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.

Requirements-based development of an improved engineering change management method

Engineering changes (ECs) are essential in complex product development, and their management is a crucial discipline for engineering industries. Numerous methods have been developed to support EC management (ECM), of which the change prediction method (CPM) is one of the most established. This article contributes a requirements-based benchmarking approach to assess and improve existing methods. The CPM is selected to be improved. First, based on a comprehensive literature survey and insights from industrial case studies, a set of 25 requirements for change management methods are developed. Second, these requirements are used as benchmarking criteria to assess the CPM in comparison to seven other promising methods. Third, the best-in-class solutions for each requirement are investigated to draw improvement suggestions for the CPM. Finally, an enhanced ECM method which implements these improvements is presented. © 2013 © 2013 The Author(s). Published by Taylor & Francis.