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Über dieses Buch

This textbook deals with engineering, science, technical, legal, financial, ICT, logistics and people management topics necessary for managing engineered assets such as all man-made tools, gadgets, buildings, equipment, machines, infrastructure, large-scale physical and industrial facilities and systems which pervade all sectors of industry. By coalescing concepts, principles, practices, and practical issues from the relevant multi-disciplines, the book addresses the body of knowledge required for managing engineered assets in the 4IR and Society 5.0 era and beyond.

The book is written for:

Scholars and students who intend to strengthen or acquire knowledge about the concepts, principles, and practice of managing engineered assets;Managers of engineered assets in both the public and private sectors who aim to improve asset management practice for their organisational purposes and missions;Policymakers and regulators in order to improve policymaking, governance, assessment and evaluation frameworks on the management of engineered assets;The broader audience concerned about the sustainable management of engineered assets that constitute our built environment and provide the means for industry and livelihood.

Inhaltsverzeichnis

Frontmatter

Chapter 1. Definitions and Scope

Abstract
This chapter provides a brief articulation of the motivation for managing engineered assets that facilitate and support all facets of human endeavour, livelihood, and industry. The articulation is based on a brief but concise discourse on some of the historical antecedents to the wide ranging cross-disciplinary, inter-disciplinary, trans-disciplinary, and multidisciplinary human endeavour of managing engineered assets. The chapter includes an overview of the grand challenges for engineering in the sustainability driven era of Society 5.0 powered by combinations of 1st, 2nd, 3rd, and 4th industrial revolution (4IR) technologies. This introductory discourse concludes with definitions for ‘asset’ and ‘asset management’.
Joe E. Amadi-Echendu

Chapter 2. Value and Sustainability

Abstract
As a matter of emphasis, it pertinent to reiterate that engineered assets range from artwork, personal gadgets and tools to buildings, equipment, machines, infrastructure, industrial plant, as well as large scale physical facilities, and the cyber-physical conflation of systems that represent the fusing of biochemical, digital, and physical worlds. The discourse in this chapter will highlight the value ethos and the sustainability imperative as fundamental principles for the management of engineered assets. Starting with value as an ethos, the discourse includes investment and valuation concepts as well as a concise discussion on the sustainability imperative. These principles are coalesced from a number of the traditional disciplines involved in the management of engineered assets.
Joe E. Amadi-Echendu

Chapter 3. Technical Principles

Abstract
Many scholars and practitioners whose backgrounds are in the engineering and associated technical disciplines tend to focus on the utilisation stage and thus approach the management of engineered assets from the stance of risk, reliability, and cost. Given this stance, operators and maintainers commonly focus on safety risks as well as risk of malfunction or functional failure of a component, spare part, subassembly, subsystem or the whole asset. The era of Society 5.0 features increasing dependence on hyper-interconnected and interdependent cyber physical systems of engineered assets that are confronted by stressors attributable to VUCA phenomena like the Covid-19 pandemic, climate change, or vis major events, that is, → superior powers or forces which can neither be resisted nor controlled. Therefore, the concepts of resilience and vulnerability have become significantly pertinent for managing interconnected systems of engineered assets, especially because CPSs are embedded within socio-economic systems (SES), and both CPS and SES are encapsulated within the environment and ecology. The discourse here highlights the concepts of reliability, risk, resilience, vulnerability, and condition from a pragmatic viewpoint. Readers interested in detailed treatise of these concepts may refer to other extant literature. Philosophically, these concepts are rooted in the quest of how to deal with uncertainty.
Joe E. Amadi-Echendu

Chapter 4. Practical Concepts

Abstract
The discourse in this chapter focuses on concepts necessary for effective application of the value ethos, the sustainability paradigm, and the technical principles discussed in the preceding chapters. Curiously, these concepts tend to be overlooked or taken for granted; after all, the presumption is that asset management practitioners should be able to plan and organise relevant resources, schedule tasks and compose teams that can make informed decisions to ensure that tasks are executed effectively. The paradoxical effect of trivialising the concepts of planning, scheduling, organising, teaming and decision-making often vitiates the management of engineered assets, notwithstanding that there is widely available software that supposedly embed, formalise and automate these concepts.
Joe E. Amadi-Echendu

Chapter 5. Engineering Asset Management Framework

Abstract
The discourse in this chapter introduces elements that constitute a framework for managing engineered assets. The discourse covers business and natural cycles during the life stages of an asset, the hierarchy and register of assets, as well as standards for the management of assets in the era of Society 5.0 concomitant with 4IR technologies.
Joe E. Amadi-Echendu

Chapter 6. Asset Acquisition Stage

Abstract
The discourse in this chapter highlights issues to be considered when acquiring assets. Although the issues are not unique to the acquisition stage, however, their significance during the acquisition stage is remarkable, especially because, the effects of choices and decisions made during the acquisition stage manifest as challenges to be overcome through the subsequent life stages of an asset. In the parlance of practitioners, the acquisition stage in the life of an asset is often referred to as a ‘capital development project’, therefore, the considerations involve similar issues. For instance, the types of risks encountered in capital development projects also manifest during the acquisition and deployment stage of an asset, and some of the risks particularly impact on readiness to utilise an asset.
Joe E. Amadi-Echendu

Chapter 7. Asset Utilisation Stage

Abstract
The discourse in this chapter is about issues concerning the utilisation stage in the life of an engineered asset. As indicated in the previous chapter, funding and financing, technology, environment and socio-economics/politics issues also prevail during the utilisation stage. The focus here is on issues regarding operations, maintenance, condition and performance assessments, as well as asset management decisions arising thereof.
Joe E. Amadi-Echendu

Chapter 8. Asset Retirement Stage

Abstract
The discourse in this chapter is focused on issues concerning the retirement stage in the life of an engineered asset. The emphasis here is how to implement the asset ‘end-of-life’ recommendations arising as a consequence of condition and performance assessments. Subsequent to condition monitoring and assessment, the initial part of the decision-making is to ascertain whether or not an asset has reached end-of-life, and if so, what the next course of action should be. Additional issues to be considered with the end-of-life recommendations include statutory requirements (e.g., environmental impact), contractual obligations (especially those that arise from the acquisition options), and valuation of the asset.
Joe E. Amadi-Echendu

Chapter 9. SAMP & EAMBoK

Abstract
The discourse in this chapter briefly highlights the pertinent issues of strategic asset management planning and engineering asset management body of knowledge (EAMBoK).
Joe E. Amadi-Echendu
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