Yesterday I borrowed a book from library for the PMA. I prefer to Life Cycle Management as a Asset Management in the project. Because LCM covers produts, processes and services. it recognizes all prodduct life cycle stages. From our presentations, i got lots of findings related to LCM, which includes product after sell service,e,g. warranty, maintiance of machinery, recycling of the matierals from customer, create new production line, and opportunities for enter new market. From my research, I got the life cycle mamagement can help WaveRiders to analyse and understand life cycle stage of the business, products, and services, indentify the potential economis, social, or environmental risks and opportunities for each stage, identify opportunities to gain a stronger competitive advantages, reduce cost, design better products, and so on.
In order to suport LCM to achieve its advantages, we need to apply Knowledge Management on it. because KM comprises a range of practices used in an orgnaization to identify, create, represent, distribute and enable adoption of insights and experiences. the beneifts of KM on LCM likes reduce costs and unexpected items on design products, increase production speed because of relevant knowledge, improve product quality, and so on. However, by doing research, I have found a lot of barriers about doing KM successful, which includes lack of top management commitment, lack of methodology, lack of orgnaizational culture ,etc,. all of them are good for the PMA to analysis how to help WaveRiders to achieve excellence performance.
For the stucture of the PMA, so far, firstly i will introduce the current issues concern to LCM, then introduce the relationship between LCM and KM, next is to define the barriers for doing KM successful and how to solve it, finally, provide a strategy for WaveRider company to improve KM system to support LCM in order to get successful performance.