Factor Timing in Asset Management: A Literature Review

Asset Management in National and County Contexts

This study examines Indonesian State-Owned Enterprises (SOEs) asset management methods, problems, and financial and operational performance effects. The report synthesizes case studies and academic research on how large organizations manage their huge and diverse asset portfolios and how governance, regulatory frameworks, and human resource practices affect their effectiveness. The research begins with case studies of talent management innovations from big Indonesian SOEs. These cases show how proactive human resource approaches can boost company commitment and reduce turnover, improving asset management efficiency. According to the research, governance and legal frameworks influence asset management techniques. Studies show that corporate governance quality affects SOE operational performance. The paper explores how reforms and legislation affect state asset management, highlighting the major changes in SOE governance and legal frameworks, particularly after economic and political reforms. Asset management difficulties for Indonesian SOEs include managing large and diverse asset portfolios, integrating modern management frameworks, and optimizing state asset revenue. According to the study, comprehensive asset management systems, governance transparency, and professional management can address these difficulties. The research examines how asset management strategies affect Indonesian SOE profitability, corporate governance, and performance measures. Strategic asset management boosts financial performance, especially profitability. SOE profitability is greatly affected by current asset and liability management. The study offers advice to Indonesian SOEs and policymakers. Enhancing financial and operational performance requires comprehensive asset management, governance changes, and strategic innovation. These efforts boost Indonesia's economy, demonstrating the importance of asset management in SOE performance.

Asset management has been gaining momentum in both academic and industry, but is it so distinct from other existing management philosophies? This research effort discusses the relation between asset and quality management, particularly for organizations managing (public) infrastructures, to highlight the similarities and differences between both and their role towards sustainable infrastructure development. The compatibility matrix developed demonstrates that, in conceptual terms, asset and quality management are highly similar in the scope of these organizations. As such, organizations implementing formal and certified asset management systems should assess the existing processes to avoid overlaps and make the best use of the experience accumulated. It also proposed the balance between performance and risk as the metric to measure the quality (or value, adopting the asset management concept) of management decisions. The growing recognition that infrastructures exist in highly complex uncertain contexts requires changing management decisions from choosing the options with the highest expected outcome to the options with the best balance between expected outcome and potential variability of the outcome. Finally, considering sustainability as the ultimate goal, the relation between quality and asset management is linked to the need for integrated infrastructure management by analysing sustainable mobility versus sustainable transport infrastructures.

The Global Forum on Maintenance and Asset Management (GFMAM) was formed in 2011 to bring together various experts, practitioners, academics, and other professionals who are active in the field of asset and maintenance management. The primary mission of GFMAM is to develop and promote knowledge, standards, and education for the maintenance and asset management professions. To fulfil this mission, GFMAM developed an ‘Asset Management Landscape’ document, which defines 39 subjects on asset management, grouped into six main subject areas. This paper reports on two surveys that were conducted to determine the importance of the 39 asset management subjects. Respondents were requested to rate the importance of each of the 39 subjects on a five-point scale. Results from the survey indicated that the five most important subjects are ‘asset management strategy and objectives’, ‘asset management policy’, ‘strategic planning’, ‘asset management planning’, and ‘asset management leadership’.

More than half of the world’s population live in cities, with this proportion expected to grow over time. Cities and other urban areas tend to be significant consumers of natural resources and producers of greenhouse gases. The effective sustainable management of their assets is therefore critical in ensuring that they achieve and maintain a positive living environment that provides safety and security for their citizens while achieving sustainable management goals. A significant contributor to the achievement of this goal is a modern and sustainable asset management process that facilitates well-planned and managed roads and other infrastructures, such as water supply, sewerage and communication systems.Developing, managing and maintaining a sustainable urban environment is underpinned by comprehensive asset management systems, supported by other processes, such as risk management, management of engineering projects and taking a strategic approach to managing assets on a life cycle basis. The use of advanced approaches, such as building information modelling (BIM), geographical information systems (GIS), improved asset planning and design and automated data collection supports these systems.The effective education of engineers and other professionals in advanced asset management is considered to have a major role in developing the strategic asset management leaders who can implement these advanced processes. To meet this requirement, the University of Southern Queensland has developed and updated on an ongoing basis a postgraduate engineering management course in asset management, along with related courses in areas like risk management and project management. These courses take a strategic approach to developing their students and are integrated where possible with relevant standards and systems. Initiatives to incorporate modern asset development and management approaches through utilising them to educate strategic asset managers of the future are discussed.KeywordsSustainabilityEducationAsset managementUrban environmentBuilding information modelling

