Total Asset Management Research Articles

KELOLAAN PEMBIAYAAN DAN PORTOFOLIO PEMBIAYAAN BERMASALAH DAMPAKNYA TERHADAP PENGELOAAN TOTAL ASSET PADA PT. BANK MUAMLAT INDONESIA

This research was carried out to find out whether there was a significant impact of managed financing and non-performing financing portfolios on the management of total assets at PT Bank Muamalat Indonesia in 2009 to 2018 either partially or simultaneously. This type of research is descriptive quantitative using secondary data types obtained from the Publication Financial Statements of PT Bank Muamalat Indonesia or BMI from the Bank's Annual Report, from 2009 to 2018. The data analysis method uses classical assumption test techniques and Linear Regression Analysis techniques , Correlation Coefficient test, partial hypothesis test (t test), simultaneous test (F test) and Coefficient of Determination test with the variable Financing Management (X1) and Non-Performing Financing Portfolio (X2) and Total Asset Management at PT Bank Muamalat Indonesia as a variable (Y). The tests were carried out using the SPSS For Windows version 20 application. The results obtained with the multiple regression equation PTA = - 2,314,464,26 + 1,33KP + 1,93NPF and with the results of the Simultaneous Test the value of Fcount 3.978 < Ftable 4.74 with table significance value of 0.070 from the value of the significance level = 0.05. So that simultaneously the Financing Management (KP) and Non-performing Financing Portfolio (NPF) simultaneously have no significant effect on Total Asset Management at PT Bank Muamalat Indonesia. The value of Adjusted R-Square (R2) is 0.532 or (0.532 x 100% = 53.20%) this shows that although there is no significant effect, there is a contribution of KP and NPF variables to the PTA variable of 58.20% while 46, 80% by other factors

Relationally integrated value networks for total asset management in project portfolios

Relationally integrated value networks for total asset management (Rivans-Tam) have been recommended by scholars as a vehicle to integrate the stakeholders of project management (PM) and of asset management (Am), covering the entire life cycle of a built asset. This paper presents a scoping and exploratory pilot study to test a further proposition that expands the basic Rivans-Tam concept to encompass portfolio management, to benefit asset-intensive organisations holding a large portfolio of ongoing construction projects and operational built assets. Accordingly, it establishes a strong theoretical underpinning based on previously validated research exercises on Rivans-Tam and previous applications of social network analysis (SNA) for Rivans-Tam and developed from in-depth high-level semi-structured interviews with six industry professionals with relevant expertise and experience. The outcomes broaden the theoretical base of Rivans-Tam, also highlighting its practical potential to empower total portfolio management (TPM). This TPM perspective expands the hitherto ‘single asset’-focused Rivans-Tam concept and related SNA methods to a wider portfolio of both ongoing construction projects and operational built assets. Moreover, the consolidated findings contribute substantially to practice by providing a basis to overcome the main challenges and unlock the potential synergies from ‘overall best value’-focused relational integration of hitherto disconnected diverse stakeholders.

Enhancing the efficiency of infrastructure projects to improve access to finance

While there has been much discussion about the large infrastructure needs in Asia and the Pacific, less attention has been paid to public expenditure efficiency in infrastructure services delivery. New constructions are not the only solution, especially when governments have limited capital to invest. Globally, new infrastructure projects face delays and cost overruns, leading to an inefficient use of public resources. The root causes include the lack of transparency in project selection, the lack of project preparation, the silo approach by public entities in assessing feasibility studies, and the lack of public sector capacity to fully develop a bankable pipeline of projects. To tackle these issues, governments need a smarter investment approach and to do so, enhancing public service efficiency is very crucial. The paper suggests a “whole life cycle” (WLC) approach as the main strategic solution for the discussed issues and challenges. We expand the definition of WLC to include the entire life cycle of the infrastructure asset from need identification to its disposal. The stages comprise planning, preparation, procurement, design, construction, operation and maintenance, and disposal. This is because we believe any efficient or inefficient decision throughout such a wide life cycle influences the quality of public services. Hence, in this holistic approach, infrastructure life cycle consists of four phases: planning, preparation, procurement, and implementation. Governments could enhance public efficiency and thus improve access to finance throughout the WLC by several solutions. These are (i) preparing infrastructure master plan and pipelines and long-term budgeting during the planning phase; (ii) establishing framework and guidelines and improving governance during preparation phase; (iii) promoting standardization, transparency, open government, and contractual consistency during the procurement phase; and finally (iv) continued role of government and total asset management during the implementation phase. In addition to these phase-specific means, key WLC solutions include proper use of technology, capacity building, and private participation in general and public-private partnership (PPP) in particular.

