A flexible asset maintenance decision-making process model

Sun, Yong, Fidge, Colin J., & Ma, Lin (2012) A flexible asset maintenance decision-making process model. In Amadi-Echendu, Joe, Brown, Kerry A., Willett, Roger, & Mathew, Joseph (Eds.) Asset Condition, Information Systems and Decision Models. Springer-Verlag, London, pp. 149-168.

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Abstract

Optimal Asset Maintenance decisions are imperative for efficient asset management. Decision Support Systems are often used to help asset managers make maintenance decisions, but high quality decision support must be based on sound decision-making principles. For long-lived assets, a successful Asset Maintenance decision-making process must effectively handle multiple time scales. For example, high-level strategic plans are normally made for periods of years, while daily operational decisions may need to be made within a space of mere minutes. When making strategic decisions, one usually has the luxury of time to explore alternatives, whereas routine operational decisions must often be made with no time for contemplation. In this paper, we present an innovative, flexible decision-making process model which distinguishes meta-level decision making, i.e., deciding how to make decisions, from the information gathering and analysis steps required to make the decisions themselves. The new model can accommodate various decision types. Three industrial case studies are given to demonstrate its applicability.

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ID Code: 56440
Item Type: Book Chapter
Keywords: Decision-making processes, Decision support systems, Asset management, Asset maintenance decisions
DOI: 10.1007/978-1-4471-2924-0_8
Subjects: Australian and New Zealand Standard Research Classification > ENGINEERING (090000) > CIVIL ENGINEERING (090500) > Infrastructure Engineering and Asset Management (090505)
Divisions: Current > Research Centres > CRC Integrated Engineering Asset Management (CIEAM)
Current > Schools > School of Electrical Engineering & Computer Science
Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering
Current > Institutes > Institute for Future Environments
Current > QUT Faculties and Divisions > Science & Engineering Faculty
Copyright Owner: Copyright 2012 Springer-Verlag London Limited
Deposited On: 16 Jan 2013 00:11
Last Modified: 14 Dec 2015 04:03

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