Abstract for: Exploring and Managing the Dynamic Behavior of Technical Systems during their Life Cycle
The Asset Dynamics reference model is a layered model of a technical system like an airplane, plant, ship, production facility, in its dynamical context. The model can be used to get a better understanding of the behavior of complex technical systems in its social and environmental context, but also as a decision support system for strategic investment and operational decision making. Short term profit focused decisions can have negative effects in the long term, but high investments in the wrong period can turn in a waste of tax payers money. So balancing investments, usage profile and maintenance activities asks for a deeper understanding of the dynamical behavior of the asset. This is what we call Asset Dynamics: the body knowledge of generic asset management principles used in a System Dynamics model. A library of past publications in this field is in development and can be found at https://airtable.com/shrd2dzhRn1xFiBI9.