Using the Alliance Form for Operation and Maintenance of Privatized Infrastructures

A significant number of privatizations utilized to operate and maintain critical networked infrastructures have failed to meet contractual expectations and the expectations of the community. The author carried out empirical research ex-ploring four urban water systems. This research revealed that of the four forms of privatization the alliance form was particularly suited to the stewardship of an ur-ban water system. The question then is whether these findings from urban water can be generalised to O&M of infrastructure generally. The answer is increasingly important as governments seek financial sustainability through reapplying the contestability strategy and outsource and privatise further services and activities. This paper first examines the issues encountered with O & M privatisations. Second the findings as to the stewardship achieved by the four case study water systems are unpacked with particular focus upon the alliance form. Third the key variables which were found to have distinct causal links to the stewardship-like behaviour of the private participants in the Alliance case study are described. Fourth the variables which may be crucial to the successful application of the alliance form to the broader range of infrastructures are separated out. Fifth this paper then sets the path for research into these crucial features of the alliance form.

Asset management policies and guidelines of different states in Australia : a comparative analysis

Purpose The purpose of this paper is to explore and compare the asset management policies and practices of six Australian states – New South Wales, Victoria, Queensland, South Australia, Western Australia and Tasmania – to improve understanding of the policy context to best shape policy focus and guidelines. Australian state-wide asset management policies and guidelines are an emergent policy domain, generating a substantial body of knowledge. However, these documents are spread across the layers of government and are therefore largely fragmented and lack coherency. Design/methodology/approach The comparative study is based on the thematic mapping technique using the Leximancer software. Findings Asset management policies and guidelines of New South Wales and Victoria have more interconnected themes as compared to other states in Australia. Moreover, based on the findings, New South Wales has covered most of the key concepts in relation to asset management; the remaining five states are yet to develop a comprehensive and integrated approach to asset management policies and guidelines. Research limitations/implications This review and its findings have provided a number of directions on which government policies can now be better constructed and assessed. In doing so, the paper contributes to a coherent way forward to satisfy national emergent and ongoing asset management challenges. This paper outlines a rigorous analytical methodology to inform specific policy changes. Originality/value This paper provides a basis for further research focused on analyzing the context and processes of asset management guidelines and policies.

Importance of knowledge management processes in a project-based organization : a case study of research enterprise

Knowledge Management (KM) is vital factor to successfully undertake projects. The temporary nature of projects necessitates employing useful KM practices for tackling issues such as knowledge leakiness and rework. The Project Management Office (PMO) is a unit within organizations to facilitate and oversee organizational projects. Project Management Maturity Models (PMMM) shows the development of PMOs from immature to mature levels. The existing PMMMs have focused on discussing Project Management (PM) practices, however, the management of project knowledge is yet to be addressed, at various levels of maturity. This research project was undertaken to investigate the mentioned gap for addressing KM practices at the existing PMMMs. Due to the exploratory and inductive nature of this research, qualitative methods were chosen as the research methodology. In total, three cases selected from different industries: research; mining and government organizations, to provide broad categories for research and research questions were examined using the developed framework. This paper presents the partial findings of undertaken investigation of the research organisation with the lowest level of maturity. The result shows that knowledge creation and capturing are the most important processes, while knowledge transferring and reusing are not as important as the other two processes. In addition, it was revealed that provision of “knowledge about client” and “project management knowledge” are the most important types of knowledge that are required at this level of maturity. In conclusion, the outcomes of this paper shall provide powerful guidance to PMOs at lowest level of maturity from KM point of view.

A comparative study of prognostic model for bearing failure

An effective prognostics program will provide ample lead time for maintenance engineers to schedule a repair and to acquire replacement components before catastrophic failures occur. This paper presents a technique for accurate assessment of the remnant life of machines based on health state probability estimation technique. For comparative study of the proposed model with the proportional hazard model (PHM), experimental bearing failure data from an accelerated bearing test rig were used. The result shows that the proposed prognostic model based on health state probability estimation can provide a more accurate prediction capability than the commonly used PHM in bearing failure case study.

Contributing to computing services to benchmarking asset management knowledge management

Asset management has broadened from a focus on maintenance management to whole of life cycle asset management requiring a suite of new competencies from asset procurement to management and disposal. Well developed skills and competencies as well as practical experience are a prerequisite to maintain capability, to manage demand as well to plan and set priorities and ensure on-going asset sustainability. This paper has as its focus to establish critical understandings of data, information and knowledge for asset management along with the way in which benchmarking these attributes through computer-aided design may aid a strategic approach to asset management. The paper provides suggestions to improve sharing, integration and creation of asset-related knowledge through the application of codification and personalization approaches.

Islamic fund and asset management: The opportunities and challenges of Islamic REITs

Purpose This paper aims to present a review on the issues and challenges for Islamic Funds and Asset Management, particularly the Islamic Real Estate Trusts (I-REITs) available in Malaysia. The key difference between the Islamic and the conventional investment vehicle is mainly the fund needs to adhere to the Shariah framework. Design/methodology/approach The paper reviews and synthesises the relevant literature on the framework of Islamic Asset and Fund Management, particularly the Islamic Real Estate Investment Trusts. The paper then provides insights for further research to address the issues and consider the Shariah framework applicable to other further research works. Findings The paper highlights the opportunities and challenges of Islamic REITs globally. There is a lack of the standardisation in the screening methodology used by the Malaysian I- REITs and Singapore I-REITs as the latter follows the Gulf Cooperation Council (GCC) guideline to capture the investors mainly from the Gulf countries. In term of tenants’ selection, there is similarity between I-REITs and the Socially Responsible Investment (SRI) or ethical investment. The gap between the investments can be bridged if the Islamic funds skewed the investment portfolio towards the social and ethical investment. Even though there is a limitation in the investment universe, I-REITs provide better diversification option and show better performance compared to the equity market during the economic crisis. The introduction of the Shariah-compliant REITs index for Asia Pacific allows the fund managers to benchmark the performance of either the funds or the sector with other investment vehicles. This will encourage more investors to consider I-REIT in the decision making of the asset allocation portfolio and broadening the horizon of the investment. Originality/value The contribution of the study is the examination and analysis of the Shariah framework currently adopted for Islamic REITs. This will assist in the identification of specific issues associated with Islamic REITs that will need to be addressed in the development and application of further research in the aspect of the management and operations to increase the efficiency level and better performance in order to capture more investors in this specific and promising market.

Data driven modeling for power transformer lifespan evaluation

Large sized power transformers are important parts of the power supply chain. These very critical networks of engineering assets are an essential base of a nation’s energy resource infrastructure. This research identifies the key factors influencing transformer normal operating conditions and predicts the asset management lifespan. Engineering asset research has developed few lifespan forecasting methods combining real-time monitoring solutions for transformer maintenance and replacement. Utilizing the rich data source from a remote terminal unit (RTU) system for sensor-data driven analysis, this research develops an innovative real-time lifespan forecasting approach applying logistic regression based on the Weibull distribution. The methodology and the implementation prototype are verified using a data series from 161 kV transformers to evaluate the efficiency and accuracy for energy sector applications. The asset stakeholders and suppliers significantly benefit from the real-time power transformer lifespan evaluation for maintenance and replacement decision support.