Asset Management Model Research Articles

Social Enterprise Model in Waqf Land Management in Bantul, Indonesia

Bantul Regency have 92.05 hectare waqf land, spread over 2,959 locations. So far, 76 per cent of waqf land is used for mosques/musholla. At the same time, waqf land assets can be empowered to alleviate poverty. This study aims to: 1) optimise the utilization of waqf land assets through simulation of hydroponic cultivation and biofloc; 2) find a poverty alleviation model through the development of waqf land assets; 3) describe the implications of the implementation of the model. The method used in this research is descriptive qualitative, carried out by simulation and interviews with the community. Kapanewon Sedayu and Kapanewon Banguntapan are the main focus of the study and implementation of waqf land assets, considering that Bantul Regency had the highest number of poor people in 2020, as many as 138.066 people. The results show that based on the simulation, waqf land assets allow for community empowerment and the formulation of a waqf land asset management model through the Model of Islamic Social Entrepreneurship, and there are several implications for empowering the poor.

Application and Analysis of Improved Fuzzy Comprehensive Evaluation Method in Goodwill Evaluation and Intangible Asset Management.

In order to improve the effect of goodwill evaluation and intangible asset management, this paper combines the improved fuzzy comprehensive evaluation method to construct an intelligent algorithm. In order to consider the many influencing factors of intangible asset prices and their own influence, this experiment adopts the ARDL model for analysis. Based on the traditional LSTM model, this paper innovatively introduces sparse principal component analysis for feature dimensionality reduction and, on the other hand, adds a convolutional neural network to the model, which is suitable for feature extraction. In addition, this paper constructs a goodwill evaluation and intangible asset management model based on the improved fuzzy comprehensive evaluation method. The research shows that the improved fuzzy comprehensive evaluation method proposed in this paper has a very good application effect in goodwill evaluation and intangible asset management.

Integrated asset management of urban water and wastewater systems

AbstractThis paper presents a decision support system for the integrated management of water distribution and wastewater collection networks. The proposed methodology utilizes system dynamics to integrate water mains and sewers with finance and sociopolitical sectors. It enables user rate‐setting and planning of integrated water and wastewater infrastructure operational and capital works over their life‐cycle (50+ years). The integrated asset management model is implemented using data from a large‐sized utility in Southern Ontario, Canada. The result indicates that the integrated framework enables the utility to accelerate funding for capital and operational works due to the integration of the water and wastewater financial resources and improve the integrated levels of service. In practice, the proposed integrated framework empowers and encourages water utilities to manage and plan their assets in an integrated approach to enhance their water and wastewater assets' infrastructure, financial, and sociopolitical performance relative to managing them in isolation.

An Intelligent Digital Media Asset Management Model Based on Business Ecosystem.

In the context of media convergence, it is of great significance to study and discuss the intelligent digital media asset management model and build a digital media asset management ecosystem model to carry out effective digital media asset management for media organizations and promote the value creation of digital media content assets. Based on the business ecosystem, this study adopts a system dynamics approach to construct a system dynamics model through theoretical research and simulation analysis. By studying the positioning of intelligent digital media asset management and service patterns, the basic framework of digital media asset management ecosystems is proposed. To explore the interaction between different factors, the system dynamics model of value creation in digital media asset management ecosystems is built in this paper. This study provides new insights for media organizations on building an intelligent digital media asset management model and promoting the development and utilization of media content resources.

Analysis of Asset Management Models for a Transformer Fleet in the National Laboratory of Smart Grids (LAB+i)

The study of the degradation of power transformers in the electrical network has become a subject of relevant analysis by network operators and companies, associated with the probability of failures and operation quality. For this reason this paper firstly presents the classification of a set of 12 Asset Management models related to power transformers monitoring and, then, the application of three of them in three substations of the National Laboratory of Smart Grids (LAB+i) located at Bogot´a Campus of the Universidad Nacional de Colombia. As a result, the main challenges were identified concerning the Asset Management application in transformer fleets related to data availability and precision. Finally, it was identified that the development of an Asset Management model that uses non-invasive real-time measurements is needed for continuous monitoring of power systems and diagnosis.

