• International conference on construction engineering and project management
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• 2011.02a
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• pp.597-602
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• 2011

A robust asset management methodology is essential for effective decision-making of maintenance, repair and rehabilitation of a bridge network. It can be achieved by a computer-based bridge management system (BMS). Successful BMS development requires a reliable bridge deterioration model, which is the most crucial component in a BMS, and an optimal management philosophy. The maintenance optimization methodology proposed in this paper is developed for a small bridge network with limited structural condition rating records. . The methodology is organized in three major components: (1) bridge health index (BHI); (2) maintenance and budget optimization; and (3) reliable Artificial Intelligence (AI) based bridge deterioration model. The outcomes of the paper will help to identify BMS implementation problems and to provide appropriate solutions for managing small bridge networks.

• International Journal of Highway Engineering
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• v.16 no.4
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• pp.75-86
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• 2014

PURPOSES: The aim of this paper is developing user-oriented flexible Level Of Service (LOS) system for integrated asset management of various road facilities. It is essential to overcome limitations of general management systems which only focus on a type of assets (e.g. pavement, bridge etc.), and to serve a customizable LOS platform for smooth implementation and future improvement of the LOS considering various managerial environments of road agencies. METHODS: This study suggested a total framework of the LOS system as a process for self-development, operation and improvement of LOS system to conduct the PDCA (Plan-Do-Check-Act) in management process. In the process, we adopted user-customizable elements regarding asset definition, service index and evaluation method to match with the managerial environment of road agencies. In addition, we conducted an empirical study on the entire process of the suggested LOS system with a real road agency (Korea Express Highway) to prove applicability of the LOS system. RESULTS: From the empirical study, we confirmed that the suggested LOS system framework were suitable for development of customized LOS system. In addition, evaluation of asset conditions by LOS ratings, and quantification of vision achievement of the Korea Express Highway were successfully made. It would be the first trial in integrated management approach with LOS systems for numerous road facilities. CONCLUSIONS : It was recognized that easy application and sustainable improvement of the LOS was the most critical point in asset management. The suggested LOS system would be a powerful weapon as a managerial tool in preparing tight budget, aging infrastructures, and increased demands for more accountability both in Korea and internationally. Implementation of the LOS system needs to be expanded to the other infrastructure members to serve satisfactory level of service to taxpayers.

• Journal of Information Processing Systems
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• v.1 no.1 s.1
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• pp.79-85
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• 2005

In this paper, we dealt with substantial asset analysis methodology applied to two-dimensional asset classification and qualitative evaluation method according to the business process. Most of the existent risk analysis methodology and tools presented classification by asset type and physical evaluation by a quantitative method. We focused our research on qualitative evaluation with 2-dimensional asset classification. It converts from quantitative asset value with purchase cost, recovery and exchange cost, etc. to qualitative evaluation considering specific factors related to the business process. In the first phase, we classified the IT assets into tangible and intangible assets, including human and information data asset, and evaluated their value. Then, we converted the quantitative asset value to the qualitative asset value using a conversion standard table. In the second phase, we reclassified the assets using 2-dimensional classification factors reflecting the business process, and applied weight to the first evaluation results. This method is to consider the organization characteristics, IT asset structure scheme and business process. Therefore, we can evaluate the concrete and substantial asset value corresponding to the organization business process, even if they are the same asset type.

• Journal of Korea Society of Digital Industry and Information Management
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• v.5 no.1
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• pp.141-153
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• 2009

There have been a lot of researches about KM(knowledge management) in domestic and foreign countries since 1990. Especially, there have been a lot of researches about enabler of KM, knowledge asset etc. but these are insufficient researches about performance measure of knowledge management considering maturity of KM. In addition, performance measure and maturity considering enabler to manage successful knowledge as well as knowledge asset which can be the following result are not the sufficient situation. Therefore, this study makes developmental levels of the inside and outside of the corporate by observing previous studies about the maturity of knowledge management and classifies enabler of knowledge management and measure item about knowledge asset by level, considering the features of each developmental level. And it is designed to propose maturity measure methods considering maturity level of actual knowledge management item by drawing indicator to measure classified items.

