Title: Application of maintenance tools and strategies in integrated risk management of critical physical assets
Authors: Burnet O'Brien Mkandawire, Nelson Mutatina Ijumba, Howard Whitehead
Addresses: The Polytechnic, University of Malawi, Private Bag 303, Blantyre 3, Malawi. ' HVDC Centre, University of KwaZulu-Natal, P/B X54001, Durban 4000, South Africa. ' Ethekwini Electricity, 322 Cato Road, Glenwood, Durban, 4001, South Africa
Abstract: This paper critically analyses various tools, techniques and strategies; and proposes an |integrated risk management model| that utilises advantages of the best combination of tools, techniques and strategies to manage risks thereby optimising operating costs whilst maximising returns on critical assets in high voltage networks; and physical assets in general. We used a triangulation method involving a longitudinal single case study within Malawian power sector, multiple (34) industrial case studies and sample surveys of selected Malawian and South African industries. It was shown that the electric power industry (70%) lacked a clear systemic maintenance and refurbishment risk management model due to the difficulty in determining optimum combination of tools. They also lacked technical skills needed to apply proactive strategies. The core value of tools is in planning of maintenance and refurbishment; and in contextualising, exploring, assessing, treating and monitoring of risks.
Keywords: maintenance planning; refurbishment; asset management; high voltage networks; Malawi; South Africa; integrated risk management; critical physical assets; power sector; electricity industry.
International Journal of Agile Systems and Management, 2011 Vol.4 No.3, pp.261 - 279
Received: 05 Jun 2010
Accepted: 01 Feb 2011
Published online: 01 Jun 2011 *