Developing a two-stage multi-period stochastic model for asset and liability management: A real case study in a commercial bank of Iran

In this paper, a novel two-stage multi-period stochastic model is developed to obtain a comprehensive plan. This plan aims to manage the assets and liabilities such that all legal and budget constraints are satisfied. Assets in the model include short- and long-term loans with reasonable interest rates, investments in the stock market, varied bonds with different expirations, investments in other banks, and the legal budget in the Central Bank. However, liabilities encompass all types of sight and investment deposits with different maturities. In the model, each type of deposit's amount is considered a decision variable, while its total amount is assumed to be stochastic. The mathematical model is constructed in an innovative way such that all previous loans and bonds with possible transactions in the planning horizon could be considered initial parameters. Real data for a commercial bank in Tehran, the Islamic Republic of Iran capital, are used to construct and check the optimization model. The total revenues obtained through the mathematical model and one achieved based on the experiences of financial experts in the commercial bank for four years are compared.

A Human-Centric Model for Sustainable Asset Management in Railway: A Case Study

The ongoing digital transformation is changing asset management in the railway industry. Emerging digital technologies and Artificial Intelligence is expected to facilitate decision-making in management, operation, and maintenance of railway by providing an integrated data-driven and model-driven solution. An important aspect when developing decision-support solutions based on AI and digital technology is the users’ experience. User experience design process aims to create relevance, context-awareness, and meaningfulness for the end-user. In railway contexts, it is believed that applying a human-centric design model in the development of AI-based artefacts, will enhance the usability of the solution, which will have a positive impact on the decision-making processes. In this research, the applicability of such advanced technologies i.e., Virtual Reality, Mixed Reality, and AI have been reviewed for the railway asset management. To carry out this research work, literature review has been conducted related to available Virtual Reality/Augmented Reality/Mixed Reality technologies and their applications within railway industry. It has been found that these technologies are available, but not applied in railway asset management. Thus, the aim of this paper is to propose a human-centric design model for the enhancement of railway asset management using Artificial Intelligence, Virtual Reality, and Mixed Reality technologies. The practical implication of the findings from this work will benefit in increased efficiency and effectiveness of the operation and maintenance processes in railway.

Scenario Generation for Asset and Liability Management Models Applied to a Saudi Arabian Pension Fund

In Asset and Liability Management (ALM) models, there are parameters whose values are not known with certainty at decision time, such as future asset returns, liability and contribution values. Simulation models generate possible “scenarios” for these parameters, which are used as inputs in the optimisation models and help thus in making decisions. These decisions can be evaluated in the sample, on the same scenarios that were used for making the decision, and out-of-sample, on a different, usually much larger, scenario set. With asset return simulation, the major difficulty lies in the multivariate nature of the data. We propose to capture this via the historical copula, making thus no distributional assumptions. We suggest the use of univariate sample generation which allows for different asset returns to be modelled by different distributions. The liabilities and contributions values have as a main source of uncertainty the population numbers; we propose to model this by adapting a model used in biology (BIDE). We use the resulting scenario generator in four different ALM optimisation models, using a dataset from the largest Saudi Arabian pension fund and the Saudi Arabian market index.

Asset management system according to ISO 55000 standard in the production process

The undocumented processes, the lack of a record with specifications of machinery, procedures, operational use; causes the maintenance to be developed in an empirical way. The objective of this research is to develop an asset management model using ISO 55000 standards, focused on improving the production processes of balsa blocks in the company Tecnoblock S.A. The analytical, deductive and inductive methods were used to diagnose the production process. As a result, the maturity level analysis was obtained, which consists of; diagnosis of the current situation of the production system, SWOT analysis, verification of compliance with the parameters of the standard, requirements in the context of planning, operation, evaluation, performance and improvement. It was concluded that the development of an asset management model applying ISO 55000 standards, it is necessary to specify in detail each of the requirements described by the standard.

The company you keep: Investment adviser clientele and mutual fund performance✰

This study examines how the composition of an investment adviser's client base (identified via Form ADV filings) relates to the performance of its mutual funds. Investment advisers catering to institutional clients realize statistically and economically superior risk-adjusted mutual fund performance relative to retail-oriented advisers. Subsequent tests identify the channel(s) responsible for the relationship. The evidence is consistent with both a governance mechanism (i.e., Evans and Fahlenbrach 2012) as well as inefficiencies stemming from the costly search mechanism of Gârleanu and Pedersen's (2018) model for asset management. The results suggest that institutional clients can identify better performing investment managers, particularly in market segments where retail mutual fund investors face higher search costs.

