introduction of knowledge-based asset management to waveriders team a3 hamed – meenal – jason...
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Introduction of Knowledge-Based
Asset Management to WaveRiders
Team A3Hamed – Meenal – Jason – Neo – Omm - Ivy
OverviewIntroduction
Knowledge-Based asset management criteria in the EFQM model
Asset ManagementFacilities Management
Safety
Maintenance
Environmental Management
Recommendations of implementing Knowledge Management
Conclusion
References
IntroductionKnowledge management is a real buzz with companies now.
Main challenge though is even though they know its really important , but the process to achieve that is still very difficult for them
Assets are More than a physical thing: can exist as contracts between legal entities, intangible. E.g. securities, patents, stock exchanges which can bring capability value and financial value
Hence, Knowledge-based asset management is very crucial to every company to ensure all those assets are managed and the knowledge are well distributed within the employees.
The Excellence Model – Starting with results
Results Enablers
Key performan
ce result
s
People Results
Customer Results
Society Results
Processes
People
Policy and Strategy
Partnerships and
Resources
Leadershi
p
Innovation and learning
The model in practice 2, 2005, p.20
EFQM Criteria
Wave Rider is trying to expand their share market in Europe And for our presentation, Wave Riders need to achieve a higher return on capital investment in the resources of the business.
EFQM criteria to meet the resources requirements:
External partnerships are managed
Finances are managed
Buildings, equipment and materials are managed
Technology is managed
Information and knowledge are managed
Assumption: Improvement need identified in Buildings, equipment and materials.
The model in practice 2, 2005, p.78-86
EFQM Criteria continued
Criteria to met to satisfy buildings, equipment and materials.
Utilising assets in support of policy and strategy
Managing the maintenance and utilisation of assets to improve total asset life cycle performance
Managing the security of assets
Measuring and managing any adverse effects of the organisations assets on the community and employees
Optimising material inventories
Optimising consumption of utilities
Reducing and recycling waste
Conserving global non-renewable resources
Reducing any adverse global impact of products and services
The model in practice 2, 2005, p.82
Outsourcing
Since WaveRider will be new in the EU market,
We would suggest a short term and long term plan.
Short term plan:Outsource experts in the market and technology boat market in the EU
Long term plan:Train your people and by adopting Knowledge management they will be able to use the knowledge so they can be independent in the future.
Outsourcing For Wave Rider
Marketing department ---- Market research consultant.
Product department ---- high technology
1. outsource Electric Boat technology from “Duffy Electric Boat Company”
2. outsource the high technology of powerboats from Stingray Boat Company
Benefits
WaveRider will have a better research to EU from the experts
Insure better quality products by outsourcing a well respected company.
Faster development and start up
Better Service
AL Heath. (2010). The Benefits of Outsourcing Facilities Management available from
http://ezinearticles.com/?The-Benefits-of-Outsourcing-Facilities-Management&id=4015919
[accessed at 12 April, 2010]
Information SystemBased on the strategic expansion, an information system connects stakeholders is needed (Suppliers, Wholesalers, Marketing Representatives, etc).
Sharing information of manufacturing, sales, inventories, new technology, etc.
Increasing efficiency and cost effective compared to traditional communication.
Saving environment, building up a paperless working environment.
Achieving knowledge in a better and broader way.
Keeping up with the change of technology and giving correct response.
Beneficial in the next 5-10 years
Information System
Suppliers: Online Order System, Online Tracking System.
Customers: Online Tracking System, Online Order system, Online Contact.
Administration: Online Conferences, Online Monitoring.
Employees: Blogs, Forums, Online Communication.
Manufacturing: Instant Monitoring, Inventory Information, Delivery Tracking.
Health and Safety
Risk Management
Look for the hazard
Decide who might be
harmed and how
Evaluate the risk and decide
whether the existing
precautions are adequate or
whether more should be done
Record your findings
Review your assessment and
revise if necessary
Health and safety executives (2003). Five steps to risk assessment.
Benefits
Morale: Employee motivation and satisfaction
Business Benefits: Preventing accidents and ill health
Reduce absences and sick leave
Retain staff
Organisation’s reputation
Boost productivity and profit
Reduced insurance premiums and legal costs
Economic: From financial perspective – damage to buildings/equipment, compensation payments, loss in production.