• Journal of the Korea institute for structural maintenance and inspection
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• v.15 no.4
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• pp.146-154
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• 2011

Recently, the paradigm of social infrastructure investment has been changed from new construction to maintenance and management. As a consequence, the management and maintenance system of existing highway facilities needed an innovation involving the concept of asset management. This paper discusses the new facility management system suitable to local highway agencies. The new system incorporates asset management concept so that it can analyze the network level facility management solution and it can also improve the budget efficiency for local government. This paper also presents systematic method to integrate various facilities for management system.

• Journal of Korean Society for Quality Management
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• v.31 no.3
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• pp.160-171
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• 2003

Criteria for the comparison of quality of asset portfolio management are risk and return. In this paper a method to use structural time-series model to determine an optimal portfolio for the improvement of quality of asset portfolio management is suggested. In traditional mean variance analysis expected return is assumed to be time-invariant. However, it is more realistic to assume that expected return is temporally dynamic and structural time-series model can be used to reflect time-varying nature of return. A data set from an insurance company was used to show validity of suggested method.

• Journal of Digital Convergence
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• v.10 no.8
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• pp.193-200
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• 2012

As IT is also recognized as assets, IT assets management system is trying to introduce for the management and operation in domestic enterprises and public institutions. The general assets management system was introduced in domestic companies, but because it managed mainly the only simple information about the assets, there were a lot of operational difficulties of the assets. In order to operate effectively the IT assets used in special business such as bank, prosecutors, railway, etc the classification system of IT assets based on the EA was needed first of all. Accordingly, in this paper, we classified IT assets systematically according to the EA meta model Application Guide V1.4 in consideration of the characteristics about the IT asset business for A public institution, and performed to improve the operating costs and efficiency by implementing a web-based IT assets management system for this public institution.

• Journal of the Korea institute for structural maintenance and inspection
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• v.28 no.3
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• pp.100-107
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• 2024

Currently, in Korea, due to the rapid aging and deterioration of facilities, the minimum Maintenance Level and Performance Level' of facilities are required by the 'Facility Safety Act' or 'Infrastructure Management Act'. Since infrastructure assets have a long lifespan and the pattern of deterioration over time is complex, it is very difficult to maintain infrastructure as 'minimum maintenance state' or 'minimum performance state' by the current way of management. 'Asset Management' shall be performed not only by a technical perspective, but also by an accounting perspective such as cost and asset value. However, due to lack of awareness of 'asset management' among stakeholder, only technical perspective management is being carried out in practice. In order to effectively manage infrastructure assets, complex consideration of various asset value factors such as budget and service as well as safety and durability are required. In this paper, we presented a theory to evaluate and quantify the road network value for efficient asset management of the road network. We also presented a method of simulation to apply the theory presented in this paper. Through simulation and the results derived from this study, it is possible to specify the budget for the future national asset management, and to optimize the strategy for the management of old road facilities.

• Korean Journal of Construction Engineering and Management
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• v.12 no.4
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• pp.40-49
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• 2011

A number of BTL projects for educational facilities have been augmented because of the increase of newtown development and deflationary policy of class size for learning efficiency. As the operation and maintenance costs rapidly increase, the budget for operation and maintenance is expected to be short. Therefore the asset management maximizing asset value is required to clarify the budget plan and distribution and provide a qualitatively high service. The main objective of this research is to establish asset valuation process in educational facilities delivered by BTL project. In order to meet the research objective, the asset valuation process is established by literature reviews, expert advice, and lessons learned from the developed countries. The developed process includes depreciation by internal accounting law, the core element of valuation, and asset valuation process. The results of the research will be help to offer the qualitatively high service and explain the standard of budget plan. It will assist commencing the asset management system.

• Proceedings of the KIEE Conference
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• 2005.07a
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• pp.187-189
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• 2005

The asset management system for power distribution is necessary to make efficient use of distribution asset and to devise optimum investment plans. So we developed KDAMS(Korea Distribution Asset Management System) that is adopting reliability indexs, SAIFI and SAIDI, and operator's experiences. This paper presents functions of the system that is reliability management, failure rate management, establishment of optimum investment plan and so on. And it presents the of used algorithms to develop this system.