Industry 4.0 Contribution to Asset Management in the Electrical Industry

Industry 4.0 has revolutionized paradigms by leading to major technological developments in several sectors, including the energy sector. Aging equipment fleets and changing demand are challenges facing electricity companies. Forced to limit resources, these organizations must question their method and the current model of asset management (AM). The objective of this article is to detail how industry 4.0 can improve the AM of electrical networks from a global point of view. To do so, the industry 4.0 tools will be presented, as well as a review of the literature on their application and benefits in this area. From the literature review conducted, we observe that once properly structured and managed, big data forms the basis for the implementation of advanced tools and technologies in electrical networks. The data generated by smart grids and data compiled for several years in electrical networks have the characteristics of big data. Therefore, it leaves room for a multitude of possibilities for comprehensive analysis and highly relevant information. Several tools and technologies, such as modeling, simulation as well as the use of algorithms and IoT, combined with big data analysis, leads to innovations that serve a common goal. They facilitate the control of reliability-related risks, maximize the performance of assets, and optimize the intervention frequency. Consequently, they minimize the use of resources by helping decision-making processes.

Integrating resilience into asset management of infrastructure systems with a focus on building facilities

Asset managers are facing the challenges of shrinking budgets from one side and the increasing frequency and impact of disturbances on their assets from the other side. To further equip asset managers to address these challenges, we propose an analytical framework for resilient asset management based on an extension to the established analytical framework of resilience. The core concept of this extension is to understand the significance of two types of couplings, including: (i) the coupled impact of different categories of disturbances, including shocks and stressors, and (ii) the chronological coupling of events in life cycle of an asset. A dynamic model of the proposed framework for integrating resilience into regular asset management is developed for building facilities and is integrated with mathematical modeling of stressors and randomly generated shocks. The model is then simulated as the results pointed to the need to offset the overestimation of the resilience of assets by integrating the coupled impact of shocks and stressors and the compounding impact of multiple potential disturbances in its life cycle. The proposed approach can extend the existing asset management models to future proof the plans for the life cycle of an asset and align the maintenance, repair, or rehabilitation actions with the actions associated with resilience enhancement retrofits.

The Principle-Agent Conflict Problem in a Continuous-Time Delegated Asset Management Model

This paper considers the principle-agent conflict problem in a continuous-time delegated asset management model when the investor and the fund manager are all risk-averse with risk sensitivity coefficients γ f and γ m , respectively. Suppose that the investor entrusts his money to the fund manager. The return of the investment is determined by the manager’s effort level and incentive strategy, but the benefit belongs to the investor. In order to encourage the manager to work hard, the investor will determine the manager’s salary according to the terminal income. This is a stochastic differential game problem, and the distribution of income between the manager and the investor is a key point to be solved in the custody model. The uncertain form of the incentive strategy implies that the problem is different from the classical stochastic optimal control problem. In this paper, we first express the investor’s incentive strategy in term of two auxiliary processes and turn this problem into a classical one. Then, we employ the dynamic programming principle to solve the problem.

Development of integrated asset management model for highway facilities based on risk evaluation

Highways are vital infrastructures that play a crucial role in providing social welfare. Highway structures could experience different types of deterioration (e.g. pavement ageing, pavement cracking, potholes, bridge structure deteriorations, and rockfall due to unstable slopes). Minimal attention has been directed towards developing a comprehensive model to effectively reduce the potential hazards for the entire highway network while considering the associated individual and overall risks. An integrated risk management model is used to separately assess each section's risk value and the extent of its impact on the network. An efficient model has been developed to identify the highway sections that its maintenance will effectively reduce the total risk within the highway network. The developed model competence is examined and verified after evaluating a four major highway network in Florida. The results of the highway's analysis were compared for all routes within the network. Also, the developed model's proficiency in optimally reducing the network's overall risk is presented. The proposed model could be utilized as a support-decision tool to decide which highway segments must be maintained to minimize the network's potential risk.

