Almeida, Nuno

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        Revista de Ativos de Engenharia (Volume 2, Número 2) 1 Editorial — Notes on sustainability and the lifecycle management of constructed assets Editorial — Apontamentos sobre sustentabilidade e gestão do ciclo de vida de ativos construídos 10.29073/rae.v2i2.942  Nuno de Almeida , Instituto Superior Técnico, Portugal, nunomarquesalmeida@tecnico.ulisboa.pt. Asset management is recognized as a catalyst for sustainable development. Asset management mainly contributes to achieving 7 (out of 17) of the United Nations Sustainable Development Goals (ISO/TC 251, 2018): clean water and sanitation, renewable energy, decent jobs and economic growth, innovation and infrastructure, sustainable cities and communities, responsible consumption and combating climate change. The core principle of asset management is value realization from assets (GFMAM, 2016; ISO 55000, 2024; The IAM, 2022). Achieving sustainable value is thus the aim of applying asset management to different areas of economic activity and different asset types. Engineering asset management (asset management applied to engineering assets) is a very important subset of asset management, as engineering assets and asset systems (Fig. 1) cover both physical and non-physical items that consume not only significant financial resources from public and private budgets, but also other forms of capital (natural, social, manufactured, intellectual, etc.). Engineering asset management is a subset of asset management currently attracting much attention from the scientific community (Fig. 2). This subject area deals, for example, with constructed assets (infrastructure, buildings, industrial facilities, equipment, etc.). Disciplines such as risk management and project management can be combined in this context and act as a bridge for the embedding of asset management principles in the AECO industry (Amadi-Echendu, 2016; Azevedo, 2019), thus supporting Engineering Asset Management (EAM) as a key enabler of sustainable construction (Maletič et al., 2018) (Fig. 3). Figure 1: The fundamental nature of engineering assets (adapted from Amadi-Echendu et al., 2010).         Revista de Ativos de Engenharia (Volume 2, Número 2) 2 Figure 2: Distribution of publications about “asset management” by subject area (Diop et al., 2022). Figure 3: Management framework for sustainable construction (adapted from ISO/TS 12720, 2014) EAM is a medium/long-term perspective oriented towards realizing value from engineered assets throughout their entire life cycle (Azevedo C, 2019; Dewan & Smith, 2005; Woodhouse, 2019) (Fig. 3). This editorial briefly discusses constructed physical assets to illustrate how EAM accounts for both the present and future needs and Users (needs)Profissionals (practices)Idea                               Decision making processos              EndPROFISSIONALS AND OTHER STAKEHOLDERSPROFISSIONALS AND OTHER STAKEHOLDERSNATURE NATURECradle                     Product-oriented processes (physical life cycle) GraveProject Engineering Asset ManagementConstructedasset systems        Revista de Ativos de Engenharia (Volume 2, Número 2) 3 expectations of society, in general, and, for example, in the case of constructed assets, the various stakeholders of the AECO industry, in particular.  Organizations responsible for investing in the acquisition or renovation (CAPEX) and for the operation and maintenance expenses (OPEX) associated with constructed assets, have been progressively adopting asset and risk management principles, combined, in view of creating and protecting value and transparently demonstrate optimal lifecycle management decisions and overall performance, including in terms of whole of life cycle costs (TOTEX) (Woodhouse, 2019). Risk management is significant in this context (Al‐Bahar & Crandall, 1990; Campos & Moreira, 2022; Chapman, 2006; Komljenovic et al., 2019; Osei-Kyei et al., 2022; Wijnia & de Croon, 2015) because it can translate into simple terms the impacts arising from decisions made at the early stages of the life cycle of constructed assets (pre-construction stages) and the influence and repercussions extending beyond the moment when those decisions are made (construction and/or post-construction phases of constructed assets), in terms not only of costs but also of the overall