Image-based non-destructive evaluation method for building condition assessment

Building condition assessment (BCA) is one of the important approaches in total asset management during the asset life cycle. BCA is to monitor the functional status of the asset during the asset use and maintenance phase in the asset life cycle. With regards to this, various non-destructive evaluation (NDE) technologies are adopted for building structure physical condition assessment from time to time to prevent any catastrophic incident to occur. Two case studies on inspection of internal structure condition of concrete wall and slab using image-based NDE were presented in this study. A well-known NDE technology, namely ground penetrating radar (GPR) was used to scan the concrete wall and slab to identify the internal structure condition of the concrete wall and slab. The GPR radargram obtained by the shorter wavelength radar signal is evaluated to resolve the internal structure and the defect in detail. Results of this study prove that GPR can detect the internal structure of the concrete wall and locate the moisture in the concrete slab due to poor waterproof design. With such convincing results, the application of GPR has set a new benchmark in BCA for building physical condition assessment; a crucial aspect for better building maintenance and management in total asset management.

Empowering collaborative total asset management and inspiring innovations through Rivans

Weak linkages between project management (PM) and asset management (AM) phases pose a major challenge to total asset management (TAM) solutions that could significantly boost the value of built assets, through relational integration among key stakeholders in the TAM cycle. Fourteen key stakeholders who could help bridge PM and AM phases and teams through relationally integrated value networks (Rivans) were identified as key players in a previous study. This paper reports on a follow-up research study based in Sri Lanka, into how these stakeholders could be relationally integrated through collaborative procurement frameworks such as Rivans to deliver high-value built asset solutions, first focusing on the building sector. A critical Rivans-TAM network was established using Ucinet Social Network Analysis software package; 68 critical cross-links were identified. A comprehensive case study then revealed the current integration levels, together with the weak cross-links, and the critical relationships that should be strengthened for effective Rivans-TAM. Identified shortfalls in relationships were next focused on to explore and propose approaches to uplift current integration levels and boost built asset value. Thus, the industry, led by such key stakeholders, should create opportunities for nurturing goal-oriented Rivans to catalyse innovations towards smart and sustainable TAM.

ANALISIS LAPORAN KEUANGAN SEBAGAI DASAR PENILAIAN KINERJA PADA PERUSAHAAN SEMEN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2015-2016

Company's financial performance can be known from the aspect of financial ratios, such as Liquidity, Solvency, Profitability, and Activity ratios. The development of a company, can be seen and can be compared through the company's financial performance. This is certainly useful for investors, creditors, and owners to make profitable investment decisions. This study aims to assess the financial performance of PT. Semen Indonesia Tbk, PT. Indocement Tunggal PrakasaTbk, and PT HolcimIndonesia by using financial ratio analysis. This study uses secondary data from Indonesia Stock Exchange. The result of research shows there are differences of financial performance between PT. Semen Indonesia Tbk, PT. Indocement Tunggal PrakasaTbk, and PT Holcim Indonesia. Suggestions for the Management Party should further improve the performance of total asset management, so that efficient corporate finance will be better.Keywords: Liquidity, Solvency, Profitability, Activity, and Financial Performance

Optimization on the financial management of the bank with goal programming model

Financial management is crucial for planning bank’s asset and liabilities while taking consideration for multiple objectives. The objective of this study is to develop a Goal Programming (GP) model to optimize the financial management of Public Bank Berhad in Malaysia. Six goals from the financial statements namely total asset, total liability, total equity, profit, earning and optimum management items are investigated for the period from 2011 to 2015. The results of this study indicate that all six goals are fully achieved by using the GP model. This study is significant because it helps to develop a mathematical model to examine the financial strengths of Public Bank Berhad in Malaysia. Besides that, the potential improvement on liability, equity, profit, earning and optimum management item of Public Bank Berhadcan be identified in this study based on the deviation from the target value. Keywords : Asset; Liability; Equity; Profit; Earning; Optimum Management Items

Integrated solutions for total asset management through “RIVANS”

