All entries for May 2011

May 30, 2011

KBAM

Among the various engineering assets that require management, one of very high importance is maintenance management. There is no question about the significant effects and savings gained both in terms of increased efficiency as well as higher savings from the implementation and practice of asset and maintenance management systems. The competitive advantage as well as the profits gained is well documented through various books and journals. Every business needs different kinds of equipment in order to produce their output. With various improvements made to these equipments with the changing technology brought about to increase productivity, efficiency, etc. the cost of these assets and equipments have increased dramatically. Hence, when these assets are not put to optimal functional or operational state heavy losses are faced by the organisation. For example, the biggest asset in the airline industry are obviously their airlines, and when just a single airline is out of action the estimated losses faced is roughly half a million dollars. All assets over time, degrade, age and decrease in value till it reaches a stage where it is not fit for operational purposes. The rate at which these assets degrade depend on various factors, like the design, the working environment, the assembly stage, etc. But another factor that plays a big factor on the rate at which assets degrade is the operational as well as maintenance practices applied by the organisation. The maintenance practice could be corrective maintenance (CM) where actions are taken after the failure of the asset or predictive maintenance (PM) where preventive measures are implemented along with good practices during the operational stage. A significant percentage of the operational budget, as a result is allocated towards the maintenance activities ranging from 5% right up to 50% depending on the industry.


May 02, 2011

Knowledge management

Identification of knowledge involves analyzing the current knowledge situation available within the organization and making it available to all employees that require it. Knowledge can also be acquired from the external environment and then integrating it into the knowledge data base existing within the organization. This knowledge can be gained from competitors, customers, partners, suppliers, etc. The members of the organization on the boundary of the organization have a big role in the acquiring of knowledge. Knowledge that is essential but not available through this method could also be gained by recruitment of people or even acquisitions of other organizations, resulting in a win-win situation. In addition to knowledge acquisition, knowledge can be developed within the organization to complement the acquired knowledge by developing new skills, ideas and processes Possession of the knowledge in the company is of no use unless it is shared and distributed throughout the organization so that it is easily accessible when required. It is the knowledge goals that give direction and order to identify what are the skills that are required and what needs to be developed or acquired. Knowledge needs to be developed that is required for the success of the organizations objectives and not be allowed to develop with the flow.


where decisions fail

After going through the Pma, some of the main reasons why I believe decisons might fail are

  • quick instinctive decisions: this is obviously not considering a decision like removing your hand from something hot but more with gut feeling decisions when there are multiple possible options to consider
  • The assumptions: the assumptions are of vital importance.Both made as well as what we already have due to our background  Each assumption made, if done wrong could result in an entirely different answer and decison taken
  • Ignoring what is in front of us: this being rooted in bias and gut instinct, we might tend to look for the answer that we want, and not for were the information leads us
  • Prioritising the wrong factors: again pretty much bias. what i find important might not be wat the organisation wants

May 01, 2011

personal influences

While not directly related to the decision tools or methods, another very important factor that comes into play is the person making the decision. Looking back at how we went about deciding the methods for each of the criteria, each of us had various different views on which decision tool for which decision. I suppose its due to the past experiences of the person along with his or her personality style. As a result, arent each one of our decisions ideal only for our own requirements. Does not each decision taken by any person require it to be modified depending on the requirements of the person who you are helping. Imagine the case of the waveRiders itself, what we suggest and might make logical sense to us, does not necessarily be what is best for waveriders. So in the real world situation too, how can recommendations made by consultants be completely accepted??

 


May 2011

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