All entries for Friday 27 April 2012

April 27, 2012

Asset Management + Benefits – Costs = ?

During this module while we were working on creating a plan for a company about its asset management, the financial aspects were at the back of our minds. Of course we knew that we were dealing with a SME, thus we didn't consider anything extravagant. It is true that some things in improving AM may cost nothing in terms of money.

Nevertheless, it is natural that some suggestions will require spending certain amounts of money. But on the other hand, it is not advisable to companies to spend more money on things that cannot afford. So, can a company do both? Improve significantly its current practices and spend as little money is possible?

To my mind, this in not always easy. A certain budget needs to be allocated for improving the asset management activities, but it needs to be flexible. Because, if companies want to improve their AM, but they have only financial criteria during their decision-making process, instead of the potential long-term benefits, then excellence seems impossible.

KM not only in companies!

Knowledge management is not important only for the companies, but for students as well! Let me explain what I mean by that. Today, after the team presentations we had a discussion about them, concerning more technical aspects of them. It was a common agreement that our presentation skills have improved significally! Yet, there are more things to be done in order to achive excellence in this part!

Although I was very confident about my team's presentation in the first place, we didn't actually have the time to finish it. As this thing has happened before, in other modules and other teams, we should have been more aware of it. Instead, we were thinking that we will have the time.

Thus, the 'lessons learned' for me from this fact can be compared with what companies can learn from KM. All the time knowledge and learning is generating. But you need to manage how to apply them, and what to include so that you pass the message across.

April 2012

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