A NEW APPROACH IN IMMOVABLE ASSET MANAGEMENT USING 3D SPATIAL SPACE

Asset management is a rapidly growing practice in response to changes in urban development and becoming one of the important practices in Malaysia. As a result, the Malaysian government has raised awareness of asset management to manage and maintain government assets. Thus, the Malaysian government has established MySPATA, a fixed asset management system used by all government ministries to help agencies standardize, manage, and monitor fixed assets. The four asset management documents used in MySPATA are the Government Asset Management Policy (DPAK), Government Comprehensive Asset Management Manual (MPAM), Government Immovable Asset Management Procedures (TPATA), and Immovable Asset Management System. Asset management is concerned mainly with operating assets in Malaysia, including their management, monitoring, maintenance, and disposal. Government agencies are charged with supervising governments and enabling the delivery of public services. Thus, asset management policies and processes are critical for delivering and assisting in effective asset management. Asset management must be effective and efficient to ensure that the assets provided can be handled and utilized for the intended purpose. This study examines Malaysia’s current asset management practices and identifies the advantages and disadvantages of the current approach.

As new waves of innovation reshape asset management, the digitization of immovable asset data becomes crucial for the public sector. This paper explores how emerging trends in asset management impact data quality, focusing on the strategic roles of people, processes, and technology. Public sector organizations often struggle with fragmented operations and inconsistent data management practices in immovable assets leading to challenges in maintaining high-quality data. A survey was conducted among 303 asset managers and personnel involved in asset management to gain insights into practical challenges, assessing their understanding of immovable asset management and data quality issues. The research highlights the strategic role of people as change agents, who are essential in driving improvements in data governance and data quality in immovable asset management practices. By fostering a culture of continuous improvement and embracing digitalization, these individuals play a pivotal role in improving data quality and strengthening data governance. The study identifies how human expertise, process refinement, and technological innovation can address data quality and data governance gaps. The findings emphasize that to harness the latest trends in asset management, a balanced approach is needed where people act as change agents, working alongside improved processes and technology to ensure reliable and actionable immovable asset data across the public sector.

Asset management involves the management of immovable assets throughout its whole life cycle. This article presents the findings of research on the challenges facing National Government on the management of its immovable assets. The research contemplates the management of government immovable assets throughout its whole life cycle, the importance of an asset register as well as an immovable asset management plan. The primary data was collected by means of conducting interviews with government department personnel to reveal the strengths and weaknesses of the current theories and models within the government departments. Secondary data was obtained from the literature reviewed in relevant publications. The main findings were that the National Department of Public Works (NDPW) is currently ineffective in asset life cycle management, there is no clarity on the existence of an immovable asset management plan and that there is an urgent need for competent personnel with adequate skills to verify, capture and correct property data in an effective asset register.

Organizations with large, immovable assets, particularly in the public sector, are facing growing demands to improve efficiency and sustainability. Recent advancements in asset management strategies have intensified the need to identify optimal methods for managing engineering assets to achieve consistent, desired outcomes. The quality of immovable asset data plays a crucial role in asset management, directly impacting operational efficiency. However, while data availability is increasing, having more data does not necessarily improve the effectiveness of sustainability efforts in managing these assets. Many organizations lack a structured approach to information quality management, as the factors affecting information quality often go unrecognized. Addressing gaps in previous research, this study seeks to identify the factors that influence the quality of immovable asset information in asset management. Qualitative data were gathered through semi-structured interviews with eight industry experts in asset management. The findings from this research can guide the development of sustainable policies, strategies, and programs related to data quality, enhancing decision-making in asset management.

