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April 17, 2013

KBAM – More Questions after Studying Asset Management


What- Asset Management is not only about managing fixed asset, for example, property, machines, chairs etc. I think Levitt (2005)'s definition on asset management really helps me to understand what asset can be defined, and this definition captures the core idea of what asset can be. The definition of asset is:

"Asset: may be a machine, a building or a system."

Therefore, according to Levitt (2005) asset could be a system. What kinds of this system could be then? It can be a system of health and safety management, a system of risk management and so on.

Why- The understanding of what asset really is gives me a total different thinking about asset management. This is so important because my old thinking on asset is only about tangible asset, and asset management is about how to manage the fixed asset. After I finish reading the lecture notes on Asset Management, I start to have a much broader understanding of what asset could be.

How- This learning point could be applied to our mini-project effectively. Our team should think about how does health and safety affect the WaveRiders, and how can they be managed more effectively? And of course, we shour first identify the areas of improvement of WaveRiders Company in health and safety. And think about why it is important? How can it be improved?

However, after reading the lecture notes on Asset Management, I come up with these questions:

1. After reading the content in Facility Management, I realise that most of the journals are talking about the benefits, advantages and positive of facility management. It is very interesting that they all tend to encourage facility management because it creates strategic advantages, competitive advantages etc (http://mood.wmg.warwick.ac.uk/mod/page/view.php?id=2532). What are the downside of facility management? What are the disadvantages? And what are the barriers? Of course, the cost could be a main factor that may prevent the company from the implementation of facility management.

2. After reading the content from Moodle, I knwo that asset management is central to provide a good working environment and supportive of core business activities. But I am not sure how does asset management, or facility management, benefits the core bussiness activities? And what does core business activities mean?

3. Why EFQM model is the ultimate goal of working on Asset and Knowledge Management? How does EFQM link with Asset and Knowledge Management?

4. How about people in the organisation? Are they part of "asset"?


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