PurposeExamine the extent of integration in delivering value from design and construction (DC) activities for total asset management (TAM) and operations post-completion. DC and operations and management (OM) are both addressed. The problem owners are those in roles and organisations responsible for integrating DC with OM. The purpose of this paper is to show the extent of integration between actors along the project lifecycle. Relationally integrated value networks (RIVANS) provide the conceptual lens for the analysis.Design/methodology/approachA mixed method approach was used. A questionnaire survey and semi-structured interviews were employed.FindingsThere is a lack of engagement between DC and OM. The trend is moving counter to integration. BIM is not found to be a technical solution.Research limitations/implicationsThe mixed method helps extend the RIVANS perspective. Further research to understand and support integration is needed, especially qualitative research to provide greater granular understanding.Practical implicationsThe identified trend away from integration poses management challenges in delivery and for sustainability in use. Supply chains engage specialists, yet internal and inter-organisational collaboration require management attention to value creation. This includes the DC-OM interface. Both sides can benefit from increased engagement.Social implicationsInfrastructure and property provision will continue to fall short of user and environmental functionality without improved integration.Originality/valueA contribution to the project and asset management interface is made, showing low integration, disengaged asset management. BIM is unable to plug the gaps. The RIVANS analytical lens provides a perspective for improvement.

Geographic Information System Concept of Operations as a First Step Toward Total Enterprise Asset Management: Metro-North Commuter Railroad Case Study

For this enterprise geographic information system (GIS), Metro-North Commuter Railroad Company adopted the concept of operations (ConOps) process to define goals and objectives, inventory existing GIS assets, analyze data gaps, determine “as is” and “to be” business processes, define staffing and resource requirements and project initiatives, and provide a road map for a comprehensive, companywide GIS deployment. In contrast to the top-down approach typically employed in total enterprise asset management (TEAM) planning, Metro-North used a dynamic grassroots approach, holding 14 workshops, which were attended by 92 employees and were designed to collect GIS goals and objectives. The 122 goals generated from this process were distilled into eight companywide goals. These goals included increased efficiency, data sharing, and decision support. Initiatives were developed for five critical business areas that had the potential for demonstrating how enterprise GIS could help Metro-North accomplish its companywide and broader organizational goals. These pilot applications included visualizing straight-line diagrams, integrating property boundary data, retrieving drawings from the capital programs plan room, visualizing train tracking and delays, and visualizing ridership and demographics. This paper shows how a ConOps process could be used in railroad environments to think through GIS-related issues and to define concrete technology projects that provide tangible benefits to user departments and allow them to manage their assets and business issues. Although the focus of this study was on non-asset-related operations within the railroad, the ConOps process offers a user-centric systems planning approach that could be applied to TEAM efforts within the railroad industry or to the planning of corporate initiatives in any business environment.

THE PRACTICE OF BUILDING INSPECTION IN MALAYSIAN TOTAL ASSET MANAGEMENT

The implementation of Total Asset Management (TAM) is important for sustainable development. Safety and security are aspects that need to be assured of in sustainable development. To ensure that the aspects are assured, the construction industry professionals who are involved in designing, creating, maintaining and disposing the assets should have knowledge in asset management. Therefore, this paper reveals the awareness, knowledge, and familiarity of construction industry professionals about asset management, particularly in terms of building inspection. The data was obtained by using a questionnaire-survey, in which questionnaires were distributed among 205 Malaysian Professionals from various fields. The data was analysed by using the Statistical Package for Social Science (SPSS) software. The result shows that the majority of respondents are aware of the need for building inspection and the importance of it. However, they lack knowledge on how to perform a proper building inspection. This is because they are not familiar with the standards or protocols which are often used as a guide such as QLASSIC, RICS Building Survey Report, ASTM E-2018, CPBS101 and others. This is somehow related to many reports of building disasters which occur in Malaysia. To achieve sustainable development, all professionals involved in asset management should have sound knowledge of the principles of TAM, in order to implement it comprehensively.