performance of the assets created/acquired (adapted from Amadi-Echendu, 2016) (Fig. 4). Risk management is particularly suitable to create and protect value deriving from the organizations and projects of the AECO industry. This approach became particularly popular in different contexts following the publication, in 2009, of the first version of the international standard ISO 31000 with principles and guidelines on risk management. This international standard boosted the use of several risk management techniques that were already being applied by engineering professionals in different contexts for several decades (ISO 31010, 2019). Asset management, used in combination with risk management, provides a proper framework to enable a systematic consideration of a medium/long-term perspective focused on realizing value from constructed assets throughout their entire life cycle (Fig. 5). The balancing of costs and risks needs to be achieved in a way that accounts for the needs for innovation and modernization and the accounting for various uncertainties associated with the long life cycles of the physical assets of the AECO industry (Parlikad & Srinivasan, 2016). This is particularly challenging for various reasons, one of which being that the stakeholders of this industry have different motivations and even conflicting goals. Figure 4: Representation of the impact of decisions throughout the lifecycle of constructed assets (adapted from Hendrickson, 2008; PMI, 2016).  DesignLow HighCost of changes? Construction Use/operation/maintenanceStrategic planningOpportunities to influence decisionsand optimize life cycle decisionsRehabilitation/demolition        Revista de Ativos de Engenharia (Volume 2, Número 2) 4 Figure 5: Life cycle management approach to constructed assets and asset systems (adapted from Amadi-Echendu, 2016). This issue of RAE includes the publication of selected research and industry contributions presented in the 2nd Portuguese Congress on Engineering and Asset Management & the 1st Ibero-American Congress on Engineering and Asset Management (CONGREGA 2024), held at the FIL Meeting Centre in Lisbon, from 3–5 July 2024. References Parkila, A., & Srinivasan, R. (2016). Whole-Life Value-Based Decision Making in Asset Management. Cambridge Centre for Smart Infrastructure & Construction. https://www.icevirtuallibrary.com/isbn/9780727760616 Al-Bahar, J. F., & Crandall, K. C. (1990). Systematic Risk Management Approach for Construction Projects. Journal of Construction Engineering and Management, 116(3), 533–546. https://doi.org/10.1061/(ASCE)0733-9364(1990)116:3(533) Almeida, N. (2023). Fundamentos e perspetivas de inovação na gestão de ativos de engenharia. Revista de Ativos de Engenharia, 1(1), 05–16. https://doi.org/10.29073/rae.v1i1.644 Amadi-Echendu, J. (2016). Recognition of academic programmes in Engineering Asset Management. In WCEAM 2016 (Ed.), 11th World Congress on Engineering Asset Management. Amadi-Echendu, J. E., Willett, R., Brown, K., Hope, T., Lee, J., Mathew, J., Vyas, N., & Yang, B.-S. (2010). What is engineering asset management? In J. E. Amadi-Echendu, R. Willett, K. Brown, T. Hope, J. Lee, J. Mathew, N. Vyas, & B.-S. Yang (Eds.), Engineering asset management: Towards improving maintenance performance (pp. 3–16). Springer London. https://doi.org/10.1007/978-1-84996-178-3_1 Azevedo, C. (2019). Asset management insights: Phases, practices and values. Industrial Press. Campos, V. R., & Moreira, D. J. S. (2022). Risk assessment with multi-attribute utility theory for building projects. Journal of Building Pathology and Rehabilitation, 7(1). https://doi.org/10.1007/S41024-022-00241-7 Chapman, C. (2006). Key points of contention in framing assumptions for risk and uncertainty management. International Journal of Project Management, 24(4), 303–313. https://doi.org/10.1016/J.IJPROMAN.2006.01.006 Dewan, S. A., & Smith, R. E. (2005). Valuing Pavement Network Assets and Use of Values as Decision Supports. Journal of Infrastructure Systems. https://doi.org/10.1061/(asce)1076-0342(2005)11:4(202) CONSTRUCTIONPRE-CONSTRUCTION POST-CONSTRUCTIONASSET MANAGEMENT: VALUE REALIZATIONRISK MANAGEMENT: VALUE CREATION AND PROTECTIONMAXIMIZE OPPORTUNITIESInvestment decisionsFunding/financingOwnership issuesColaboration arrangementsIMPLEMENT OPPORTUNITIES/MITIGATE RISKSPlanning, Implementation and