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Risk-based asset integrity management for offshore floating facilities in Malaysia

In today's competitive market asset integrity is a main concern to all enterprises especially for asset intensive offshore industries. For this purposes, the study was focussed to identify measureable asset integrity performance indicators, find the trend and gap of asset integrity practices wi...

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Main Authors: Hassan, Zulkifly, Abu Husain, Mohd. Khairi
Format: Conference or Workshop Item
Published: 2013
Subjects:
G Geography. Anthropology. Recreation
Online Access:http://eprints.utm.my/id/eprint/39462/
https://www.researchgate.net/publication/268508452_RISK-BASED_ASSET_INTEGRITY_MANAGEMENT_FOR_OFFSHORE_FLOATING_FACILITIES_IN_MALAYSIA
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spelling my.utm.394622017-09-12T04:03:37Z http://eprints.utm.my/id/eprint/39462/ Risk-based asset integrity management for offshore floating facilities in Malaysia Hassan, Zulkifly Abu Husain, Mohd. Khairi G Geography. Anthropology. Recreation In today's competitive market asset integrity is a main concern to all enterprises especially for asset intensive offshore industries. For this purposes, the study was focussed to identify measureable asset integrity performance indicators, find the trend and gap of asset integrity practices within the industries and application to determine assets' integrity performance for offshore floating facilities. The study first discusses the general asset integrity management followed by requirements for performance indicators and its significance to offshore industries. Literature review revealed that the performance of asset integrity has not reached satisfactory level as the repeated incidents occur one after another in the offshore industry. As a result, the organisation requires a comprehensive set of appropriate indicators' scheme and quantification technique such as a hierarchical framework which link to the organisation's ultimate strategic goal for ensuring asset integrity. This framework uses analytical hierarchy process (AHP) to quantify the risk information through the standardisation of weight indicators and the aggregation. A study to quantify the condition of assets of five offshore floating facilities through leading and lagging indicators in hierarchical structure was conducted. The estimated index values determine the condition of the asset based on the performance risk index scale. Finally, the study concluded that the indicator system can provide a comprehensive view on portfolio of offshore asset health status, lead to the further consideration and trends monitoring for decision-making processes. 2013 Conference or Workshop Item PeerReviewed Hassan, Zulkifly and Abu Husain, Mohd. Khairi (2013) Risk-based asset integrity management for offshore floating facilities in Malaysia. In: Proceedings of the 2nd International Conference on Engineering Business Management 2013 (ICEBM 2013), 2013. https://www.researchgate.net/publication/268508452_RISK-BASED_ASSET_INTEGRITY_MANAGEMENT_FOR_OFFSHORE_FLOATING_FACILITIES_IN_MALAYSIA
institution Universiti Teknologi Malaysia
building UTM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Malaysia
content_source UTM Institutional Repository
url_provider http://eprints.utm.my/
topic G Geography. Anthropology. Recreation
spellingShingle G Geography. Anthropology. Recreation
Hassan, Zulkifly
Abu Husain, Mohd. Khairi
Risk-based asset integrity management for offshore floating facilities in Malaysia
description In today's competitive market asset integrity is a main concern to all enterprises especially for asset intensive offshore industries. For this purposes, the study was focussed to identify measureable asset integrity performance indicators, find the trend and gap of asset integrity practices within the industries and application to determine assets' integrity performance for offshore floating facilities. The study first discusses the general asset integrity management followed by requirements for performance indicators and its significance to offshore industries. Literature review revealed that the performance of asset integrity has not reached satisfactory level as the repeated incidents occur one after another in the offshore industry. As a result, the organisation requires a comprehensive set of appropriate indicators' scheme and quantification technique such as a hierarchical framework which link to the organisation's ultimate strategic goal for ensuring asset integrity. This framework uses analytical hierarchy process (AHP) to quantify the risk information through the standardisation of weight indicators and the aggregation. A study to quantify the condition of assets of five offshore floating facilities through leading and lagging indicators in hierarchical structure was conducted. The estimated index values determine the condition of the asset based on the performance risk index scale. Finally, the study concluded that the indicator system can provide a comprehensive view on portfolio of offshore asset health status, lead to the further consideration and trends monitoring for decision-making processes.
format Conference or Workshop Item
author Hassan, Zulkifly
Abu Husain, Mohd. Khairi
author_facet Hassan, Zulkifly
Abu Husain, Mohd. Khairi
author_sort Hassan, Zulkifly
title Risk-based asset integrity management for offshore floating facilities in Malaysia
title_short Risk-based asset integrity management for offshore floating facilities in Malaysia
title_full Risk-based asset integrity management for offshore floating facilities in Malaysia
title_fullStr Risk-based asset integrity management for offshore floating facilities in Malaysia
title_full_unstemmed Risk-based asset integrity management for offshore floating facilities in Malaysia
title_sort risk-based asset integrity management for offshore floating facilities in malaysia
publishDate 2013
url http://eprints.utm.my/id/eprint/39462/
https://www.researchgate.net/publication/268508452_RISK-BASED_ASSET_INTEGRITY_MANAGEMENT_FOR_OFFSHORE_FLOATING_FACILITIES_IN_MALAYSIA
_version_ 1643650334932860928
score 13.211869

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