Managing Knowledge for Asset Management: Shifting from Process to Relational Frames

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 effective KM outcomes. In this paper, we argue that incorporating a relational approach to KM is more likely to contribute to the exchange of ideas and the development 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 management. KM is a component in the new Integrated Strategic Asset Management (ISAM) framework developed in conjunction with asset management industry associations (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 Management, 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.

Towards an Australian social housing best practice asset management framework

“…As depicted in Figure 7, this long-term life-cycle focus on the sustainability of services in social housing AM covers three broad areas (Wiewiora, Brown et al 2012):…”

“…Demand forecasting and management must involve current and prospective tenant consultation to ascertain location, dwelling type and dwelling amenity expectations. This is to achieve alignment of assets to user requirements (Wiewiora, Brown et al 2012).…”

“…Future demand should be analysed across dwelling typologies, household type and locations in order to plan to fund and develop complementary asset solutions. Wiewiora, Brown et al (2012) emphasise the need for customer-centric planning to obtain greater alignment of assets to user requirements. Demand forecasting and management must involve current and prospective tenant consultation to ascertain location, dwelling type and dwelling amenity expectations.…”