IDEAS home Printed from https://ideas.repec.org/a/pal/jorsoc/v60y2009i1d10.1057_jors.2008.174.html
   My bibliography  Save this article

The rise, current position and future direction of asset management in utility industries

Author

Listed:
  • A Brint

    (Sheffield University Management School)

  • J Bridgeman

    (University of Birmingham)

  • M Black

    (CE-Electric UK)

Abstract

Ensuring the fitness for purpose of the UK's utility networks is vital to both the country and the network owners. Replacing these networks would cost many hundreds if not thousands of billions of pounds. As these assets age, high levels of investment are now required to maintain a satisfactory performance level. For example, the annual investment needed for the UK's electricity distribution network is over £1 billion. Hence, efficiently managing these assets is extremely important and ‘asset management’ is the core of the infrastructure companies' businesses. This paper reviews what is meant by the term ‘asset management’ and why it has risen in importance over the last few decades. The current position of asset management modelling is then described before the likely key future developments are considered.

Suggested Citation

  • A Brint & J Bridgeman & M Black, 2009. "The rise, current position and future direction of asset management in utility industries," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 60(1), pages 106-113, May.
    • Handle: RePEc:pal:jorsoc:v:60:y:2009:i:1:d:10.1057_jors.2008.174
    DOI: 10.1057/jors.2008.174
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/jors.2008.174
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1057/jors.2008.174?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. A H Christer, 1999. "Developments in delay time analysis for modelling plant maintenance," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 50(11), pages 1120-1137, November.
    2. Kamal Golabi & Ram B. Kulkarni & George B. Way, 1982. "A Statewide Pavement Management System," Interfaces, INFORMS, vol. 12(6), pages 5-21, December.
    3. Jiang, R. & Jardine, A.K.S., 2008. "Health state evaluation of an item: A general framework and graphical representation," Reliability Engineering and System Safety, Elsevier, vol. 93(1), pages 89-99.
    4. K A H Kobbacy, 2004. "On the evolution of an intelligent maintenance optimization system," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 55(2), pages 139-146, February.
    5. M Black & A T Brint & J R Brailsford, 2005. "A semi-Markov approach for modelling asset deterioration," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 56(11), pages 1241-1249, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Marc Spiller & Brian McIntosh & Roger Seaton & Paul Jeffrey, 2015. "Integrating Process and Factor Understanding of Environmental Innovation by Water Utilities," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 29(6), pages 1979-1993, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. M Black & A T Brint & J R Brailsford, 2005. "A semi-Markov approach for modelling asset deterioration," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 56(11), pages 1241-1249, November.
    2. Zhang, Fengxia & Shen, Jingyuan & Liao, Haitao & Ma, Yizhong, 2021. "Optimal preventive maintenance policy for a system subject to two-phase imperfect inspections," Reliability Engineering and System Safety, Elsevier, vol. 205(C).
    3. P A Scarf & H A Majid, 2011. "Modelling warranty extensions: a case study in the automotive industry," Journal of Risk and Reliability, , vol. 225(2), pages 251-265, June.
    4. Xuejuan Liu & Wenbin Wang & Rui Peng & Fei Zhao, 2015. "A delay-time-based inspection model for parallel systems," Journal of Risk and Reliability, , vol. 229(6), pages 556-567, December.
    5. Wang, Wenbin & Banjevic, Dragan & Pecht, Michael, 2010. "A multi-component and multi-failure mode inspection model based on the delay time concept," Reliability Engineering and System Safety, Elsevier, vol. 95(8), pages 912-920.
    6. Lee, Jinwoo & Madanat, Samer, 2015. "A joint bottom-up solution methodology for system-level pavement rehabilitation and reconstruction," Transportation Research Part B: Methodological, Elsevier, vol. 78(C), pages 106-122.
    7. Driessen, J.P.C. & Peng, H. & van Houtum, G.J., 2017. "Maintenance optimization under non-constant probabilities of imperfect inspections," Reliability Engineering and System Safety, Elsevier, vol. 165(C), pages 115-123.
    8. J Ansell & T Archibald & J Dagpunar & L Thomas & P Abell & D Duncalf, 2003. "Analysing maintenance data to gain insight into systems performance," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 54(4), pages 343-349, April.
    9. Gabriel Bazi & John Khoury & F. Jordan Srour, 2017. "Integrating Data Collection Optimization into Pavement Management Systems," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 59(3), pages 135-146, June.
    10. Braglia, Marcello & Carmignani, Gionata & Frosolini, Marco & Zammori, Francesco, 2012. "Data classification and MTBF prediction with a multivariate analysis approach," Reliability Engineering and System Safety, Elsevier, vol. 97(1), pages 27-35.
    11. Yaping Li & Enrico Zio & Ershun Pan, 2021. "An MEWMA-based segmental multivariate hidden Markov model for degradation assessment and prediction," Journal of Risk and Reliability, , vol. 235(5), pages 831-844, October.
    12. Jiang, R., 2010. "Optimization of alarm threshold and sequential inspection scheme," Reliability Engineering and System Safety, Elsevier, vol. 95(3), pages 208-215.
    13. Seyedshohadaie, S. Reza & Damnjanovic, Ivan & Butenko, Sergiy, 2010. "Risk-based maintenance and rehabilitation decisions for transportation infrastructure networks," Transportation Research Part A: Policy and Practice, Elsevier, vol. 44(4), pages 236-248, May.
    14. Seites-Rundlett, William & Bashar, Mohammad Z. & Torres-Machi, Cristina & Corotis, Ross B., 2022. "Combined evidence model to enhance pavement condition prediction from highly uncertain sensor data," Reliability Engineering and System Safety, Elsevier, vol. 217(C).
    15. Wenbin Wang & Wenjuan Zhang, 2005. "A model to predict the residual life of aircraft engines based upon oil analysis data," Naval Research Logistics (NRL), John Wiley & Sons, vol. 52(3), pages 276-284, April.
    16. Bian, Zheyong & Bai, Yun & Douglas, W. Scott & Maher, Ali & Liu, Xiang, 2022. "Multi-year planning for optimal navigation channel dredging and dredged material management," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 159(C).
    17. Alberti, Alexandre R. & Cavalcante, Cristiano A.V. & Scarf, Philip & Silva, André L.O., 2018. "Modelling inspection and replacement quality for a protection system," Reliability Engineering and System Safety, Elsevier, vol. 176(C), pages 145-153.
    18. Flage, Roger, 2014. "A delay time model with imperfect and failure-inducing inspections," Reliability Engineering and System Safety, Elsevier, vol. 124(C), pages 1-12.
    19. Xinhua Mao & Changwei Yuan & Jiahua Gan, 2019. "Incorporating Dynamic Traffic Distribution into Pavement Maintenance Optimization Model," Sustainability, MDPI, vol. 11(9), pages 1-15, April.
    20. de Jonge, Bram & Teunter, Ruud & Tinga, Tiedo, 2017. "The influence of practical factors on the benefits of condition-based maintenance over time-based maintenance," Reliability Engineering and System Safety, Elsevier, vol. 158(C), pages 21-30.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:jorsoc:v:60:y:2009:i:1:d:10.1057_jors.2008.174. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.