How to ensure better Health and Safety?
Training: educate the consequences of avoiding H&S
Leadership plays an important role to involve workers towards health and safety
Setting up an evaluation team to see what went wrong, so it doesn’t repeat in future.
Total Productive Maintenance (TPM)
Potential benefitsIncrease equipments effectiveness
Better product quality and less scrap and rework
Improved operator motivation and moral
Clean and safe working environment
Reduce breakdown maintenance work
According to the Illinois Manufacturing Extension Center research in 2004
Total Productive Maintenance (TPM)
AssumptionWaveRiders has employees in production:
Operators 20
Supervisors 5
The average equipment failure rate: once every 1.5 months
WaveRiders currently does not have any maintenance plan
Total Productive Maintenance (TPM)
Basic maintenance programInitial cleaning: eliminate dust and dirt on equipment bodyPrevent the cause of dust, dirt, and liquid spattering: improve the parts that are hard to cleanEstablish cleaning standards General visual inspection: refer to instructions in equipment manualStandardize the individual workplace: standards for cleaning inspection, data recording, tools maintenanceDevelop checklist
Total Productive Maintenance (TPM)
Draft proposed planGoal: reduce equipment failure to 1 times/2months or less
Develop maintenance plan for each equipment, e.g. weekly cleaning for wood cutters
Supervisor in each team responsible for maintenance checklist and record
Every equipments inspected and checked monthly
Environmental Management
Air
Sea creature
s
Ocean
Atmosphere
Toxic Waste
River
Vision
Achieve competitive advantage by creating an
environmental friendly product
Grades of environmental management
Reactive
Proactive
Hutchinson, A & Hutchinson, F (1997). Environmental business management: sustainable development in the new millennium. London:McGraw Hill
Method
Linear Model
Hutchinson, A & Hutchinson, F (1997). Environmental business management: sustainable development in the new millennium.
London:McGraw Hill
A waste minimization strategy
Goodall,C (1999). The Green Guide for business: the ultimate environmental handbook. Third edition.London: Profile Books.
Holistic Approach
Suggested Long term plan
Duration Action
1-2 years Develop the company’s foot with the environmental management systemsAchieve Grade 2
2-5 years Develop a continues environment improvement plan that covers on health of employees and the surrounding community, pollution of air, water and land and review those stepsAchieve Grade 3 and start with Grade 4
5-20 years and so on
Maintain a holistic approach to the environmental management that balance all the aspects mentioned beforeAchieve Grade 4 and 5
Benefits towards the company
• Desire for good publicity ( according to the Green Environment Foundation, Green safe products has shown a 40% increase in sales since 1995 in Europe and 55% in the USA ) so can be used as a marketing strategy.
• Avoid any fines, or any environmental law cases.• Avoid any insurance costs.• Cost Reductions, through savings in material and
energy use and waste disposal cost.
• Improve product quality.
• Reduce Risks within the employees.• Improve safety performance.• Satisfy the employees ethics and making them
enthusiastic to work for a good reason
• Management Morale: to have an environmental policy in which pride can be taken
• Staff morale: Mostly the pressure of adopting an environmental policy comes from a firm staff.
Hutchinson, A & Hutchinson, F (1997). Environmental business management: sustainable development in the new millennium.
London:McGraw Hill
The knowledge Cycle
Conway,S (2002). Unlocking Knowledge assets: solutions from Microsoft. Washington:Microsoft press
Learning Orginization
RecommendationWaveRiders Need to create a community of practice team that will be responsible for managing the knowledge based asset.
Communities of Practice
•Web Parts•Content Management•Communications•Taxonomy
• Leader• Sponsor• Knowledge workers team
Support People
Knowledge management team
Key Team members Role and knowledge Base
Accountants • Ability to help estimate the replacement cost of assets. • Knowledge of the existing financing strategy, potential financial resources and challenges, and the need for rate changes.
Human resources • Ability to manage the knowledge that concern the employees and any training required.
