May 01, 2013

Asset Management tools

Asset Management (AM) tools are numerous, some are very simple and some are rigorous and costly. However, having tools to manage assets is essential and useful to optimize the cost/benefit. Simple tools such as total productive maintenance, Asset lifecycle costing using Excel, using concurrent decisions for asset investment and use linear programming to optimize work flow using Excel solver.

Such tools are useful for SMEs, however, it should not only be exclusive for SMEs unless a more effective systems is in place. Assets are the source of income for businesses, therefor, assets are managed to operate them in the most cost effective manner and optimize there performance and lifecycle. The use of AM tools facilitates this process to manage in the most effective manner.

When i go back to work, it would be useful to assess the current practises of asset management and analyze the current tools used. Any of these tools can be effective for a starting point to get focus on this aspect. For example, using Linear programming to optimize the occupation% of a device against its lifecycle can show the optimum utlilization. This will also help the department have an awareness of AM and take its associated aspects into consideration.


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  • Good point, you dont have to consider it while using the decision tree as the available data is limi… by Ahmed Alali on this entry
  • Good point Bu Salim. However, i failed to mention that a decision objective is linked to the busines… by Ahmed Alali on this entry
  • I do agree with you Ahmed that certain modification enhance GA performance, however, even if someone… by Waddah Alharthi on this entry
  • as u said, the time scaling and sentivity need to be taken into account… i agree but do u think in… by Tzu-i Yang on this entry
  • i agree with u … choosing tools is not easy… we might fall into trap info….it was whyi decisio… by Tzu-i Yang on this entry

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