This Asset Management Beyond 2020 document provides: (1) an introduction to asset management (AM) and an asset management system (AMS), along with insights to next steps, (2) an overview of the International Standards Organization (ISO) 55000 series documents, (3) an overview of the ISO 55001 gap analysis of Center 4700/4800 ("Facilities") organizations at Sandia National Laboratories, hereafter referred to as Sandia, with observations, gaps, and gap closure recommendations, and (4) an asset management architecture (AMA) recommendation aligned with the ISO 55001. The AMS and the AM are different but related. ISO 55000 cites AMS as "a management system for AM" to "direct, coordinate, and control AM activities." ISO 55000 cites AM as translating "the organizational objectives into technical and financial decisions, plans and activities."1 Essentially, the AMS begins with all levels of leadership to enable a structured and consistent approach to AM culminating in lifecycle asset management excellence.

In the last decades, three-dimensional asset management is one of the significant practices that is rapidly being used nowadays. Nowadays, 3D GIS has been applied in various applications, especially asset management. A major problem that faces the country at present is the lack of effective tools for managing and maintaining the assets. Currently, in Malaysia, there has been a system that develop by the government named Malaysia Immovable Asset Management System (MySPATA) that is used for the recording, managing, and monitoring government immovable assets. However, this system has not been very successfully utilized due to data complexity and complication in the documentation. This also happens because there are issues involving the management of spatial data due to the growing complexity in infrastructure and limitation of applications. In the surge of digitized economies and industrial improvement, the usefulness of data visualization is becoming increasingly significant in sectors such as smart city planning, construction, management, and services. Therefore, for this to happen, integration between 3D asset management and the CityGML concept is needed This paper focuses on managing 3D asset management using the CityGML concept. CityGML is an independent geospatial information model for semantic 3D city and landscape models that contain various features and modules such as spatial information, data integration, and data visualization. Integration of current technology which is Geographical Information System (GIS) and CityGML concept being employed for 3D asset management. A 3D asset management modeling is being developed using the CityGML standard to track spatial assets, maintain asset records, and sustain an accurate inventory of assets. Thus, in the future, an effective GIS database management will be developed to ensure adequate system performance and operational.

The article is devoted to the analysis of current and non- current assets as an invisible part of business activities, influencing visibility, composition, quality of assets and the impact of effective asset management on the effectiveness of business. Budіvlі, obladnannya, syrovina, koshti, tsіnі paper, transport zabі, patents, licences, software products and other values - all business activities. It has been shown that the effective management of business assets is necessary for structurization, control of and recovery of assets for the exclusion of foreign surpluses, failures in the production and non-purchasing arrears. By itself, the establishment of effective management of current assets and non-current assets helps to overcome low functional problems, promotes competitiveness and adaptability to the market and guarantees high efficiency of asset management and regular renewal. The main approaches to the definition of the understanding of negotiable and non-current assets, and asset management have been reviewed. It was seen the difference between incomes to the management of current and non-current assets. A number of tasks have been formulated to face effective asset management, the main principles of effective management and the steps of organizing the process have been seen. An analysis of the features in the management of assets for current and non-current assets in the fallow in terms of features and structures was carried out, as well as the importance of optimizing, increasing the turnover and minimizing the cost of assets, as one of the key tasks in the asset management system, was demonstrated. As a result of the investigation carried out, it was confirmed the need to improve and implement the effective management of current and non- current assets and the reliability of business profitability in the form of successful operation. The role of the need to increase non-current assets and minimize the costs of current assets in the asset management system was also confirmed.

