Managing knowledge for asset management : shifting from process to relational frames

Wiewiora, Anna, Brown, Kerry A., Dhakal, Subas P., & Mahmood, Muhammad Nateque (2015) Managing knowledge for asset management : shifting from process to relational frames. In Lee, Woo Bang, Choi, Byeongkuen, Ma, Lin, & Mathew, Joseph (Eds.) Proceedings of the 7th World Congress on Engineering Asset Management (WCEAM 2012), Springer, Daejeon, Korea, pp. 625-635.

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Abstract

The purpose of this paper is to review existing knowledge management (KM) practices within the field of asset management, identify gaps, and propose a new approach to managing knowledge for asset management. Existing approaches to KM in the field of asset management are incomplete with the focus primarily on the application of data and information systems, for example the use of an asset register. It is contended these approaches provide access to explicit knowledge and overlook the importance of tacit knowledge acquisition, sharing and application. In doing so, current KM approaches within asset management tend to neglect the significance of relational factors; whereas studies in the knowledge management field have showed that relational modes such as social capital is imperative for ef-fective KM outcomes. In this paper, we argue that incorporating a relational ap-proach to KM is more likely to contribute to the exchange of ideas and the devel-opment of creative responses necessary to improve decision-making in asset management. This conceptual paper uses extant literature to explain knowledge management antecedents and explore its outcomes in the context of asset man-agement. KM is a component in the new Integrated Strategic Asset Management (ISAM) framework developed in conjunction with asset management industry as-sociations (AAMCoG, 2012) that improves asset management performance. In this paper we use Nahapiet and Ghoshal’s (1998) model to explain antecedents of relational approach to knowledge management. Further, we develop an argument that relational knowledge management is likely to contribute to the improvement of the ISAM framework components, such as Organisational Strategic Manage-ment, Service Planning and Delivery. The main contribution of the paper is a novel and robust approach to managing knowledge that leads to the improvement of asset management outcomes.

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ID Code: 77908
Item Type: Conference Paper
Refereed: Yes
Keywords: Managing Knowledge, Asset Management
DOI: 10.1007/978-3-319-06966-1_56
ISBN: 9783319024615
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Innovation and Technology Management (150307)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Management
Copyright Owner: Copyright 2015 Springer International Publishing Switzerland
Deposited On: 21 Oct 2014 23:37
Last Modified: 03 Sep 2015 08:07

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