ControlComissioningMAXIMIZE VALUEBalance performance, cost and riskExplore options and alternative usesDecomissioning        Revista de Ativos de Engenharia (Volume 2, Número 2) 5 Dieter, J. (2020). Asset taxonomy: ALN proposal for ASTM E53. Diop, I., Abdul-Nour, G. G., & Komljenovic, D. (2022). A high-level risk management framework as part of an overall asset management process for the assessment of Industry 4.0 and its corollary Industry 5.0 related new emerging technological risks in socio-technical systems. American Journal of Industrial and Business Management, 12(7), 1286–1339. https://doi.org/10.4236/ajibm.2022.127071 GFMAM. (2016). The Value of Asset Management to an Organization — First Edition. Global Forum on Maintenance and Asset Management. Global Forum of Maintenance and Asset Management. (2014). The asset management landscape (2nd ed.). www.gfmam.org Hendrickson, C. H. C., & A. T. (2008). Project Management for Construction - Fundamental Concepts for Owners, Engineers, Architects and Builders. Prentice-Hall International Series In Civil Engineering and Engineering Mechanics, on-Line Edition. https://www.cmu.edu/cee/projects/PMbook/ ISO 31000. (2018). ISO 31000:2018 — Risk management — Guidelines. International Organization for Standardization. ISO 55000. (2014). ISO 55000:2024 — Asset management — Vocabulary, overview and principles. International Organization for Standardization. ISO/TS 12720. (2014). Sustainability in buildings and civil engineering works — Guidelines on the application of the general principles in ISO 15392. International Organization for Standardization. Komljenovic, D., Abdul-Nour, G., & Boudreau, J.-F. (2019). Decision-Making in Asset Management Under Regulatory Constraints (pp. 323–332). Springer, Cham. https://doi.org/10.1007/978-3-319-95711-1_32 Maletič, D., Maletič, M., Al-Najjar, B., & Gomišček, B. (2018). Development of a Model Linking Physical Asset Management to Sustainability Performance: An Empirical Research. Sustainability, 10(12), 4759. https://doi.org/10.3390/su10124759 Márquez, A. C., de León, P. M., Fernández, J. F. G., Márquez, C. P., & Campos, M. L. (2009). The maintenance management framework: A practical view to maintenance management. Journal of Quality in Maintenance Engineering, 15(2), 167–178. https://doi.org/10.1108/13552510910961110 Martens, P., Moll, P., Swilling, M., & Thomas, C. J. (2012). Transdisciplinary research in sustainability science: Practice, principles, and challenges. Sustainability Science, 7, 25–43. https://doi.org/10.1007/s11625-011-0149-x Osei-Kyei, R., Narbaev, T., & Ampratwum, G. (2022). A Scientometric Analysis of Studies on Risk Management in Construction Projects. Buildings, 12(9). https://doi.org/10.3390/BUILDINGS12091342 PMI. (2016). Construction Extension to the PMBOK® Guide. In Inc. Project Management Institute (Ed.), Project Management Institute. https://doi.org/10.1002/pmj The Institute of Asset Management. (2022). The case for excellence in asset management. www.theIAM.org Too, E. G. (2010). A framework for strategic infrastructure asset management. In J. E. Amadi-Echendu, R. Willett, K. Brown, T. Hope, J. Lee, J. Mathew, N. Vyas, & B.-S. Yang (Eds.), Engineering asset management: Towards improving maintenance performance (pp. 31–62). Springer London. https://doi.org/10.1007/978-1-84996-178-3_3 Wijnia, Y., & de Croon, J. (2015). The Asset Management Process Reference Model for Infrastructures (pp. 447–457). Springer, Cham. https://doi.org/10.1007/978-3-319-15536-4_35         Revista de Ativos de Engenharia (Volume 2, Número 2) 6 Woodhouse, J. (2019). What is the value of asset management? Journal of Infrastructure Asset Management, 6(2), 102–108. https://doi.org/10.1680/jinam.17.00040 Declaração Ética Conflito de Interesse: Nada a declarar. Financiamento: Nada a declarar. Revisão por Pares: Dupla revisão anónima por pares. Todo o conteúdo da RAE — Revista de Ativos de Engenharia é licenciado sob Creative Commons, a menos que especificado de outra forma e em conteúdo recuperado de outras fontes bibliográficas.  

Editorial — Apontamentos sobre sustentabilidade e gestão do ciclo de vida de ativos construídos

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Editorial — Apontamentos sobre sustentabilidade e gestão do ciclo de vida de ativos construídos

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