Analysis of asset management difficulties observed in Brazilian firms: a study based on expert survey and fuzzy TOPSIS

PurposeThe purpose of this paper was to understand the difficulties related to asset management observed by experts in Brazilian organizations in light of the requirements outlined in the ISO 55001:2014 standard.Design/methodology/approachA survey was performed with asset management experts. The collected data were analyzed using frequency analysis, hierarchical cluster analysis and fuzzy technique for order preference by similarity to deal solution (TOPSIS).FindingsBased on data analysis, the most critical difficulties observed were related to managing and controlling the impact of changes in the company that affect asset management objectives; to the committing to and supporting the asset management system by the top management of the organization; to manage the processes for dealing with risks and opportunities for the asset management system and plans, and correcting failures in asset performance; and to plan and conduct actions in an integrated manner to identify and minimize adverse impacts associated with the asset management system, and afterwards verifying their effectiveness.Originality/valueThe findings of this study have important theoretical and practical contributions, since they indicate the most critical points observed in asset management in Brazil, which can be used as a source for future research and by professionals to prioritize difficulties in future planning and develop action plans to overcome them. The step-by-step methodological approach presented in this study provides professionals and researchers with a replicable method of identifying potential asset management difficulties in a given specific reality.