Building an Asset Management System for Engineered Physical Assets: a Contemporary Perspective

Damjan Maletič

doi:10.18690/978-961-286-442-2.83

Abstract

A rapidly changing business environment, strong competition, the requirement to minimize losses are some of the conditions under which organizations operate today. This has led to organizations constantly looking for new ways to improve their performance and gain a competitive advantage. Over the last two decades, the demand for effective physical asset management (PAM) has steadily increased. As a result, organizations’ commitment to physical asset management (PAM) has recently received considerable attention in both theory and practice. As a result, PAM has become an important field, especially in the assetintensive industry. In fact, PAM is also considered a key player within Industry 4.0. Assets in the sense of the ISO 55000 standard for asset management are items, things and entities that have value or potential value to the organization. Physical assets, also known as engineering assets, are important in creating tangible value for an organization in a variety of industrial settings such as manufacturing, power supply, water supply, construction, mining, transportation services, and various other sectors. The main purpose of the presentation is to highlight the topic PAM, introduce the key artefacts of ISO 55001, and outline the potential benefits to organizations. In addition, this presentation can be used as a guide to create a framework to maximizing the value realized from assets while balancing financial, environmental and social costs, risks, service quality and performance.

Highlights

Aman is born as a person without any characteristics, helpless and without any features specific for a grown man
Considering that there were three different courses developed by three different teachers, the results were analyzed separately depending on a course that was taken
If we take the sum of pupils who answered „easier“ and the percentage of pupils who answered „the same“ in the 4th and 5th grade, we get the data that 70% of pupils passed the adaptation to the 5th grade well

Summary

Introduction

Aman is born as a person without any characteristics, helpless and without any features specific for a grown man He owns only a specific number of instincts. A man is born with great oppotunities to develop rapidly , i.e. more rapidly than any other species of living beings Later, he develops and becomes qualitatively different in relation to any other human being, and this means that he uses instruments and speech, unlike all other living beings. Culture is hard to grasp as much of it is hidden in unspoken social patterns Leaders and founders start cultures and establish values that can remain for years to come. How do employees communicate with eachother at the meetings? Who has the power (in)formally at the meeting? Who is invited to the meeting – wider or narrow group of stakeholders?

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Conclusion