Purpose Currently, building information modelling (BIM) is largely seen as a 3D model, not as an information model or information management tool. This wrong perception of BIM and low interest in 3D asset management (AM) is one of the major reasons for the slow adoption by clients in the architectural, engineering and construction (AEC) industry. The purpose of this paper is to identify the techniques and strategies of streamlining AM systems for BIM-based integration, and how the information is captured from physical assets towards BIM-based integration for clients to derive value from BIM investments. Design/methodology/approach A qualitative case study strategy was used to study the strategic implementation process of integrating BIM with AM systems and the business value of BIM in AM by a large asset owner in the UK. Findings The paper identifies key strategies in the adoption of BIM-based processes by an asset owner, the implementation process, the challenges and the benefits attained. Several barriers were identified as the challenges of adopting BIM-based processes in AM: complexity and cost associated with BIM; irrelevance of 3D geometric data in AM processes; nature of asset ownership structure; managing the asset handover process; managing change within the organisation. Organisations will have to consider the following issues in streaming asset information with BIM: the development for a clear strategy prior to adoption; connecting the strategy to the business goals; and conducting the discovery exercise to identify organisational information needs. Originality/value The research addresses a significant gap in the development of techniques and strategies for asset owners to streamline BIM with AM systems and derive business value from such integration. The research context is a case study involving a large owner-operator in the UK that has been able to derive value from BIM systems in their AM processes. The key value of the paper is improving asset owners’ understanding of BIM in AM by demonstrating the implementation strategies, linkage to organisational objectives, challenges, value management process and business value of BIM in AM. Another contribution of the paper is improving the understanding of BIM, which is usually viewed as 3D models and that 3D geometric data do not have much value for AM tasks.

The strategic role of Engineering Asset Management

Abstract: Effective asset tracking and management are critical for organizations to optimize resource utilization, re- duce operational costs, and enhance decision-making. Traditional asset management methods, reliant on manual processes or barcode systems, often suffer from inefficiencies, errors, and lack of real-time visibility. This paper proposes an innovative framework integrating Internet of Things (IoT), Radio Frequency Identification (RFID), and Artificial Intelligence (AI) to enable real-time asset tracking, predictive maintenance, and data-driven opti- mization. Through a mixed-methods approach, including a systematic literature review, stakeholder interviews, and simulation-based analysis, the study addresses challenges such as asset misplacement, underutilization, and data silos. The proposed system leverages IoT sensors, RFID tags, and AI algorithms to achieve 98% tracking accuracy, 25% improved asset utilization, and 30% reduced maintenance downtime. Case studies across man- ufacturing, healthcare, and logistics demonstrate the framework’s versatility. This research offers a scalable, secure, and technology-driven solution for modern asset management, contributing to operational excellence and sustainability. Keywords: Asset Tracking, Asset Management, Internet of Things, RFID, Artificial Intelligence, Real-Time Monitoring, Predictive Maintenance

Purpose – The role of engineering asset management (AM) system as a controlling element within organizations is not well defined or understood. The purpose of this paper is to include the role of AM in the organizational strategy making, an issue that has not received sufficient attention. The focus of the paper is on how such role is maintained by the AM system activities, relationships and mechanisms over the asset-related activities of an organization. Design/methodology/approach – As an approach, a reference framework is required that allows research of this area. By combining a number of possible views of an organizational management system a comprehensive view can be established. A review of literature was used to establish a framework identifying the AM system as an integrated part of the organization's management system. Findings – A framework is established that focuses on planning and controlling asset-related activities by involving a set of activities, relationships between these activities and feedback mechanisms. A system functional model is proposed integrating the established framework as part of the control of the enterprise system. Research limitations/implications – The framework and system functional model are established on a theoretical basis and practical experience requiring applicability to be proven by further research. Practical implications – Asset managers in capital intensive organizations can utilize the framework and the system functional model in order to study their AM system, its relationships and to consider how it may be improved. Originality/value – Exploring a holistic and relatively new concept.

Auditing is an important process that improves the governance and management of public assets, in the interest of budget organizations and citizens, and through quality audits, strengthens accountability in public administration for the effective, efficient and economic use of assets. Assets constitute a very sensitive category, where inefficient management can lead the organization to significant financial and operational losses. In this sense, auditing helps identify weaknesses, strengthen internal control and increase accountability in the administration of public assets. The research assesses the impact of auditing on efficient and effective financial management, with a particular focus on public asset management. By assessing the level of implementation of recommendations in asset management, identifying key challenges in improving asset management and analyzing the impact of auditing on increasing accountability and transparency in asset management. The research is based on an analytical and comparative approach, considering legal requirements, international auditing standards, annual financial reports and progress reports on the implementation of recommendations. Comparative analysis methods will be used over the years to understand how audits have influenced efficient and effective asset management. The research has highlighted the direct impact of auditing on improving internal control mechanisms and strengthening accountability that have contributed to better management of public assets, considering the level of implementation of recommendations, which is a strong indicator of efficient and effective financial management.

