Infrastructure Decay Modeling With the Input-Output Inoperability Model

2015 ◽  
Vol 1 (1) ◽  
Author(s):  
Vhance V. Valencia ◽  
Alfred E. Thal ◽  
John M. Colombi ◽  
William E. Sitzabee
Keyword(s):  
Asset Management ◽  
Input Output ◽  
Infrastructure Systems ◽  
Cascading Effects ◽  
Multiple Networks ◽  
Infrastructure Network ◽  
Asset Managers ◽  
Infrastructure Interdependency ◽  
Interdependent Infrastructure

Asset management and infrastructure interdependency concepts are found to be useful in the study of infrastructure decay. As such, infrastructure decay is modeled with the input-output inoperability model (IIM), which is a method of analysis that captures cascading effects of a disturbance in interdependent infrastructure systems. This paper presents an extension to the IIM that simplifies the construction of the interdependency matrix central to the model and integrates the use of component decay curves for each component in the system. The revised model results in the ability of infrastructure asset managers to recognize the effect of decay across an entire infrastructure network or multiple networks.

scholarly journals Resilience Assessment of Interdependent Infrastructure Systems: A Case Study Based on Different Response Strategies

2019 ◽  
Vol 11 (23) ◽  
pp. 6552 ◽  
Author(s):  
Kong ◽  
Simonovic ◽  
Zhang
Keyword(s):  
Evaluation Method ◽  
Systems Approach ◽  
Numerical Test ◽  
Infrastructure Systems ◽  
Response Strategies ◽  
Infrastructure Network ◽  
Infrastructure System ◽  
Resilient Infrastructure ◽  
Different Response ◽  
Interdependent Infrastructure

Resilient infrastructure systems are essential for continuous and reliable functioning of social and economic systems. Taking advantage of network theory, this paper models street network, water supply network, power grid and information infrastructure network as layers that are integrated into a multilayer network. The infrastructure interdependencies are described using five basic dependence patterns of fundamental network elements. Definitions of dynamic cascading failures and recovery mechanisms of infrastructure systems are also established. The main contribution of the paper is a new infrastructure network resilience measure capable of addressing complex infrastructure system, as well as network component (layer) interdependences. The new measure is based on infrastructure network performance, proactive absorptive capacity and reactive restorative capacity, with three resilience features of network—robustness, resourcefulness, and rapidity. The quantitative resilience measure using dynamic space-time simulation model is illustrated with a multilayer infrastructure network numerical test, including different response strategies to floods of different scale. The results demonstrate that the resilience measure provides an evaluation method of various protection and restoration strategies that will optimize the performance of interdependent infrastructure system. The sector-specific decisions could not always lead to optimal system solutions, and systems approach offers significant benefits for increasing infrastructure system resilience. This study can assist municipal decision makers in (i) better understanding the effects of different response strategies on the resilience of interdependent infrastructure system, and (ii) deciding which strategy should be adopted under different types of disasters.

Asset Allocation Strategies and Commodities

2018 ◽  
Author(s):  
Claudio Boido
Keyword(s):  
Asset Allocation ◽  
Asset Management ◽  
Central Banking ◽  
Fixed Income ◽  
Fixed Income Securities ◽  
Asset Classes ◽  
Alternative Beta ◽  
Asset Managers ◽  
Selection Of ◽  
Allocation Strategies

As a result of the financial crisis of 2007–2008 and subsequent central banking decisions, the asset management industry changed its asset allocation choices. Asset managers are focusing their attention on the search for new asset classes by taking advantage of the new opportunities to capture risk premia with the aim of exceeding the returns given by traditional investments, including traded equities, fixed income securities, and cash. By doing so, they are trying to improve the selection of alternative assets, such as commodities that sometimes have relatively low correlations with traditional assets. The chapter begins by describing the principles of asset allocation, distinguishing between passive and active asset allocation, also focusing on beta and alternative beta. It then concentrates on how investors can gain exposure to commodities through different investment vehicles and strategies.

