Impact factor analysis affecting the operation of asset lifecycle by using asset information modeling and blockchain technology
Abstract
Purpose
Currently, owners find it difficult to manage their assets throughout their project life cycle. The fact that asset information models (AIMs) are mandatory as deliverables for building information modeling-driven projects makes it a key requirement for the client to understand in detail those factors affecting asset operation. Hence, because the Kingdom of Saudi Arabia is the most significant market in the Middle East, this study aims to investigate those factors where blockchain and AIMs could impact the asset management (AM) life cycle.
Design/methodology/approach
Researchers used a hypothesis-based approach over a systematic literature review and a workshop (descriptive statistics) to understand the current challenges in AM. Later, a second workshop was run to understand the impact factor analysis affecting the operation of the asset life cycle by using asset information modeling and blockchain technology over a multiquantitative method.
Findings
Results found that factors affecting the operation of assets could be the improvement of trust and stakeholder’s influences; the availability of handover process products’ accurate data; manufacturers providing detailed product models; increasing the speed of preparing holistic and integrated AM systems; improving collaboration between stakeholders; and returning clients’ investments faster.
Originality/value
Understanding the factors affecting AM life cycle based on the utilization of AIMs and blockchain then allows investors and their team members to work in a secure and collaborative environment that helps them to pre-identify certain risks and improve decision-making in a more effective way, as is required by ISO55000.
Keywords
Acknowledgements
The project was funded by Modern Cities Consultant Engineering (MCEC) and supported by King Abdul Aziz University (KAAU) in the Kingdom of Saudi Arabia (KSA).
Since submission of this article, the following authors have updated his affiliations: Dr Georgios Kapogiannis is a Senior Lecturer in Management at the AFG with The University of Aberdeen (Qatar Campus) and a Honorary Senior Lecturer at the University of Aberdeen Business School, The University of Aberdeen (UK) and Ali Cheshmehzangi is a Professor of Architecture and Urban Planning, Head/Director of Center at Qingdao City University, Qingdao, China.
Citation
Raslan, A., Cheshmehzangi, A., Towey, D., Tizani, W. and Kapogiannis, G. (2024), "Impact factor analysis affecting the operation of asset lifecycle by using asset information modeling and blockchain technology", Construction Innovation, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/CI-10-2022-0272
Publisher
:Emerald Publishing Limited
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