No AccessOct 2022Nakuru CountyAuthors/Editors: Mihaly Kopanyi, Abdu MuwongeMihaly KopanyiSearch for more papers by this author, Abdu MuwongeSearch for more papers by this authorhttps://doi.org/10.1596/978-1-4648-1880-6_ch12AboutView ChaptersFull TextPDF (0.7 MB) ToolsAdd to favoritesDownload CitationsTrack Citations ShareFacebookTwitterLinked In Abstract: Reports that the Nakuru County Finance Department has taken steps toward improving asset management, including (1) appointing a three-person asset management team within the Finance Department to manage the county-owned assets; (2) procuring an information technology system to capture all county assets’ information; and (3) assigning the asset management team to begin the process of capturing asset data in the field. Once complete, the county will have a working asset register. The Nakuru County Asset and Liability Committee (CALC) did decent work, but verification and valuation of assets remains incomplete, with the process hampered by lack of time and resources. The Finance Department should take the lead to complete asset verification, validation, and eventually assets’ valuation, especially land and buildings. Nakuru County has no asset management system, framework, or procedures, nor does it have policy, strategy, or an asset management plan. The county should establish a small, simple, reliable asset management system in the short to medium term. ReferencesCBK (Central Bank of Kenya). 2020. “Inflation Rates 2013–2019.: Nairobi: CBK. https://www.centralbank.go.ke/inflation-rates/. Google ScholarCGA. 2012. County Governments Act No. 17 of 2012. http://www.parliament.go.ke/sites/default/files/2017-05/CountyGovernmentsAct_No17of2012_1.pdf. Google ScholarCRAB. 2015. 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Virtual Reality (VR) technologies can be used as a content-delivery system for the purposes of both entertainment and education. Remote and digital education has become ever so important in a world where global disruptive events such as pandemics and natural disasters can define access to a face-to-face learning environment. An important aspect of VR technologies for dentistry is the creation of digital 3D models. The primary of this review was to answer the focused research question, "What software techniques are used in the creation of digital 3D models for use in dental education." This study systematically evaluates current software and techniques used for creating digital 3D models in dental education using the Preferred Reporting Items for Systematic Reviews (PRIMSA). The search strategies did not find any studies specific to the creation of dental-related 3D models. Therefore, this study for the first time provided an overview of common techniques of 3D model fabrication is discussed. Further some examples of methods of creating 3D models relevant to dentistry such armamentarium and anatomical oral structures have been discussed in considerable detail. The creation of 3D modelling is a rapidly evolving field with software updates and new programs being continually released. This work highlights fundamental lack of published work in the creation of 3D dental models for educational applications.

Assets play an important role in human life, especially to an organization. Organizations strive and put more effort to improve its operation and assets management. The development of GIS technology has become a powerful tool in management as it is able to provide a complete inventory for managing assets with location-based information. Spatial information is one of the requirements in decision making in various areas, including asset management in the buildings. This paper describes a 3D GIS approach for management of assets. An asset management system was developed by integrating GIS concept and 3D model assets. The purposes of 3D visualization to manage assets are to facilitate the analysis and understanding in the complex environment. Behind the 3D model of assets is a database to store the asset information. A user-friendly interface was also designed for more easier to operate the application. In the application developed, location of each individual asset can be easily tracked according to the referring spatial information and 3D viewing. The 3D GIS approach described in this paper is certainly would be useful in asset management. Systematic management of assets can be carried out and this will lead to less-time consuming and cost-effective. The results in this paper will show a new approach to improve asset management.