Abstract for: Life Cycle management of physical assets

Complex technical systems have a long service life of many decades. In current practice, the different phases of the asset life cycle are often separate worlds. Significant improvements are achieved by connecting these phases: in the design phase, insight into the use phase and the important performance indicators for this. With decisions regarding physical assets, we commit ourselves for a longer period of time, while the environment changes rapidly. In these decisions, we must take into account the interests of different stakeholders. In order to make the right choices, it is important to connect the different perspectives and to understand together how the decisions affect what we find important. Together we can improve future performance, costs and risks (e.g. concerning safety or the environment). In this contribution we present an example of a system dynamics model (based on a real life application) which integrates and connects different interests, life cycle phases, aggregation levels and perspectives. Concrete quantified lifespan insights are shown giving insight in dynamics and uncertainties of the asset and the context it is operating in.