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.

Classifying data quality problems in asset management

© Springer International Publishing Switzerland 2015. Making sound asset management decisions, such as whether to replace or maintain an ageing underground water pipe, are critical to ensure that organisations maximise the performance of their assets. These decisions are only as good as the data that supports them, and hence many asset management organisations are in desperate need to improve the quality of their data. This chapter reviews the key academic research on data quality (DQ) and Information Quality (IQ) (used interchangeably in this chapter) in asset management, combines this with the current DQ problems faced by asset management organisations in various business sectors, and presents a classification of the most important DQ problems that need to be tackled by asset management organisations. In this research, eleven semi structured interviews were carried out with asset management professionals in a range of business sectors in the UK. The problems described in the academic literature were cross checked against the problems found in industry. In order to support asset management professionals in solving these problems, we categorised them into seven different DQ dimensions, used in the academic literature, so that it is clear how these problems fit within the standard frameworks for assessing and improving data quality. Asset management professionals can therefore now use these frameworks to underpin their DQ improvement initiatives while focussing on the most critical DQ problems.

An analysis of the passenger to cabin crew ratio and exit reliability based on past survivable aviation accidents

A hotly debated issue in the area of aviation safety is the number of cabin crew members required to evacuate an aircraft in the event of an emergency. Most countries regulate the minimum number required for the safe operation of an aircraft, but these rulings are based on little if any scientific evidence. Another issue of concern is the failure rate of exits and slides. This paper examines these issues using the latest version of Aircraft Accident Statistics and Knowledge database AASK V4.0, which contains information from 105 survivable crashes and more than 2,000 survivors, including accounts from 155 cabin crew members.

Uncertainty propagation in inverse reliability-based design of composite structures

An approach for the analysis of uncertainty propagation in reliability-based design optimization of composite laminate structures is presented. Using the Uniform Design Method (UDM), a set of design points is generated over a domain centered on the mean reference values of the random variables. A methodology based on inverse optimal design of composite structures to achieve a specified reliability level is proposed, and the corresponding maximum load is outlined as a function of ply angle. Using the generated UDM design points as input/output patterns, an Artificial Neural Network (ANN) is developed based on an evolutionary learning process. Then, a Monte Carlo simulation using ANN development is performed to simulate the behavior of the critical Tsai number, structural reliability index, and their relative sensitivities as a function of the ply angle of laminates. The results are generated for uniformly distributed random variables on a domain centered on mean values. The statistical analysis of the results enables the study of the variability of the reliability index and its sensitivity relative to the ply angle. Numerical examples showing the utility of the approach for robust design of angle-ply laminates are presented.

Autonomous guided vehicles applied to industrial engineering and management studies

This article presents a framework to an Industrial Engineering and Management Science course from School of Management and Industrial Studies using Autonomous Ground Vehicles (AGV) to supply materials to a production line as an experimental setup for the students to acquire knowledge in the production robotics area. The students must be capable to understand and put into good use several concepts that will be of utmost importance in their professional life such as critical decisions regarding the study, development and implementation of a production line. The main focus is a production line using AGVs, where the students are required to address several topics such as: sensors actuators, controllers and an high level management and optimization software. The presented framework brings to the robotics teaching community methodologies that allow students from different backgrounds, that normally don’t experiment with the robotics concepts in practice due to the big gap between theory and practice, to go straight to ”making” robotics. Our aim was to suppress the minimum start point level thus allowing any student to fully experience robotics with little background knowledge.

Modernizing human resource management : the importance of values-based leadership in the Canadian federal public service /

Over the past several decades, many theories have been advanced as to why efforts to reform the public service have met with only limited success. Clearly, the role of leadership with respect to reform must be examined, since successful organizational leaders should be extremely accomplished in the promotion and protection of the values that underlie decision-making. The issue of effective leadership is particularly significant for the future of the public service of Canada. Large numbers of public servants in the executive ranks are due to retire within the next five years. Given their central role, it is vital that there be enough dedicated and committed public servants to staff future vacancies. It is also essential that future public service leaders possess the competencies and values associated with a world-class public service and, a new type of public organization. Related to this point is the importance of people-management skills. People management in the public service is an issue that has historically faced - and will continue to face - major challenges with respect to recruiting and retaining the leaders it requires for its continued success. It is imperative that the public service not only be revitalized and be seen as an employer of choice, but also that the process by which it accomplishes this goal - the practice of human resource management - be modernized. To achieve the flexibility needed to remain effective, the public service requires the kind ofleadership that supports new public service values such as innovation and which emphasizes a "people- first" approach. This thesis examines the kind of public service leadership needed to modernize the human resource management regime in the federal public service. A historical examination of public service values is presented to help determine the values that are important for public service leaders with respect to modernizing human resource management. Since replenishing the 2 ranks of public service leaders is crucial to ensure the quality of service to Canadians, leadership that supports career planning will be a major focus of this paper. In addition, this thesis demonstrates that while traditional public service values continue to endure, innovative leaders must effectively reconcile new public service values with traditional values in order to increase the possibilities for successful reform as well as achieve business objectives. Much of the thesis is devoted to explaining the crucial role of post-bureaucratic leadership to successful reform. One of the major findings of the thesis is that leaders who demonstrate a blending of new public service values and traditional values are critical to creating effective employment relationships, which are key to modernizing human resource management in the federal public service. It will be apparent that public service leaders must ensure that an appropriate accountability framework is in place before embarking on reform. However, leaders who support new public service values such as innovation and empowerment and who emphasize the importance of people are essential to successful reform.

Personnel Management Practices in the Kerala based Scheduled commercial Banks

The thesis entitled Personnel Management Practices in the Kerala-Based Scheduled Commercial Banks. Personnel management function is of cardinal importance, requiring a sophisticated and scientific approach. In a labour-intensive, service industry like banking. Productivity and ultimate profitability of the entire organization depend considerably on the effectiveness with which personnel management function is executed; and the prudence with which personnel problems are handle. The main objectives of the study are to understand the current status of personnel management functions in the banks and to evaluate the practices in the light of the principles and theories of personnel management so as to identify the strengths and weaknesses. The universe of this study is the eight Scheduled Commercial Banks based in Kerala. The major limitation of the study is that as State Bank of Travancore, the lone public sector bank based in Kerala did not grant permission for collection of data, this study had to be confined to private sector banks only. Almost the entire data used for this study are primary and were collected from the files and other records or the concerned banks. This report has chapters dealing with the functional areas of personnel management such as determination of human resource requirements, recruitment and selection, training and development, performance appraisal, promotions and compensation. Findings reveal that the practice of personnel management in the Kerala-based private sector scheduled commercial banks has not gained a degree of sophistication compatible with its role in modern business management.