Index for asset value measure obtained from condition monitoring digitalized data interpretation. A railway asset management application

Hosted by the Johannes Kepler University, Linz, Austria. May 23-24, 2019The objective of any asset is to provide value to the organization, being the corner stone to get a highest possible economic benefit in a sustainable way. An effective asset value management demands method that allow measuring and comparing the expected value with the real value realized at any time during its life cycle for value informed decision-making. Digitalization is providing new data about events and states related to asset condition and risk, information that can be reinterpreted to generate value measure strategies. This paper presents a proposal of TVO (Total Value of Ownership) model where it is possible to quantify and measure the value, including its monitoring throughout the life cycle of the asset and/or system. Proposed TVO model is focused on Safety, one of the most relevant value factors for Industry and Infrastructure sectors. Asset events and states are intrinsically linked to the defined failure modes. Consequently, it is necessary to structure the system information around the failure modes that have been defined, in order to obtain a value measurement index. A railway use case is presented

Internet of things for building façade traceability: A theoretical framework to enable circular economy through life-cycle information flows

Traceability is considered a crucial requirement to enable Circular Economy (CE). Product and process life-cycledata can facilitate circular asset management preserving the asset’s value over time and reducing resource consumption. Many scholars point out how the loss of traceability data, lacking information reliability, and unstructured data are still barriers to the widespread application of CE. In the building façade sector, an increased interest on traceability is dictated by a growing demand for environmental product certifications. However, these aspects are often limited to collect data at supply chain stage, thus neglecting a huge amount of information produced during the asset service life. To foster an accessible and life-cycle oriented asset traceability, this research investigates the Internet of Things (IoT) as a potentially disruptive technology for sup- porting information management. The objective of this work is twofold: (i) to identify what façade life-cycle information is needed to promote CE and (ii) to clarify the enabling role of IoT in tracking, storing, and sharing such information. Through a scoping review combined with interviews to professionals, a theoretical framework structured on four key elements (stakeholders, information list, information management tools, and IoT) is proposed to fill the literature gap and support façade industry in the circular transition. Further research will have to be conducted to face the digital-physical integration issues and develop business models able to fully exploit traceability information value

BIM business value for asset owners through effective asset information management

The purpose of this paper is to investigate the processes, tools and techniques of strategic asset information management (AIM) for built assets, and how the asset information content enhances the proficiency of asset managers to effectively manage their assets throughout their life cycle by utilising building information modelling (BIM) and asset management (AM) systems. For most asset managers, the problem is not the lack of information about their assets, but the abundance of it, and most especially the absence of established processes and protocols to effectively manage large sets of asset data. Therefore, it is crucial to develop a strategy to control and manage this information in order for asset managers to harness its potential and realise value from their organisation’s information assets. A qualitative case study strategy was used to investigate the effective management of asset data in an AIM system. Seven sets of interviews were conducted and nine respondents were interviewed. These were analysed through qualitative thematic analysis using the NVivo software. The paper identifies six dimensions of value that BIM contributes to AM, which are: management, commerce, efficiency, industry, user and technology value. Also, the paper demonstrates that there is real value to be derived by the asset owner from the effective management of asset information. The study highlights that the value of BIM is not inherent but would require many other processes to deliver value to the organisation. The key value of the paper is that it identifies important techniques for managing asset data and how asset information is collected, organised, stored, controlled, analysed, secured, shared and reported within a virtual AIM system for strategic management-based decision

Conceptual Framework for a Data Model to Support Asset Management Decision-Making Process

Part 4: Product and Asset Life Cycle Management in Smart Factories of Industry 4.0International audienceInformation and data management is nowadays a central issue to support the Asset Management (AM) decision-making process. Manufacturing companies have to take different decisions along the asset lifecycle and at different organisational levels, and, to this end, they require proper information and data management. In the literature, besides the crucial role played by information and data, there is evidence of existing gaps, especially related to information management and integration, and transformation of data into useful information. Thus, a conceptual framework is proposed to guide the definition of a data model to fulfil the previously identified gap. Generally, the framework aims at contributing to the improvement of the integration of information along the AM decision-making process. Specifically, it is intended to be aligned with the AM theory and, in particular, its fundamentals defined in the scientific literature and the ISO 5500x body of standards. Overall, thanks to the improvement of the information management and integration along with the AM decision-making, the expectation is to be capable of achieving more value-oriented decisions for the asset lifecycle

Application of semantic web ontologies for the improvement of information exchange in existing buildings

