The requirements of a value model for the strategic implementation of predictive maintenance

David Sanchez-Londono; Irene Roda; Giacomo Barbieri

doi:10.1016/j.ifacol.2023.10.1759

The requirements of a value model for the strategic implementation of predictive maintenance

David Sanchez-Londono^*, Irene Roda^*, Giacomo Barbieri

^*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

1 Citation (Scopus)

3 Downloads (Pure)

Abstract

Predictive Maintenance (PdM) in industrial plants aims not only to reduce the failure rates of assets, but also to increment their useful life. However, additional costs must be faced when adopting such a policy, and granting that it will have a positive impact in the long term is not a trivial issue. The implementation of PdM should then be justified from a strategic perspective. Efforts have been made to develop models that provide guidance for the strategic implementation of PdM policies. However, these models generally consider only the economic feasibility of the policy, and not the contribution to value for the organization. Asset Management provides relevant principles for approaching this decision-making activity while following a value-based approach. This work aims to investigate the extent to which value-based decision-making has been implemented to drive the strategic implementation of PdM. The work concludes with the requirements that should be fulfilled by a value model to guide decision-making concerning PdM implementations.

Original language	English
Title of host publication	IFAC-PapersOnLine
Editors	Hideaki Ishii, Yoshio Ebihara, Jun-ichi Imura, Masaki Yamakita
Publisher	Elsevier B.V.
Pages	1276-1281
Number of pages	6
Volume	56
Edition	2
ISBN (Electronic)	9781713872344
DOIs	https://doi.org/10.1016/j.ifacol.2023.10.1759
Publication status	Published - 1 Jul 2023
Externally published	Yes
Event	22nd IFAC World Congress 2023 - Yokohama, Japan Duration: 9 Jul 2023 → 14 Jul 2023 Conference number: 22

Publication series

Name	IFAC-PapersOnLine
Number	2
Volume	56
ISSN (Electronic)	2405-8963

Conference

Conference	22nd IFAC World Congress 2023
Country/Territory	Japan
City	Yokohama
Period	9/07/23 → 14/07/23

Keywords

Asset Management
Decision-making
Predictive Maintenance
Industry 4.0
Smart Retrofitting
Value

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1016/j.ifacol.2023.10.1759Licence: CC BY-NC-ND

1-s2.0-S2405896323021687-mainFinal published version, 492 KBLicence: CC BY-NC-ND

Cite this

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title = "The requirements of a value model for the strategic implementation of predictive maintenance",

abstract = "Predictive Maintenance (PdM) in industrial plants aims not only to reduce the failure rates of assets, but also to increment their useful life. However, additional costs must be faced when adopting such a policy, and granting that it will have a positive impact in the long term is not a trivial issue. The implementation of PdM should then be justified from a strategic perspective. Efforts have been made to develop models that provide guidance for the strategic implementation of PdM policies. However, these models generally consider only the economic feasibility of the policy, and not the contribution to value for the organization. Asset Management provides relevant principles for approaching this decision-making activity while following a value-based approach. This work aims to investigate the extent to which value-based decision-making has been implemented to drive the strategic implementation of PdM. The work concludes with the requirements that should be fulfilled by a value model to guide decision-making concerning PdM implementations.",

keywords = "Asset Management, Decision-making, Predictive Maintenance, Industry 4.0, Smart Retrofitting, Value",

author = "David Sanchez-Londono and Irene Roda and Giacomo Barbieri",

note = "Publisher Copyright: Copyright {\textcopyright} 2023 The Authors. This is an open access article under the CC BY-NC-ND license (https://creativecommons.org/licenses/by-nc-nd/4.0/); 22nd IFAC World Congress 2023 ; Conference date: 09-07-2023 Through 14-07-2023",

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Sanchez-Londono, D, Roda, I & Barbieri, G 2023, The requirements of a value model for the strategic implementation of predictive maintenance. in H Ishii, Y Ebihara, J Imura & M Yamakita (eds), IFAC-PapersOnLine. 2 edn, vol. 56, IFAC-PapersOnLine, no. 2, vol. 56, Elsevier B.V., pp. 1276-1281, 22nd IFAC World Congress 2023, Yokohama, Japan, 9/07/23. https://doi.org/10.1016/j.ifacol.2023.10.1759

The requirements of a value model for the strategic implementation of predictive maintenance. / Sanchez-Londono, David; Roda, Irene; Barbieri, Giacomo.
IFAC-PapersOnLine. ed. / Hideaki Ishii; Yoshio Ebihara; Jun-ichi Imura; Masaki Yamakita. Vol. 56 2. ed. Elsevier B.V., 2023. p. 1276-1281 (IFAC-PapersOnLine; Vol. 56, No. 2).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

TY - GEN

T1 - The requirements of a value model for the strategic implementation of predictive maintenance

AU - Sanchez-Londono, David

AU - Roda, Irene

AU - Barbieri, Giacomo

N1 - Conference code: 22

PY - 2023/7/1

Y1 - 2023/7/1

N2 - Predictive Maintenance (PdM) in industrial plants aims not only to reduce the failure rates of assets, but also to increment their useful life. However, additional costs must be faced when adopting such a policy, and granting that it will have a positive impact in the long term is not a trivial issue. The implementation of PdM should then be justified from a strategic perspective. Efforts have been made to develop models that provide guidance for the strategic implementation of PdM policies. However, these models generally consider only the economic feasibility of the policy, and not the contribution to value for the organization. Asset Management provides relevant principles for approaching this decision-making activity while following a value-based approach. This work aims to investigate the extent to which value-based decision-making has been implemented to drive the strategic implementation of PdM. The work concludes with the requirements that should be fulfilled by a value model to guide decision-making concerning PdM implementations.

AB - Predictive Maintenance (PdM) in industrial plants aims not only to reduce the failure rates of assets, but also to increment their useful life. However, additional costs must be faced when adopting such a policy, and granting that it will have a positive impact in the long term is not a trivial issue. The implementation of PdM should then be justified from a strategic perspective. Efforts have been made to develop models that provide guidance for the strategic implementation of PdM policies. However, these models generally consider only the economic feasibility of the policy, and not the contribution to value for the organization. Asset Management provides relevant principles for approaching this decision-making activity while following a value-based approach. This work aims to investigate the extent to which value-based decision-making has been implemented to drive the strategic implementation of PdM. The work concludes with the requirements that should be fulfilled by a value model to guide decision-making concerning PdM implementations.

KW - Asset Management

KW - Decision-making

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KW - Industry 4.0

KW - Smart Retrofitting

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BT - IFAC-PapersOnLine

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A2 - Ebihara, Yoshio

A2 - Imura, Jun-ichi

A2 - Yamakita, Masaki

PB - Elsevier B.V.

T2 - 22nd IFAC World Congress 2023

Y2 - 9 July 2023 through 14 July 2023

ER -

The requirements of a value model for the strategic implementation of predictive maintenance

Abstract

Publication series

Conference

Keywords

UN SDGs

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