Optimizing the Life Cycle of Physical Assets through an Integrated Life Cycle Assessment Method
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Outros Autores: | , , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10316/95912 https://doi.org/10.3390/en14196128 |
Resumo: | The purpose of this study was to apply new methods of econometric models to the Life Cycle Assessment (LCA) of physical assets, by integrating investments such as maintenance, tech-nology, sustainability, and technological upgrades, and to propose a means to evaluate the Life Cycle Investment (LCI), with emphasis on sustainability. Sustainability is a recurrent theme of existing studies and will be a concern in coming decades. As a result, equipment with a smaller environmental footprint is being continually developed. This paper presents a method to evaluate asset depreciation with an emphasis on the maintenance investment, technology depreciation, sustaina-bility depreciation, and technological upgrade investment. To demonstrate the value added of the proposed model, it was compared with existing models that do not take the previously mentioned aspects into consideration. The econometric model is consistent with asset life cycle plans as part of the Strategic Asset Management Plan of the Asset Management System. It is clearly demonstrated that the proposed approach is new and the results are conclusive, as demonstrated by the presented models and their results. This research aims to introduce new methods that integrate the factors of technology upgrades and sustainability for the evaluation of assets’ LCA and replacement time. Despite the increase in investment in technology upgrades and sustainability, the results of the Integrated Life Cycle Assessment First Method (ILCAM1), which represents an improved approach for the analyzed data, show that the asset life is extended, thus increasing sustainability and pro-moting the circular economy. By comparison, the Integrated Life Cycle Investment Assessment Method (ILCIAM) shows improved results due to the investment in technology upgrades and sus-tainability. Therefore, this study presents an integrated approach that may offer a valid tool for decision makers. © 2021 by the authors. Licensee MDPI, Basel, Switzerland. |
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Optimizing the Life Cycle of Physical Assets through an Integrated Life Cycle Assessment MethodAsset managementCircular economyEconometric modelISO 5500XLife cycle assessmentOptimizationPhysical assetsSustainabilityThe purpose of this study was to apply new methods of econometric models to the Life Cycle Assessment (LCA) of physical assets, by integrating investments such as maintenance, tech-nology, sustainability, and technological upgrades, and to propose a means to evaluate the Life Cycle Investment (LCI), with emphasis on sustainability. Sustainability is a recurrent theme of existing studies and will be a concern in coming decades. As a result, equipment with a smaller environmental footprint is being continually developed. This paper presents a method to evaluate asset depreciation with an emphasis on the maintenance investment, technology depreciation, sustaina-bility depreciation, and technological upgrade investment. To demonstrate the value added of the proposed model, it was compared with existing models that do not take the previously mentioned aspects into consideration. The econometric model is consistent with asset life cycle plans as part of the Strategic Asset Management Plan of the Asset Management System. It is clearly demonstrated that the proposed approach is new and the results are conclusive, as demonstrated by the presented models and their results. This research aims to introduce new methods that integrate the factors of technology upgrades and sustainability for the evaluation of assets’ LCA and replacement time. Despite the increase in investment in technology upgrades and sustainability, the results of the Integrated Life Cycle Assessment First Method (ILCAM1), which represents an improved approach for the analyzed data, show that the asset life is extended, thus increasing sustainability and pro-moting the circular economy. By comparison, the Integrated Life Cycle Investment Assessment Method (ILCIAM) shows improved results due to the investment in technology upgrades and sus-tainability. Therefore, this study presents an integrated approach that may offer a valid tool for decision makers. © 2021 by the authors. Licensee MDPI, Basel, Switzerland.MDPI2021info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10316/95912http://hdl.handle.net/10316/95912https://doi.org/10.3390/en14196128eng1996-1073Pais, José Edmundo de AlmeidaRaposo, Hugo D. N.Farinha, José TorresCardoso, Antonio J. MarquesMarques, Pedro Alexandreinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2022-05-25T01:41:26Zoai:estudogeral.uc.pt:10316/95912Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T21:14:18.542934Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Optimizing the Life Cycle of Physical Assets through an Integrated Life Cycle Assessment Method |