Purpose: Facilitating the information exchange and interoperability between stakeholders during the life-cycle of an asset can be one of the fundamental necessities for developing an enhanced information exchange framework. Such a framework can also improve the successful accomplishment of building projects. This paper aims to use Semantic Web technologies for facilitating information exchange within existing building projects. Design/methodology/approach: In real-world building projects, the construction industry’s information supply chain may initiate from near scratch when new building projects are started resulting in diverse data structures represented in unstructured data sources, like Excel spreadsheets and documents. Large-scale data generated throughout a building's life-cycle requires exchanging and processing during an asset's Operation and Maintenance (O&M) phase. Building information modelling (BIM) processes and related technologies can address some of the challenges and limitations of information exchange and interoperability within new building projects. However, the use of BIM in existing and retrofit assets has been hampered by the challenges surrounding the limitations of existing technologies. Findings: The aim of this paper is twofold. Firstly, it briefly outlines the framework previously developed for generating semantically enriched 3D retrofit models. Secondly, a framework is proposed focussing on facilitating the information exchange and interoperability for existing buildings. Semantic Web technologies and standards, such as Web Ontology Language and existing AEC domain ontologies are used to enhance and improve the proposed framework. Originality/value: The proposed framework is evaluated by implementing an example application and the Resource Description Framework data produced by the previously developed framework. The proposed approach makes a valuable contribution to the asset/facilities management (AM/FM) domain. It should be of interest to various FM practices for existing assets, such as the building information/knowledge management for design, construction and O&M stages of an asset’s life-cycle

Business System Information Analysis Process Outcome in Hospital General Bengkayang Area

In the application of the outpatient information system business process at the Bengkayang Regional General Hospital, there are still problems faced, namely the occurrence of incompatibility of patient medical data information in the examination section / poly section, resulting in delays in the patient handling process. This is the background for the author to analyze the business process of outpatient system information at the Bengkayang General Hospital using the Business Process Management Life Cycle method. This study aims to determine how effective it is in managing the outpatient information system business process at the Bengkayang Regional General Hospital. The analytical technique used is BPMN, value chain, business area analysis and the method used is the BPM life cycle. The results of this study can support the current business processes for the better. With the addition and improvement of optimal technology, with existing information system technology to obtain a more detailed and complete procedural flow chart. The resulting procedure flow chart will integrate the data in each part of the service unit in the outpatient department, so that the data can be used together between departments so that data duplication can be avoided

วิทยาการข้อมูลและสารสนเทศศาสตร์: ความหมาย ขอบเขต และความเกี่ยวข้อง (Data Science and Information Science: Meaning, Scope and Relations)

บทคัดย่อ วิทยาการข้อมูลและสารสนเทศศาสตร์เป็นสหวิทยาการที่ศึกษาเกี่ยวกับการจัดการข้อมูลและสารสนเทศตามวงจรข้อมูลและสารสนเทศ วิทยาการข้อมูลศึกษาการวิเคราะห์ข้อมูลเพื่อค้นพบคุณค่าที่ซ่อนอยู่และนำข้อมูลไปใช้ประโยชน์ สารสนเทศศาสตร์ศึกษาการจัดการสารสนเทศตามวงจรสารสนเทศเพื่อเตรียมพร้อมใช้งาน ทั้ง 2 ศาสตร์เป็นศาสตร์ที่ประยุกต์ได้ในหลายสาขาวิชา เช่น การบริหารธุรกิจ แพทยศาสตร์ วิศวกรรมศาสตร์ สังคมศาสตร์ เป็นต้น บทความนี้กล่าวถึงความหมาย ขอบเขต การประยุกต์ของวิทยาการข้อมูลและสารสนเทศศาสตร์ รวมทั้งวิเคราะห์เปรียบเทียบความเหมือน ความแตกต่าง และความเกี่ยวข้องกันของวิทยาการข้อมูลและสารสนเทศศาสตร์ Abstract Data science and Information science are interdisciplinary studies about the management of data and information according to the data and information life circle. Data science is how to study data analysis in order to discover insight value and application. Information science is how to study information management according to the information life cycle as a ready application. At present, data and information science have been applied in many disciplines, such as business administration, medicine, engineering, social science, etc. This article presents the meaning, scope, and application of data science and information science in some fields, as well as differences, and the relationship between data science and information science

Relevansi nilai ukuran kinerja dan risiko: tinjauan berdasarkan siklus hidup usaha

