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A statistical activity cost analysis of the relationship between physical and financial aspects of fixed assets

Colin, Andrew, Falta, Michael, Su, Steve, Turner, Lyle, Willett, Roger, & Wolff, Rodney (2006) A statistical activity cost analysis of the relationship between physical and financial aspects of fixed assets. In Matthew, Joseph, Ma, Lin, Tan, Andy, & Anderson, Deryk (Eds.) First World Congress on Engineering Asset Management (WCEAM), 11-14 July 2006, Gold Coast, Queensland, Australia.

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Abstract

In this paper, Statistical Activity Cost Analysis (SACA) is used to identify the interaction of mutually dependent physical and financial aspects of a fixed asset-like system configuration. The novelty of the approach is, having established a rational description of the uncertainty inherent in both domains, the analysis of their interaction. Little research to date has investigated the duality of engineering and accounting aspects, in a statistical setting. Our approach is conceptual rather than empirical. We use an illustrative 4-component model, a) to explain the concept of SACA by means of a software demonstration tool, b) to relate financial issues of cost to engineering asset capacity to perform specified tasks, and c) to demonstrate how to produce quantified measures of return and risk, both of which are relevant in areas of life-cycle analysis, budgeting and planning decision-making.

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ID Code: 6610
Item Type: Conference Paper
Keywords: Cost Accounting, Maintenance, Reliability, Risk and Risk Attribution, Statistical Activity Cost Analysis (SACA), Uncertainty
DOI: 10.1007/978-1-84628-814-2_43
ISBN: 9781846288142
Subjects: Australian and New Zealand Standard Research Classification > MATHEMATICAL SCIENCES (010000) > APPLIED MATHEMATICS (010200) > Operations Research (010206)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Copyright Owner: Copyright 2006 Springer
Copyright Statement: This is the author-version of the work. Conference proceedings published, by Springer Verlag, will be available via SpringerLink.
Deposited On: 20 Mar 2007
Last Modified: 29 Feb 2012 23:25

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