Integrated strategic asset management: frameworks and dimensions
Laue, M, Brown, K, Scherrer, P & Keast, RL 2012, 'Integrated strategic asset management: frameworks and dimensions', paper presented to Third International Engineering Systems Symposium CESUN 2012, Delft, Netherlands, 18-20 June.
In this paper we build on the conceptualisation that asset management is embedded in organisations through the a) temporal, b) organisational, and c) spatial dimensions as suggested by Amadi- Enchendu et al. (2007) to characterise asset management in a comprehensive way. Our research question examines how an integrated approach to asset management might consider the whole range of interrelations and interactions of these dimensions. It is argued asset management should address the operational management of the asset as well as the strategic management of the asset (time dimension). It should take the overall organisational management, the technology and information management, and the human factors management into account (organisational dimension). In addition the inclusion of the different management topics which arise from the interaction between the asset and stakeholders and clients, ecological environment, industrial sector, and the government is critical (spatial dimension). We argue that a strategic standpoint for asset management establishes a framework that includes governance, policy, tactical and operational aspects that are brought into a comprehensive integrated approach. Prior research and frameworks have identified the various elements that need to be considered, however, these models have not addressed how to operationalise the various levels and have neglected governance and broader contextual factors in building an asset management model. The research considers the provision of a coherent framework as a possible alternative to start to develop integrated asset management from a strategic point of view. Based on our integrated asset management approach we present a possible approach to developing a capability maturity model which addresses all three outlined dimensions. For the development of such a capability maturity model it is necessary to define asset management process areas, capability and maturity levels, and capability and maturity indicators for each process area.