Assessment framework for asset maintenance in passenger terminals

Abstract

Asset management is one of the emerging disciplines in worldwide since most of the organizations are facing challenges in sustaining their operations with the aging of assets. On the other hand, managing of assets and the cost of maintenance have made real-time challenges for them. Hence, the objective of this study is to develop a framework for predictive maintenance of assets considering the existing assessment frameworks of the early researchers. However, the significance of this research is that the framework is developed focusing the passenger terminals where this concept has been narrowly addressed. Kandy Multimodal Transit Terminal was selected for the case study. Accordingly, Markov Chain was used for developing the framework. A conceptual framework was introduced for the predictive maintenance of assets and the cost projections considering the availability of data. Hence, the outcome of this research facilitates to reduce the consequences in asset maintenance management, and to manage the budget allocation for the maintenance in the passenger terminals.