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Article
Publication date: 2 August 2019

Amit Mitra and Kamran Munir

Today, Big Data plays an imperative role in the creation, maintenance and loss of cyber assets of organisations. Research in connection to Big Data and cyber asset

Abstract

Purpose

Today, Big Data plays an imperative role in the creation, maintenance and loss of cyber assets of organisations. Research in connection to Big Data and cyber asset management is embryonic. Using evidence, the purpose of this paper is to argue that asset management in the context of Big Data is punctuated by a variety of vulnerabilities that can only be estimated when characteristics of such assets like being intangible are adequately accounted for.

Design/methodology/approach

Evidence for the study has been drawn from interviews of leaders of digital transformation projects in three organisations that are within the insurance industry, natural gas and oil, and manufacturing industries.

Findings

By examining the extant literature, the authors traced the type of influence that Big Data has over asset management within organisations. In a context defined by variability and volume of data, it is unlikely that the authors will be going back to restricting data flows. The focus now for asset managing organisations would be to improve semantic processors to deal with the vast array of data in variable formats.

Research limitations/implications

Data used as evidence for the study are based on interviews, as well as desk research. The use of real-time data along with the use of quantitative analysis could lead to insights that have hitherto eluded the research community.

Originality/value

There is a serious dearth of the research in the context of innovative leadership in dealing with a threatened asset management space. Interpreting creative initiatives to deal with a variety of risks to data assets has clear value for a variety of audiences.

Details

Built Environment Project and Asset Management, vol. 9 no. 4
Type: Research Article
ISSN: 2044-124X

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Article
Publication date: 6 February 2009

Patrick McAllister and Pavlos Loizou

This paper aims to analyse the appraisal of a specialised form of real estate – data centres – that has a unique blend of locational, physical and technological…

Abstract

Purpose

This paper aims to analyse the appraisal of a specialised form of real estate – data centres – that has a unique blend of locational, physical and technological characteristics that differentiate it from conventional real estate assets. Market immaturity, limited trading and a lack of pricing signals enhance levels of appraisal uncertainty and disagreement relative to conventional real estate assets.

Design/methodology/approach

Given the problems of applying standard discounted cash flow, an approach to appraisal is proposed that uses pricing signals from traded cash flows that are similar to the cash flows generated from data centres. Based on “the law of one price”, it is assumed that two assets that are expected to generate identical cash flows in the future must have the same value now. It is suggested that the expected cash flow of assets should be analysed over the life cycle of the building. Corporate bond yields are used to provide a proxy for the appropriate discount rates for lease income. Since liabilities are quite diverse, a number of proxies are suggested as discount and capitalisation rates including indexed‐linked, fixed interest and zero‐coupon bonds.

Findings

The application of conventional discounted cash flow approaches to the appraisal of data centres requires information about a wide range of inputs that is difficult to derive from market signals or estimate analytically. In practice, discounted cash flow appraisals of data centre facilities are forced to incorporate non‐market assumptions that are inevitably subjective. Cash flows from data centres tend to be more complicated because of the high levels of current and capital expenditure compared with conventional assets. This requires an understanding of the appraisal of liabilities as well as income. Whilst the use of price information from similar cash flows such as corporate bonds is helpful, there are rarely assets and liabilities that have identical cash flows and risks and some approximation is necessary.

Originality/value

The digitalisation of business and society has produced a different form of real estate asset that is specialised, physically complex and whose operation, maintenance and management require specialist staffing and high levels of current and capital expenditure. The complexity of the cash flows and the lack of active trading create significant appraisal problems. This paper proposes an alternative approach to appraisal that utilises external pricing signals to appraise the various incomes and costs.

Details

Journal of Property Investment & Finance, vol. 27 no. 1
Type: Research Article
ISSN: 1463-578X

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Article
Publication date: 12 November 2019

Ana-María Casado-Molina, Celia M.Q. Ramos, María-Mercedes Rojas-de-Gracia and José Ignacio Peláez Sánchez

Companies are currently facing the challenge of understanding how their business is affected by the large volume of opinions continually generated by their stakeholders in…

Abstract

Purpose

Companies are currently facing the challenge of understanding how their business is affected by the large volume of opinions continually generated by their stakeholders in social media regarding their intangible assets (experiences, emotions and attitudes). With this in mind, the purpose of this paper is to present an innovative management model, named E2AB, to measure and analyse reputational intangibles from digital ecosystems and their impacts on tangible assets.

