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"Asset management"
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Leveraging Digital Asset Management and Meta-Data Integration for Enhanced Asset Management
by
Alkhard, Ahmed
in
Digital asset management
,
Digital Asset Management (DAM), Metadata integration, Asset Information Model (AIM), Effective metadata management, Asset management practices
,
Metadata
2024
Digital Asset Management (DAM) has emerged as an advanced approach to empower asset managers in controlling and optimizing asset operations. This study addresses the challenge of integrating metadata from a repository of 2340 reported asset problems at one of the public schools in Saudi Arabia over 2 years. The data, obtained in .xls format from the existing asset/facility information management system, was meticulously unified to visualize digital assets enriched with relevant data. Findings showed, among others, repeated data/records, incomplete/inaccurate data, language issues, lack of time reporting a problem, absence of status reports, and confusion between asset and facilities data. The primary aim is to explore the integration of this metadata into an Asset Information Model (AIM) for more efficient asset management. The proposed integrated strategy for supporting metadata in AIM analysis emphasizes effective metadata management. By defining metadata requirements, establishing robust standards, implementing efficient capture and storage processes, seamlessly integrating metadata into the AIM model, establishing governance procedures, leveraging metadata in analysis, and continuously monitoring and optimizing the strategy, organizations enhance the accuracy, consistency, and integrity of AIM analysis. This comprehensive approach fosters improved decision-making in asset and facility management, leading to enhanced overall efficiency. Successful implementation and further research on this strategy contribute to AIM analysis advancement and metadata utilization optimization, elevating asset management practices in the evolving construction and infrastructure industry. This research provides valuable insights into digital asset management and presents a compelling blueprint for leveraging metadata integration for effective asset management strategies.
Journal Article
Exploring applicability, interoperability and integrability of Blockchain-based digital twins for asset life cycle management
by
Christopher Santi Götz
,
Ibrahim Yitmen
,
Karlsson, Patrik
in
Asset management
,
Automation
,
Availability
2022
Purpose>The blockchain-based digital twin has been recognized as a prominent technological ecosystem featuring synergies with both established and emergent information management practice. The purpose of this research is to explore the applicability, interoperability and integrability of a blockchain-based digital twin for asset life cycle management and develop a model of framework which positions the digital twin within a broader context of current management practice and technological availability.Design/methodology/approach>A systematic literature review was performed to map use cases of digital twin, IoT, blockchain and smart contract technologies. Surveys of industry professionals and analyses were conducted focussing on the mapped use cases' life cycle–centric applicability, interoperability and integrability with current asset life cycle management practice, exploring decision support capabilities and industry insights. Lastly, a model of framework was developed based on the use case, interoperability and integrability findings.Findings>The results support approaching digitization initiatives with blockchain-based digital twins and the positioning of the concept as both a strategic tool and a multifunctional on-field support application. Integrability enablers include progression towards BIM level 3, decentralized program hubs, modular cross-technological platform interfaces, as well as mergeable and scalable blockchains.Practical implications>Knowledge of use cases help highlight the functionality of an integrated technological ecosystem and its connection to comprehensive sets of asset life cycle management aspects. Exploring integrability enablers contribute to the development of management practice and solution development as user expectations and technological prerequisites are interlinked.Originality/value>The research explores asset life cycle management use cases, interoperability and integrability enablers of blockchain-based digital twins and positions the technological ecosystem within current practice and technological availability.
Journal Article
Circular economy practices in SMEs: aligning model of green economic incentives and environmental commitment
by
Hariyanti, Ni Kadek Dessy
,
Bondar, Viktoriia
,
Polishchuk, Natalіia
in
Asset management
,
Circular economy
,
Climate change
2024
PurposeThe present study aims to examine the relationship between green economic incentives (GEIs) and environmental commitment (EC) as drivers of the circular economy (CE) practices in small and medium enterprises (SMEs).Design/methodology/approachA cross-sectional study of 594 assistant managers and SME managers was used while data were analyzed through Smart PLS.FindingsThe results showed that GEIs positively affect the SMEs' EC and the CE practice model. Furthermore, EC is the mediator between GEIs and the three CE practices: internal environmental management, eco-design and corporate asset management and recovery (CAM&R).Practical implicationsThe present study provided a basis for understanding the relevance of SMEs' CE practices and designing a strategic plan for its implementation. Also, it provides insight into that collaboration between triple helix (the government, SMEs and the community) is needed in increasing environmental awareness toward sustainability.Originality/valueThis study enhanced the natural resource-based view (NRBV), describing the mechanisms that view GEIs and EC as pollution prevention in CE practice.
