A holistic power systems asset engineering and decision management framework for railway asset managers.

Bruiners, James; Njuguna, James; Agarwal, Abhishek

Abstract

Defining, designing and implementing an asset management system capable of effectively managing assets throughout their life in terms of engineering, financial, digital and stakeholder needs is challenging. Furthermore, governance frameworks of the past have traditionally resulted in 'silo' type asset interventions without considering the total sustainability of system outcomes. In this paper the writers set out a governance framework definition suitable for managing the complex adaptive needs of engineering, financial, digital and stakeholder requirements. In addition, it will set out the components of a framework that can manage complex assemblage of assets by using bottom up aggregation of 'asset realities' and the 'business' or outcomes needs based on stakeholder, socio-economic, technical and or business strategy requirements.

Citation

BRUINERS, J., NJUGUNA, J. and AGARWAL, A. 2022. A holistic power systems asset engineering and decision management framework for railway asset managers. Innovative energy and research [online], 11(9), article 1000303. Available from: https://doi.org/10.4172/2576-1463.1000303

• Journal Article Type: Article
• Acceptance Date: Sep 22, 2022
• Online Publication Date: Sep 29, 2022
• Deposit Date: Oct 11, 2022
• Publicly Available Date: Oct 11, 2022
• Journal: Innovative energy and research
• Print ISSN: 2576-1463
• Publisher: OMICS International
• Peer Reviewed: Peer Reviewed
• Volume: 11
• Issue: 9
• Article Number: 1000303
• DOI: https://doi.org/10.4172/2576-1463.1000303
• Keywords: Asset management system; Governance frameworks; Engineering; Financial; Digital; Stakeholder
• Public URL: https://rgu-repository.worktribe.com/output/1777336