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A Statistical Activity Cost Analysis of the Relationship Between Physical and Financial Aspects of Fixed Assets

conference contribution
posted on 2023-05-23, 05:26 authored by Colin, A, Falta, M, Su, S, Turner, L, Willett, RJ, Wolff, R
In this paper, Statistical Activity Cost Analysis (SACA) is used to identify the interaction of mutually dependent physical and financial aspects of a fixed asset-like system configuration. The novelty of the approach is, having established a rational description of the uncertainty inherent in both domains, the analysis of their interaction. Little research to date has investigated the duality of engineering and accounting aspects, in a statistical setting. Our approach is conceptual rather than empirical. We use an illustrative 4-component model, a) to explain the concept of SACA by means of a software demonstration tool, b) to relate financial issues of cost to engineering asset capacity to perform specified tasks, and c) to demonstrate how to produce quantified measures of return and risk, both of which are relevant in areas of life-cycle analysis, budgeting and planning decision-making.

History

Publication title

Engineering Asset Management Proceedings of the 1st World Congress on Engineering Asset Management (WCEAM)

Editors

Joseph Mathew, Jim Kennedy, Lin Ma, Andy Tan and Deryk Anderson

Pagination

392-399

ISBN

1-84628-583-6

Department/School

TSBE

Publisher

Springer

Place of publication

London

Event title

1st World Congress on Engineering Asset Management (WCEAM)

Event Venue

Conrad Jupiters, Gold Coast, Australia

Date of Event (Start Date)

2006-07-11

Date of Event (End Date)

2006-07-14

Repository Status

  • Restricted

Socio-economic Objectives

Microeconomics not elsewhere classified

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    University Of Tasmania

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