Description
Book SynopsisSince the publication of the second edition in 2013, there has been an increasing interest in asset management globally, as evidenced by a series of international standards on asset management systems, to achieve excellence in asset management. This cannot be achieved without high-quality data and the tools for data interpretation. The importance of such requirements is widely recognized by industry.
The third edition of this textbook focuses on tools for physical asset management decisions that are data driven. It also uses a theoretical foundation to the tools (mathematical models) that can be used to optimize a variety of key maintenance/replacement/reliability decisions. Problem sets with answers are provided at the end of each chapter. Also available is an extensive set of PowerPoint slides and a solutions manual upon request with qualified textbook adoptions.
This new edition can be used in undergraduate or post-graduate courses on physical asset management.<
Table of Contents
1. Introduction.
2. Component Replacement Decisions.
3. Inspection Decisions.
4. Capital Equipment Replacement Decisions.
5. Maintenance Resource Requirements.
6. The Role of Emerging Technologies in Physical Asset Management.
Appendix 1: Statistics Primer.
Appendix 2: Weibull Analysis.
Appendix 3: Maximum Likelihood Estimator.
Appendix 4: Markov Chains.
Appendix 5: Knowledge Elicitation.
Appendix 6: Time Value of Money: Discounted Cash Flow Analysis.
Appendix 7: List of Applications of Asset Management Decision Optimization Models.
Appendix 8: Ordinates of the Standard Normal Distribution.
Appendix 9: Areas in the Tail of the Standard Normal Distribution.
Appendix 10: Values of Gamma Function.
Appendix 11: Median Ranks Table.
Appendix 12: Five Percent Ranks Table.
Appendix 13: Ninety-Five Percent Ranks Table.
Appendix 14: Critical Values for the Kolmogorov–Smirnov Statistic (dα).
Appendix 15: Answers to Problems.
Index