Maintenance engineer • Responsible to manage all the maintenance knowledge
Market analytic consultant ( outsource ) + in-team member
• Knowledge about the EU market•Competitor analytic knowledge•Customers requirement knowledge
Production design and development engineer ( outsource ) + in-team member
• Manage the assets and facilities knowledge that determine any decision to make the final products.
IT engineer Ability to determine the most practical way to collect, store, and present the information needed to make strategic decisions.
Health and safety Engineer
• Make sure the information gathered and interpreted by the employees are under the safety regulations
R&D • Ability to use all the information gathered for research and development reasons
Environmental engineer • Manage all the knowledge to deliver an environmentally friendly product
Interaction of the community of practice team with WaveRider
Knowledge Management Team
Conclusion
“ There will come a time when you believe everything is finished. That will be the beginning” Louis LaAmour
Knowledge management has been gradually unlocking the enterprises intellectual properties,
That’s why, its crucial for WaveRider to develop a solid knowledge management team to help the organization turn to a learning organization.
Knowledge lives
employees Brain
Paper Doc-uments
Electronic documents
Electronic knowledge base
42%
20%
20%
12%
o A study in 700 U.S companies shows that only a small portion of corporate knowledge is in a form that can be shared rapidly. The majority of knowledge resides in the brains of employees and in documents that are difficult to share.
oCompanies like, GE, BP, Microsoft, and many more has been using knowledge management as a key factor towards the road to excellence, and departments and teams and information system infrastructure has been created in those companies to ensure that KM is implemented.
Dubrin (2007)
References • Goodall,C (1999). The Green Guide for business: the ultimate
environmental handbook. Third edition.London: Profile Books.
• Hutchinson, A & Hutchinson, F (1997). Environmental business management: sustainable development in the new millennium. London:McGraw Hill.
• Conway,S (2002). Unlocking Knowledge assets: solutions from Microsoft. Washington:Microsoft pres
• The model in practice 2: using EFQM excellence model to deliver continuous improvement. (2005). London:British Quality
• Health and safety executives (2003). Five steps to risk assessment.
• Stylusinc (2008) What can I outsource available from http://www.stylusinc.com/Common/Concerns/WhatToOutsource.php [accessed at 12 April, 2010]
AL Heath. (2010). The Benefits of Outsourcing Facilities Management available from http://ezinearticles.com/?The-Benefits-of-Outsourcing-Facilities-Management&id=4015919 [accessed at 12 April, 2010]
Duffy boats company http://www.duffyboats.com/index.html [accessed at 12 April, 2010]
Stingray boats company http://www.stingrayboats.com/ [accessed at 12 April, 2010]
Amadi-Echendu. J et al (2007). WHAT IS ENGINEERING ASSET MANAGEMENT. presented at 2nd World Congress on Engineering Asset Management (EAM) and the 4th International Conference on Condition Monitoring, Harrogate, United Kingdom, 2007.
Hodkiewicz. M and Pascual. R (2006). Education in Engineering Asset Management – current trends and challenges. International Physical Asset Management Conference, Tehran, 28th -31st 2006.
Scholl. W, Konig. C, Meyer. B and Heisig. P (2004). The future of Knowledge Management: an international delphi study. Journal of Knowledge Management. Vol. 8. No.2. pp 19-35
Illinois Manufacturing Extension Center (2004). Total Productive Maintenance. Retrieved on 13th April, 2010 from IMEC Business Improvement Specialist website: http://www.imec.org/imec.nsf/All/Total_Productive_Maintenance?OpenDocument
Bamber, C. J., Sharp, J. M.,& Hides, M. T. (1999). Journal of Quality in Maintenance Engineering. Factors affecting successful implementation of total productive maintenance. 5(3), 162-181. Retrieved from Emerald database.
Productivity Inc. (2008). Introduction to TPM: Objectives and Benefits. Retrieved on 13th April, 2010 from Productivity Inc. website: http://www.productivityinc.com
Katila, P. (2000). Applying Total Productive Maintenance: Principles in the Flexible Manufacturing Systems. Retrieved from Lulea Tekniska Universitet database.
Barclay, R. O., & Murray, P. C. (2000). What is Knowledge Management? Retrieved from Knowledge Management Associates database
Dubrin (2007). Leadership: reasearch findings, practice, and skills. Fifth edition. Boston:Houghton.