A framework to embed Asset Management in production companies

Abstract

The aim of this article is to investigate how to embed asset management in production companies. A framework is defined based on literature analysis and focus groups findings, in which the fundamentals to guide the integration of asset management are systematized. Two dimensions are identified—the asset life cycle and the hierarchical level of the asset-control activities—and four founding principles—life cycle, system, risk and asset-centric orientation—as levers to integrate asset management within an industrial organization. An empirical investigation is then developed through multiple case study involving eight production companies in Italy, with the purpose to map the elements of the framework against the real mechanisms in the industrial practices. This allows testing the relevance of the framework itself and demonstrating its potential as a support for companies to implement gap analysis on asset management practices. Empirical evidence on current practices of asset management in production companies is contextually unveiled.