Reflective Journal Part A: Strategic Asset Management (MNG92100)

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ASSIGNMENT COVER SHEET
Student Name:
Student ID No.:
Unit Name: Strategic Asset Management
Unit Code: MNG92100
Tutor’s name:
Assignment No.: 2
Assignment Title: Reflective Journal Part - A
Due date:
Date submitted:
Declaration:
I have read and understood the Rules Relating to Awards (Rule 3 Section 18 –
Academic Misconduct Including Plagiarism) as contained in the SCU Policy Library.
I understand the penalties that apply for plagiarism and agree to be bound by these
rules. The work I am submitting electronically is entirely my own work.
Signed:
(please type
your name)
Date:
MNG92100

Contents
Introduction.........................................................................................................................................3
Workshop 1..........................................................................................................................................4
Topic 3: Fish Bank Simulation.......................................................................................................4
Topic 2: What is asset management strategy.................................................................................5
Workshop 2..........................................................................................................................................6
Topic 5 – Site Visit to observe assets protected by the Gold Coast Sea Wall..............................6
Topic 6- Asset capability delivery...................................................................................................7
Conclusion............................................................................................................................................8
References............................................................................................................................................9
MNG92100

Introduction
Here in this reflective journal, I have to share my learning and understandings through
workshop one and two respectively. The two topics from each workshop have to be selected
by me on which I have done the study. The journals give information about lectures course,
workshop experience, and the learning tutorials. The various topic and their journals have
been provided in these journals.
MNG92100

Workshop 1
Topic 3: Fish Bank Simulation
I choose this topic because it gives me the information about harbour and companies bidding
under fish bank simulation. The first question arises in my mind is that what is fish bank
simulation, fish bank simulation is a common ocean where our company and also the
company of others will find an opportunity to grow their company. The initial steps are to
provide with the three ships and there is an option to sell this ship to other companies with the
help of bidding. There is no restriction for the buyer to what has to be done with those ships.
The ships have to be taken for any type of work like we put these ships in the harbour or we
take this ship for fishing in the deep sea or in the coastal areas. Any type of action will be
taken with these three ships and will have its own cost that is acquired. It is very necessary
for the students to learn to manage the challenges and resources in the common pool
resources (Reinhold, et. al., 2017). The economic, negotiations, environmental studies,
sustainability, public policy and leadership, and team building is to learn through this topic.
The fish bank simulation the experience where different players play the role of the fishers
and try to seek the maximum net worth while competing with the other players.
MNG92100

Topic 2: What is an asset management strategy
I choose this topic because I want to learn about Asset Management. The organisation that
owns and managing assets are constantly busy to obtain the greatest lifetime value. Asset
management provides a systematic approach to manage assets in infrastructure. The
integrated approach should be considered:
Environmental: this is the interaction between the natural environment and the built assets.
Resilience: it is to recover from the external impacts and to increase the asset, community
and the environment.
Sustainability: it ensures the environmental and economic needs of the community in
keeping healthy in future generations.
Information Management: there are demands and complex for the capabilities and
information needs.
There are many frameworks for the strategic Asset Management like ISAM that is developed
by AAMCoG, the ISAM focuses on the public sector and ISAM is applicable to any type of
organisation (Gârleanu, et. al., 2018).
MNG92100

Workshop 2
Topic 5 – Site Visit to observe assets protected by the Gold Coast Sea Wall
This topic is to be chosen by me to study about copper mine their process and the associated
utilities their brilliant infrastructure and their achievements. As the Cu and Au prices have
risen up and to take the advantage mine and the process plant expand their field of work to
gain profit. The basic outcomes of the Bougainville Copper Mine are the incredible mine, it is
the leading developing mine movements. They have the best infrastructure and housing for
their workers they are working on the fixed assets of the life cycle performances. The
Bougainville Copper Mine has an outstanding workforce and management. The purpose of
choosing this topic is to find the possible outcomes for making the boundaries between the
sea and the land. The main objective of the Sea Wall is to protect the land from the wave or
the current erosion. The threat of wave erosion has come from cyclones and the other storm
events. Sea Wall basically build to protect the land from flood and major high waves such as
Tsunami, this will help the people to protect themselves from the natural cause (Colven,
2017). The engineering design to operate the wall is fine, different types of the wall are made
to protect the land from sea waves (Hess, et. al., 2015).
MNG92100

Topic 6- Asset capability delivery
I have chosen this topic to find the information that how capability has becomes deficient for
the requirements over time. The capability of the system is carried out by the creation of the
system and this is the part of the real system of engineering. It is an interdisciplinary
approach that accesses the successful system. I have also learned about the demand
management which is an early process of the part of AM life cycle and this includes demand
analysis. The main purpose of demand management is to identify the needs of the
stakeholders for achieving business targets or objectives.
MNG92100

Conclusion
Here we discuss four topics in which we discuss the importance of Fish Bank Simulation,
strategic infrastructure asset management, sea wall visit, and the Bougainville Copper Mine.
There techniques and teamwork for achievements have been shown in these two workshops.
MNG92100

References
 Colven, Emma 2017, ‘Understanding the allure of big infrastructure: Jakarta’s Great
Garuda Sea Wall Project’, Water Alternatives, vol. 10, no. 2, pp. 250–264.
 Gârleanu, Nicolae & Pedersen, Lasse Heje 2018, ‘Efficiently Inefficient Markets for
Assets and Asset Management’, Journal of Finance, vol. 73, no. 4, pp. 1663–1712.
 Hess, Michael, Maidment, Ewan & Keimelo, Gima 2015, ‘Establishing the
Bougainville Mining Workers’ Union, 1969–1976’, The Journal of Pacific History,
vol. 51, no. 1, pp. 1–22.
 Reinhold, Ann Marie, Bramblett, Robert G., Zale, Alexander V., Poole, Geoffrey C.
& Roberts, David W. 2017, ‘Spatially Dependent Responses of a Large‐River Fish
Assemblage to Bank Stabilization and Side Channels’, Transactions of the American
Fisheries Society, vol. 146, no. 5, pp. 967–982.
MNG92100