Managing Information Risks in asset management - Experiences from an in-depth case study in the utility industry

Information is one of the most important resources in our globalized economy. The value of information often exceeds the value of physical assets. Information quality has, in many ways, an impact on asset management organisations and asset managers struggle to understand and to quantify it, which is a prerequisite for effective information quality improvement. Over the past few years, we have developed an innovative management concept that addresses these new asset management challenges: a process for Total Information Risk Management (TIRM), which has been already tested in a number of asset management industries. The TIRM process enables to manage information quality more effectively in asset management organisations as it focuses specifically on the risks that are imposed by information quality. In this paper, we show how we have applied the TIRM process in an in-depth study at a medium-sized European utility provider, the Manx Electricity Authority (MEA), at the Isle of Man.

Remote Wireless Communications for Construction Management: A Case Study

The recent advances in urban wireless communications and protocols that spurred the development of city-wide wireless infrastructure motivated this research, since in many cases, construction sites are not conveniently located for wired connectivity. Large scale transportation projects for example, such as new highways, railroad tracks and the networks of utilities (power-lines, phone lines, mobile towers, etc) that usually follow them are constructed in areas where wired infrastructure for data exchange is often expensive and time-consuming to deploy. The communication difficulties that can be encountered in such construction sites can be addressed with a wireless communications link between the construction site and the decision-making office. This paper presents a case study on long-range, wireless communications suitable for data exchange between construction sites and engineering headquarters. The purpose of this study was to define the requirements for a reliable wireless communications model where common types of electronic construction data will be exchanged in a fast and efficient manner, and construction site personnel will be able to interact and share knowledge, information and electronic resources with the office staff.

A systematic approach for improving the quality of official statistics: Case of Korean information and telecommunication industry

With the rapid growth of information and communication technology (ICT) in Korea, there was a need to improve the quality of official ICT statistics. In order to do this, various factors had to be considered, such as the quality of surveying, processing, and output as well as the reputation of the statistical agency. We used PLS estimation to determine how these factors might influence customer satisfaction. Furthermore, through a comparison of associated satisfaction indices, we provided feedback to the responsible statistics agency. It appears that our model can be used as a tool for improving the quality of official ICT statistics. © 2008 Elsevier B.V. All rights reserved.

Total Information Risk Management

This book provides you with all fundamental concepts, guidelines and tools to ensure core business information is identified, protected and used effectively, written in a language that is clear and easy to understand for non-technical ...

An architecture design with data model for product recovery management systems

Due to concerns about environmental protection and resource utilization, product lifecycle management for end-of-life (EOL) has received increasing attention in many industrial sectors including manufacturing, maintenance/repair, and recycling/refurbishing of the product. To support these functions, crucial issues are studied to realize a product recovery management system (PRMS), including: (1) an architecture design for EOL services, such as remanufacturing and recycling; (2) a product data model required for EOL activity based on international standards; and (3) an infrastructure for information acquisition and mapping to product lifecycle information. The presented works are illustrated via a realistic scenario. © 2008 Elsevier B.V. All rights reserved.

INFORMATION VISUALIZATION TO SUPPORT MANAGEMENT DECISIONS

Information visualization can accelerate perception, provide insight and control, and harness this flood of valuable data to gain a competitive advantage in making business decisions. Although such a statement seems to be obvious, there is a lack in the literature of practical evidence of the benefit of information visualization. The main contribution of this paper is to illustrate how, for a major European apparel retailer, the visualization of performance information plays a critical role in improving business decisions and in extracting insights from Redio Frequency Idetification (RFID)-based performance measures. In this paper, we identify - based on a literature review - three fundamental managerial functions of information visualization, namely as: a communication medium, a knowledge management means, and a decision-support instrument. Then, we provide - based on real industrial case evidence - how information visualization supports business decision-making. Several examples are provided to evidence the benefit of information visualization through its three identified managerial functions. We find that - depending on the way performance information is shaped, communicated, and made interactive - it not only helps decision making, but also offers a means of knowledge creation, as well as an appropriate communication channel. © 2014 World Scientific Publishing Company.

A systematic approach to materials information management for aerospace design

The materials information requirements of the aerospace sector are considered, specifically 'consolidation' (management of raw test data), 'analysis' (investigation of material trade-offs) and 'dissemination (secure distribution of data throughout an organization). An information architecture that satisfies the complex requirements of the aerospace materials industry is discussed and a case-study is presented. © 2003 by Granta Design Limited. Published by the American Institute of Aeronautics and Astronautics, Inc.

Total Information Risk Management

This book provides you with all the fundamental concepts, guidelines and tools to ensure core business information is identified, protected and used effectively, and written in a language that is clear and easy to understand for non ...