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Each building project demands an integrated method for information and requirement management in its life cycle. The main purpose of this paper is to explore the major obstacles in integrated life cycle information management and recognize the potentials of CoClass as the new Swedish digital classification system to tackle them throughout asset life cycle.

The industry viewpoint toward the current status of asset information management considering ISO 19650-1 principles and the existing obstacles and the industry practitioners' ideas regarding CoClass capabilities and applicability were captured and analyzed. A total of 13 semistructured interviews were conducted with the AECO industry professionals to have an understanding of information requirement management. Then the results were analyzed qualitatively, using the NVivo 12 software. Different attributes of a component (heating panel) in a meeting room according to CoClass and data deviations throughout the asset life cycle were elaborated.

This study reveals some obstacles in information management process in seven categories in relation to: (1) the need to employ information exchange platforms as common data environments (CDEs) by all actors from early stages; (2) the communication issues caused by lack of utilizing common languages; (3) the costly and time-consuming implementation process; (4) the misunderstandings in terms of data communication between service providers and owners; (5) the definition and fulfillment of information requirements as well as keeping track of data deviations throughout asset life cycle; (6) the information update difficulty; and (7) the need for training practitioners dealing with new systems such as CoClass.

The research explores the major obstacles in information requirement management concerning the practical implementation of the new Swedish classification system, CoClass, supporting the asset life cycle.

Big Data has become increasingly important to multiple facets of the accounting profession, but accountants have little understanding of the steps necessary to convert Big Data into useful information. This limited understanding creates a gap between what accountants can do and what accountants should do to assist in Big Data information governance. The study aims to bridge this gap in two ways.

First, the study introduces a model of the Big Data life cycle to explain the process of converting Big Data into information. Knowledge of this life cycle is a first step toward enabling accountants to engage in Big Data information governance. Second, it highlights informational and control risks inherent to this life cycle, and identifies information governance activities and agents that can minimize these risks.

Because accountants have a strong ability to identify the informational and control needs of internal and external decision-makers, they should play a significant role in Big Data information governance.

This model of the Big Data life cycle and information governance provides a first attempt to formalize knowledge that accountants need in a new field of the accounting profession.

The essential investments in new product development (NPD) made by industrial companies entail effective management of NPD activities. In this context, performance measurement is one of the means that can be employed in the pursuit of effectiveness.

The focus of this paper is on life‐cycle objective‐based project management systems in general, and SPMIS in particular. SPMIS (short for Smart Project Management Information System), has been designed: (a) to facilitate the employment of life‐cycle objective‐based project management approaches; and (b) to support concurrent engineering and construction, thus promoting greater integration of the processes under which projects are proposed and implemented. In order to validate the functions designed for SPMIS the authors undertook a detailed case study of a large capital project. The actual project management functions employed by the project team on the case project were researched and charted using the best current PM practices as the guide. While this field research shed light on the actual needs and requirements, the design of the SPMIS functions was approached from first principles in order to incorporate the basic shift from the traditional objectives of cost, time, and quality to life‐cycle objective functions, such as return on investment, facility operability, and life‐cycle integration. This paper describes the fundamental philosophy and framework for the development of life‐cycle objective function‐based project management systems in general, and contrasts these with the existing PM methods.

The purpose of this paper is to present a way of working with open-standard building information modeling (BIM), object type libraries, systems engineering and an Information Delivery Manual for the management of information over the life-cycle of infrastructure assets. The concept is presented as a source of inspiration, proof of concept and to underpin the value of different parts of the concept leading to an integrated approach to life-cycle information management.

The paper presents a concept for a way of working. A proof of concept is provided in the form of a case study in which this concept is operational. It shows that this way of working using open-standard BIM can be applied to manage information in the life-cycle. It does not provide, nor suggest to provide, empirical evidence for specific benefits in terms of efficiency.

The paper shows that open-standard BIM can be applied for information management in the life-cycle of (construction) assets. The specific approach that is applied in practice in a Dutch Infrastructure Project is explained including a case project.

The example of Traverse Dieren attests to a implementation of the approach in practice. From this case it can be concluded that the suggested approach is feasible in the initiation and design phase and applicable during realization. Based on the example as described in this paper it cannot be concluded to what extent the known information management problems in the life-cycle are solved. Therefore a detailed evaluation on the information exchange would be required which is beyond the scope of this paper.

This paper shows how different (theoretical) concepts are successfully combined and implemented in practice to attain the defined BIM goals.

This paper shows a practical case implementation of open-standard BIM (using COINS). It provides a way of working that combines BIM, systems engineering, libraries and contractual arrangements for the management of information over the life-cycle of infrastructure assets.