Building integrated project and asset management teams for sustainable built infrastructure development

Purpose – This paper aims to investigate the relevance of the relationally integrated value networks (RIVANS) concept for integrating project management (PM) and asset management (AM) for total asset management (TAM). The specific objectives are to test the RIVANS for TAM concept postulated by Kumaraswamy (2011) and Kumaraswamy et al. (2012); discover ways to enable PM and AM teams to work in an integrated manner; and recommend strategies and operational measures to promote greater team integration in the industry. Design/methodology/approach – This study is based in Hong Kong with parallel studies in the UK, Singapore and Sri Lanka. Through a comprehensive questionnaire, a case study on an organization engaged in both design and construction and operations and maintenance (O&M) works, interviews and hosting a workshop (all conducted with experienced industry practitioners and experts), a set of recommendations are derived to guide the industry toward greater team integration. Findings – Early involvement of O&M staff is important for better anticipating obstacles and learning from past experiences, but PM and AM teams generally work independently with limited interaction. Priorities of the stakeholders are often different. Knowledge management is increasingly important, but knowledge sharing is not always a priority. The three focus areas in the set of recommendations developed from Hong Kong are: organizational/management structure, procurement strategies and operational mechanisms; fostering culture of team building and providing additional means of communication; and informal communication tools. Originality/value – There has been little research into the communication, interaction and integration between PM and AM priorities and teams. However, increasing industry emphasis on sustainable buildings, end-user satisfaction and designing for maintainability dictates that PM and AM teams must work closer together, hence the imperative for mapping useful directions to be pursued.

Condition Based Monitoring Application in Predictive Maintenance Strategies for Total Asset and Facility Management Service

Condition Based Monitoring Application in Predictive Maintenance Strategies for Total Asset and Facility Management Service

Strategic Total Highway Asset Management Integration

To manage a significant quantity of aging roadway infrastructure and growing traffic volume successfully, agencies are faced with challenges in developing reliable long-term plans that maximize network performance by optimizing programming preservation projects at the network level. Current practice typically involves relatively independent planning for bridge and pavement subassets, with a slight number of situations allowing for reliable trade-off analysis between the two. The choice to improve two bridges rather than one pavement section may yield a greater percentage increase in the bridge network performance than one pavement section would for the pavement network performance. The reliability of this choice being right and at the right time significantly decreases over the long term. Mutually inclusive highway asset planning by an integration of the bridge subasset into pavement subasset significantly increases long-term planning reliability. A key point of this strategic total highway asset management integration (STHAMi) approach is the conceptual structural integration factor. Integrating the bridge condition index into a pavement performance index allows for the treatment of bridges as equivalent pavement sections. STHAMi resulted in a higher percentage of model network treated per unit of value, coupled with consistently higher annual network performance during a 25-year span. Key benefits include the introduction of one pavement performance indicator as an overall encompassing highway performance measure for combined long-term bridge and pavement subasset planning. The approach makes long-term planning for both subassets possible in a pavement-oriented engineering organizational unit.

Performance-based dynamic contracting mechanism

Road infrastructure contracting is becoming more complex due to changing transport needs and new technologies. Transportation agencies are struggling with this increased complexity. Around the world, agencies have developed a variety of methods for undertaking outsourcing initiatives known as performance-based contracting and total asset management planning. This paper investigates how agencies can deal with changing circumstances in the outsourcing of construction and maintenance activities, based upon work in performance-based contracting in the Netherlands. Using data from maintenance contracts from Rijkswaterstaat1, we will develop a framework that can be used to compare several contracting practices and establish performance levels by using variables such as performance measurements. Our methodology offers significant improvements to road network performance outcomes, which enables an organisation to maximise value and deliver its objectives in an effective way. The outcomes are useful to transportation agencies for making decisions about contract price methods based on economic rationale.

A game plan for aging water infrastructure

The aging water infrastructure (AWI) dilemma requires a straightforward road map to address the issue as a financial problem. The basic steps should be understood by water utility management, politicians, and members of the public. Once this common ground is established, collaborative partnerships can be formed and professionals from a variety of disciplines can work through the steps. The game plan presented in this article uses the AWI solution cycle to offer basic steps to – among other things – reduce costs, find every available funding source, create new partnerships, conduct condition assessments, communicate with the stakeholders, address rate affordability challenges, build an asset management program, and achieve sustainability. As these basic steps are followed, cost efficiencies will occur and costly mistakes will be avoided. In addition, overall asset risk will decrease, and infrastructure investment funding gaps will be reduced. In order to move forward on AWI, the focus must be shifted from an engineering problem to a financial problem. Likewise, moving forward with condition assessment ahead of a total asset management program offers small and medium utilities a chance to better allocate funding and reduce risk early in the process.

Total asset management – enhancing value in the 10th Malaysia Plan

Total asset management – enhancing value in the 10th Malaysia Plan