By Joe Amadi-Echendu, Changela Hoohlo, Joe Mathew

Engineering asset administration encompasses all kinds of engineered resources together with outfitted setting, infrastructure, plant, gear, structures and elements. Following the discharge of ISO 5500x set of criteria, the ninth WCEAM addresses the highly vital factor of what constitutes the physique of data in Engineering Asset administration. subject matters mentioned by means of Congress delegates are grouped right into a variety of tracks together with options for funding and divestment of resources, operations and upkeep of resources, exams of resources situation, danger and vulnerability, applied sciences and platforms for administration of asset, criteria, schooling, education and certification. those court cases comprise a pattern of the wide variety of subject matters awarded throughout the ninth global Congress on Engineering Asset administration in Pretoria South Africa 28 – 31 October, 2014 and enhances different rising guides and criteria that include the vast ranging concerns in regards to the administration of engineered actual assets.

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Extra info for 9th WCEAM Research Papers: Volume 1 Proceedings of 2014 World Congress on Engineering Asset Management

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1. 2. 3. 4. 5. Labor Savings END OF LIFE COSTS AND SAVINGS 11. ). All these aspects must be considered within a complete TCO model, hence it is necessary to evaluate and to quantify factors that allow predicting the form in which the production processes can lose their operational continuity due to events of accidental failures and to evaluate the impact in the costs that the failures cause in security, environment, operations and production [26, 36]. To this regard, a widely used performance measure in the manufacturing industry is overall equipment effectiveness (OEE) originally introduced by [25, 14].

The important point is that the cost structure must be designed so that the analyst can perform the necessary TCO analysis and trade-offs to suit the objectives of the project and the company concerned [37]. Table 2 shows the CBS that has been defined for the specific case study that is presented in Sect. 4. The specific cost model includes the main cost items that are usually considered by a manufacturing company for evaluating different design solutions for production systems. A relevant issue that must be taken into account and that is mostly undervalued in practice, is the need to include those cost elements that depend on the performance of the system within the cost model.

Spare parts cost 10. 1. 2. 3. 4. 5. Labor Savings END OF LIFE COSTS AND SAVINGS 11. ). All these aspects must be considered within a complete TCO model, hence it is necessary to evaluate and to quantify factors that allow predicting the form in which the production processes can lose their operational continuity due to events of accidental failures and to evaluate the impact in the costs that the failures cause in security, environment, operations and production [26, 36]. To this regard, a widely used performance measure in the manufacturing industry is overall equipment effectiveness (OEE) originally introduced by [25, 14].

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