Business Performance Measurements in Asset Management with the Support of Big Data Technologies

Campos, Jaime; Sharma, Pankaj; Jantunen, Erkki; Baglee, David; Fumagalli, Luca

doi:10.1515/mspe-2017-0021

Cited by 7 publications

(8 citation statements)

References 26 publications

(23 reference statements)

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“…Tsang et al (1999) introduce a holistic approach to establish maintenance performance measures using the well-known balanced scorecard, which translates a business unit's strategy around four perspectives: financial, customer, internal process, and learning and growth (Kaplan and Norton, 1996). In recent studies, various versions of the modified balanced scorecard have been developed for maintenance performance-related applications, focusing mainly on the inclusion of non-financial perspectives (Campos et al, 2017;Maci an et al, 2019;Sirin et al, 2020;Tanoto et al, 2022), and alignment with objectives and information systems (Campos et al, 2017). The European standard for maintenance key performance indicators provides an organizational model of maintenance function, which is composed of six sub-functions: health-safety-environment, management, people competence, engineering, organization and support, and administration and supply (EN:15341, 2019).…”

Section: Diagnostic Framework Of Maintenance Performancementioning

confidence: 99%

“…(1999) introduce a holistic approach to establish maintenance performance measures using the well-known balanced scorecard, which translates a business unit's strategy around four perspectives: financial, customer, internal process, and learning and growth (Kaplan and Norton, 1996). In recent studies, various versions of the modified balanced scorecard have been developed for maintenance performance-related applications, focusing mainly on the inclusion of non-financial perspectives (Campos et al. , 2017; Macián et al.…”

Section: Literature Reviewmentioning

confidence: 99%

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An adaptable end-to-end maintenance performance diagnostic framework

Sigsgaard

Andersen

et al. 2023

IJQRM

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PurposeThis paper proposes a progressive, multi-level framework for diagnosing maintenance performance: rapid performance health checks of key performance for different equipment groups and end-to-end process diagnostics to further locate potential performance issues. A question-based performance evaluation approach is introduced to support the selection and derivation of case-specific indicators based on diagnostic aspects.Design/methodology/approachThe case research method is used to develop the proposed framework. The generic parts of the framework are built on existing maintenance performance measurement theories through a literature review. In the case study, empirical maintenance data of 196 emergency shutdown valves (ESDVs) are collected over a two-year period to support the development and validation of the proposed approach.FindingsTo improve processes, companies need a separate performance measurement structure. This paper suggests a hierarchical model in four layers (objective, domain, aspect and performance measurement) to facilitate the selection and derivation of indicators, which could potentially reduce management complexity and help prioritize continuous performance improvement. Examples of new indicators are derived from a case study that includes 196 ESDVs at an offshore oil and gas production plant.Originality/valueMethodological approaches to deriving various performance indicators have rarely been addressed in the maintenance field. The proposed diagnostic framework provides a structured way to identify and locate process performance issues by creating indicators that can bridge generic evaluation aspects and maintenance data. The framework is highly adaptive as data availability functions are used as inputs to generate indicators instead of passively filtering out non-applicable existing indicators.

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Section: Diagnostic Framework Of Maintenance Performancementioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

An adaptable end-to-end maintenance performance diagnostic framework

Sigsgaard

Andersen

et al. 2023

IJQRM

View full text Add to dashboard Cite

show abstract

“…Some authors argue that there need to be performance management measures to display an organization's performance enhancement (see e.g. Campos, Sharma, Jantunen, Baglee, & Fumagalli, 2017;Heymann, 2018;Raffoni, Visani, Bartolini, & Silvi, 2018). For gaining competitive advantages against competitors, Campos et al (2017) advocate the use of a modified Balanced Scorecard as a tool to support performance management.…”

Section: The Role Of Performance Managementmentioning

confidence: 99%

“…Campos, Sharma, Jantunen, Baglee, & Fumagalli, 2017;Heymann, 2018;Raffoni, Visani, Bartolini, & Silvi, 2018). For gaining competitive advantages against competitors, Campos et al (2017) advocate the use of a modified Balanced Scorecard as a tool to support performance management. Heymann (2018) as well refers to the Balanced Scorecard, arguing that big data can serve as a means to measure to optimize the desired outcome of a company in a specific field (e.g.…”

Section: The Role Of Performance Managementmentioning

confidence: 99%

From Big Data to Big Performance – Exploring the Potential of Big Data for Enhancing Public Organizations’ Performance. A Systematic Literature Review

Guirguis

2020

Yearbook of Swiss Administrative Sciences

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This article examines the possibilities for increasing organizational performance in the public sector using big data by conducting a systematic literature review. It includes the results of 36 scientific articles published between January 2012 and July 2019. The results show a tendency to explain the relationship between big data and organizational performance through the Resource-Based View of the Firm or the Dynamic Capabilities View, arguing that performance improvement in an organization stems from unique capabilities. In addition, the results show that big data performance improvement is influenced by better organizational decision making. Finally, it identifies three dimensions that seem to play a role in this process: the human dimension, the organizational dimension, and the data dimension. From these findings, implications for both practice and theory are derived.

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“…With the growing complexity of equipment and high technology monitoring and data collection devices, expectation from maintenance has increased. Campos et al (2017) suggested the use of modified balance scorecard methodology for optimal use of Big Data in strategic maintenance performance measurement system.…”

Section: Tam Management and Planningmentioning

confidence: 99%

Trends in turnaround maintenance planning: literature review

Al‐Turki

Duffuaa

Ben‐Daya

2019

JQME

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Purpose Turnaround maintenance (TAM) is a planned stoppage of production for conducting a comprehensive maintenance of equipment or plant with the purpose of improving plant availability and performance. The purpose of this paper is to investigate trends in the operation and management of TAM, as reported in the literature, and identify gaps, in the context of a system approach that views a plant as part of a network of a supply chain. Design/methodology/approach This literature review is based on over 80 subject-relevant papers and uses content analysis. The literature subjects are classified into several managerial areas that include organization, planning, scope and risk analysis, execution, performance measurement and learning. The gap in the literature is identified in light of the proposed system view for TAM. Findings The system view of TAM opens new opportunities for new research areas for improving the operation and management of TAM. These areas include optimizing TAM scheduling and developing methods for managing risks along the entire business supply chain. In addition, new approaches for collaboration, sharing knowledge, best practices and expertise within the supply chain become necessary for effective TAM planning and control. Originality/value This paper reviews the literature and provides a new classification of TAM. It adopts the system view for TAM that has brought new insights in the operation and management of TAM. New trends for research in the area of TAM are identified.

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Business Performance Measurements in Asset Management with the Support of Big Data Technologies

Cited by 7 publications

References 26 publications

An adaptable end-to-end maintenance performance diagnostic framework

An adaptable end-to-end maintenance performance diagnostic framework

From Big Data to Big Performance – Exploring the Potential of Big Data for Enhancing Public Organizations’ Performance. A Systematic Literature Review

Trends in turnaround maintenance planning: literature review

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