Understanding motives for and barriers to implementing asset management system: an empirical study for engineered physical assets

Abstract

This study contributes to the literature by exploring, from a multidisciplinary viewpoint, the emerging discipline of asset management, and by providing a better understanding of the motives for and barriers to asset-intensive organisations’ adoption of asset management systems (AMS). To this end, the authors conceptualise and explore the core themes of AMS, and link this novel body of knowledge to organisational motives for and barriers to the formal introduction of AMS. The study collects and analyses empirical data from 93 middle/senior managers in Slovenian organisations dealing with engineered assets. The results, obtained by applying partial least squares path modelling, show that internal motives, such as better control of operational processes and continuous improvement, are the main drivers of the introduction of AMS. The potential increase in documentation and bureaucracy, and lack of resources, were identified as the main barriers to AMS implementation. By assessing the factors that facilitate and inhibit formal AMS implementation, the study provides important insights into developing strategies to promote the novel and important discipline of asset management.

Keywords:

• Asset management system
• physical asset management
• motives
• barriers
• ISO 55001
• PLS-PM

Disclosure statement

No potential conflict of interest was reported by the author(s).

Additional information

Funding

This research was supported by the Slovenian Research Agency; Program [No. P5-0018—Decision Support Systems in Digital Business].

Notes on contributors

Damjan Maletič

Damjan Maletič is an Assistant Professor at the Faculty of Organizational Sciences, University of Maribor. He is also a member of European Asset Management Committee (EAMC) at the European Federation of National Maintenance Societies (EFNMS) and a member of International Society of Engineering Asset Management (ISEAM). His areas of interest are: asset management, maintenance and quality management.

Nuno Marques de Almeida

Nuno Marques de Almeida is an Assistant Professor in the Department of Civil Engineering, Architecture and Georesources of the University of Lisbon (IST). With a professional background in construction project management, his academic and research activities seek to advance the discipline of asset management and its application to critical infrastructure, building and advanced facilities of both the public and private sectors.

Boštjan Gomišček

Boštjan Gomišček is a Professor of Quality management, currently affiliated with Hamdan Bin Mohammed Smart University (HBMSU) in Dubai. While holding different roles at the faculty and university level, teaching at the undergraduate, postgraduate and HDR level, his focus was on research in the interdisciplinary area of Quality Management, Sustainability, Air Quality, Quality of Healthcare, Maintenance Management, and Business Excellence.

Matjaž Maletič

Matjaž Maletič is an Assistant Professor at the Faculty of Organizational Sciences, University of Maribor. His research interests can be broadly classified into the following research areas: Quality Management, Asset Management and Organizational Sustainability. In addition to the general research directions, he aims to link these research areas with the paradigms of innovation and organizational performance.