Design/methodology/approach

The methodology applied was big data and business intelligence techniques. These methods were used in the computing process to obtain daily data from every asset guarantees that the model is validated with robust data. This model has been corroborated using data from the banking sector, specifically 402,383 net data inputs from the digital ecosystems.

Findings

This study illustrates the existence of a holistic influence of intangible assets over tangible assets. The findings demonstrate complex relationships between tangible and intangible assets, determined not only by the type of variable but also by its valence and intensity.

Practical implications

These findings may help chief communication officers and general managers a better understanding of how intangible assets extracted from online users’ opinions are related to their organisation’s tangible assets plus a chance to find out about their impact and how to manage them for a practical and agile decision making in real time.

Originality/value

It is a pioneering work in establishing a model, which demonstrates transversal and holistic relationships between relational intangible and tangible assets of firms from digital ecosystems, using business intelligence techniques.

Details

Industrial Management & Data Systems, vol. 120 no. 1
Type: Research Article
ISSN: 0263-5577

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Article
Publication date: 3 October 2019

Hannu Hannila, Joni Koskinen, Janne Harkonen and Harri Haapasalo

The purpose of this paper is to analyse current challenges and to articulate the preconditions for data-driven, fact-based product portfolio management (PPM) based on…

Abstract

Purpose

The purpose of this paper is to analyse current challenges and to articulate the preconditions for data-driven, fact-based product portfolio management (PPM) based on commercial and technical product structures, critical business processes, corporate business IT and company data assets. Here, data assets were classified from a PPM perspective in terms of (product/customer/supplier) master data, transaction data and Internet of Things data. The study also addresses the supporting role of corporate-level data governance.

Design/methodology/approach

The study combines a literature review and qualitative analysis of empirical data collected from eight international companies of varying size.

Findings

Companies’ current inability to analyse products effectively based on existing data is surprising. The present findings identify a number of preconditions for data-driven, fact-based PPM, including mutual understanding of company products (to establish a consistent commercial and technical product structure), product classification as strategic, supportive or non-strategic (to link commercial and technical product structures with product strategy) and a holistic, corporate-level data model for adjusting the company’s business IT (to support product portfolio visualisation).

Practical implications

The findings provide a logical and empirical basis for fact-based, product-level analysis of product profitability and analysis of the product portfolio over the product life cycle, supporting a data-driven approach to the optimisation of commercial and technical product structure, business IT systems and company product strategy. As a virtual representation of reality, the company data model facilitates product visualisation. The findings are of great practical value, as they demonstrate the significance of corporate-level data assets, data governance and business-critical data for managing a company’s products and portfolio.

Originality/value

The study contributes to the existing literature by specifying the preconditions for data-driven, fact-based PPM as a basis for product-level analysis and decision making, emphasising the role of company data assets and clarifying the links between business processes, information systems and data assets for PPM.

Details

Journal of Enterprise Information Management, vol. 33 no. 1
Type: Research Article
ISSN: 1741-0398

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Article
Publication date: 22 March 2019

Mustapha Munir, Arto Kiviniemi and Stephen W. Jones

Currently, building information modelling (BIM) is largely seen as a 3D model, not as an information model or information management tool. This wrong perception of BIM and…

Abstract

Purpose

Currently, building information modelling (BIM) is largely seen as a 3D model, not as an information model or information management tool. This wrong perception of BIM and low interest in 3D asset management (AM) is one of the major reasons for the slow adoption by clients in the architectural, engineering and construction (AEC) industry. The purpose of this paper is to identify the techniques and strategies of streamlining AM systems for BIM-based integration, and how the information is captured from physical assets towards BIM-based integration for clients to derive value from BIM investments.

Design/methodology/approach

A qualitative case study strategy was used to study the strategic implementation process of integrating BIM with AM systems and the business value of BIM in AM by a large asset owner in the UK.

