Acta Mechanica Slovaca 2020, 24(3):32-39 | DOI: 10.21496/ams.2020.034

Value Creation in Physical Asset Management: A Case Study

Damjan Maletič1, Viktor Lovrenčić2, Marta Grabowska3, Matjaž Maletič1
1 University of Maribor, Faculty of Organizational Sciences, Kidriceva c. 55a, 4000 Kranj, Slovenia, Address; E-Mails: damjan.maletic@um.si; matjaz.maletic@um.si
2 C&G d.o.o. Ljubljana, Riharjeva ulica 38, 1000 Ljubljana, Slovenia; E-mail: viktor.lovrencic@c-g.si;
3 Poznan University of Technology, Piotrowo Street, No. 3, 60-965 Poznań, Poland; E-mail: marta.grabowska@put.poznan.pl

Physical asset management (PAM) is an important part of any organization as it enables it to realize value from its assets. It focuses on optimizing the life cycle of assets, from conception through use, maintenance, decommissioning and disposal. The purpose of this paper is to present the implementation of the PAM practices. A case study methodology is used to provide insights into the implementation of the PAM practices, with a focus on the maintenance element of PAM. More specifically, it focuses on examining the application of the Value Driven Maintenance (VDM) methodology and its potential benefits for the company. Based on the results of the case study, it is argued that VDM as a methodology has the potential to support the practices of PAM by providing a tool to support the assessment of asset management, identification of potential cost savings, investment decision, etc. Finally, key observations are made to stimulate further studies in the field of PAM.

Keywords: physical asset management; maintenance; value driven maintenance; case study

Published: September 22, 2020  Show citation

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Maletič, D., Lovrenčić, V., Grabowska, M., & Maletič, M. (2020). Value Creation in Physical Asset Management: A Case Study. Acta Mechanica Slovaca, 24(3), 32-39. doi: 10.21496/ams.2020.034
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