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Full-Text Articles in Management Information Systems
Improving Data-Driven Infrastructure Degradation Forecast Skill With Stepwise Asset Condition Prediction Models, Kurt R. Lamm, Justin D. Delorit, Michael N. Grussing, Steven J. Schuldt
Improving Data-Driven Infrastructure Degradation Forecast Skill With Stepwise Asset Condition Prediction Models, Kurt R. Lamm, Justin D. Delorit, Michael N. Grussing, Steven J. Schuldt
Faculty Publications
Organizations with large facility and infrastructure portfolios have used asset management databases for over ten years to collect and standardize asset condition data. Decision makers use these data to predict asset degradation and expected service life, enabling prioritized maintenance, repair, and renovation actions that reduce asset life-cycle costs and achieve organizational objectives. However, these asset condition forecasts are calculated using standardized, self-correcting distribution models that rely on poorly-fit, continuous functions. This research presents four stepwise asset condition forecast models that utilize historical asset inspection data to improve prediction accuracy: (1) Slope, (2) Weighted Slope, (3) Condition-Intelligent Weighted Slope, and (4) …