An asset may be an assembly, sub-assembly, or component, but is the smallest unit maintained by an owner.
The term ‘asset information’ is used to describe information about an asset, which may include the provenance, part types and serial numbers, design life, maintenance schedule, and design rationale for sub-systems or components.
As data gets reused across the life-cycle, sets of data and information become combined and can be mined, interpreted and used in new ways.
The UK government, for example, is, as a client for built infrastructure, requiring project teams to deliver asset information through building information modelling ( ).
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Take a tour starting with the earliest smartwatches right up to the very latest LTE models -- and all the weird and wonderful in between.
The information used to make decisions in the management of complex projects is generated and stored digitally.
Complex projects are a set of projects that share particular defining characteristics: they are high-tech, capital intensive engineering projects that are of a significant scale, relatively long duration, and require firms to work collaboratively across firm boundaries in project delivery (Davies and Hobday, 2006; Hobday, 1998 ; Miller ., 1995).
The baseline is an agreed description of one or a number of assets at a point in time, where the current configuration of a complex product system is described by the latest baselines plus approved changes.
New practices of managing change in complex projects might be expected as we enter an era of ‘big data’, in which internal and external data-sets become linked and asset information becomes a project deliverable. Here, Morris, like Levitt, points to software projects, in particular, as rebelling, using agile forms of management, through small projects with close developer-customer relationships.
Digital technologies radically transform project delivery. Twenty years ago, Morris described the evolution of project management as closely related to developments in systems engineering, modern management theory, and the evolution of the computer ().