Towards an integrated maturity model of asset management capabilities

Mahmood, Muhammad Nateque and Dhakal, Subas Prasad and Wiewiora, Anna and Keast, Robyn and Brown, Kerry (2015) Towards an integrated maturity model of asset management capabilities. In: Proceedings of the 7th World Congress on Engineering Asset Management (WCEAM 2012). Lecture Notes in Mechanical Engineering. Springer International Publishing, pp. 431-441. ISBN 978-3-319-02461-5

Abstract

Asset service organizations often recognize asset management as a core competence to deliver benefits to their business. But, how do organizations know whether their asset management processes are adequate? Asset management maturity models, which combine best practices and competencies, provide a useful approach to test the capacity of organizations to manage their assets. Asset management frameworks are required to meet the dynamic challenges of managing assets in contemporary society. Although existing models are subject to wide variations in their implementation and sophistication, they also display a distinct weakness in that they tend to focus primarily on the operational and technical level and neglect the levels of strategy, policy, and governance as well as the social and human resources—the people elements. Moreover, asset management maturity models have to respond to the external environmental factors, including climate change and sustainability, stakeholders, and community demand management. Drawing on five dimensions of effective asset management—spatial, temporal, organizational, statistical, and evaluation—as identified by Amadi-Echendu et al. [1], this paper carries out a comprehensive comparative analysis of six existing maturity models to identify the gaps in key process areas. Results suggest incorporating these into an integrated approach to assess the maturity of asset-intensive organizations. It is contended that the adoption of an integrated asset management maturity model will enhance effective and efficient delivery of services.


Statistics for USQ ePrint 25956
Statistics for this ePrint Item
Item Type: Book Chapter (Commonwealth Reporting Category B)
Refereed: Yes
Item Status: Live Archive
Additional Information: Permanent restricted access to Published Version due to publisher copyright policy.
Faculty / Department / School: Current - Faculty of Health, Engineering and Sciences - School of Civil Engineering and Surveying
Date Deposited: 03 Nov 2014 04:39
Last Modified: 24 Aug 2016 01:40
Uncontrolled Keywords: asset service organizations; asset management; maturity model
Fields of Research : 09 Engineering > 0905 Civil Engineering > 090505 Infrastructure Engineering and Asset Management
Socio-Economic Objective: E Expanding Knowledge > 97 Expanding Knowledge > 970109 Expanding Knowledge in Engineering
Identification Number or DOI: 10.1007/978-3-319-06966-1_39
URI: http://eprints.usq.edu.au/id/eprint/25956

Actions (login required)

View Item Archive Repository Staff Only