Findings

The paper identifies key strategies in the adoption of BIM-based processes by an asset owner, the implementation process, the challenges and the benefits attained. Several barriers were identified as the challenges of adopting BIM-based processes in AM: complexity and cost associated with BIM; irrelevance of 3D geometric data in AM processes; nature of asset ownership structure; managing the asset handover process; managing change within the organisation. Organisations will have to consider the following issues in streaming asset information with BIM: the development for a clear strategy prior to adoption; connecting the strategy to the business goals; and conducting the discovery exercise to identify organisational information needs.

Originality/value

The research addresses a significant gap in the development of techniques and strategies for asset owners to streamline BIM with AM systems and derive business value from such integration. The research context is a case study involving a large owner-operator in the UK that has been able to derive value from BIM systems in their AM processes. The key value of the paper is improving asset owners’ understanding of BIM in AM by demonstrating the implementation strategies, linkage to organisational objectives, challenges, value management process and business value of BIM in AM. Another contribution of the paper is improving the understanding of BIM, which is usually viewed as 3D models and that 3D geometric data do not have much value for AM tasks.

Details

Engineering, Construction and Architectural Management, vol. 26 no. 6
Type: Research Article
ISSN: 0969-9988

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Article
Publication date: 2 May 2019

Mustapha Munir, Arto Kiviniemi, Stephen Finnegan and Stephen W. Jones

The purpose of this paper is to investigate the processes, tools and techniques of strategic asset information management (AIM) for built assets, and how the asset

Abstract

Purpose

The purpose of this paper is to investigate the processes, tools and techniques of strategic asset information management (AIM) for built assets, and how the asset information content enhances the proficiency of asset managers to effectively manage their assets throughout their life cycle by utilising building information modelling (BIM) and asset management (AM) systems. For most asset managers, the problem is not the lack of information about their assets, but the abundance of it, and most especially the absence of established processes and protocols to effectively manage large sets of asset data. Therefore, it is crucial to develop a strategy to control and manage this information in order for asset managers to harness its potential and realise value from their organisation’s information assets..

Design/methodology/approach

A qualitative case study strategy was used to investigate the effective management of asset data in an AIM system. Seven sets of interviews were conducted and nine respondents were interviewed. These were analysed through qualitative thematic analysis using the NVivo software.

Findings

The paper identifies six dimensions of value that BIM contributes to AM, which are: management, commerce, efficiency, industry, user and technology value. Also, the paper demonstrates that there is real value to be derived by the asset owner from the effective management of asset information. The study highlights that the value of BIM is not inherent but would require many other processes to deliver value to the organisation.

Originality/value

The key value of the paper is that it identifies important techniques for managing asset data and how asset information is collected, organised, stored, controlled, analysed, secured, shared and reported within a virtual AIM system for strategic management-based decisions.

Details

Facilities , vol. 38 no. 3/4
Type: Research Article
ISSN: 0263-2772

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Article
Publication date: 1 September 1995

Peter Byrne and Stephen Lee

Uses modern portfolio theory and a spreadsheet optimizer to make anex‐post examination of the strategic diversification effects ofincluding property in a multi‐asset

Abstract

Uses modern portfolio theory and a spreadsheet optimizer to make an ex‐post examination of the strategic diversification effects of including property in a multi‐asset portfolio, using UK appraisal‐based (smoothed) data and several derived desmoothed series. Includes an additional low‐risk asset (cash) to investigate whether property′s place in the portfolio is maintained. In particular, considers the significance of constraining assets to match typical institutional portfolio levels. Concludes that previously supposed benefits of including property are overstated. Property still has a place in an institutional portfolio, but the analyses should not be based simply on the use of appraisal or desmoothed data in a portfolio optimizer without applying appropriate constraints.

Details

Journal of Property Finance, vol. 6 no. 3
Type: Research Article
ISSN: 0958-868X

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Article
Publication date: 11 May 2021

Elizaveta Gavrikova, Irina Volkova and Yegor Burda

The purpose of this paper is to design a framework for asset data management in power companies. The authors consider asset data management from a strategic perspective…

Abstract

Purpose

The purpose of this paper is to design a framework for asset data management in power companies. The authors consider asset data management from a strategic perspective, linking operational-level data with corporate strategy and taking into account the organizational context and stakeholder expectations.

Design/methodology/approach

The authors conducted a multiple case study based on a literature review and three series of in-depth interviews with experts from three Russian electric power companies.

