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Article

An Analysis of Physical Asset Management Core Practices and Their Influence on Operational Performance

1
Faculty of Organizational Sciences, University of Maribor, Kidričeva 55a, 4000 Kranj, Slovenia
2
Department of Mechanical Engineering, Faculty of Technology, Linnaeus University, Building M, 351-95 Växjö, Sweden
3
Faculty of Business, University of Wollongong in Dubai, Knowledge Park, Block 15, P. O. Box 20183, Dubai, UAE
*
Authors to whom correspondence should be addressed.
Sustainability 2020, 12(21), 9097; https://doi.org/10.3390/su12219097
Received: 25 September 2020 / Revised: 22 October 2020 / Accepted: 28 October 2020 / Published: 31 October 2020
(This article belongs to the Special Issue The Future of Facilities Management and Sustainable Development)
The commitment of organisations to physical assets management (PAM) has recently received considerable attention in theory and practice. Indeed, PAM plays a key role in asset-intensive organizations and is also considered as a principal actor within Industry 4.0. Therefore, this paper aims to examine the PAM core practices and the performance implications of integrating these practices into business, in particular by assessing their impact on operational performance. Survey data were collected from managers in 138 international and local organisations. The data was analysed using Partial Least Squares Path Modeling (PLS-PM). The study validates the second-order construct consisting of PAM latent variables, namely Strategy and Planning, Risk management, Lifecycle Delivery, Asset Information, and Asset Review. The results have shown that PAM core practices directly influence operational performance. This paper is a response to recent calls for empirical studies on the organisational approaches that can increase the success of organisations. View Full-Text
Keywords: physical asset management; operational performance; ISO 55001; PLS-PM physical asset management; operational performance; ISO 55001; PLS-PM
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MDPI and ACS Style

Maletič, D.; Maletič, M.; Al-Najjar, B.; Gomišček, B. An Analysis of Physical Asset Management Core Practices and Their Influence on Operational Performance. Sustainability 2020, 12, 9097. https://doi.org/10.3390/su12219097

AMA Style

Maletič D, Maletič M, Al-Najjar B, Gomišček B. An Analysis of Physical Asset Management Core Practices and Their Influence on Operational Performance. Sustainability. 2020; 12(21):9097. https://doi.org/10.3390/su12219097

Chicago/Turabian Style

Maletič, Damjan, Matjaž Maletič, Basim Al-Najjar, and Boštjan Gomišček. 2020. "An Analysis of Physical Asset Management Core Practices and Their Influence on Operational Performance" Sustainability 12, no. 21: 9097. https://doi.org/10.3390/su12219097

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