The concept of development of strategic assets of fund-intensive companies

2021 ◽  
Author(s):  
Nataliya Kazakova ◽  
Anastasiya Ivanova
Keyword(s):  
Asset Management ◽  
Professional Education ◽  
Oil And Gas ◽  
Internal Audit ◽  
Sustainable Business ◽  
Public Companies ◽  
Scientific Hypothesis ◽  
Strategic Assets ◽  
Asset Management System ◽  
Management Audit

The monograph is devoted to the study of conceptual approaches to the development of information and analytical support for the development of strategic assets in fund-intensive companies. It covers three key areas: the stakeholder approach in accordance with the concept of sustainable business development; modeling the trend of strategic asset management; audit of the effectiveness of the KPI strategy of public fund-intensive companies using the SPACE-analysis methodology. The results of the study are aimed at developing the corporate strategic asset management system, as well as improving the tools for assessing strategic risks in the internal audit departments of public companies. The methodological tools are supplemented with empirical materials obtained during the testing of the scientific hypothesis and a comprehensive methodology for analytical justification and modeling of the strategy for managing the development of fixed assets in fund-intensive companies in the oil and gas and ICT sectors, as well as during the implementation of research works. It will be useful for researchers, researchers, teachers, applicants for scientific degrees, and can also be used in the system of additional professional education, professional development, for self-development of management personnel of financial and economic services in business and government structures.

scholarly journals The Strategic Implementation Asset Management System Basis ISO 55000: A Case Study On Indonesian Railways Company

2021 ◽  
Vol 2 (3) ◽  
pp. 226-244
Author(s):  
Hafizhuddin Ali
Keyword(s):  
Customer Service ◽  
Asset Management ◽  
Management System ◽  
Management Standards ◽  
Strategic Assets ◽  
Strategic Implementation ◽  
The Subject ◽  
And Performance ◽  
Asset Management System

The purpose of this study is to investigate the implementation asset management system basis on ISO 55000. State-owned companies (SOE’s) in railways industry has a big asset across Sumatra, Java and Sulawesi Island. Railways SOE’s have a vision of becoming the best railroad service provider that focuses on customer service and meets stakeholder expectations. To relize the vision, Implementing ISO 55000 as asset management standards in corporation is important accordance to the vision in and mandatory of the Ministry of SOEs as stakeholders in managing strategic assets that are considered effective and efficient. In asset management, ISO 55000 Series is the international accepted standard which implemented in across industry. The purpose of this study is to determine the level of maturity in the existing asset management system against ISO 55000 and suggest improvements to the asset management system to achieve the certification of ISO 55000-based asset management. The method used is qualitative methods in case studies.The data from this study from deep interview by top managerial on Railways SOE’s. The analysis shown there is some clause whose level of maturity is doesn’t achieved competent level. Which raises a gap in the existing asset management system compared to ISO 55000 standards. One of these objects is the subject group Support, Context of Organization, and Performance Evaluation in ISO 55000 context and Risk & Review, Life Cycle Delivery, Asset Information, and Organization & People in the AM landscape developing level of maturity. As a result, an improvement in 2 aspects of asset management is recommended such as improvement on the basis of the asset management system and improvement on key performance indicators at Indonesia railways company.

Enterprise Asset Management System

2013 ◽  
pp. 57-70
Author(s):  
Nooruddin Ahmed
Keyword(s):  
Asset Management ◽  
Management System ◽  
Oil And Gas ◽  
Internal Resources ◽  
Novel Approach ◽  
Lean And Green ◽  
Asset Management System

Any ERP/EAM implementation is a complex journey. No matter how prepared, more often than not you end up like a traveler on a tour of countries where most people look, dress, and speak differently from you. The feeling is of a lost tourist with a map and language guide ambling through unfamiliar terrain, barely coping to do some of the normal things one took for granted. The analogy goes further; it takes time to familiarize oneself with routes, signs, language, and people to barely get along, and you find your trip ending and you move on to the next country on your tour. Similarly, just as you think you are finding your way with your ERP/EAM, someone announces it is time to upgrade, and you start to move again. After nearly 15 years of conventional projects, the case of a particularly interesting implementation came along in the UAE for a major Oil and Gas Services Company. A novel approach was mandated by necessity. The project was managed remotely and executed primarily by internal resources, making it a lean and green implementation.

scholarly journals Physical Asset Management in Equipment-Oriented Industries Using the Equipment Life Cycle Management Approach

2021 ◽  
Vol 15 (3) ◽  
pp. 323-329
Author(s):  
Hassan Adshirinpour ◽  
Mohammad Mehdi Movahhedi ◽  
Hedieh Divsalar ◽  
Shahla Sohrabi
Keyword(s):  
Life Cycle ◽  
Asset Management ◽  
Management System ◽  
Oil And Gas ◽  
Life Cycle Management ◽  
Management Approach ◽  
Physical Asset ◽  
Asset Management System ◽  
The Cost ◽  
Assets Management

Proper assets management and maintenance, especially equipment in the value chain of an organization, the failure of which leads to interruptions in the system and waiting in the production line, are very vital and of special importance in "equipment-oriented" organizations, including industries such as oil, gas, petrochemicals, steel, minerals, companies involved in the production and distribution of water, electricity, etc. Usually such organizations have a constant need to create an efficient and effective life cycle in order to achieve an efficient physical asset management system. The present study aimed to investigate the physical assets management in equipment-oriented industries with the equipment life cycle management (resource-based) view in oil and gas industries with a case study in an upstream oil industry company (namely North Drilling Company). For this purpose, first 15 criteria have been obtained based on literature review and research literature for evaluating the performance of physical asset management in oil and gas companies. Then, eight of the most important performance evaluation criteria were determined based on experts’ opinions and the fuzzy Delphi method, and in the next step, these criteria were weighted using the fuzzy SWARA method. According to the results, the most important criterion is the cost of maintenance and the least important is the cost of service-support. Finally, solutions are presented in the form of practical suggestions to improve the physical asset management system in this company.

