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Tuesday, May 19, 2009
Economic Evaluation
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Wednesday, May 6, 2009
Information System
Asset Management Information System is defined as the use of information and communication technology, which include data acquisition and processing, software, and hardware that are necessary to provide an essential support system for an effective asset management in an organization.
The use of electronic based system has become more apparent in a big and widespread organization, which need real-time, online and future information for optimized decision-making. The need to have an electronic based information system will depend on the following factors:
- The cost of development
- The cost of acquisition and maintenance
- The expertise needed
- The benefits that will be derived from the information system
4.3.1 Asset Management Information System
The organization shall establish and maintain (an) asset management information system(s). The system(s) shall be designed and maintained to provide an adequate support and information to the organization in meeting all of the requirements set out in clause 4 of this specification. It shall include provision to support the development and implementation/achievement of the asset policy, strategy, risk identification, assessment and control, objectives, targets, plans. It shall also support all of the requirements related to the implementation and operation, checking and corrective actions and the management review.
The information shall be accessible to all relevant employees and other relevant third parties including contractors as appropriate.
Where separate asset management information systems exist, the organization shall ensure that the information provided by these systems is consistent.
However, the requirements do not specify specifically an “electronic-based system” or a computerized system, but the current technology is on using a computerized system that will enable online and real-time information.
To have an excellent information system, the ingredients are as follow, that is:
- Be able to perform basic functionalities in asset management and fit for purpose
- Be able to interface with existing and future systems
- Having excellent data management
- Having basic or advance analytical tools
- Must be enterprise wide
The information system must be able to, as a minimum, to have the functionalities listed in the diagram below:
The organization must also develop an asset identification system to allow a unique identity to each individual asset in the organization. Without an asset registry, there will be no asset management, as we do not know what asset to manage. This is the first function of an information system that needs to be fulfilled before proceeding on to other systems as in the diagram above.
A simple audit will suffice to determine the current position of the organization in the asset management information system maturity model. From this model, a strategic framework on asset management information system will be developed in conjunction with the strategic framework on asset management of the organization.
System Interfacing
The information system must be able to interface with the existing manual or computerized system that is in existence in the organization. During the development phase, decision has to be made to either upgrade or interface with the existing system. This is crucial and the decision has to be made using asset management principles.
It is also worthwhile to look in newer technologies such as Geographical Information System (GIS), Global Positioning System (GPS), real-time condition monitoring system or even Remote Identification System using radio frequency identification device (RFID) and incorporate these technologies in the information system.
The organization has also to look at interfacing of field data from third parties or proprietary equipments/software especially on condition assessment equipments, off site or field measuring equipments, mobile field scanners, hand-held inputting device and so forth.
An information system without interfacing capabilities will be not be an effective system.
Data Management
The integrity of data must be ensured at all stages of collection and inputting of data. Introduction of a specific process in data collection and input will ensure the following, that is:
- Correct data is collected and inputted
- The data has economic value to the system and organization
- Accurate data at all times.
The organization will also have to make a decision on the level of details that the organization needs, as every data is specific to each organization. Nevertheless, external factors also will determine the extent and depth of the details needed. The external factors are:
- Legal compliance
- Clients requirements
- Government requirements
Analytical Tools
An information system without any analytical generated reports will only be a data reporting system and not an information system. Having this in mind, amongst the basic analytical tools to be incorporated in the information system are as follows:
- Benefit-cost analysis
- Life cycle costs
- Net present value
- Current and Future Trends
- Graphical presentations
- Modeling tools based on mathematical expressions
- Condition monitoring
- Economic models
- Decay models
- Predictive models
Enterprise Wide
Lastly, the information must be at enterprise wide and be able to be accessed by all levels of staff involved in asset management. The level of use will have a bearing to the effectiveness of the information system, as the competency on the information system would differ at every level of the organization. In a learning organization, the level of use is not a problem for the organization, as the competency, role and responsibility are clearly specified and documented.
Conclusion
Information system is crucial in providing information for, as follows:
- decision making
- performance management
- continual improvement
- corrective and preventive actions
- management review
- knowledge management