Abstract

BURNETT, S.  and  VLOK, P.J.. A simplified numerical decision-making methodology for physical asset management decisions. S. Afr. J. Ind. Eng. [online]. 2014, vol.25, n.1, pp.162-175. ISSN 2224-7890.

The management of physical assets has become a popular field recently, and is acknowledged in many disciplines worldwide. Physical Asset Management (PAM) is a complex subject that requires the participation of many disciplines. Maintenance management, together with accurate and effective decision-making, is vital for achieving successful PAM. The primary objective of this research project was to identify the possibility of simplifying maintenance-related decision-making. With the focus on numerical decision-making techniques, the secondary objective was to investigate the practicality and useability of combining appropriate techniques to create an easily useable and understandable methodology to support maintenance-related decisions. The results confirm the practicality and useability of a simplified numerical decision-making methodology. By concentrating on the core operational questions related to maintenance, and by combining the most appropriate techniques, a simplified numerical decision-making methodology can ease the decision-making process on an operational level. This can accomplish successful PAM in a proactive, preventive and simplified manner.

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