Improving Asset Management under a regulatory view

Eliana Sangreman Lima and Ana Paula Cabral Seixas Costa

Reliability Engineering and System Safety, 2019, vol. 190, issue C, -

Abstract: Organizations from all sectors of the economy have been using ISO 55000:2014 Asset Management standard with the objective to better manage their assets. This is in order to obtain the various benefits of structuring and improving the AM process which includes the enhancement of the efficiency and effectiveness of the assets. Multi-asset organizations that are strongly regulated need instruments to support the decision on which structuring requirements are essential in order to contribute to compliance with the regulatory framework of the sector in which they operate in. To meet this purpose, this paper presents the Regulation-Oriented Model for Asset Management AM-RoM, which embodies a joint analysis of ISO 31000:2018 and ISO 55001:2014. The AM-RoM encompasses a multi-criteria decision method to rank the most critical requirements, based on experts' perceptions. Its relevance goes to the contribution for organizations in the process of inducing improvement and increasing the maturity level of the AM process, while being in compliance with the Regulatory Framework. The validation of the AM-RoM was performed in a Brazilian company of the Electric Energy Transmission Sector.

Keywords: Asset management; Regulatory framework; Electric energy transmission system; Muiti-criteria Decision Analysis (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0951832019300067
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:190:y:2019:i:c:18

DOI: 10.1016/j.ress.2019.106523

Access Statistics for this article

Reliability Engineering and System Safety is currently edited by Carlos Guedes Soares

More articles in Reliability Engineering and System Safety from Elsevier
Bibliographic data for series maintained by Catherine Liu ().