Strategy and specific requirements for the Asset Team members - Coursework Example

?ASSET MANAGEMENT Task Role and Mission ment For a national project of this nature, which demands the input of highly sophisticated technology, hardware, software, tangible, and intangible resources, the need to have a vibrant asset management in place cannot be overemphasized (Gardener, 2001, p. 34). As the task of asset management sets in, the role of the asset manager and his team also becomes very eminent. In a very clear sense, the role of the asset manager would be to control the in-flow and out-flow of all forms of asset that the company would need in the implementation of the present task. In the discharge of roles as an asset manager, there are clearly going to be some major challenges that would have to be overcome. These challenges would broadly be put into resource input challenges and resource output challenges. As far as resource input challenges are concerned, the asset manager envisions that as this is practically the very first oil and gas mass exploration, the in-flow of needed resources and equipment may be difficult. The resources generalized may include financial resource, human resource, as well as technological resources (Oxford University Press, 2007). As an asset manager, it is only when resources come in their right quantities and quality that control of asset can be made easier (Ruddick, 2012). On the part of resource output challenges, the asset manager envisages that the present time frame of 12 months may result in a situation whereby project managers would be in rush to get tasks executed. As a professional however, the asset manager must ensure that the delivery of resources for the execution of tasks go through all needed systems without compromising to the rush that may come from the project managers. In bid to go about the roles in a manner that rises above the identified challenges, the little strategy to be put in place would be to do things different from the usual step out projects for established projects. For the current case, this differentiation will be outlined by following a more robust international standard and model that shifts the paradigm from an era where the asset manager merely becomes an implementer of instructions from the project manager. In place of this, the asset manager would take up a dynamic role of ensuring that the required assets are available for use in both their tangible and intangible senses. Again, the asset manager would ensure that project delivery is undertaken without a compromise to any acts that fall outside the stipulated scope and system definition. Based on all the issues outlined above, the mission statement for the asset team members will to “to deliver a globally competitive asset management standards that meet the demands of the project at both the asset in-flow and asset out-flow stages.” Task 2: Asset Manager and Asset Management Team Strategy and specific requirements for the Asset Team members The strategy for the asset team members would be doubted as “independent dynamism”. This strategy is made up of two major aspects, which are the need for asset team members to be independent in their decision making and the need for asset team members to be proactive and dynamic in their decision making. This perspective of strategy is adapted because of the generalized mission to ensure that the service delivery that should come from the asset management of the project would be a globalised one that can rightly compete with global models. To do this easily, the asset team members are each expected to possible a competence requirement of decisiveness, action driven, goal oriented and independent mindedness with an ability to work with minimal instruction. How the Asset Team members will be sourced The search for asset team members will be undertaken on a well rehearsed scale and according to a well coordinated pattern. Such an approach is expected to result in a situation whereby nothing but the best of human resource will be sourced for the project. To this end, there shall be a specialized recruitment and selection procedure that will take place on a peripheral level. What this means is that invitation for application for recruitment shall be extended to all potential members from within and without the company. This would ensure that as many talents as possible are sampled and that as much competition as possible exist among the applicants. Job specifications and requirements shall be spelt out and critically examined for each applicant. A team consultants and technocrats in the field of asset management would then undertake the final selection based on a teamed interview section for each of the applicants. What this means in the long run is that each person who becomes a member of the team would have to justify his or her inclusion in the team. input from the HR function for the successful recruitment and development of the team As indicated earlier, the selection process shall not follow a sole selection approach but a team selection approach. What this means is that the asset manager would need the professional input of as many other members on the project team as possible. If for nothing at all, it is the asset of the other members that these team members will be managing and so they should have a hand in their selection (Investopedia, 2012). Specifically with the human resource function, the HR manager would be consulted to establish