From accounting to report: Digitalization of college and related issues

2020 ◽  
pp. 16-25
Author(s):  
D. N. Butorin
Keyword(s):  
Information Systems ◽  
Vocational Education ◽  
Professional Education ◽  
Vocational Training ◽  
Oil And Gas ◽  
Information Service ◽  
Accounting System ◽  
Educational Organization ◽  
Job Tasks ◽  
Digital Services

The article discusses the process of the digitalization of the educational organization of secondary vocational education. When automating routine processes, at some point, problems may arise in the transition from solving local accounting problems to submitting regulated reports. Often, digitalization becomes the only possible solution to the problems of combining the performance of job tasks based on data from various departments. This is especially evident when implementing integration with external federal information systems. The development of digital services for students with the help of the information service “NaLentu!” (”Go to a Class!”) is shown. Based on it, the mailing of the schedule, the “digital student’s record-book”, and the order of documents are implemented. It is described how one of the federal systems became the reason for the digitalization of processes in social accounting, the appointment and accrual of grants. The problems of the implementation of the accounting system on the part of employees, in particular, the perception by some of them of digitalization as a threat to their interests, are indicated. Further automation trends after the implementation of information systems in the decision of the central tasks of the educational organization are demonstrated. The stages of the introduction of information systems for accounting for vocational training and additional professional education are described, the analysis of the results of their implementation on the basis of College of Oil and Gas in Achinsk is given.

Asset Inspection Management System as a Reliable Inspection/ Monitoring Tool

2020 ◽  
Vol 78 (12) ◽  
pp. 1276-1285
Author(s):  
Shibu John A
Keyword(s):  
Asset Management ◽  
Management System ◽  
Balance Sheet ◽  
Integrity Assessment ◽  
Material Evaluation ◽  
The People ◽  
Physical Assets ◽  
Asset Management System ◽  
On Time Delivery ◽  
Capital Intensive

Enterprise asset management (EAM) systems are used by asset owners and/or operators to manage the maintenance of their physical assets. These assets, including equipment, facilities, vehicles, and infrastructure, need maintenance to sustain their operations. An EAM system provides the means to have less unplanned downtime and extended asset longevity, which offers clear business benefits that improve the profit and loss statement and balance sheet. Particularly for capital-intensive industries, like drilling and exploration, the failure of on-time delivery of critical equipment or processes is disruptive and costs nonproductive time and customer satisfaction. Organizations understand these issues and employ an appropriate asset management system to engineer their asset maintenance and management. An EAM system is needed to manage the people, assets/equipment, and processes. EAMs are used to plan, optimize, execute, and track the needed maintenance activities with associated priorities, skills, materials, tools, and information. Similarly, nondestructive testing (NDT) is used as a tool for integrity assessment of assets in drilling and exploration. The main advantage of using NDT is that the item’s intended use or serviceability is not affected. The selection of a specific technique should be based on knowledge and skills that include design, material processing, and material evaluation. Validating the purpose of this paper, we emphasize the importance of optimizing the asset utilization and serviceability to enhance overall efficiency by integrating EAM software that manages assets, the operation management system (OMS) controlling the processes, and asset inspection management systems (AIMSs).

Factors Associated with U.S. Public Companies' Investment in Internal Auditing

2005 ◽  
Vol 19 (2) ◽  
pp. 69-84 ◽  
Author(s):  
Joseph V. Carcello ◽  
Dana R. Hermanson ◽  
K. Raghunandan
Keyword(s):  
Audit Committee ◽  
Internal Audit ◽  
Cash Flows ◽  
Financial Service ◽  
Company Size ◽  
Internal Auditing ◽  
Public Companies ◽  
Ability To Pay ◽  
Factors Associated ◽  
Operating Cash Flows

Internal auditing has been the focus of much attention in recent years. This study examines factors associated with U.S. public companies' investment in internal auditing. Data from a survey administered to Chief Audit Executives of midsized U.S. public companies were supplemented with publicly available data. Based on data from 217 companies, the results indicate that total internal audit budgets (inhouse plus outsourced portions) are related to several factors associated with company risk, ability to pay for monitoring, and auditing characteristics. Specifically, we find evidence that internal audit budgets are positively related to company size, leverage, financial, service, and utility industries, relative amount of inventory, operating cash flows, and audit committee review of the internal audit budget. Total internal audit budgets are negatively related to the percentage of internal auditing that is outsourced. This study contributes to our understanding of internal audit services, and it allows companies to benchmark their investment in internal auditing.

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