Reflective Journal on Asset Management Workshop Strategies Analysis

This reflective journal analyzes the impact of workshop activities on asset management strategies. The author explores a case study of the FirstEnergy power blackout in 2003, highlighting the importance of preventative measures and risk management. The Fish Bank simulation is examined, emphasizing the challenges of managing renewable resources and the potential for short-term goals to undermine long-term success, leading to overfishing and potential business failure. The journal also discusses a visit to Kirra beach, focusing on the construction and renovation of seawalls to protect coastal areas, weighing the costs and benefits of constructing a new seawall versus modifying the existing one. The author concludes by emphasizing the importance of asset tracking, risk management, and informed decision-making in personal and business contexts, gained through these experiences.