Empirically Based Asset Management Decision Support for Reliable and Cost Effective Asset Operation

Michael Schenk () and Frank Ryll ()
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Michael Schenk: Fraunhofer Institute for Factory Operation and Automation IFF Magdeburg
Frank Ryll: Fraunhofer Institute for Factory Operation and Automation IFF_ Magdeburg

Theory Methodology Practice (TMP), 2010, vol. 6, issue 02, 69-76

Abstract: This article describes a method that supports asset management decision making so that complex technical assets are operated reliably and cost effectively. It focuses on improving the foundations of planning applied to formulate condition-based maintenance strategies. To this end, it presents a novel empirically based method for determining wear allowances in technical assets. The parameter of wear allowance is referenced to quantify current condition and anticipated changes of condition as a function of asset utilization.

JEL-codes: G12 M41 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:mic:tmpjrn:v:6:y:2010:i:02:p:69-76

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