Battery asset management with cycle life prognosis

Battery Asset Management problem determines the minimum cost replacement schedules for each individual asset in a group of battery assets that operate in parallel. Battery cycle life varies under different operating conditions including temperature, depth of discharge (DOD), charge rate, etc., and a battery deteriorates due to usage, which cannot be handled by current asset management models. This paper presents a new battery asset management methodology where battery cycle life prognosis is integrated with parallel asset management to reduce lifecycle cost of the Battery Energy Storage Systems (BESS). For the battery failure time prognosis, a nonlinear physics-based battery capacity fade model is developed and incorporated in parallel asset management model to update battery capacity over time. Experiment results have shown that the developed battery asset management methodology can be conveniently used to facilitate BESS asset management decision making thereby decreasing asset lifecycle costs.

Traditionalism Nazhir Kyai On Waqf Asset Development In Bangkalan Madura

<p><em>This research aims to identify the model of waqf asset management by religious leaders (kyai) in Madura, which serves to support and optimize asset waqf utility nationally, which has not been well empowered. This study focuses on (1) knowing the management and development of waqf capital assets by Kyai as Nazhir in Bangkalan, and (2) determining the analysis of the waqf asset development model in order to increase the benefit of waqf assets in Bangkalan</em><em>. </em></p><p><em>A qualitative approach was used in the present study. Data retrieval techniques with documentation and in-depth interviews on the management of waqf assets in Bangkalan using component analysis on waqf core principles standards.</em></p><p><em>The results of the research showed that waqf assets managed by kyai were transferred to posterity without going through the changing nazhir process, which impacted on the unfulfilled aspects of waqf development, which is based on aspects of knowledge, training recruitment, rewards, and aspects of coaching and supervision.</em></p>

Water Utilities Should Not Be Strangers to WIFIA

Thanks to the labors of my predecessor, Tom Curtis; other volunteer leaders; and sustained advocacy by AWWA members at the grassroots, the Water Infrastructure Finance and Innovation Act (WIFIA) became law in 2014. It has been a smashing success, yet drinking water utilities have been slower to participate in the program compared with utilities managing wastewater, combined sewer overflow (CSO), and water reuse projects. This trend seems to have been reversing itself lately, but there are still too many missed opportunities for drinking water funding through WIFIA loans. Drinking water systems will send in a letter of interest, but then drop out of the running for reasons still unclear. WIFIA is a federal credit program that provides long-term, low-cost loans with fixed interest rates to creditworthy utilities. The program offers an extended repayment term of up to 35 years from completion of construction (usually five more years), deferred interest, and “sculpted” rates to match revenues with utility expenditures over the life of the loan. Other features such as the “drawdown” and prepayment enhance its attractiveness. It is also a great deal for the taxpayer. The WIFIA portfolio of loans generates US$100 of infrastructure spending for every $1 appropriated to the program by Congress. WIFIA loans finance up to 49% of approved projects, thereby stimulating other investments from tax-exempt bonds, state revolving funds (SRFs), or private equity. In 2021 alone, WIFIA will be able to lend approximately $5 billion. WIFIA is managed by the US Environmental Protection Agency (USEPA), which has done an outstanding job with setting up this new finance program. To date, it has closed on 49 loans totaling $9.3 billion (as of April 2021) to finance systems serving 31 million Americans. Various projects are eligible for WIFIA funding (see www.epa.gov/wifia), including the usual suspects such as treatment, storage, consolidation, water security, energy efficiency, and many more. Basically, anything eligible under either the Clean Water Act or Safe Drinking Water Act SRFs is fair game if the applicant is a public water system. Further, WIFIA loans fund not only projects, but ongoing programs such as lead service line and distribution system replacements—two areas of particular interest to drinking water utilities. While WIFIA has yet to fund a land-based source water protection project at scale, there is no reason a utility could not fund protection of a headwaters forest or deployment of easements and management practices on agricultural lands to protect the utility's reservoir or other source water. USEPA's Office of Groundwater and Drinking Water has identified a 200-year average cycle for replacement of distribution lines in the water sector. While one does not automatically replace, say, a 100-year-old line, postponing renewal for two or three centuries is not an asset management model that utilities should practice. Utilities often pay for distribution line renewals from their operating revenue on a pay-as-you-go basis rather than using debt financing with the cost spread over multiple years. WIFIA offers a means of getting ahead of the curve and reducing risk for current and future generations. Funding wastewater, CSO, and reuse projects is important and will continue to be a big part of the WIFIA program, but it would be ironic if drinking water utilities did not take advantage of this marvelous program that AWWA labored so hard to create, fund, and protect over the past decade. WIFIA and drinking water utilities should not be strangers to each other. G. Tracy Mehan III is executive director of the AWWA Government Affairs Office in Washington, D.C. He can be reached at tmehan@awwa.org.

