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Article: A portfolio approach to maintenance: A case study of a residential estate

TitleA portfolio approach to maintenance: A case study of a residential estate
Authors
KeywordsAsset management
Genetic algorithms (GAs)
Housing estate management
Optimal portfolio
Optimization
Issue Date2008
PublisherJohn Wiley & Sons Ltd. The Journal's web site is located at http://www3.interscience.wiley.com/cgi-bin/jhome/3680
Citation
Quality And Reliability Engineering International, 2008, v. 24 n. 3, p. 251-264 How to Cite?
AbstractThe choice between repairing and replacing a defective piece of equipment is an economic decision that is faced by all maintenance managers, including housing estate managers. Such decisions need to be made within the limits and constraints set by maintenance expenditure budgets and by manpower availability. Our particular problem is concerned with the development of a maintenance policy for a residential estate of the Hong Kong Housing Authority. Our approach is to treat the numerous housing systems as a portfolio and to exploit flexibilities in performing or delaying the repair I replacement of these systems. The cost of a repair/replacement plan for the portfolio is formulated as an integer programme and genetic algorithms (GAs) are employed to generate optimal and sub-optimal solution plans. The novel features of the approach are the model developed and use of GAs in this particular optimization context. The results and discussion of the case study will help practitioners to better understand the difficulties involved in collecting relevant cost data and in formulating repair/replacement plans for a group of buildings. Copyright ©2007 John Wiley & Sons, Ltd.
Persistent Identifierhttp://hdl.handle.net/10722/74345
ISSN
2015 Impact Factor: 1.457
2015 SCImago Journal Rankings: 1.300
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorChu, LKen_HK
dc.contributor.authorLeung, AKYen_HK
dc.contributor.authorSculli, Den_HK
dc.date.accessioned2010-09-06T07:00:25Z-
dc.date.available2010-09-06T07:00:25Z-
dc.date.issued2008en_HK
dc.identifier.citationQuality And Reliability Engineering International, 2008, v. 24 n. 3, p. 251-264en_HK
dc.identifier.issn0748-8017en_HK
dc.identifier.urihttp://hdl.handle.net/10722/74345-
dc.description.abstractThe choice between repairing and replacing a defective piece of equipment is an economic decision that is faced by all maintenance managers, including housing estate managers. Such decisions need to be made within the limits and constraints set by maintenance expenditure budgets and by manpower availability. Our particular problem is concerned with the development of a maintenance policy for a residential estate of the Hong Kong Housing Authority. Our approach is to treat the numerous housing systems as a portfolio and to exploit flexibilities in performing or delaying the repair I replacement of these systems. The cost of a repair/replacement plan for the portfolio is formulated as an integer programme and genetic algorithms (GAs) are employed to generate optimal and sub-optimal solution plans. The novel features of the approach are the model developed and use of GAs in this particular optimization context. The results and discussion of the case study will help practitioners to better understand the difficulties involved in collecting relevant cost data and in formulating repair/replacement plans for a group of buildings. Copyright ©2007 John Wiley & Sons, Ltd.en_HK
dc.languageengen_HK
dc.publisherJohn Wiley & Sons Ltd. The Journal's web site is located at http://www3.interscience.wiley.com/cgi-bin/jhome/3680en_HK
dc.relation.ispartofQuality and Reliability Engineering Internationalen_HK
dc.rightsQuality and Reliability Engineering International. Copyright © John Wiley & Sons Ltd.en_HK
dc.subjectAsset managementen_HK
dc.subjectGenetic algorithms (GAs)en_HK
dc.subjectHousing estate managementen_HK
dc.subjectOptimal portfolioen_HK
dc.subjectOptimizationen_HK
dc.titleA portfolio approach to maintenance: A case study of a residential estateen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0748-8017&volume=24&spage=251&epage=264&date=2007&atitle=A+Portfolio+Approach+To+Maintenance:+A+Case+Study+Of+A+Residential+Estateen_HK
dc.identifier.emailChu, LK:lkchu@hkucc.hku.hken_HK
dc.identifier.authorityChu, LK=rp00113en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1002/qre.891en_HK
dc.identifier.scopuseid_2-s2.0-42149188786en_HK
dc.identifier.hkuros141441en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-42149188786&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume24en_HK
dc.identifier.issue3en_HK
dc.identifier.spage251en_HK
dc.identifier.epage264en_HK
dc.identifier.isiWOS:000255303200002-
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridChu, LK=7202233520en_HK
dc.identifier.scopusauthoridLeung, AKY=55231088100en_HK
dc.identifier.scopusauthoridSculli, D=7003917046en_HK

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