Asset health management or (AHM) is the field of study which looks at how to manage the "health" of an asset or assets. This often includes methods to establish asset health and effort to decide the appropriate actions to be taken to manage the assets' health. This also includes the discussion of health at end of life to ensure the asset's full life is used efficiently.
Asset health management includes many different methods which can sometime overlap in their intended scope and methods. Asset health management has become a difficult field to discuss due to the use of the same acronym to describe multiple different approaches and the use of the same approach with different names.
Asset health management can be considered a subset of Asset management.
There is often also a consideration of additional work done to manage the health of multiple assets within the same framework. Sometimes referred to as Fleet health management and falling within the study of Fleet management. Although it is common to need to manage the health of multiple assets they are not always vehicles and frequently of mixed type.[ citation needed ]
When resources are constrained it is a fascinating management problem to consider how best to manage the health of assets. It is rare that assets can be managed in an unconstrained way as resources are always limited by a need to make efficient use of them.
A collection of some standards which are often use to manage the health of assets. This is not intended to be an exhaustive list and will organically improve.
A short list is provided to illustrate the many methods that are some sort of asset health management method or philosophy.
In computing, a data warehouse, also known as an enterprise data warehouse (EDW), is a system used for reporting and data analysis and is considered a core component of business intelligence. Data warehouses are central repositories of integrated data from one or more disparate sources. They store current and historical data in one single place that are used for creating reports. This is beneficial for companies as it enables them to interrogate and draw insights from their data and make decisions.
Finance refers to monetary resources and to the study and discipline of money, currency, assets and liabilities. As a subject of study, it is related to but distinct from economics, which is the study of the production, distribution, and consumption of goods and services. Based on the scope of financial activities in financial systems, the discipline can be divided into personal, corporate, and public finance.
Project management is the process of supervising the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, and budget. The secondary challenge is to optimize the allocation of necessary inputs and apply them to meet pre-defined objectives.
Risk management is the identification, evaluation, and prioritization of risks, followed by the minimization, monitoring, and control of the impact or probability of those risks occurring.
Systems engineering is an interdisciplinary field of engineering and engineering management that focuses on how to design, integrate, and manage complex systems over their life cycles. At its core, systems engineering utilizes systems thinking principles to organize this body of knowledge. The individual outcome of such efforts, an engineered system, can be defined as a combination of components that work in synergy to collectively perform a useful function.
In common usage, evaluation is a systematic determination and assessment of a subject's merit, worth and significance, using criteria governed by a set of standards. It can assist an organization, program, design, project or any other intervention or initiative to assess any aim, realizable concept/proposal, or any alternative, to help in decision-making; or to generate the degree of achievement or value in regard to the aim and objectives and results of any such action that has been completed.
In business, a competitive advantage is an attribute that allows an organization to outperform its competitors.
Usability can be described as the capacity of a system to provide a condition for its users to perform the tasks safely, effectively, and efficiently while enjoying the experience. In software engineering, usability is the degree to which a software can be used by specified consumers to achieve quantified objectives with effectiveness, efficiency, and satisfaction in a quantified context of use.
Quantitative research is a research strategy that focuses on quantifying the collection and analysis of data. It is formed from a deductive approach where emphasis is placed on the testing of theory, shaped by empiricist and positivist philosophies.
In industry, product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from its inception through the engineering, design and manufacture, as well as the service and disposal of manufactured products. PLM integrates people, data, processes, and business systems and provides a product information backbone for companies and their extended enterprises.
Policy analysis or public policy analysis is a technique used in the public administration sub-field of political science to enable civil servants, nonprofit organizations, and others to examine and evaluate the available options to implement the goals of laws and elected officials. People who regularly use policy analysis skills and techniques on the job, particularly those who use it as a major part of their job duties are generally known by the title policy analyst. The process is also used in the administration of large organizations with complex policies. It has been defined as the process of "determining which of various policies will achieve a given set of goals in light of the relations between the policies and the goals."
In research design, especially in psychology, social sciences, life sciences and physics, operationalization or operationalisation is a process of defining the measurement of a phenomenon which is not directly measurable, though its existence is inferred from other phenomena. Operationalization thus defines a fuzzy concept so as to make it clearly distinguishable, measurable, and understandable by empirical observation. In a broader sense, it defines the extension of a concept—describing what is and is not an instance of that concept. For example, in medicine, the phenomenon of health might be operationalized by one or more indicators like body mass index or tobacco smoking. As another example, in visual processing the presence of a certain object in the environment could be inferred by measuring specific features of the light it reflects. In these examples, the phenomena are difficult to directly observe and measure because they are general/abstract or they are latent. Operationalization helps infer the existence, and some elements of the extension, of the phenomena of interest by means of some observable and measurable effects they have.
The Incident Command System (ICS) is a standardized approach to the command, control, and coordination of emergency response providing a common hierarchy within which responders from multiple agencies can be effective.
A water supply network or water supply system is a system of engineered hydrologic and hydraulic components that provide water supply. A water supply system typically includes the following:
Prognostics is an engineering discipline focused on predicting the time at which a system or a component will no longer perform its intended function. This lack of performance is most often a failure beyond which the system can no longer be used to meet desired performance. The predicted time then becomes the remaining useful life (RUL), which is an important concept in decision making for contingency mitigation. Prognostics predicts the future performance of a component by assessing the extent of deviation or degradation of a system from its expected normal operating conditions. The science of prognostics is based on the analysis of failure modes, detection of early signs of wear and aging, and fault conditions. An effective prognostics solution is implemented when there is sound knowledge of the failure mechanisms that are likely to cause the degradations leading to eventual failures in the system. It is therefore necessary to have initial information on the possible failures in a product. Such knowledge is important to identify the system parameters that are to be monitored. Potential uses for prognostics is in condition-based maintenance. The discipline that links studies of failure mechanisms to system lifecycle management is often referred to as prognostics and health management (PHM), sometimes also system health management (SHM) or—in transportation applications—vehicle health management (VHM) or engine health management (EHM). Technical approaches to building models in prognostics can be categorized broadly into data-driven approaches, model-based approaches, and hybrid approaches.
Corporate taxonomy is the hierarchical classification of entities of interest of an enterprise, organization or administration, used to classify documents, digital assets and other information. Taxonomies can cover virtually any type of physical or conceptual entities at any level of granularity.
The following outline is provided as an overview of and topical guide to business management:
Health administration, healthcare administration, healthcare management or hospitalmanagement is the field relating to leadership, management, and administration of public health systems, health care systems, hospitals, and hospital networks in all the primary, secondary, and tertiary sectors.
Training and development involve improving the effectiveness of organizations and the individuals and teams within them. Training may be viewed as related to immediate changes in organizational effectiveness via organized instruction, while development is related to the progress of longer-term organizational and employee goals. While training and development technically have differing definitions, the two are oftentimes used interchangeably and/or together. Training and development have historically been topics within adult education and applied psychology but have within the last two decades become closely associated with human resources management, talent management, human resources development, instructional design, human factors, and knowledge management.
Test management tools are used to store information on how testing is to be done, plan testing activities and report the status of quality assurance activities. The tools have different approaches to testing and thus have different sets of features. Generally they are used to maintain and plan manual testing, run or gather execution data from automated tests, manage multiple environments and to enter information about found defects. Test management tools offer the prospect of streamlining the testing process and allow quick access to data analysis, collaborative tools and easy communication across multiple project teams. Many test management tools incorporate requirements management capabilities to streamline test case design from the requirements. Tracking of defects and project tasks are done within one application to further simplify the testing.