Journal Article
Climate Adaptation Measures for Enhancing Urban Resilience
by
Rezvani, Seyed
,
de Almeida, Nuno
,
Falcão, Maria
in
Adaptation
,
Analysis
,
Analytic hierarchy process
2023
Climate change threatens urban areas globally. Enhancing resilience is crucial, yet the comprehensive clustering of practical climate adaptation measures for use in construction industry decision-making is notably absent. This study investigates and categorizes various climate adaptation measures, justifying each through a lens of risk management, asset management, and previous scientific work. It takes advantage of the innovative digital platform Netobra, which offers an ecosystem for the construction industry, to provide real-world, practical implications of these measures. Informed by the Urban Resilience Evaluation System, ISO 31000 (risk management), and ISO 55000 (asset management), the study sets out to demonstrate the value of these measures in bolstering urban resilience and improving decision-making in the construction industry. Moreover, the study integrates a hotspot detection mechanism for areas at high risk of climate impacts, using multicriteria decision analysis (MCDA)—analytic hierarchy process (AHP) mapping on Netobra. These identified hotspots and corresponding climate adaptation measures will further be incorporated into a Risk-Informed Asset-Centric (RIACT) process, providing valuable insights for climate change mitigation and adaptation strategies in urban development. Through its in-depth analysis, the study aims to contribute to the understanding of how diverse climate adaptation measures can be practically applied in various sectors, thereby enhancing urban resilience and effective risk and asset management.
Journal Article
A Systematic Review of the Extent to Which BIM Is Integrated into Operation and Maintenance
by
Abideen, Dania K.
,
Yunusa-Kaltungo, Akilu
,
Manu, Patrick
in
Asset management
,
Bibliometrics
,
Building information modeling
2022
Although a considerable amount of research has addressed the use of building information modelling (BIM) in facilities management (FM) within the past years, there is limited systematic review on investigating the potentials of BIM within the operation and maintenance (O&M) life cycle phase. Yet, this phase could account for approximately 60% of the total life cycle costs of assets. The purpose of this paper is to conduct a systematic literature review on the application of BIM in the O&M phase to identify current research trends, research gaps and future directions. This study achieves the aforementioned purpose by adopting the preferred reporting items for systematic review and meta-analysis protocols (PRISMA-P). It employs qualitative and quantitative techniques to analyse the articles from a combination of three multi-disciplinary research databases, namely—Scopus, Web of Science and Engineering Village, which also comprises Compendex, InSpec, GeoRef and GeoBase sub-databases. After an in-depth review of 196 selected journal articles, this study systemically presents: (1) bibliometric analyses of the literature in BIM and O (2) research patterns and trends; (3) drivers and barriers to BIM–O&M integration; and (4) research gaps mapped into a standard project management lifecycle to guide future research directions. The content analysis reveals that BIM has mainly been integrated under seven functions: information management (IM), advanced technology (AT), maintenance and asset management (MAM), indoor management (IM), performance assessment (PA), visualisation (V), and lean management (LM). Findings of the study reveal that the UK, USA and China are the top ranked countries with regards to research outputs on BIM–O&M integrations. The majority of BIM integrations within O&M falls under the information management function, whereas the least research output was recorded under lean management. In addition, the majority of studies focused on institutional and infrastructure facility types, but residential, industrial and commercial buildings were underrepresented, despite their disproportionate physical dominance within most societies. Findings also show that potential drivers and barriers for BIM integrations within O&M can be classified into three main categories—technical, organisational, and legal/contractual. It is then concluded that the application of BIM within O&M is still emerging, which further emphasises the need for more studies that address value realization in the context of BIM in O&M, with particular focus on the specific O&M principles for different building types.
Journal Article