AbstractPerformance and risk information have important role in describing the condition of the company. This study aims to explain the relevance of information on the value of performance measures and information on the value of risk to the value of the company in each company’s life cycle. This study used the objects of manufacturing companies listed on the Indonesia Stock Exchange from 2009 to 2016. The research sample was selected using a purposive sampling method with the specified criteria. The variables used in this research includes change in sales growth, capital expenditure, change in operating cash flow, change in return on sales, and change in net income. Meanwhile, the risk assessment used book to market, beta, size, and leverage. Classification of life cycle adopted scoring on age, dividend payout, capital expenditure, and sales growth categorized according to industrial quintiles. This research employed a quantitative approach with multiple regression analysis techniques. The result of the research shows that there is relevance of performance and risk value that at mature stage. However, there is only relevance of risk value at decline stage. In general, this research provides evidence that the relevance of performance information and risk to each life cycle is different. However, this study failed to review the phenomenon of value relevance at the growth stage because of unsupported empirical data. Accordingly, future researches are advised to use alternative business ages as a proxy for the company’s life cycle. This study supports the theory of the relevance of accounting information in business decision making related to the business life cycle. This finding can be a direction for managerial and strategic decision making in the company where the risk value is considered relevant in management decision making, while performance information is the basis for corporate decision making in the mature phase.AbstrakInformasi kinerja dan risiko berperan penting dalam menggambarkan kondisi perusahaan. Penelitian ini bertujuan untuk menjelaskan relevansi informasi nilai ukuran kinerja dan informasi nilai resiko terhadap nilai perusahaan di setiap siklus hidup perusahaan. Penelitian ini menggunakan obyek perusahaan manufaktur yang terdaftar pada Bursa Efek Indonesia periode tahun 2009-2016. Sampel penelitian dipilih berdasarkan metode purposive sampling. Variabel untuk menilai kinerja adalah perubahan pertumbuhan penjualan, belanja modal, perubahan arus kas operasi, perubahan imbal hasil dari penjualan, dan perubahan laba bersih. Sedangkan proksi untuk menilai risiko menggunakan variabel rasio nilai buku terhadap nilai pasar, beta, ukuran perusahaan dan rasio hutang yang dikategorikan menurut kuintil industri. Penelitian ini menggunakan pendekatan kuantitatif dengan teknik analisis regresi berganda. Hasil penelitian menunjukkan bahwa terdapat relevansi nilai kinerja dan risiko pada tahap mature, namun hanya terdapat relevansi nilai risiko pada tahap decline. Secara keseluruhan, penelitian ini membuktikan secara empiris bahwa informasi kinerja dan risiko pada tiap siklus hidup berbeda. Namun studi ini tidak dapat membahas fenomena relevansi nilai pada tahapan growth karena tidak didukung oleh data empiris. Sehubungan dengan itu, penelitian selanjutnya dapat menggunakan alternatif umur usaha sebagai proksi siklus hidup perusahaan. Studi ini mendukung teori relevansi informasi akuntansi dalam pengambilan keputusan usaha yang dihubungkan dengan siklus hidup usaha. Temuan ini diharapkan menjadi arahan bagi pengambilan keputusan strategik di perusahaan, dimana nilai risiko dianggap relevan dalam pengambilan keputusan manajemen, sementara informasi kinerja menjadi dasar pengambilan keputusan perusahaan di tahap mature

Data Preservation, Information Preservation, and Lifecyle of Information Management at NASA GES DISC

Data lifecycle management awareness is common today; planners are more likely to consider lifecycle issues at mission start. NASA remote sensing missions are typically subject to life cycle management plans of the Distributed Active Archive Center (DAAC), and NASA invests in these national centers for the long-term safeguarding and benefit of future generations. As stewards of older missions, it is incumbent upon us to ensure that a comprehensive enough set of information is being preserved to prevent the risk for information loss. This risk is greater when the original data experts have moved on or are no longer available. Preservation of items like documentation related to processing algorithms, pre-flight calibration data, or input-output configuration parameters used in product generation, are examples of digital artifacts that are sometimes not fully preserved. This is the grey area of information preservation; the importance of these items is not always clear and requires careful consideration. Missing important metadata about intermediate steps used to derive a product could lead to serious challenges in the reproducibility of results or conclusions. Organizations are rapidly recognizing that the focus of life-cycle preservation needs to be enlarged from the strict raw data to the more encompassing arena of information lifecycle management. By understanding what constitutes information, and the complexities involved, we are better equipped to deliver longer lasting value about the original data and derived knowledge (information) from them. The NASA Earth Science Data Preservation Content Specification is an attempt to define the content necessary for long-term preservation. It requires new lifecycle infrastructure approach along with content repositories to accommodate artifacts other than just raw data. The NASA Goddard Earth Sciences Data and Information Services Center (GES DISC) setup an open-source Preservation System capable of long-term archive of digital content to augment its raw data holding. This repository is being used for such missions as HIRDLS, UARS, TOMS, OMI, among others. We will provide a status of this implementation; report on challenges, lessons learned, and detail our plans for future evolution to include other missions and services

CloudChain: A novel distribution model for digital products based on supply chain principles

Cloud computing is a popular outsourcing solution for organizations to support the information management during the life cycle of digital information goods. However, outsourcing management with a public provider results in a lack of control over digital products, which could produce incidents such as data unavailability during service outages, violations of confidentiality and/or legal issues. This paper presents a novel distribution model of digital products inspired by lean supply chain principles called CloudChain, which has been designed to support the information management during digital product lifecycle. This model enables connected networks of customers, partners and organizations to conduct the stages of digital product lifecycle as value chains. Virtual distribution channels are created over cloud resources for applications of organizations to deliver digital products to applications of partners through a seamless information flow. A configurable packing and logistic service was developed to ensure confidentiality and privacy in the product delivery by using encrypted packs. A chain management architecture enables organizations to keep tighter control over their value chains, distribution channels and digital products. CloudChain software instances were integrated to an information management system of a space agency. In an experimental evaluation CloudChain prototype was evaluated in a private cloud where the feasibility of applying supply chain principles to the delivery of digital products in terms of efficiency, flexibility and security was revealed.This work was partially funded by the sectorial fund of research, technological development and innovation in space activities of the Mexican National Council of Science and Technology (CONACYT) and the Mexican Space Agency (AEM), project No. 262891