Reflective Journal on Asset Management and Coastal Protection

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REFLECTIVE JOURNAL
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Contents
Introduction............................................................................................................................................3
Workshop 1............................................................................................................................................4
Topic 1: Fish Bank Simulation.........................................................................................................4
Topic 2: Strategic Asset Management.............................................................................................5
Workshop 2............................................................................................................................................6
Topic 5: Sea Wall Site Visit...............................................................................................................6
Topic 6: Asset Capability Delivery...................................................................................................7
Conclusion..............................................................................................................................................8
References...............................................................................................................................................9
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Introduction
In this Reflective Journal, there is a sharing of my understanding and what I have learned through
workshop one and workshop two. There are many topics are listed in the workshop one and workshop
two respectively but I have selected a total of two topics from each workshop. The total of four
journals on which I have to do study and these journals helps me to provide the information about the
experience of the workshop, lecture course, and learning tutorials. All these things have to be
discussed in this reflective journals, this study helps to know about new things that useful for future
purpose.
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Workshop 1
Topic 1: Fish Bank Simulation
Here I choose this topic “Fish Bank Simulation” because it gives information about multi-user
simulation for exploring the marine fishery management. The goal of this fish bank simulation is to
manage the fishing company for maximizing the total assets of the company and also competing with
the other companies which are working for the same targets or goals. Here the learner directly feels
the realities that are being studied. I have study this topic on the basis of stages of learning by
experience this is a cycle that I have to follow on this topic and that is named as Concrete Experience,
Reflective Observation, Abstract Conceptualisation, and Active Experiment. There is an activity
conducted by forming the team that is consists of three or four people and identify also from
identifying the spokesperson only for the board. At the very initial steps, the three ships have to be
provided and to sell these ships to the other companies through bidding. And these ships have to be
taken for any type of use there is no restriction for the usage of these ships. The buyer for these ships
have no restrictions even they put these ships for fishing in deep seas or they use these ships in the
harbor or use in the coastal areas. Any action is to be taken by the new owner of these ships. It is a
necessary part for the students to manage and also learn about the challenges and the need for
resources in the common pool. There are many things that I have covered from this topic such as
environmental studies, team buildings, negotiations, economic, leadership and sustainability (Travers,
et. al., 2010). The Fish Bank Simulation gives he experience, here different person play the role of the
fishers and also try to achieve maximum assets by competing with the other person. The winners of
this activity of fish bank simulation is that who has the highest net worth in the game last.
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Topic 2: Strategic Asset Management
I choose this topic of strategic asset management because it gives the experience about how a person
can manage the work in the organization or somewhere else with a positive attitude. First talk about
what really strategic asset management is? It is basically the application of the Asset management
across the business utility in the entire company. The strategic asset management begins with the
corporate mission and plan that continues with the technical and also non-technical utilities of areas.
This helps to improve the performance, reduce the costs, creation of the new opportunities and the
most important things is the reduction of the risks. The main objective of the strategic management is
it helps to bring the professionals of the industry to identify and to develop the ways to the common
issues through network opportunity for the utilities and innovation. Enveloping the other business,
and it is important to apply SAM for example on information management, stakeholder's
management, and etcetera. The company which has managing and owns assets get great lifetime value
and they constantly get busy (El, et. al., 2018). The meaning of asset management system is that helps
to establish the asset management policy and also the objectives and process the objectives. The main
meaning of Strategic Asset Management is how to objectives of the organization is to be converted
into the objective of asset management. Here in this topic I also learn about the integrated strategic
asset management that it brings engineering, sustainability, economics and human elements that help
to form a holistic approach. The integrated approach should be considered:
Environment: It is mainly the interaction in the built assets and the natural environment.
Sustainability: It keeps healthy for the future generation by ensuring the need for the environmental
and also the economic needs (Basak, et. al., 2014).
Resilience: It is to recover from the external impacts like environment and to increase the attention of
the assets.
Information management: There are different capabilities and needs that are demanding and also
complex.
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Workshop 2
Topic 5: Sea Wall Site Visit
I choose this topic because it helps to understand design and the location of the Gold Coasts Sea Wall.
