Engineering asset management : problem-solving models to support asset- intensive organisations in the regulatory and business performance contexts

Abstract

Asset-intensive organizations operate in competitive markets, deal with huge investments and handle numerous decisions, the consequences of which are significant for their permanence and growth in the Economic Sector in which they operate. Engineering Asset Management is responsible for the achievement of these objectives. Asset-intensive organisations that are strongly regulated need instruments to support decisions on implementing Asset Management (AM), while mitigating risk and contributing to the compliance with the regulatory framework of the Sector of the Economy. To solve this problem, this thesis proposes two managerial problem-solving models. The first is based on the experts' perception of the contribution of the implementation of Asset Management (AM) and Risk Management (RM) to meet the sector's regulatory requirements, without, however, analysing the regulatory framework in detail. The second is based on an in-depth analysis of the regulatory requirements. Their relevance goes to fill a gap in the literature to induce improvement and increase the level of maturity of AM, while contributing to the organization for its compliance with the regulatory framework. Both Models were applied to a Brazilian company in the Power Transmission Sector. Another management problem, experienced by asset-intensive organizations, is the need to understand 'how AM maturity impacts business performance', an issue that remains open, in the academic and business environments. Understanding how AM maturity impacts business, will make it possible for organizations to have greater confidence in AM investments that bring better returns to the business. In addition to the two models mentioned earlier, this research also proposes a managerial problem-solving model that offers insights into this understanding. The objective, therefore, is to offer a fundamental and useful way to show in advance "how the AM process relates to the business". The evidence of the relationship is the result of the analysis of case studies in different sectors of the economy, publicly available. In addition, the thesis also proposes an Integrated View of Engineering Asset Management (AM-IV) framework, which aims to offer a useful understanding of the complex multidimensional discipline of AM in a simplified way, and to contextualize the problem-solving models which are the object of this study. The main contributions of this study are: to fill a gap in the literature identifying priorities for the implementation of AM process whilst focusing on the regulatory framework of the Sector of the Economy; to contribute to the improvement of business performance, providing a path to the understanding of the impact of AM on business; and to encourage an increase in the efficiency of decision-making in AM.