Findings

The main challenge in asset data management for electric power companies is the increasing amount and complexity of asset data, which is frequently incomplete or inaccurately collected, hard to translate to managerial language, focused primarily on the operational level. Such fragmented approach negatively affects strategic decision-making. The proposed framework introduces a holistic approach, provides context and accountability for decision-making and attributes data flows, roles and responsibilities to different management levels.

Research limitations/implications

The limitations of our study lie in the exploratory nature of case study research and limited generalization of the observed cases. However, the authors used multiple sources of evidence to ensure validity and generalization of the results. This article is a first step toward further understanding of the issues of transformation in power companies and other asset intensive businesses.

Originality/value

The novelty of the framework lies in the scope, focus and detailed treatment of asset data management in electric power companies.

Details

International Journal of Quality & Reliability Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0265-671X

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Book part
Publication date: 10 November 2017

Karen Miller

This chapter explores differences in fringe, distant, and remote rural public library assets for asset-based community development (ABCD) and the relationships of those…

Abstract

This chapter explores differences in fringe, distant, and remote rural public library assets for asset-based community development (ABCD) and the relationships of those assets to geographic regions, governance structures, and demographics.

The author analyzes 2013 data from the Institute of Museum and Library Services (IMLS) and U.S. Department of Agriculture using nonparametric statistics and data mining random forest supervised classification algorithms.

There are statistically significant differences between fringe, distant, and remote library assets. Unexpectedly, median per capita outlets (along with service hours and staff) increase as distances from urban areas increase. The Southeast region ranks high in unemployment and poverty and low in median household income, which aligns with the Southeast’s low median per capita library expenditures, staff, hours, inventory, and programs. However, the Southeast’s relatively high percentage of rural libraries with at least one staff member with a Master of Library and Information Science promises future asset growth in those libraries. State and federal contributions to Alaska libraries propelled the remote Far West to the number one ranking in median per capita staff, inventory, and programs.

This study is based on IMLS library system-wide data and does not include rural library branches operated by nonrural central libraries.

State and federal contributions to rural libraries increase economic, cultural, and social capital creation in the most remote communities. On a per capita basis, economic capital from state and federal agencies assists small, remote rural libraries in providing infrastructure and services that are more closely aligned with libraries in more populated areas and increases library assets available for ABCD initiatives in otherwise underserved communities.

Even the smallest rural library can contribute to ABCD initiatives by connecting their communities to outside resources and creating new economic, cultural, and social assets.

Analyzing rural public library assets within their geographic, political, and demographic contexts highlights their potential contributions to ABCD initiatives.

Details

Rural and Small Public Libraries: Challenges and Opportunities
Type: Book
ISBN: 978-1-78743-112-6

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Article
Publication date: 5 November 2018

William C. Rivenbark, Whitney Afonso and Dale J. Roenigk

The purpose of this paper is to understand the impact of the Great Recession on the capital assets being depreciated and the capital assets condition ratio for the…

Abstract

Purpose

The purpose of this paper is to understand the impact of the Great Recession on the capital assets being depreciated and the capital assets condition ratio for the governmental activities of the government-wide financial statements, while identifying possible socioeconomic and financial variables that help explain capital investment behavior in local government.

Design/methodology/approach

Based on capital spending from fiscal year 2005–2006 (FY06) to fiscal year 2012–2013 (FY13) for the governmental activities of 471 North Carolina municipalities as reported on their government-wide financial statements, the authors use a fixed effects model to test our two hypotheses.

Findings

The authors find that most municipalities consistently invested in capital assets before, during, and after the Great Recession but were not able to maintain pace with depreciation. The authors also find that the capital assets being depreciated is affected by numerous socioeconomic and financial variables, while the capital assets condition ratio is not.

Research limitations/implications

The study continues to build on previous research, demonstrating that different results are produced when the analysis is based on local data rather than sub-national data.

Practical implications

An implication from our study that expands across research and practice is that capital investment and capital value are two different dimensions of capital management in local government, which drives research in terms of how this multidimensional concept is specified and drives practices in terms of how this multidimensional concept is approached within annual capital budgets and capital improvement programs.

Originality/value

The study represents one of the first studies that focuses on capital spending in local government based on data from the government-wide financial statements.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 30 no. 4
Type: Research Article
ISSN: 1096-3367

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