This topic helps to understand the four main purposes of the sea wall and also to identify the sea wall
stakeholders. There is also a list of ways from which stakeholders are impacted by the sea wall. Sea
wall on the Gold Coasts are made by the large metal that is under the sand and this helps to protect the
properties of others and also the infrastructures. It is constructed based on the alignments that are
approved and known as A-line. This type of alignment is established by the government of
Queensland. The A-Line alignments are defined by the factors such as the presence of existing walls,
and to ensure that the line is smooth on the foreshore. The sea wall is the type of insurance for the
buildings parks, and other coast assets based that prevents us from cyclones and other weather based
effects to the city (Didenkulova, et. al., 2016). There is a great economic value for the infrastructure
of the Gold Coasts beaches and Coastal. In September 2017, there are approximately 5.2 million
visitors are spending $4.4 billion. In the year 1967, there are so many storms effects the erosion of the
beaches of the gold coast. Many properties were damaged at the time of storms so they realize to
needs protection against these storms. In the year 1970s engineer's sea wall is constructed on the 42
kilometers coast (Ali, et. al., 2013). The sea wall is made up of clay, rock, and metals with sand
fillings. The purpose of making this sea wall is that this sea wall has four functions that are distinct:
Delineate the Boundary: Delineate of the boundary between the sea and land for the development
within the zone of the natural beach movements.
Retain The Ground: this is the slope from the land to the sea at the coastline. It prevents us from
ground slippage.
Protect ground from wave: this means that consisting of the sea wall that resists the erosion.
Wave inundation: Sea wall provides protection from the heavy waves that is especially occurred
during the storm. The physical heights of the sea help to provide the barriers in front of the wave
inundation (Buccino, et. al., 2015).
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Topic 6: Asset Capability Delivery
The main objective of this study due to which I have chosen this topic for the study is that it provides
some useful example of asset capability becomes deficient for the requirements. Here it also describes
the process of the capability delivery that helps to form systems engineering. This topic helps to
understand the strategic value for the influencing of stakeholders and the concept of selection that
supports the business strategy. It is carried out by the system creation. The system engineering helps
to show how systems are classified for the delivering actual service to the customers and it not all
time involves the use of the physical assets (Arthur., et. al., 2014). There are two different scenarios
where there is a need of capability delivery is that in the first scenario the new system is to be created
to fulfill the need and it is known as green field's project. And in the second scenario, the modification
is done on the existing system to fulfill the changing need. Here is also a discussion is on Demand
Management, it is an important process that includes demand analysis, and needs solution for the
demand at the early side of the life cycle (AM). The open study is the first part of Demand
Management. The main purpose of demand management is to define the stakeholder's needs. The next
steps in the demand management are to analysis the demand is to be undertaken in order to maintain
the demands of the stakeholders internally and externally both (Chen, 2011).
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Conclusion
Here in this reflective journals, we discuss the four topics the first two is from the workshop one and
the rest of the two topics is from workshop two. The first that we have discussed is fish bank
simulation, the next is strategic asset management, and the third one is sea wall site visit and the last
one is asset capability delivery. In these four topics, I learn about many things and strategies that will
be helpful for future purpose.
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References
 Ali, Alfatih, Thiem, Øyvind & Berntsen, Jarle 2013, ‘Numerical simulation of flow and
aquaculture organic waste dispersion in a curved channel’, Ocean Dynamics, vol. 63, no. 9,
pp. 1073–1082.
 Arthur, R. & Kennedy, J. 2014, ‘Procurement and Delivery of Required Performance: Case
Study’, Australian Journal of Multi-disciplinary Engineering, vol. 11, no. 1, pp. 23–35.
 Basak, Suleyman & Makarov, Dmitry 2014, ‘Strategic Asset Allocation in Money
Management’, Journal of Finance, vol. 69, no. 1, pp. 179–217.
 Buccino, Mariano, Stagonas, Dimitris & Vicinanza, Diego 2015, ‘Development of a
composite sea wall wave energy converter system’, Renewable Energy, vol. 81, pp. 509–522.
 Chen, Tsung-Yi 2011, ‘Value ontology-based multi-aspect intellectual asset valuation method
for decision-making support in k-commerce’, Expert Systems With Applications, vol. 38, no.
5, pp. 5471–5485.
 Didenkulova, I., Pelinovsky, E. & Rodin, A. 2016, ‘Run-up of surface waves on a sea wall
built on a convex bottom profile’, Oceanology, vol. 56, no. 4, pp. 483–490.
 El-Akruti, Khaled, Kiridena, Senevi & Dwight, Richard 2018, ‘Contextualist-retroductive
case study design for strategic asset management research’, Production Planning & Control,
vol. 29, no. 16, pp. 1332–1342.
 Mahi, Humaira 2010, ‘Women-Oriented Health Literacy As an Asset/Capability in a
Subsistence Community’, Advances in Consumer Research, vol. 37, accessed from .
 Povey, David & Peach, Neil 2013, ‘Understanding and implementing strategic asset
management at the University of Southern Queensland’, Facilities, vol. 31, no. 7/8, pp. 343–
356, accessed from.
 Travers, M. & Shin, Y.-J. 2010, ‘Spatio-temporal variability in fish-induced predation
mortality on plankton: A simulation approach using a coupled trophic model of the Benguela
ecosystem’, Progress in Oceanography, vol. 84, no. 1, pp. 118–120.
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