Edited by Dr. Ian Jennions, Director of the IVHM Center at Cranfield University in the U.K., the book tackles the most important questions on the transformation of business from selling a product, and deriving future income from spare part sales, to selling a service in which income is received in return for effective maintenance of the asset. The resulting service business requires a much deeper understanding of how the product is used and should be maintained, thus providing the rationale for Integrated Vehicle Health Management- IVHM.
Chapter highlights include:
- How to calculate the return on investment of an IVHM system
- How real options can be used for decision making
- How the availability of prognostic information affects maintenance
- The business potential of structural health monitoring in aeronautics
Integrated Vehicle Health Management: Business Case Theory and Practice includes interviews with manufacturers and suppliers on how they are marketing one-of-a-kind services, and opening up new and sustainable revenue streams.
Case studies are also introduced to demonstrate the real value of condition-based maintenance, the advantage of cost avoidance and risk mitigation for high-value assets.
The objective is to provide the tools and techniques for constructing a business case while also providing some of the context in which these variables are framed.
Directed at industry professionals as well as researchers and students, Integrated Vehicle Health Management: Business Case Theory and Practice fills an important gap in this emerging body of knowledge which unites the technical and the business aspects of a paradigm shift.
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