scholarly journals Framework Development of an Asset Manager Selection Based on Risk Management and Performance Improvement Competences

Safety ◽  
2021 ◽  
Vol 7 (1) ◽  
pp. 10
Author(s):  
Damjan Maletič ◽  
Hana Pačaiová ◽  
Anna Nagyová ◽  
Boštjan Gomišček ◽  
Matjaž Maletič
Keyword(s):  
Risk Management ◽  
Performance Improvement ◽  
Asset Management ◽  
Analytic Hierarchy ◽  
Manager Selection ◽  
Novel Approach ◽  
And Performance ◽  
Framework Development ◽  
Hierarchy Process

This research focuses on proposing a framework based on an analytic hierarchy process (AHP) for the selection/evaluation of managers in the field of asset management. A hierarchical structure is constructed, encompassing the set of competences under the role of risk management and performance improvement of the Institute of Asset Management’s (IAM’s) competences framework. It also describes the AHP implementation and illustrates the entire process with an example that uses IAM competences as model criteria. A sensitivity analysis is also carried out to confirm the robustness of the proposed methodology. As per the findings, the AHP was proven to be a usable and reliable method in selecting the most appropriate asset manager. Therefore, it can help organizations to plan and develop the competences they need to meet current and future needs. This study is among the few studies that focus on competence requirements for people working in asset management. As such, a novel approach for selecting managers in the field of asset management is proposed by this study.

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.

scholarly journals Multi-criteria supplier selection using fuzzy analytic hierarchy process: case study from a Brazilian railway operator

2017 ◽  
Vol 14 (3) ◽  
pp. 428 ◽  
Author(s):  
Rodrigo Barbosa de Santis ◽  
Leonardo Golliat ◽  
Eduardo Pestana de Aguiar
Keyword(s):  
Supply Chain ◽  
Analytic Hierarchy Process ◽  
Operations Management ◽  
Supplier Selection ◽  
Standard Procedure ◽  
Fuzzy Analytic Hierarchy Process ◽  
Analytic Hierarchy ◽  
And Performance ◽  
Hierarchy Process

The supplier selection problem has been discussed in literature within the supply chain management subject and it is extremely important due to its impact on the entire supply chain configuration, strategy and performance. This work presents a decision model based on the fuzzy analytic hierarchy process method and its application in a real case of maintenance supplier selection in a large Brazilian railway operator. Eight criteria were adopted - technical capacity, financial status, relationship, operations management, security management, infrastructure, historic performance and costs - for evaluating five potential suppliers. In the case study, both first and second ranked suppliers by the method have been selected by the company for providing the services and the model was adopted as a standard procedure within the organization for contracts over US$ 300,000.

A grey analytic hierarchy process approach to project manager selection

2018 ◽  
Vol 31 (3) ◽  
pp. 749-765 ◽  
Author(s):  
Yakup Çelikbilek
Keyword(s):  
Analytic Hierarchy Process ◽  
Personal Information ◽  
Project Manager ◽  
Software Project ◽  
Decision Matrix ◽  
Analytic Hierarchy ◽  
Content Type ◽  
Energy Company ◽  
Manager Selection ◽  
Hierarchy Process

Purpose Evaluations of grey systems and systems with subjective judgements are always like an impasse for science and companies. Especially, calculations of the problems which include various units are really difficult situations. The purpose of this paper is to propose a grey analytic hierarchy process (G-AHP) for engineering and managerial problems with grey systems to make more clear and objective decisions. Design/methodology/approach Proposed G-AHP approach is applied to project manager selection for a software project of an energy company. The application includes three different units as year, score and assessment. Six engineers are evaluated with 25 criteria in the application. Weights of the factors and assessments are done by three top managers of the company as pairwise comparisons. Other data in the decision matrix are obtained from the personal information and exam results of engineers. Findings Final weights of the criteria and evaluations of engineers are all done with the proposed G-AHP. Obtained results of G-AHP are also compared with grey “VlseKriterijumska Optimizacija I Kompromisno Resenje” results as a validation of the calculations and proposed approach. Final results of the applications are ranked for the evaluations and comparison. All results of the case study are concluded with the effectiveness and applicability of the proposed G-AHP method both for this study and other fields of science, engineering and management. Originality/value This study provides to evaluate and interpret grey systems with different units and subjective judgements for science, engineering and management more clearly and objectively in an easier way.