The Model Prototype of WebGIS-based for Organizational Asset Management

Large organizations generally have assets distributed over separate locations. The problem is, decisions or policies will be easier to make if they are supported by a system that can dynamically visualize the existence of every asset owned by the organization. The WebGIS-based asset management approach is an alternative solution to this problem. This study examines a proposed WebGIS-based organizational asset management model. An application prototype was developed to test the proposed model using PHP, JavaScript, HTML, and CSS software. The Google Maps API is also used to create a base map. On the back end, authorized users can control and perform input, edit, and delete asset data. On the front end, public users can access public information. The test results of the developed prototype can provide various information on organizational assets visually based on digital maps that suit the needs of its users. The developed prototype still needs to be tested further, especially concerning security aspects, browser compatibility, and display design suitability.

CONCEPTUAL MODEL OF 3D ASSET MANAGEMENT BASED ON MYSPATA TO SUPPORT SMART CITY APPLICATION IN MALAYSIA

Abstract. Urbanization is the access to modernization and development around the world. Nowadays, with the current technology development, smart cities are seen as a new approach in urban management and development. 3D asset management is one of the components to support the idea of smart city. 3D asset management is important to assist the monitoring and maintenance of asset in smart city by enabling visualization of 3D models, locating and query in real-time based. In Malaysia, the government is looking seriously at the issues of asset management and maintenance. This is happened because asset management in present day is already moving towards the revolution of smart city but still considered as time consuming and open to human errors as the asset managers or authorities still considering on paper-dependent and manual inspection practise. In the past few years, Malaysia has developing an electronic-based asset management, MySPATA that is made prior to the inefficiency on the asset management system. MySPATA has been introduced as electronic based asset management solution for immovable assets that belong to various department and ministries. However, the creation of MySPATA is considered as bland and time-consuming as its application only storing and displaying asset information. Thus, the implementation of 3D asset management is required for a better and effective management. In this paper, we proposed the conceptual model of 3D asset management by incorporating with the new CityGML standard. The proposed 3D asset management is based on MySPATA module. CityGML plays an important role in demonstrating the 3D asset management for modelling, string and exchanging city models in the international standard. So, the 3D asset management is developed based on MySPATA module that integrated with new CityGML concept. Therefore, with this new approach and concept, the managing of assets will lead for better management and maintenance.

Pension fund management with investment certificates and stochastic dominance

This paper considers an extension of the common asset universe of a pension fund to investment certificates. Investment certificates are a class of structured products particularly interesting for their special payoff structures and they are acquiring relevancy in the worldwide markets. In fact, some subclasses of certificates offer loss protection and show high liquidity and, thus, they can be very appreciated by pension fund managers. We consider the problem of a pension fund manager who has to implement an Asset and Liability Management model trying to achieve a long-term sustainability. Therefore, we formulate a multi-stage stochastic programming problem adopting a discrete scenario tree and a multi-objective function. We propose a technique to price highly structured products such as investment certificates on a discrete scenario tree. Finally, we solve the investment problem considering some investment certificate types both in term of payoff structure and protection level, and we test whether they are preferred or not to standard hedging contract such as put options. Moreover, we test the inclusion of first-order and second-order stochastic dominance constraints on multiple stages with respect to a benchmark portfolio. Numerical results show that the portfolio composition reacts to the inclusion of the stochastic dominance constraints, and that the optimal portfolio is efficiently able to reach several targets such as liquidity, returns, sponsor’s extraordinary contribution and funding gap.