Project title: Aligning Corporate Strategy with Asset Management: A New Thinking of ERM
Other PhD projects in Management of Projects in Engineering
| PhD student: | Jenny, Ching Kwok |
| Qualification: | BEng, MSc |
| Country: | Hong Kong |
| Sponsor: | School of Mechanical, Aerospace and Civil Engineering |
| Expert group: | Management of Projects |
| Research group: | Energy, Environment and Climate Change |
| Collaboration: | |
| Awards: | Rotary Foundation Ambassadorial Scholarship |
| Personal page: | |
| Email: | ching.kwok@postgrad.manchester.ac.uk |
| Supervisor: | Dr Robert J Young, Dr Richard Kirkham |
Professional Biography: Project Engineer (Hong Kong Office)/Business Development Manager (Beijing Office, ATAL Engineering Ltd.). Associate Environmental Consultant (Hong Kong Productivity Council). Technical Engineer (NAP Acoustics Far East Ltd.)
Research interests: Risk Management, Asset Management, Wastewater Recycling facilities procurement, PPP, PFI, China study.
Project abstract
The procurement of complex infrastructure schemes presents a range of issues to the project team, particularly in the context of risk and life-cycle asset management. This research contains a literature review examining the role of risk and asset management of wastewater recycling facility projects. During the procurement of such projects, it is important to establish an appropriate methodology for the identification of risk in both technical and non-technical dimensions. A comprehensive asset management model should manage risk in a pro-active way in order to optimise the potential societal and commercial gains that may be realised.
In fact, the provision of public utilities, such as water, electricity or gas are usually characterised by an asset-intensive environment. The costs associated with operating and maintaining this is significant, and more so where infrastructures are ageing or unsupported by a pro-active maintenance and life cycle renewal strategy. A growing number of governments have sought to take these costs “off balance sheet” through privatisation, on the premise that this reduces the taxpayer burden, transfers risk and creates added value for money. There continues to be a complex debate surrounding privatisation, the use of private finance and commercial management of public utilities, and this falls beyond the scope of this paper. This research reflects the notions of risk, risk management and how it may suitably be applied within the context of public utilities procurement and management. This study also considers the impact of “whole-life” evaluations of asset costs and considers the advantages and disadvantages of asset management methodology PAS-55.
Taking the Chinese context, the work then moves on to describe how asset management techniques are utilised in the Chinese potable water market – with a specific focus on risk. In addition, this research works on recognising the importance of the political landscape in China and the aggressive market growth that has characterised its economy of late. It is clear that whilst political risk is an important variable in the risk management process, the “management” of it can be exceptionally complex and fluid. Finally, current work demonstrates a wider research study focusing on the application of risk and asset management of wastewater recycling projects in China is required. Future work will examine how effective risk management procedures maybe embedded within a wider asset management strategy through the entire life-cycle of the asset, in particular, the quantitative and qualitative tools which may be developed in order to realise efficient methodologies.