Defining Asset Management processes
Kolehmainen, Kai (2021)
2021
Johtamisen ja tietotekniikan DI-ohjelma - Master's Programme in Management and Information Technology
Johtamisen ja talouden tiedekunta - Faculty of Management and Business
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Hyväksymispäivämäärä
2021-11-09
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:tuni-202111028107
https://urn.fi/URN:NBN:fi:tuni-202111028107
Tiivistelmä
The purpose of this thesis was to evaluate the practices of asset management in a Finnish railway company, VR Group based on available literature and the ISO 55001 standard. A qualitative research design was employed to answer the three research questions regarding asset management interfaces, maintenance, and processes of establishing the fundamentals. The results reveal the importance of the operation interface during planning and control of rail infrastructure. ISO 55001 emphasize on the need for establishing all functions undertaken by a rail company to successfully integrate asset management controls and plans.
According to ISO 55001, policies ensure good organizational practice by providing statement of intent by the top management group. For the railway company to sustain sustainable policies, communication between the leadership and stakeholders is important. The research found out that awareness of the policy, especially among internal stakeholders played a vital role in enhancing the efficiency of asset management practices. ISO 55001 is concerned with the requirements for constructing a reliable and productive asset management system. Therefore, this standard outlines a model for identifying appropriate policies, goals, and governance needed for accomplishing strategic objectives of a company.
Various design and maintenance activities represent the major operations performed by railway organizations. Assessment of asset condition and necessitated levels of service from rail networks are discussed under the performance metrics. Forecasting and performance modeling coupled with funding assessment comprise the needs analysis section. On the other hand, program optimization and alternative assessment are identified under the program analysis section. Primarily, business operations consist of information, technological capabilities, and capabilities within a railway company. These operations are necessary for the rail company to appropriately describe the various inputs and outputs associated with asset components and demonstrate the key stakeholders of these inputs and outputs. Operation’s key output includes accountabilities and roles among members. Regardless of possible research biases and limitations, the study outcomes comprehensively answer the three research questions.
The research examines various organizational responsibilities and functions associated with the leadership interface. To facilitate effective management of railway infrastructure, leaders must understand their specific roles in ensuring compliance with the standard. Further, the findings describe the asset management phenomenon in a holistic approach using Finnish railway company as the main context of the study. Conclusively, ISO 55001 is an effective and reliable standard for efficient management of railway infrastructure and tracks.
According to ISO 55001, policies ensure good organizational practice by providing statement of intent by the top management group. For the railway company to sustain sustainable policies, communication between the leadership and stakeholders is important. The research found out that awareness of the policy, especially among internal stakeholders played a vital role in enhancing the efficiency of asset management practices. ISO 55001 is concerned with the requirements for constructing a reliable and productive asset management system. Therefore, this standard outlines a model for identifying appropriate policies, goals, and governance needed for accomplishing strategic objectives of a company.
Various design and maintenance activities represent the major operations performed by railway organizations. Assessment of asset condition and necessitated levels of service from rail networks are discussed under the performance metrics. Forecasting and performance modeling coupled with funding assessment comprise the needs analysis section. On the other hand, program optimization and alternative assessment are identified under the program analysis section. Primarily, business operations consist of information, technological capabilities, and capabilities within a railway company. These operations are necessary for the rail company to appropriately describe the various inputs and outputs associated with asset components and demonstrate the key stakeholders of these inputs and outputs. Operation’s key output includes accountabilities and roles among members. Regardless of possible research biases and limitations, the study outcomes comprehensively answer the three research questions.
The research examines various organizational responsibilities and functions associated with the leadership interface. To facilitate effective management of railway infrastructure, leaders must understand their specific roles in ensuring compliance with the standard. Further, the findings describe the asset management phenomenon in a holistic approach using Finnish railway company as the main context of the study. Conclusively, ISO 55001 is an effective and reliable standard for efficient management of railway infrastructure and tracks.