Framework Development of an Asset Manager Selection Based on Risk Management and Performance Improvement Competences

• Published in: Safety (Basel) 2021, Vol.7 (1), p.10
• Main Authors: Maletič, Damjan, Pačaiová, Hana, Nagyová, Anna, Gomišček, Boštjan, Maletič, Matjaž
• Format: Article
• Language: English
• Subjects: analytic hierarchy process (AHP); Asset management; competences; Decision making; Hierarchies; Human resource management; Knowledge management; Literature reviews; Multiple criteria decision making; Performance evaluation; Personnel selection; Risk assessment; risk management; Safety management
• ISSN: 2313-576X; 2313-576X
• DOI: 10.3390/safety7010010

This research focuses on proposing a framework based on an analytic hierarchy process (AHP) for the selection/evaluation of managers in the field of asset management. A hierarchical structure is constructed, encompassing the set of competences under the role of risk management and performance improvement of the Institute of Asset Management’s (IAM’s) competences framework. It also describes the AHP implementation and illustrates the entire process with an example that uses IAM competences as model criteria. A sensitivity analysis is also carried out to confirm the robustness of the proposed methodology. As per the findings, the AHP was proven to be a usable and reliable method in selecting the most appropriate asset manager. Therefore, it can help organizations to plan and develop the competences they need to meet current and future needs. This study is among the few studies that focus on competence requirements for people working in asset management. As such, a novel approach for selecting managers in the field of asset management is proposed by this study.