Geotechnical Asset Management Plan: Analysis of Life-Cycle Cost and Risk

2016 ◽  
Vol 2596 (1) ◽  
pp. 36-43 ◽  
Author(s):  
Paul D. Thompson ◽  
Darren Beckstrand ◽  
Aine Mines ◽  
Mark Vessely ◽  
David Stanley ◽  
...  
Keyword(s):  
Life Cycle ◽  
Asset Management ◽  
Life Cycle Cost ◽  
Management Plan ◽  
Plan Analysis

scholarly journals Embedded Life Cycle Costing Elements in Green Building Rating Tool

2019 ◽  
Vol 5 (4) ◽  
pp. 750-758 ◽  
Author(s):  
Jam Shahzaib Khan ◽  
Rozana Zakaria ◽  
Eeydzah Aminudin ◽  
Nur Izie Adiana Abidin ◽  
Mohd Affifuddin Mahyuddin ◽  
...  
Keyword(s):  
Sustainable Development ◽  
Life Cycle ◽  
Life Cycle Cost ◽  
Green Building ◽  
Management Plan ◽  
Life Cycle Costing ◽  
Design Stage ◽  
The Sustainable Development ◽  
Resource Degradation ◽  
Development Goals

Green Building rating tools are the essential need of this era, to cope up with the sustainable development goals, climate change, and natural resource degradation through buildings. Realization of green building incentives decently increased within past few decades with abrupt declination in real estate markets and economic depletion has decelerated the interest of investors towards the green building projects. This research calculates influence of costing elements in MyCREST (IS-design) using questionnaire survey distributed amongst qualified professionals (QP’S) of green buildings and expert practitioners. Firstly, factor score and then weightage factor was performed to produce the final result with weightage output for evaluating weighatge and ranking of the relevant criteria of MyCREST and life cycle cost elements respectively. It is found that the criteria of storm water management has weighatge of 0.236 as highest and criteria environmental management plan (EMP) as 0.061 as lowest. Research also identified another perspective by finding association of cost element at design stage of MyCREST and found that management cost is highly associated at design stage with the value of 87.7%. The outcome of this research will add value to green building development and map road towards sustainable development using green building tools to uplift quality of life. Furthermore, this paves a way to integrate various stages of MyCREST with life cycle costing tool to potentially contribute in evaluating cost association through green building rating tool.

Toward improved LCC-informed decisions in building management

2018 ◽  
Vol 8 (2) ◽  
pp. 114-133 ◽  
Author(s):  
Filipa Salvado ◽  
Nuno Marques de Almeida ◽  
Alvaro Vale e Azevedo
Keyword(s):  
Life Cycle ◽  
Portfolio Management ◽  
Economic Performance ◽  
Asset Management ◽  
Life Cycle Cost ◽  
Background Knowledge ◽  
Sources Of Information ◽  
Content Type ◽  
Informed Decisions ◽  
Building Management

Purpose Stakeholders of the Architecture, Engineering and Construction (AEC) sector require information on the buildings economic performance throughout its life cycle. This information is neither readily available nor always accurate because building management (BM) professionals still face difficulties to fully incorporate the life cycle cost (LCC) concept into their daily practice. The purpose of this paper is to identify and contribute to solving these difficulties. Design/methodology/approach This paper provides a background knowledge review and set the ground for a structured research roadmap and a management framework that highlight the links and limitations to be addressed within and between LCC and BM. A six-stage method was used for developing conceptual frameworks targeting six goals: establishing a point of departure; mapping sources of information; literature research; notion deconstruction and conceptual categorization; overview of the applicable background knowledge; and structuring of a framework for LCC-informed decisions in BM. Findings Management solutions for the built context are necessarily connected with LCC and BM current concepts such as asset management, project, program and portfolio management, facility management and data management. These management approaches highlight the importance of incorporating life cycle concepts and promote LCC effective application within the AEC sector. Originality/value This paper identifies and discusses current limitations on the information availability for the economic performance of buildings throughout its life cycle. This work also identifies LCC-related topics that need to be further explored or addressed by both the scientific community and practitioners to overcome these limitations and facilitate the integration of the LCC concept into BM activities.

scholarly journals Identifying Research Topics and Trends in Asset Management for Sustainable Use: A Topic Modeling Approach

2021 ◽  
Vol 13 (9) ◽  
pp. 4792
Author(s):  
Hosang Jung ◽  
Boram Kim
Keyword(s):  
Life Cycle ◽  
Asset Management ◽  
Topic Modeling ◽  
Life Cycle Cost ◽  
Latent Dirichlet Allocation ◽  
Sustainable Use ◽  
Future Research ◽  
Research Topics ◽  
The Past ◽  
Modeling Approach

Asset management is not new, and research has been conducted in private and public sectors on how to systematically maintain infrastructure or facilities for sustainable use and achieve the level of service desired by users or customers at the lowest life cycle costs. This research identifies the research topics and trends in asset management over the past 30 years. To this end, latent Dirichlet allocation, a topic modeling approach, was applied to articles published in engineering journals and investigated the following three research questions: (1) what have the key topics been for the past three decades? (2) what are the main activities and target sectors of asset management? (3) how have the research topics and keywords changed over the past three decades? The analysis shows that the target field of asset management has broadened while the main activities of asset management have been limited to several popular activities such as life cycle cost analysis and reliability analysis. Some implications and future research directions are also discussed.

scholarly journals A Petri Net-based life cycle cost analysis approach

2018 ◽  
Vol 233 (1) ◽  
pp. 90-102 ◽  
Author(s):  
Paul Kilsby ◽  
Rasa Remenyte-Prescott ◽  
John Andrews
Keyword(s):  
Life Cycle ◽  
Petri Net ◽  
Asset Management ◽  
Life Cycle Cost ◽  
Life Cycle Cost Analysis ◽  
Engineering Systems ◽  
Overhead Line ◽  
Modelling Framework ◽  
Railway Infrastructure ◽  
Equipment System

Railway infrastructure providers, such as Network Rail, who owns and manages the British railway infrastructure, can improve the performance and reduce the life cycle cost of their assets through delivering effective asset management. Having the capability to use computer-based models to predict the future performance and life cycle cost of an asset group is a key enabling mechanism for implementing effective asset management. Decision makers can determine the optimum maintenance strategy and the best allocation of capital expenditure based on evidence from modelling results. This paper shows how probabilistic modelling can be used to evaluate asset management projects of the railway overhead line equipment system and undertake a life cycle cost analysis through the use of a stochastically timed high-level Petri Net. A complete modelling framework has been developed, where the components and their maintenance strategies are selected as inputs, and the Petri Net model is used to calculate outputs associated with the performance and life cycle cost of the overhead line equipment system for the corresponding components and strategies considered. This paper presents the practical use of the developed model and describes how the outputs can be used by asset managers to understand the expected system performance and cost over its life cycle. The range of outputs described are the most detailed for such models studying the overhead line equipment and other engineering systems in literature. Whilst the railway overhead line equipment system is used as an example study, the modelling framework is transferable to asset management projects for other engineering systems.

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