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Composite indicators in asset management
Luleå University of Technology, Department of Civil, Environmental and Natural Resources Engineering, Operation, Maintenance and Acoustics.ORCID iD: 0000-0002-4107-0991
Maintenance Excellence Institute.
Manufacturing Engineering and Advanced Metrology Group, Aragon Institute of Engineering Research (13A), University of Zaragoza.
Luleå University of Technology, Department of Civil, Environmental and Natural Resources Engineering, Operation, Maintenance and Acoustics.ORCID iD: 0000-0002-0188-4624
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2012 (English)Conference paper, Oral presentation only (Refereed)
Abstract [en]

Composite indicators are formed when individual indicators are compiled into a single index. A composite indicator should ideally measure multidimensional concepts which cannot be captured by a single index. Since asset management is multidisciplinary, composite indicators would be helpful. The paper describes a method of monitoring a complex entity in a processing plant. In this scenario, a plurality of use indices and weighting values are used to create a composite use index from a combination of lower level use indices and weighting values. Each use index contains status information on one aspect of the lower level entities, and each weighting value corresponds to one lower level entity. The resulting composite indicator can be a decision-making tool for asset managers.Keywords – Indicator, aggregation, KPI, performance, hierarchy, DSS

Place, publisher, year, edition, pages
2012.
National Category
Other Civil Engineering
Research subject
Operation and Maintenance
Identifiers
URN: urn:nbn:se:ltu:diva-26887Local ID: 025727f1-1a9b-4a0b-977a-7f46c35f8695OAI: oai:DiVA.org:ltu-26887DiVA, id: diva2:1000067
Conference
International Conference on Maintenance Performance Measurement & Management : 12/09/2012 - 13/09/2012
Note
Godkänd; 2012; 20121227 (ysko)Available from: 2016-09-30 Created: 2016-09-30 Last updated: 2017-11-25Bibliographically approved

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Galar, DiegoStenström, ChristerKumar, Uday

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