Basics of Operations Management
Asset Management (AM) is defined as set of coordinated activities aimed at ensuring the creation of value from the assets throughout their lifecycle.
Compared to traditional approaches that drive decisions based on costs, AM is driven by the generation of value, adopting a holistic approach that considers all the stakeholders linked to the asset.
In the industrial context, in relation to AM, maintenance management and execution are among the most discussed areas, since they have direct and indirect effects on multiple facets of the asset performance (e.g., availability, usability, productivity, environmental footprint), contributing to the creation of value over the whole lifecycle (e.g., Beginning-of-Life, Middle-of-Life, and End-of-Life).
In this context, the Industrial Asset Management (IAM) course (6 CFU) aims to provide the student of the graduate program in Management Engineering with the capability of understanding, analysing, and evaluating the issues related to the management of industrial assets at the strategic, tactical, and operational levels with a strong focus on maintenance.
By the end of the course, students will be able to:
• Understand the concepts of asset, asset management and asset management systems, with an overview of the methods and tools useful to define an AM plan, also from an economic perspective.
• Understand concepts related to the maintenance of an asset considering the asset as a single entity and as a part of a complex system (i.e., multiple assets working together).
• Apply the methods and techniques to make AM decisions.
• Apply the main methods and tools useful to collect and analyze maintenance data to extract knowledge to be reused in support of the definition of a maintenance plan.
• Evaluate data, concepts, and information related to maintenance design, management, and control.
• Evaluate maintenance planning, with consideration of the constraints related to resources availability, optimal maintenance strategies, and the economic impact of the decisions.
The course contributes to the educational goals of the graduate programs of the technological-industrial area, in particular regarding the asset management in the industrial companies.
• Asset & Asset Management. Basic concepts, key decision-making areas, and international Standards (the ISO-5500x: 2014 family).
• An overview of fundamental and emerging asset management systems: EAM/CMMS, APM & AIP Systems.
• The Strategic Asset Management Plan (SAMP), the Hierarchy of Assets and the Assets Management Plan (AMP).
• The maintenance of the asset. Model and methods for complex systems maintenance.
• Methods and techniques for maintenance design and planning. Reliability Centred Maintenance (RCM) & Predictive Analytics and Maintenance (PA/PdM).
• Methods and techniques for maintenance scheduling and resources assignment.
• Methods and techniques for maintenance control. Summary of RAMS (Reliability, Availability, Maintainability and Safety) techniques.
• Methods and techniques for asset lifecycle management. Asset Health Indexing (AHI) and Total Expenditure (TotEx) analysis, over the lifecycle.
The course contents are discussed in lectures and case discussions, with particular attention to the interaction with the students who have the opportunity to formulate questions and propose topics for further discussion.
Lectures aim to introduce and discuss the methods and the principles of industrial asset management outlined in the objectives of the course.
The course material consists in:
• Slides available on the course page on the e-learning portal. The slides serve as a support to the classroom discussion: therefore, during the discussion in the classroom, further details which are not present on the slides may be provided.
• Specific book chapters provided regarding most of the topics addressed.
• Spreadsheet templates with practical illustration of most of the quantitative modeling tools used in the course; and
• Further readings from the recommended books in the bibliography.
The password to access the material published on the course e-learning portal is communicated during the first lecture of the course. If unable to attend the first lesson, please contact the professor by e-mail.
The assessment and evaluation consist of a written exam (approximately 1,5 hours long) and an oral exam.
The written exam usually includes 10 true or false questions, 1 or 2 essay questions, 3 or 4 definitions and 2 exercises. The written exam mark can be up to 30/30. During the exam is forbidden to use the lecture material (notes, books, slides, etc.).
If the mark of the written exam is at least 18/30, students are allowed to attend the oral exam.
The oral exam allows to increase the grade obtained in the written test by a maximum of 3 points. It takes through the discussion of a home take assignment related to specific parts of the course. The text of the assignment will be provided to the students during the semester. The home take assignment must be prepared in groups of max 3 people. The assignment discussion takes place in ad hoc sessions organized during / at the end of the semester (in this case the evaluation mark is valid for 1 year) or during the oral sessions that take place after having successfully passed the written exam. Usually, the oral discussion is organized 1 week after the written exam. The discussion lasts around 30 minutes for each assignment. The assignment is evaluated with a mark. The final mark of the oral exam is given by the arithmetic average of the assignments’ marks.
If the oral examination is failed, the result of the written exam is cancelled.
The home-take assignment is related to a specific part of the course. The home-take assignment can be discussed in a special session organized during/at the end of the semester or during the oral exam. The students are required to provide a presentation for the assignment and to upload it on the e-learning portal one week before the written exam. The students cannot upload the assignment after the deadline. The calendar with the deadlines will be uploaded on the e-learning portal.
The assignment preparation is strongly suggested because it favors the acquisition of the course concepts through their application to real cases and numerical examples; it also fosters the acquisition of communication and team-working skills.
The assignments evaluation marks are published on the course Team or on the e-learning portal.
The exam structure is the same for attending and non-attending students.
Would the course be taught in dual or distance-based lecturing modes, modifications might be carried out with respect to the syllabus, to make the course and the exams accessible under the new lecturing modes.