Reflective Journal Part A: Strategic Asset Management (MNG92100)

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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
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Table of Contents
Introduction......................................................................................................................................3
Workshop 1......................................................................................................................................4
Topic 2 – What is Asset Management and Asset Management Strategy?..................................4
Topic 4 – Asset Management Frameworks (SP).........................................................................5
Workshop 2......................................................................................................................................6
Topic 7 – Asset Management Decision Theory and case study..................................................6
Topic 8 – MIT Fishbanks Simulation Revisited..........................................................................7
Conclusion.......................................................................................................................................8
References........................................................................................................................................9
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Introduction
In this report, from this reflective journal so I am sharing my view in this report which I analyzed
and find from both workshops which is very beneficial for our course. I have discussed different
topics which are the part of the workshop and concluded the topics keeping their sustainability in
mind. In this reflective journal is about the assets management which is related to our course
lectures, and by this workshop, we learn from the experience. In this report, I mention about
various topics and their solution.
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Workshop 1
Topic 2 – What is Asset Management and Asset Management Strategy?
From workshop one I have select the STRATEGIC ASSET MANAGEMENT. This is one of the
important topics of our course which help to understand the management of assets and strategies
to get the goal (Basak & Makarov 2014). From this topic, I understand how strategy helpful for
any situations such as war, politics, sports, business, or the skills of planning which direct us for
working efficiently. For assets management, it is very important to guide the overall
management activities within an organization. A strategy meant to explore long term issues and
decline uncertainty chances (Ananthram. et, al., 2014). The strategy is playing its role in a
different sector, but we have to understand the business strategy for any organization to achieve
its goal. A business strategy is a set or groups or principles which guide the organization; it is a
pattern or systematic process of getting the organizational goal.
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Topic 4 – Asset Management Frameworks (SP)
From the first workshop, I have select the second topic as STRATEGIC INFRASTRUCTURE
ASSET MANAGEMENT here they explain about how assets management is important and what
is meant by assets management standards. As we know, assets are the basis of any organization.
Good assets are valued for money if it is tangible or intangible so to maintain, coordinate and to
plan, utilize managing the assets are the assets management (Basak & Makarov 2014). It is done
by professionals who invest in a different portfolio to get the cost of capital of the investor.
Assets Management is maintained by the help of strategic assets management whose aims to
produce such value as improved assets performance, reduction the cost, creation of new
opportunity reduce uncertainty. It is the application of assets management across the entire
organization (Abdelhamid. et, al., 2018). Strategic Assets Management Plan main focus on the
documents in the strategic initiatives required to fill up the gap between current Assets
Management performance and the performance required to achieve the present assets
management objectives. In the workshop, they discuss different topics like Development of AM
Strategy, Importance of Asset Data, and Risk-driven asset planning (Povey & Peach 2013).
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Workshop 2
Topic 7 – Asset Management Decision Theory and case study
In this workshop, I take one topic to analysis which is Asset Management Decision Theory. In
the current generation as we know how difficult to manage the assets and taking effective
decisions to get high returns from investments. Assets management decisions must be taken
under the consideration of coordinating the activity of an organization to realize value from
assets (Povey & Peach 2013).It can affect the costs, opportunity, risk against the desired
performance of assets; decisions should achieve the organizational goal. There is a different
process of assets management decisions are:
1. Assets Centric Decisions
2. Management Centric Decisions
In this decision, context is also discussing in the workshop which means the internal and external
context supports to make effective decisions according to the situation (Ananthram, et. al., 2014).
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Topic 8 – MIT Fish banks Simulation Revisited
The second topic, I have taken is MIT Fish banks Simulation Revisited in this the people during
the workshop, the workshop team conducts a game for everyone in the workshop where they get
a goal in workshop 1 (Abdelhamid. et, al., 2018). In this game everyone is in a different team
where we have to maximize our net worth at the end of the game, the team ended with the
highest net worth will be the winner. It helps the people to understand the difficulties suffer by
the asset manager during decisions (Basak & Makarov 2014). It gives a real-time or practical
experience for us. I learned a lot from this topic because it is an activity were all steps for assets
management are included and gives the experience to manage our assets in the right manner.
From the activity, I can rectify my mistakes and can improve it for the next time (Povey & Peach
2013).
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Conclusion
In this report, I discussed the topic which reflects the learning form workshop one and workshop
two and analysed the importance and need for assets management in every step of business to
achieve organizational goal. Here I discussed problems that arise during the assets management
decisions plan in an organization. I have learned about how to manage our assets to increase the
net worth. The fish bank game is so effective and beneficial for me because the practical
experience is better than theoretical experience. After attending two workshops it helps solve my
doubts.
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References
 Abdelhamid, M.S., Beshara, I. & Ghoneim, M. 2015, ‘Strategic asset management:
Assessment tool for educational building in Egypt’, HBRC Journal, vol. 11, no. 1, pp.
98–106. Available at: https://www.journals.elsevier.com/hbrc-journal/?
s=Strategic+asset+management
 Ananthram, Subramaniam, Nankervis, Alan & Chan, Christopher 2013, ‘Strategic human
asset management: evidence from North America’, Personnel Review, vol. 42, no. 3, pp.
281–299. Available at:
https://www-emeraldinsight-com.ezproxy.scu.edu.au/doi/full/10.1108/004834813113204
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 Basak, Suleyman & Makarov, Dmitry 2014, ‘Strategic Asset Allocation in Money
Management’, Journal of Finance, vol. 69, no. 1, pp. 179–217. Available at:
https://onlinelibrary-wiley-com.ezproxy.scu.edu.au/doi/full/10.1111/jofi.12106
 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. Available
at
:https://www-emeraldinsight-com.ezproxy.scu.edu.au/doi/full/10.1108/02632771311317
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