Digital Asset Management (DAM) has emerged as an advanced approach to empower asset managers in controlling and optimizing asset operations. This study addresses the challenge of integrating metadata from a repository of 2340 reported asset problems at one of the public schools in Saudi Arabia over 2 years. The data, obtained in .xls format from the existing asset/facility information management system, was meticulously unified to visualize digital assets enriched with relevant data. Findings showed, among others, repeated data/records, incomplete/inaccurate data, language issues, lack of time reporting a problem, absence of status reports, and confusion between asset and facilities data. The primary aim is to explore the integration of this metadata into an Asset Information Model (AIM) for more efficient asset management. The proposed integrated strategy for supporting metadata in AIM analysis emphasizes effective metadata management. By defining metadata requirements, establishing robust standards, implementing efficient capture and storage processes, seamlessly integrating metadata into the AIM model, establishing governance procedures, leveraging metadata in analysis, and continuously monitoring and optimizing the strategy, organizations enhance the accuracy, consistency, and integrity of AIM analysis. This comprehensive approach fosters improved decision-making in asset and facility management, leading to enhanced overall efficiency. Successful implementation and further research on this strategy contribute to AIM analysis advancement and metadata utilization optimization, elevating asset management practices in the evolving construction and infrastructure industry. This research provides valuable insights into digital asset management and presents a compelling blueprint for leveraging metadata integration for effective asset management strategies.

The internal management of intangible assets in organizations refers to the strategic management of those assets that, unlike tangible assets, do not have a physical existence but generate significant value for organizations. These assets include brands, patents, copyrights, human capital, and reputation, among others. The importance of these assets lies in their fundamental source of competitive advantage and long-term economic growth. However, their management presents unique challenges given their intangible nature. The internal management of these assets is a strategic process that requires a comprehensive and systematic approach. The objective of this research is to explain the management of intangible assets from the perspective of an organization's internal and external disclosure strategies, processes, and transfer methods. The research is nonexperimental, using documentary techniques, within an analytical framework, and with a qualitative approach. The study proposes an integrated model for the management and transfer of intangible assets based on five phases: diagnosis, design, implementation, monitoring, and disclosure. This model is supported by tools such as the Balanced Scorecard, intellectual capital audits, and knowledge management systems. Through three strategic pillars: identification, internal management, and transfer, the model seeks to map, capitalize on, and disseminate organizational knowledge. The model has been shown to improve knowledge retention and innovation capacity within organizations.

In any optimized asset management system, risk management is considered to be one of the core elements. International asset management standards like PAS 55, ISO 55000 has integrated risk management with the asset management process throughout the life cycle of assets. Risk based asset management guides the organization to perform the trade-off on both cost and risk, and enables a structured decision-making process. To develop a practical implementation approach, what is required is the alignment of asset management activities from the corporate strategy to the point of execution while embedding the risk management activities throughout. The focus of the paper is to provide an integrated framework for asset and risk management and to demonstrate, in detail, the development of the risk management process for a thermal power generation unit operating in the Indian context. Though the context of reference is set specific to power generation units in India, the approach could be generalized across any asset intensive organization.

RFID application in patient and medical asset operations management: A technology, organizational and environmental (TOE) perspective into key enablers and impediments

This paper provides a retrospective overview of asset management in the construction industry. Emphasis is placed on assessing decision-support tools for municipal infrastructure planning. The study identifies the extent of the asset management market in North America, addresses the need for decision-support tools for municipal-type organizations, and identifies the challenges for maintenance, repair, and renewal planning faced by asset owners and managers. Integration with existing systems such as computerized maintenance management, geographic information, and corporate legacy systems is seen as the largest challenge for developing and using decision-support tools in the area of asset management. The present study classifies various stages of implementation for asset management using the six “whats”—questions that an asset manager should ask about the status of his portfolio. Finally, the activities of a consortium in the area strategic asset management are introduced. The investigation leading to this ...

Asset or wealth management is a booming business in Mainland China. In a civil law system, how do Chinese law and Chinese courts deal with disputes arising out of an asset management relationship, in the absence of the branch of law of equity and trusts? The Chinese lawmakers, regulatory bodies, judges and asset management institutions are faced with challenging legal issues. Who is the owner of the assets under management? What is the nature of the relationship between the investor and the asset manager? Is an investor of an asset management product a consumer? This paper investigates the developments, the current position and the possible future of the law and practice concerning the legal issues that may arise out of the investor-manager relationship in the asset management businesses in Mainland China. The paper would also shed light on how Chinese law and courts deal with issues that would call for the intervention of the principles of equity and trusts in common law jurisdictions.

Risk Management of Insurance Fund Use in the Large Asset Management Era

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One of the big challenges for current asset management is to properly command lifecycle project information to enable asset managers having an integrated view of their engineering assets. During the lifecycle of an infrastructure project, there will produce extremely large amount of information. In the traditional way, the information exchanging and sharing processes are always fragmented. It is general that lifecycle information from different project phases is not efficiently delivered to support asset management works. This paper tries to find an optimal solution for more integrated asset information management. We start from a brief and state-of-art overview of current information integration approaches for asset management purpose. Three main kinds of approaches are reviewed: (1) BIM and IFC based approach, (2) the Semantic Web based approach and (3) the information retrieval based approach. A comparison between different approaches is then given based on our understanding of the principle of asset information management. Finally, we conclude that an information retrieval tool using artificial intelligence techniques is needed for more integrated asset information management. This paper is a preparation for future developments of a smart information retrieval prototype. The prototype is supposed to be tested on real projects, which will be conducted with collaboration with Rijkswaterstaat (the Dutch Ministry of Infrastructure and Environment) in the Netherlands.