L21/22: Asset Management - Lifecycle Flashcards Preview

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Flashcards in L21/22: Asset Management - Lifecycle Deck (34):

What is the aim of life cycle asset management?

Lower the life cycle cost and use the money generated to extend the reach within the program.


Different methods to reduce life cycle costs?

1. Maintenance (planned, to reduce Captial Projects)
- Strategic: performed early in lifecycle
- Emergent: reduce need to perform reactive repair
2. Reactive (unplanned, for immediate needs)


What are the Consumer LOS for the need for pavements?

- safe surface to travel on
- smooth surface to travel on
- surface for comfortable driving experience


What are the Technical LOS for the need for pavements?

Structure that:
- protect the subgrade from excessive stresses
- protects the subgrade from moisture
- provides skid resistance
- protects local services


What are potential pressures that would effect an Infrastructure Asset Management Plan?

- safety
- budgets/ programming
- planning
- information management
- legislation
- economic erosion
- public
- permits
- staff
- traffic
- engineering


How does safety pressure an Infrustructure AM Plan?

- keep the public safe
- major concern
- balance cost and safety
- health and safety


How does legislation pressure infrustructure AM plan?

- rules & regulations
- more complex globally
- risk is important


What is the greatest operational challening in expanding your global footprint by entering new territories?

- variation in regulatory reporting requirements


Where have witnessed the most regulatory pressure toward technology transformation to improve transparency?

- risk data


Methods of funding?

- bank loan
- company income
- government
- rates
- investement rates
- global financial market



- political pressure
- public pressure
- election year
- lobbying groups


Framework for achieving objectives (pyramid):

- executive
- mission
- goals/ objectives
- business processes
- information
- infrastructure


Key components of information systems:

- motivation
- time
- people
- function
- data
- network


What is the Zachman framework?

- a "thinking tool" to help understand many complex IT related issues
- A framework for enterprise architecture in an organisation. Not only for designing or engineering the enterprise but also helps in managing enterprise change


Structure for the Zachman Framework

A logical structure for classifying and organising models or descriptive representations of an enterprise
By filling the cells of the Zachman matrix, information systems are automatically aligned with management corporate goals


Benefit of the zachman framework

- Building enterprise models help in accumulating large enterprise knowledge which is needed to accommodate change.
- helps organising development thoughts
- helps developing strategies for creating flexible and agile enterprises


What technology is important to asset managers?

- client reporting
- data management
- risk analytics


What are the 4 systems of System Architecture Patterns?

- Independent Systems
- Interfaced Systems
- Interoperable Systems
- Integrated Systems


Characteristics of independent systems.

Do not share any processes or data


Characteristics of interfaced sytems.

- simply connected systems or subsystems that can exchange information across the common boundary which they share
- systems share data but no processes


Characteristics of interoperable systems.

- provide and accept services from other systems and use the services exchanged to enable them to operate effectively together
- systems share limited processes and data


Characteristics of integrated systems.

- tightly coupled interconnection of different, highly specialised devices, subsystem or systems, into a broader system providing complex functions which require close interactions between its components
- systems share many processes and data


Explain Phase 1: Conceptual Data Model

- Includes a high level definition of the main model entities and the relationship between them
- "high level data model" is generally the same as a "conceptual data model"


Explain Phase 2: A Logical Data Model

- a more detailed design that is generally seen as an intermediary between conceptual and physical design
- includes more specific information, allowing for coding within a database, without necessarily including specific detials that might facilitate coding within on particular DBMS


Explain Phase 3: Physical Data Model

- includes specifics that facilitate coding within a specific database management system (DBMS)
e.g. internal storage structures, access paths and file organisations


Key componenets of Complex Systems:

- autonomous agents
- undefined values
- non linearity


Explain autonomous agents in AM.

- may components that have their own freedom to govern themselves and/or control their own affairs
e.g stakeholders in projects


Explain Undefined Values in AM.

- known values - uncertainties
- known - undefined values
- unknown - undefined values (Black Swan Event)


Explain non-linearity in AM.

- most relationships in AM are dynamic, nonlinear and hard to define
- non linearity due to human interaction with assets, hard to define material properties and external effects


What are the key components to define a complex system?

- system boundary (scope of LOS & project)
- influencing factors (incoming & outgoing pressures)
- nodes (stage in LOS & project lifecycle)
- links (connections/communication between stages/nodes)
- feedback loops


Data needed for AM plan:

- investment costs over the life of the project
- operational costs
- benefits
- discount rate
- risk costs (consequences of failure)


Principals of Infrastructrue information management systems:

- hardware
- software
- data
- processes/ procedures and standards
- people


AM Software considerations

- cost
- available resources
- industry and technology trends
- access
- security/ back up/ contingency palnning
- software support
- supplier stability


AM Attributes considerations

- modularity
- open archnitecture
- interface
- input/ output formats
- set vs customised
- specialised vs enterprise systems