Article: A systems approach to managing complex engineering assets: exploring shifts in equipment management and reliability enhancement paradigms Journal: International Journal of Agile Systems and Management (IJASM) 2022 Vol.15 No.1 pp.93 - 117 Abstract: Engineering asset management is a complex socio-technical system, and there has been a surge in efforts to optimise the capacity utilisation of these assets in the wake of conflicting economic and performance objectives. The major challenge is in determining which assortment of approaches (tools, strategies, techniques, methodologies and philosophies) to apply in order to get optimal trade-offs of cost, risk and performance or reliability. This paper critically reviews the literature to examine shifts in physical asset management paradigms over the past few decades and to determine the best combination of approaches; and it shows that none of these approaches are able, individually, to optimise the trade-offs, but as a cluster. It proposes a Systems-thinking model-based integration approach. Pilot studies have shown that using the model proposed can yield savings in maintenance costs of 15-40% and in avoided costs of up to 15%. Inderscience Publishers - linking academia, business and industry through research

Title: A systems approach to managing complex engineering assets: exploring shifts in equipment management and reliability enhancement paradigms

Authors: Burnet O'Brien Mkandawire; Nelson Ijumba; Akshay Kumar Saha

Addresses: Department of Mechanical Engineering, School of Engineering, Malawi University of Business and Applied Sciences, Private Bag 303, Chichiri, Blantyre 3, Malawi ' School of Engineering, University of KwaZulu-Natal, Howard College, Durban, 4041, South Africa ' School of Engineering, University of KwaZulu-Natal, Howard College, Durban, 4041, South Africa

Abstract: Engineering asset management is a complex socio-technical system, and there has been a surge in efforts to optimise the capacity utilisation of these assets in the wake of conflicting economic and performance objectives. The major challenge is in determining which assortment of approaches (tools, strategies, techniques, methodologies and philosophies) to apply in order to get optimal trade-offs of cost, risk and performance or reliability. This paper critically reviews the literature to examine shifts in physical asset management paradigms over the past few decades and to determine the best combination of approaches; and it shows that none of these approaches are able, individually, to optimise the trade-offs, but as a cluster. It proposes a Systems-thinking model-based integration approach. Pilot studies have shown that using the model proposed can yield savings in maintenance costs of 15-40% and in avoided costs of up to 15%.

Keywords: equipment management paradigms; multi-criteria risk-modelling; power-asset management; reliability; systems-thinking-approach; transdisciplinary approach.

DOI: 10.1504/IJASM.2022.124172

International Journal of Agile Systems and Management, 2022 Vol.15 No.1, pp.93 - 117

Accepted: 18 Aug 2021
Published online: 15 Jul 2022 *

Title: A systems approach to managing complex engineering assets: exploring shifts in equipment management and reliability enhancement paradigms

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