his direct presence in the recruitment process to ensure that the candidates are well equipped in their ability to relate well with all other members on the project. As quickly as the selection is completed also, the HR manager will be admonished to give a specialized orientation to the new recruits on how they can easily adapt to the organizational culture of the company. Potential tensions with other Project Team members Potential Tensions Resolution Approach Inter-personal communication Orientation for recruits on the communication dynamics of the company Stamping authority on how and why certain pertinent request for resources should be denied An inter-departmental orientation for all departments on the role of the asset team and why some of their requests will be rejected Getting their views and opinions through to the asset manager Orientation on the organizational structure Task 3: Other Teams & The Organization Chart Organization chart Relationship with the company senior management, and the teams sources of functional expertise Within the organization, a top-bottom management approach shall be utilized. What this means is that decision shall be taken from among the top managers of the various departments and these decisions and instructions shall be communicated downward to subordinates and junior ranked employees. The organizational communication gap shall however be flexible enough to ensure that that inputs are easily taken from those on the lower rank. What this generally means is that senior management members shall institute and use a democratic leadership style instead of an autocratic one to get the functional expertise of all employees coming to play. Principal inputs with respective teams Even though the need for independence of task delivery is being admonished, there are going to be moments of as much cooperated roles being played as possible. This is generally because the idea of working as a team and in a coordinated function does not defeat the idea of being independent (Cliff, 2009, p. 53). It is when the coordination is done in a manner that one team over shadows the functions of the other team that concerns of independence become raised. For the present circumstance therefore, the following are the coordinated roles that are expected to be played between three major managers namely the project manager, asset manager and the sub-surface team manager. Project Manager and Asset Manager: The project manager and asset manager shall have a lot of inputs to the project that will be carried out on a coordinate juncture between them. The spirit behind this coordination is from the fact that the project manager and asset manager have a lot in common as far as project delivery is concerned (Muller, 2002, 231). For example the project manager depends on the asset manager for the in-flow of resources whiles the asset manager depends on the project manager in knowing the scope of the project and thus scope of resources needed to carry out the project. To this end, some of the inputs expected from the project manager for the execution by the asset manager would include project scope, work breakdown structure, weighted scoring model, among others. It will be based on these inputs from the project manager that the asset manager will have a clearer idea about how much asset, be they intangible or tangible, that are needed and how the asset should be apportioned to ensure equity of distribution among the various departments of the project. Sub-surface Team Manager and Asset Manager: Between the asset manager and the sub-surface team manager also, a lot of coordinated roles shall be played. Most of these roles shall be inter-related and inter-dependent to ensure that there is an accurate delivery of tasks. For example, for the oil and gas project like this one, the role of the subsurface manager will be relevant to the asset manage when the role is played as the field operations manager who would keep the asset manager constantly informed on the outflow of resources that are pumped into the actual field where the exploration and extraction will be taking place (Ankomah, 2005, p. 55). Given the fact that the asset manager will not have the expert knowledge to understand some of the technicalities on the field of operation, he would have to depend directly on the subsurface manager for accurate and reliable information on how asset pumped into the project are used. Task 4: managing interfaces Managing interfaces with Asset and Project teams The present proposal is being put across on the need for there to be the realization of a series of interfaces to exist in the delivery of the present project. The first of such interface is that of asset and project teams. As explained earlier, the project asset management team cannot work in a vacuum but would need the effort of other project team managers. To this end, a strategy that is dubbed “inter-departmental network” is suggested. With this strategy, a minimum of two senior from each project team shall be put together in a team. Subsequently, the inter-departmental team members shall be expected to form a network with the entire asset management team. Once this is done, it would help in ensuring that the asset management team has a fair representation of all other teams in adjudicating resources to the team. There is an African proverb that says that it is when you closer to a river that you hear a frog coughing. Subsequently, it is when the project