The US National Park Service (NPS) is responsible for the management of some of the most recognisable and notable natural and cultural resources in the USA. To make the case for additional maintenance funding, NPS is instituting life‐cycle cost management practices. Over the 50‐year life cycle of the Redwood Information Center at Redwood National and State Parks in Crescent City, California, custodial costs alone will sum to more than the total replacement construction cost for the entire facility. This point illustrates an important aspect regarding the true cost of operating and sustaining physical infrastructure over its life cycle. It also suggests that understanding life‐cycle costs is a critical element of effective, long‐term portfolio and asset management. Often, institutional owners of physical assets inadequately assess the true cost of building and owning facilities, typically overemphasising initial construction costs. Life‐cycle operations and maintenance (O&M) and capital renewal costs, however, almost always comprise a far greater percentage of total life‐cycle building costs. Using actual life‐cycle costs for an asset that is owned and managed by NPS, this paper explores the development of full life‐cycle costing, highlighting key life‐cycle cost drivers, of an information centre at the Redwood National and State Parks.

The blockchain-based digital twin has been recognized as a prominent technological ecosystem featuring synergies with both established and emergent information management practice. The purpose of this research is to explore the applicability, interoperability and integrability of a blockchain-based digital twin for asset life cycle management and develop a model of framework which positions the digital twin within a broader context of current management practice and technological availability.

A systematic literature review was performed to map use cases of digital twin, IoT, blockchain and smart contract technologies. Surveys of industry professionals and analyses were conducted focussing on the mapped use cases' life cycle–centric applicability, interoperability and integrability with current asset life cycle management practice, exploring decision support capabilities and industry insights. Lastly, a model of framework was developed based on the use case, interoperability and integrability findings.

The results support approaching digitization initiatives with blockchain-based digital twins and the positioning of the concept as both a strategic tool and a multifunctional on-field support application. Integrability enablers include progression towards BIM level 3, decentralized program hubs, modular cross-technological platform interfaces, as well as mergeable and scalable blockchains.

Knowledge of use cases help highlight the functionality of an integrated technological ecosystem and its connection to comprehensive sets of asset life cycle management aspects. Exploring integrability enablers contribute to the development of management practice and solution development as user expectations and technological prerequisites are interlinked.

The research explores asset life cycle management use cases, interoperability and integrability enablers of blockchain-based digital twins and positions the technological ecosystem within current practice and technological availability.

The purpose of this paper is to discuss life cycle cost management and highlight the practical challenges related to collecting adequate data and practicing long‐term cost management in an uncertain environment.

The paper reports a case study conducted in the Finnish Defence Forces. As part of the case study, a life cycle cost model for a case product was developed.

Activity‐based life cycle cost modeling can provide relevant information for varying product management needs at different stages in the life of a product. Quantification of uncertainty is one of the elements in the modeling that can improve the feasibility of LCC both for cost estimation and tracking purposes.

Only a few empirical studies on life cycle costing have been reported which focus on the defence sector. The paper contributes to our understanding of how LCC can be used in a continuous manner and depicts how LCC can produce a sharpened cost image of a particular product.

Stakeholders of the Architecture, Engineering and Construction (AEC) sector require information on the buildings economic performance throughout its life cycle. This information is neither readily available nor always accurate because building management (BM) professionals still face difficulties to fully incorporate the life cycle cost (LCC) concept into their daily practice. The purpose of this paper is to identify and contribute to solving these difficulties.

This paper provides a background knowledge review and set the ground for a structured research roadmap and a management framework that highlight the links and limitations to be addressed within and between LCC and BM. A six-stage method was used for developing conceptual frameworks targeting six goals: establishing a point of departure; mapping sources of information; literature research; notion deconstruction and conceptual categorization; overview of the applicable background knowledge; and structuring of a framework for LCC-informed decisions in BM.

Management solutions for the built context are necessarily connected with LCC and BM current concepts such as asset management, project, program and portfolio management, facility management and data management. These management approaches highlight the importance of incorporating life cycle concepts and promote LCC effective application within the AEC sector.

This paper identifies and discusses current limitations on the information availability for the economic performance of buildings throughout its life cycle. This work also identifies LCC-related topics that need to be further explored or addressed by both the scientific community and practitioners to overcome these limitations and facilitate the integration of the LCC concept into BM activities.

To achieve a full understanding of the role of marketing from plan to profit requires a knowledge of the basic building blocks. This textbook introduces the key concepts in the art or science of marketing to practising managers. Understanding your customers and consumers, the 4 Ps (Product, Place, Price and Promotion) provides the basic tools for effective marketing. Deploying your resources and informing your managerial decision making is dealt with in Unit VII introducing marketing intelligence, competition, budgeting and organisational issues. The logical conclusion of this effort is achieving sales and the particular techniques involved are explored in the final section.