Investment Management and the Investment Chain

2017 ◽  
Author(s):  
Diane-Laure Arjaliès ◽  
Philip Grant ◽  
Iain Hardie ◽  
Donald MacKenzie ◽  
Ekaterina Svetlova
Keyword(s):  
Decision Making ◽  
Asset Management ◽  
Investment Decisions ◽  
Investment Management ◽  
Money Flows ◽  
Central Argument ◽  
A Chain ◽  
Asset Managers

Chapter 1 introduces the idea of the chain as related to investment management. It highlights the increasing importance and influence of the asset management industry and argues that, despite this fact, the behaviour and decision-making of asset managers has been little studied. The chapter suggests that investment decisions today cannot be understood by focusing on isolated investors. Rather, most of their money flows through a chain: a sequence of intermediaries that ‘sit between’ savers and companies/governments. The chapter introduces the central argument of the book that investment management is shaped profoundly by the opportunities and constraints that this chain creates.

Performance of physical asset management using the analytic hierarchy process

2019 ◽  
Vol 37 (3) ◽  
pp. 327-345 ◽  
Author(s):  
Fawzeia Abdulla Al Marzooqi ◽  
Matloub Hussain ◽  
Syed Zamberi Ahmad
Keyword(s):  
Analytic Hierarchy Process ◽  
Asset Management ◽  
Analytic Hierarchy ◽  
Content Type ◽  
Equal Importance ◽  
The Analytic Hierarchy Process ◽  
Physical Asset ◽  
The Impact ◽  
Hierarchy Process ◽  
Asset Managers

Purpose The purpose of this paper is to explore certain resources, capabilities and competencies needed to improve the performance of physical asset management (PAM). Design/methodology/approach The analytic hierarchy process (AHP) is used to select and prioritize the most appropriate factors for improving performance. A multi-criteria approach is used to analyze and compare the importance of 6 main criteria and 18 subcriteria identified from a survey of relevant literature. Findings The study revealed that not all factors are viewed as having equal importance in improving PAM performance, as three of the main factors attained greater importance among the six factors. Research limitations/implications This study explored the factors required for managing assets only within the third stage of asset lifecycle, that is, the utilization stage. It is recommended that future studies be conducted in such a way as to determine the importance of similar factors in the other stages of the asset lifecycle, or to identify new factors and add new criteria. Practical implications Knowledge of the differential impacts of the factors on the performance of PAM can impact asset managers and decision makers in their allocation of resources and focus their work on the highest-ranked rather than the lowest-ranked factors. Also, AHP used provides an effective mean for asset managers to identify priorities among decision criteria in their organization. Originality/value To date, no study has explored the impact of six combined factors on the performance of PAM. Previous studies have found that these factors each had equal importance. However, their relative ranking in practice and when they appear together have remained unrecognized.

Hong Kong Securities and Futures Commission (SFC) highlights operating, control and compliance deficiencies in asset management industry

2018 ◽  
Vol 19 (1) ◽  
pp. 63-68 ◽  
Author(s):  
Anne-Marie Godfrey
Keyword(s):  
Hong Kong ◽  
Asset Management ◽  
Service Providers ◽  
Governance Structures ◽  
Investment Fund ◽  
Extensive Experience ◽  
Investment Funds ◽  
Content Type ◽  
Best Execution ◽  
Asset Managers

Purpose To examine the nine common areas of non-compliance in managing investment funds and discretionary accounts, detailed in a Hong Kong Securities and Futures Commission (SFC) circular dated September 15, 2017, directed at SFC-licensed asset managers. Design/methodology/approach Discusses a July 2017 circular indicating the SFC’s general concerns and analyzing the following nine common areas of non-compliance cited in the September 15, 2017 circular: (1) inappropriate receipt of cash rebates giving rise to apparent conflicts of interests, (2) failure to follow investment-suitability and discretionary account mandates during solicitation, (3) failure to implement liquidity-risk management processes, (4) deficiencies in governance structures and fair-valuation procedures, (5) deficiencies in systems for ensuring best execution, (6) failure to safeguard fair order allocation, (7) inadequate controls for protection of client assets, (8) inadequate systems to comply with investment restrictions, and (9) inadequate safeguards to address market misconduct risk. Findings The nine examples of non-compliance provide a useful insight into key “problem areas” indicated to currently be of particular concern to the SFC. Practical implications All SFC-licensed asset managers would be well advised to revisit their internal governance structures and operational policies and procedures in order to ensure that they are compliant with applicable standards and requirements. Originality/value Practical guidance from a lawyer with extensive experience advising investment managers and advisers, fund administrators, trustees and other fund service providers on investment fund-related issues.

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