title |
Optimizing the Life Cycle of Physical Assets through an Integrated Life Cycle Assessment Method |
spellingShingle |
Optimizing the Life Cycle of Physical Assets through an Integrated Life Cycle Assessment Method Pais, José Edmundo de Almeida Asset management Circular economy Econometric model ISO 5500X Life cycle assessment Optimization Physical assets Sustainability |
title_short |
Optimizing the Life Cycle of Physical Assets through an Integrated Life Cycle Assessment Method |
title_full |
Optimizing the Life Cycle of Physical Assets through an Integrated Life Cycle Assessment Method |
title_fullStr |
Optimizing the Life Cycle of Physical Assets through an Integrated Life Cycle Assessment Method |
title_full_unstemmed |
Optimizing the Life Cycle of Physical Assets through an Integrated Life Cycle Assessment Method |
title_sort |
Optimizing the Life Cycle of Physical Assets through an Integrated Life Cycle Assessment Method |
author |
Pais, José Edmundo de Almeida |
author_facet |
Pais, José Edmundo de Almeida Raposo, Hugo D. N. Farinha, José Torres Cardoso, Antonio J. Marques Marques, Pedro Alexandre |
author_role |
author |
author2 |
Raposo, Hugo D. N. Farinha, José Torres Cardoso, Antonio J. Marques Marques, Pedro Alexandre |
author2_role |
author author author author |
dc.contributor.author.fl_str_mv |
Pais, José Edmundo de Almeida Raposo, Hugo D. N. Farinha, José Torres Cardoso, Antonio J. Marques Marques, Pedro Alexandre |
dc.subject.por.fl_str_mv |
Asset management Circular economy Econometric model ISO 5500X Life cycle assessment Optimization Physical assets Sustainability |
topic |
Asset management Circular economy Econometric model ISO 5500X Life cycle assessment Optimization Physical assets Sustainability |
description |
The purpose of this study was to apply new methods of econometric models to the Life Cycle Assessment (LCA) of physical assets, by integrating investments such as maintenance, tech-nology, sustainability, and technological upgrades, and to propose a means to evaluate the Life Cycle Investment (LCI), with emphasis on sustainability. Sustainability is a recurrent theme of existing studies and will be a concern in coming decades. As a result, equipment with a smaller environmental footprint is being continually developed. This paper presents a method to evaluate asset depreciation with an emphasis on the maintenance investment, technology depreciation, sustaina-bility depreciation, and technological upgrade investment. To demonstrate the value added of the proposed model, it was compared with existing models that do not take the previously mentioned aspects into consideration. The econometric model is consistent with asset life cycle plans as part of the Strategic Asset Management Plan of the Asset Management System. It is clearly demonstrated that the proposed approach is new and the results are conclusive, as demonstrated by the presented models and their results. This research aims to introduce new methods that integrate the factors of technology upgrades and sustainability for the evaluation of assets’ LCA and replacement time. Despite the increase in investment in technology upgrades and sustainability, the results of the Integrated Life Cycle Assessment First Method (ILCAM1), which represents an improved approach for the analyzed data, show that the asset life is extended, thus increasing sustainability and pro-moting the circular economy. By comparison, the Integrated Life Cycle Investment Assessment Method (ILCIAM) shows improved results due to the investment in technology upgrades and sus-tainability. Therefore, this study presents an integrated approach that may offer a valid tool for decision makers. © 2021 by the authors. Licensee MDPI, Basel, Switzerland. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10316/95912 http://hdl.handle.net/10316/95912 https://doi.org/10.3390/en14196128 |
url |
http://hdl.handle.net/10316/95912 https://doi.org/10.3390/en14196128 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
1996-1073 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.publisher.none.fl_str_mv |
MDPI |
publisher.none.fl_str_mv |
MDPI |
dc.source.none.fl_str_mv |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799134040547131392 |