises
References and Additional Reading
3 Technical Principles
Abstract
3.1 Uncertainty
3.2 Risk
3.3 Reliability
3.4 Asset Integrity
3.5 Vulnerability
3.6 Resilience
3.7 Asset Condition
3.8 Summary
3.9 Exercises
References and Additional Reading
4 Practical Concepts
Abstract
4.1 Planning, Organising and Scheduling
4.1.1 Planning
4.1.2 Organising
4.1.3 Scheduling
4.2 Team and Teaming
4.2.1 Team
4.2.2 Teaming
4.3 Due Diligence
4.4 Decision Making
4.5 Summary
4.6 Exercises
References and Additional Reading
5 Engineering Asset Management Framework
Abstract
5.1 Business Cycles, Natural Cycles and Asset Life Phases/Stages
5.1.1 Business and Natural Cycles
5.1.2 The “Lifecycle” Argument
5.1.3 Asset Life Phases and Stages
5.1.4 Perceptions of Asset Life
5.2 Influence of Preceding Decisions on Asset Life Phase/Stage
5.3 Asset Structure
5.3.1 Asset Hierarchy
5.3.2 Asset Register
5.3.3 Influence of 4IR Technologies
5.4 Asset Management Guidelines, Regulations and Standards
5.5 The Asset Management System
5.6 Asset Management Framework
5.6.1 People Manage Engineered Assets
5.6.2 Organisational Structure
5.6.3 Processes and Procedures
5.7 Summary of the Chapter
5.8 Exercises
References and Additional Reading
6 Asset Acquisition Stage
Abstract
6.1 Asset Acquisition Considerations
6.1.1 Funding and Financing Issues
6.1.2 Technology and Technological Issues
6.1.3 Environment and Ecology Issues
6.1.4 Socio-Economic and Socio-Political Considerations
6.2 Asset Acquisition Options I
6.2.1 Outright Ownership
6.2.2 Hire/Lease
6.3 Asset Acquisition Options II: Partnerships
6.3.1 Public-Private Partnerships
6.3.2 Servitisation
6.3.3 Dematerialisation
6.4 From Asset Acquisition to Utilisation: Operational Readiness
6.4.1 Asset Acquisition Phases
6.4.2 Operational Readiness
6.5 Summary of the Chapter
6.6 Exercises
References and Additional Reading
7 Asset Utilisation Stage
Abstract
7.1 Operational Readiness to Utilisation
7.1.1 Operating Philosophy
7.1.2 Operational Planning and Scheduling
7.2 Maintenance
7.2.1 Maintenance Philosophy
7.2.2 Maintenance Conventions
7.2.3 Maintenance Planning, Scheduling, and Execution
7.3 Condition Monitoring, Diagnostics and Prognostics
7.4 Condition and Performance Assessments
7.4.1 Asset Condition and Value
7.4.2 Condition Assessment Dimensions
7.4.3 Performance Assessment
7.4.4 Performance Reporting
7.5 Asset Management Decisions
7.6 Summary of the Chapter
7.7 Exercises
References and Additional Reading
8 Asset Retirement Stage
Abstract
8.1 Asset ‘End-of-Life’ Definitions
8.2 Asset ‘End-of-Life’ Considerations
8.3 Asset Retirement Options
8.3.1 Mothballing an Asset
8.3.2 Replace, Upgrade, Overhaul and Repair
8.3.3 Rebuild, Renew, Renovate, Revamp, Etc
8.3.4 Disposal and Divestment
8.4 Summary of the Chapter
8.5 Exercises
References and Additional Reading
9 SAMP & EAMBoK
Abstract
9.1 Engineering Asset Management Strategy and Policy
9.1.1 Asset Management Strategy
9.1.2 Strategic Asset Management Plan
9.2 Engineering Asset Management Body of Knowledge (EAMBoK) Issues
9.3 Summary of the Chapter
9.4 Exercises
References and Additional Reading