teams get closer to the asset team through the inter-departmental network that they would understand and appreciate the work of the asset team. This way, the project teams would also have their proposals for the allocation of resources coming directly to the asset team to ensure that all forms of bureaucracies and apathies towards the access to asset are broken. Managing Interfaces with other stakeholders in the project Apart from the project teams, there are other stakeholders whose interests must be protected through the present project. Common among such stakeholders who may not be directly involved in the execution of the project are the government and the populace who expect some levels of economic benefit from the newly discover oil and gas industry in their country. In the present proposal, a recommendation is being made that the strategy to be executed for an interface with government become one that looks more into the area of revenue generation whiles that of the populace look into the area of environmental protection. To this end, a strategy that is dubbed “external quality assurance program” is suggested. With this strategy, the project will draw on the need to depend on the external expertise and inputs from external and neutral auditors in the area of financial quality management and environmental quality management. The benefit that this strategy will bring at the early stages of the project is that is will help in promoting the confidence level of all stakeholders in appreciating the fact that the company is not only concerned with its personal gains from the oil and gas fine but also extending the gains to the region as a whole. The outcomes of the company’s audit reports on both the financial and environmental sectors will also be accepted as authentic as they will involve external consultants (Perry, 2008, p. 21). Task 5: Influence of Potential Projects Project cost estimating accuracy: The project cost estimation is likely to suffer a number of set backs in the light of the 6 potential projects. This is because recent research has established that the more open and wide a scope of project becomes, the lesser the success rate in keeping a more accurate cost estimation (Gabby, 2009, p. 51). Clearly, this would exist because they will be much entities to occupy in such a situation as compared to other situations were they are only a few projects to deal with. Time to implement: The implementation time will also suffer some levels of uncertainties as the number of potential projects become more. This is especially so as the start of some of the projects will be directly dependent on others. For example is project B depends on the completion of project A to begin, the implementation of project B may suffer a set back of uncertainty because the completion of projects are equally difficult to predict. Then again, the uncertainty becomes more alarming as the dependency rates increase (Tawiah, 2009, p. 421). New technology implications: As the need to execute the 6 potential projects set in, the demand for new technology will go up especially as the project managers will be under an obligation to complete projects on time so as to make way for new projects to begin. Technology is suspected to be a hot commodity in these times because new technology has generally been embraced as a system the enables the quick execution of projects as compared to the use of manual techniques (Perry, 2008). For CAPEX and OPEX, it is not expected that the demand for new technology would pose any deliverable constraints due to their experience and asset capacity. Post project operational performance: At the post project stage, the major issue that would have to be dealt with is the issue of evaluation and monitoring. This is because a completed project can never be said to have achieved its intended pre-production aims and goals if a comprehensive monitoring and evaluation study has not cleared the project as one that meets the value for money (Ankomah, 2005, p. 24). Subsequently, with the advent of more potential projects, it is admonished that the company widens its monitoring and evaluation department with the allocation of relevant tangible and intangible assets. REFERENCE LIST Ankomah, D. 2005. Dispensing Economic Partnership and Trade Reviews. New York: Dynamite Press Series. Cliff, T. 2009. International Trade Potentials. Cairo: Mighty Press Limited. Gabby, G. 2009. Trade Maximisation and Growth. Oxford: University Press Limited. Gardener, R. A, 2001, Financial Complexities in Global Market. London: Zion Press Limited Investopedia. Microeconomics. 2012. Web. March 27, 2012 Koduah A. W. R, 2001, Global Financial Act. Accra: Ultimate Printing Press Muller, S. 2002. Macroeconomic Indicators and Reactors. Munich. Alpha Publishers. Oxford University Press, 2007, PESTAL Analysis. [Online] http://www.oup.com/uk/orc/bin/9780199296378/01student/additional/page_12.htm [Accessed March 15, 2012] Perry, D. 2008. Macroeconomic Indicators and their Implications to Global Economic Growth. London: Oswald Press Association. Ruddick G, 2012, International Power sweetens GDF Suez merger with ?1.4bn cash for investors, The Telegraph [Online] http://www.telegraph.co.uk/finance/newsbysector/energy/7936043/International-Power-sweetens-GDF-Suez-merger-with-1.4bn-cash-for-investors.html [Accessed March 16, 2012] Tawiah, J. 2009. Financial Renaissance and the impact of Globalisation. Durban: PrintMark Publications Limited Read More