Determinants of Assurance Management System for Critical Asset: A Literature Review

Several studies found that critical asset failure results in delays and downtimes in operation for most industries. One of the studies revealed that 272 of the 773 occurrences involved a critical asset breakdown. Thus, this study aimed to discuss the relevant factors of implementing the Assurance Ma...

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Autores principales:	Joseph A. Tubil, Alexander S. Acosta, Imee C. Acosta, Eduardo P. Malagapo
Formato:	article
Lenguaje:	EN
Publicado:	International Journal of Mathematical, Engineering and Management Sciences 2021
Materias:	assurance management system performance critical asset industry integrated maintenance Technology T Mathematics QA1-939
Acceso en línea:	https://doaj.org/article/68ab7f6ebb7846f8ab01f2670f362fb9
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spelling	oai:doaj.org-article:68ab7f6ebb7846f8ab01f2670f362fb92021-12-04T05:27:14ZDeterminants of Assurance Management System for Critical Asset: A Literature Review10.33889/IJMEMS.2021.6.6.0992455-7749https://doaj.org/article/68ab7f6ebb7846f8ab01f2670f362fb92021-12-01T00:00:00Zhttps://ijmems.in/cms/storage/app/public/uploads/volumes/99-IJMEMS-21-0098-6-6-1667-1693-2021.pdfhttps://doaj.org/toc/2455-7749Several studies found that critical asset failure results in delays and downtimes in operation for most industries. One of the studies revealed that 272 of the 773 occurrences involved a critical asset breakdown. Thus, this study aimed to discuss the relevant factors of implementing the Assurance Management System for the industry's selected critical asset. Literature reviews play a significant role in this research through a content analysis review process from different review articles, google scholar, journals, and other social sciences. The result revealed that increasing the organization's knowledge of the processes and asset criticality in the assurance management system offers a high degree of openness to the activities carried out to ensure continued asset reliability and integrity. Relatively, it shows a clear long-term progress pattern of improved equipment reliability, leading to a significant increase in consumer trust due to introducing a system of reliability assurance management. Indeed, the study recommended that implementing an assurance management system is an integral part of the critical asset as it offers trust that the asset will perform as anticipated. Finally, it is an aid in understanding the asset and its relationship between expected and actual performance and efficiency in using a structured approach of the Assurance Management System for Critical Asset, the AMSCAF Framework. Therefore, industry stakeholders should consider the recommendations and best practices to ensure critical asset management systems need to generate value that maintains a competitive advantage in today's highly complicated and challenging market competition through the Assurance Management System.Joseph A. TubilAlexander S. AcostaImee C. AcostaEduardo P. MalagapoInternational Journal of Mathematical, Engineering and Management Sciencesarticleassurance management systemperformancecritical assetindustryintegrated maintenanceTechnologyTMathematicsQA1-939ENInternational Journal of Mathematical, Engineering and Management Sciences, Vol 6, Iss 6, Pp 1667-1693 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	assurance management system performance critical asset industry integrated maintenance Technology T Mathematics QA1-939
spellingShingle	assurance management system performance critical asset industry integrated maintenance Technology T Mathematics QA1-939 Joseph A. Tubil Alexander S. Acosta Imee C. Acosta Eduardo P. Malagapo Determinants of Assurance Management System for Critical Asset: A Literature Review
description	Several studies found that critical asset failure results in delays and downtimes in operation for most industries. One of the studies revealed that 272 of the 773 occurrences involved a critical asset breakdown. Thus, this study aimed to discuss the relevant factors of implementing the Assurance Management System for the industry's selected critical asset. Literature reviews play a significant role in this research through a content analysis review process from different review articles, google scholar, journals, and other social sciences. The result revealed that increasing the organization's knowledge of the processes and asset criticality in the assurance management system offers a high degree of openness to the activities carried out to ensure continued asset reliability and integrity. Relatively, it shows a clear long-term progress pattern of improved equipment reliability, leading to a significant increase in consumer trust due to introducing a system of reliability assurance management. Indeed, the study recommended that implementing an assurance management system is an integral part of the critical asset as it offers trust that the asset will perform as anticipated. Finally, it is an aid in understanding the asset and its relationship between expected and actual performance and efficiency in using a structured approach of the Assurance Management System for Critical Asset, the AMSCAF Framework. Therefore, industry stakeholders should consider the recommendations and best practices to ensure critical asset management systems need to generate value that maintains a competitive advantage in today's highly complicated and challenging market competition through the Assurance Management System.
format	article
author	Joseph A. Tubil Alexander S. Acosta Imee C. Acosta Eduardo P. Malagapo
author_facet	Joseph A. Tubil Alexander S. Acosta Imee C. Acosta Eduardo P. Malagapo
author_sort	Joseph A. Tubil
title	Determinants of Assurance Management System for Critical Asset: A Literature Review
title_short	Determinants of Assurance Management System for Critical Asset: A Literature Review
title_full	Determinants of Assurance Management System for Critical Asset: A Literature Review
title_fullStr	Determinants of Assurance Management System for Critical Asset: A Literature Review
title_full_unstemmed	Determinants of Assurance Management System for Critical Asset: A Literature Review
title_sort	determinants of assurance management system for critical asset: a literature review
publisher	International Journal of Mathematical, Engineering and Management Sciences
publishDate	2021
url	https://doaj.org/article/68ab7f6ebb7846f8ab01f2670f362fb9
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Determinants of Assurance Management System for Critical Asset: A Literature Review

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