Abstract
Asset management (AM) focuses on the life cycle of assets and provides a systematic process for developing and maintaining an organisation’s assets using a set of asset-related planning and control activities. Chiang Mai University (CMU) is a public university in Thailand founded in 1964. The university was the first provincial university in Thailand and aims to be the university of prototyped innovation for sustainable development in communities. CMU’s AM planning process is a critical aspect of its mission to develop the university. This study developed an asset management framework (AMF) based on IDEF0 functional modelling – a modelling process that facilitates the decisions, actions and activities of an organisation or system. Moreover, the study used an analytic hierarchy process (AHP) to perform pairwise comparison, produce matrices and calculate priorities for CMU’s assets. The researchers employed a strengths, weaknesses, opportunities and threats (SWOT) analysis to evaluate the organisation’s competitive position and support its strategic planning. This study presents the resulting of CMU’s AMF (AMF-CMU), the development of which contributed to prioritising and managing the university’s assets.
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