Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Heitz, Christoph | - |
| dc.date.accessioned | 2019-03-06T13:58:03Z | - |
| dc.date.available | 2019-03-06T13:58:03Z | - |
| dc.date.issued | 2016 | - |
| dc.identifier.other | urn:nbn:se:liu:diva-128217 | de_CH |
| dc.identifier.uri | https://digitalcollection.zhaw.ch/handle/11475/15805 | - |
| dc.description.abstract | The economics of production systems depends on how expenses in terms of lifecycle costs for machines are balanced by revenues. Most classical models for optimizing lifecycle decisions are based on a profit maximization paradigm. However, the solutions are strongly dependent on how the technical performance of the machine is translated into monetary units. This is a critical issue because often it is not easy to monetarize non-ideal behavior of machines (e.g. How to monetarize the image damage of the company resulting from a major production outage?). In the present paper, we present a new perspective on the economics of production systems which is not based on a monetary (profit maximization) paradigm. Instead, we model a production system as an object that (a) needs investment, and (b) generates a value for the company, but this value can be expressed in arbitrary units. This is consistent with the approach of the new ISO standard 55’000. In such a framework, it is no more possible to base decision making on maximization of a single objective such as profit, as costs and value are measured in different units and cannot be added. However, many lifecycle decision problems can still be solved. In particular, we discuss typical lifecycle problems such as determining optimal lifetime or optimum maintenance levels. We show that, given a portfolio of machines, the optimum decisions for the single machines can be determined, with exception of a single global parameter that holds for the portfolio as a whole. For our approach, we combine approaches from economic utility theory and multidimensional optimization with lifecycle models of technical assets. | de_CH |
| dc.language.iso | en | de_CH |
| dc.rights | Licence according to publishing contract | de_CH |
| dc.subject | Asset management | de_CH |
| dc.subject | ISO 55000 | de_CH |
| dc.subject.ddc | 658.5: Produktionssteuerung | de_CH |
| dc.title | Optimum lifecycle management of asset portfolios with non-monetary value realization | de_CH |
| dc.type | Konferenz: Paper | de_CH |
| dcterms.type | Text | de_CH |
| zhaw.departement | School of Engineering | de_CH |
| zhaw.organisationalunit | Institut für Datenanalyse und Prozessdesign (IDP) | de_CH |
| zhaw.conference.details | Nineteenth International Working Seminar on Production Economics, Innsbruck, Austria, 22-26 February 2016 | de_CH |
| zhaw.funding.eu | No | de_CH |
| zhaw.originated.zhaw | Yes | de_CH |
| zhaw.pages.end | 170 | de_CH |
| zhaw.pages.start | 159 | de_CH |
| zhaw.parentwork.editor | Grubbström, Robert W. | - |
| zhaw.parentwork.editor | Hinterhuber, Hans H. | - |
| zhaw.publication.status | publishedVersion | de_CH |
| zhaw.publication.review | Peer review (Publikation) | de_CH |
| zhaw.title.proceedings | Nineteenth International Working Seminar on Production Economics, Pre-prints, Volume 2: Papers scheduled for Tuesday, February 24, 2016, 8.00 am to 21.15 pm | de_CH |
| zhaw.funding.zhaw | Optimiertes Asset Management von Infrastrukturnetzen | de_CH |
| Appears in collections: | Publikationen School of Engineering | |
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Heitz, C. (2016). Optimum lifecycle management of asset portfolios with non-monetary value realization [Conference paper]. In R. W. Grubbström & H. H. Hinterhuber (Eds.), Nineteenth International Working Seminar on Production Economics, Pre-prints, Volume 2: Papers scheduled for Tuesday, February 24, 2016, 8.00 am to 21.15 pm (pp. 159–170).
Heitz, C. (2016) ‘Optimum lifecycle management of asset portfolios with non-monetary value realization’, in R.W. Grubbström and H.H. Hinterhuber (eds) Nineteenth International Working Seminar on Production Economics, Pre-prints, Volume 2: Papers scheduled for Tuesday, February 24, 2016, 8.00 am to 21.15 pm, pp. 159–170.
C. Heitz, “Optimum lifecycle management of asset portfolios with non-monetary value realization,” in Nineteenth International Working Seminar on Production Economics, Pre-prints, Volume 2: Papers scheduled for Tuesday, February 24, 2016, 8.00 am to 21.15 pm, 2016, pp. 159–170.
HEITZ, Christoph, 2016. Optimum lifecycle management of asset portfolios with non-monetary value realization. In: Robert W. GRUBBSTRÖM und Hans H. HINTERHUBER (Hrsg.), Nineteenth International Working Seminar on Production Economics, Pre-prints, Volume 2: Papers scheduled for Tuesday, February 24, 2016, 8.00 am to 21.15 pm. Conference paper. 2016. S. 159–170
Heitz, Christoph. 2016. “Optimum Lifecycle Management of Asset Portfolios with Non-Monetary Value Realization.” Conference paper. In Nineteenth International Working Seminar on Production Economics, Pre-Prints, Volume 2: Papers Scheduled for Tuesday, February 24, 2016, 8.00 Am to 21.15 Pm, edited by Robert W. Grubbström and Hans H. Hinterhuber, 159–70.
Heitz, Christoph. “Optimum Lifecycle Management of Asset Portfolios with Non-Monetary Value Realization.” Nineteenth International Working Seminar on Production Economics, Pre-Prints, Volume 2: Papers Scheduled for Tuesday, February 24, 2016, 8.00 Am to 21.15 Pm, edited by Robert W. Grubbström and Hans H. Hinterhuber, 2016, pp. 159–70.
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