Clustering Mashups by Integrating Structural and Semantic Similarities Using Fuzzy AHP

2021 ◽  
Vol 18 (1) ◽  
pp. 34-57
Author(s):  
Weifeng Pan ◽  
Xinxin Xu ◽  
Hua Ming ◽  
Carl K. Chang
Keyword(s):  
Semantic Similarity ◽  
Clustering Algorithm ◽  
Latent Dirichlet Allocation ◽  
Fuzzy Ahp ◽  
Real Data ◽  
Structural Similarity ◽  
Analytic Hierarchy ◽  
Data Set ◽  
Novel Approach ◽  
Hierarchy Process

Mashup technology has become a promising way to develop and deliver applications on the web. Automatically organizing Mashups into functionally similar clusters helps improve the performance of Mashup discovery. Although there are many approaches aiming to cluster Mashups, they solely focus on utilizing semantic similarities to guide the Mashup clustering process and are unable to utilize both the structural and semantic information in Mashup profiles. In this paper, a novel approach to cluster Mashups into groups is proposed, which integrates structural similarity and semantic similarity using fuzzy AHP (fuzzy analytic hierarchy process). The structural similarity is computed from usage histories between Mashups and Web APIs using SimRank algorithm. The semantic similarity is computed from the descriptions and tags of Mashups using LDA (latent dirichlet allocation). A clustering algorithm based on the genetic algorithm is employed to cluster Mashups. Comprehensive experiments are performed on a real data set collected from ProgrammableWeb. The results show the effectiveness of the approach when compared with two kinds of conventional approaches.

Effects of Recession on Asset Management Performance in Small Businesses in Spain

2022 ◽  
pp. 325-353
Author(s):  
María Carmen Carnero ◽  
Javier Cárcel-Carrasco
Keyword(s):  
Asset Management ◽  
Small Businesses ◽  
Probability Distributions ◽  
Complex Function ◽  
Analytic Hierarchy ◽  
Before And After ◽  
Negative Effect ◽  
Multicriteria Model ◽  
Discrete Probability Distributions ◽  
Hierarchy Process

The number of studies that assess the level of maintenance in a country is still very small, despite the contribution of this area to national competitiveness. The literature analyses asset management based on key performance indicators, but not via a multicriteria model. This chapter describes a multicriteria model, constructed by means of the fuzzy analytic hierarchy process (FAHP). The weightings are converted into utility functions, allowing the final utility of an alternative to be calculated via a multi-attribute utility function. Data on the state of asset management in Spain, in 2005 and 2010, are used to produce discrete probability distributions. Finally, a Monte Carlo simulation is applied to estimate the uncertainty of a complex function. In this way, the level of excellence of asset management in small businesses in Spain, before and after the recession, could be determined. The results show that the economic crisis experienced in Spain since 2008 has had a negative effect on the level of asset management in most sectors.

A model for supply chain risk management in the automotive industry using fuzzy analytic hierarchy process and fuzzy TOPSIS

2018 ◽  
Vol 25 (9) ◽  
pp. 3831-3857 ◽  
Author(s):  
Samira Salehi Heidari ◽  
Mohammad Khanbabaei ◽  
Majid Sabzehparvar
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Analytic Hierarchy Process ◽  
Organizational Performance ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Analytic Hierarchy ◽  
Content Type ◽  
Performance Factors ◽  
Hierarchy Process

Purpose One of the most important issues in supply chain (SC) management is the identification and management of the risk involved in it. The purpose of this paper is to propose a comprehensive model of supply chain risk management (SCRM) in the product life cycle (PLC) and the operational process cycle (OPC). To decrease the risks in a fuzzy environment, the model considers the organizational performance factors (OPF) and the risk operational practices (ROP). Design/methodology/approach Fuzzy analytic hierarchy process is used to determine the weights of the relationships between the PLC, OPC and OPF in the hierarchical structure of the decision problem. In addition, the fuzzy technique for order preference by similarity to ideal solution is employed to recognize the priority of ROPs in dealing with the performance factors. The integrated framework is evaluated using the case study of an automotive company in Iran. Findings The results demonstrated that the proposed model can be used to formulate an appropriate method for prioritizing defined alternatives to decrease risk and improve the organizational performance in SCRM under fuzzy conditions. Research limitations/implications A major limitation of the study is that a few of the selected criteria for risk assessment are focused only on economic factors. Another limitation of the current study is related to the PLC, OPC and OPF being based on the work of Xia and Chen (2011). Practical implications The current study identified the more important stage in the PLC. More significant process in each stage of the PLC and weightier risk factors in each process of the OPC were determined. Some strategies for reducing risk in each stage of the PLC were presented. The best alternatives for reducing risks in SC were indicated. Originality/value It is worth mentioning that previous studies have not applied multiple criteria and alternatives to decrease the risks involved in the PLC and OPC parts of the SC under fuzzy conditions. However, it should be stated that some academics have used these techniques separately, in other specialized areas of the SC.

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