Concepts and Scope of Engineering Asset Management

Question: Discuss about the Concepts and Scope of Engineering Asset Management. Answer: Introduction The corporations end up in engaging in various contracts from day to day basis that requires commitment from time to time. It is the duty of the parties involved to focus on the stipulated issue and ensure mutual benefit. It is highly unacceptable for the individuals to use the other parties for their own advantage. The best way is handle the tasks together and raise any upcoming issues and challenges that need urgent attention. On the other hand, the breach of the contract is not accepted and is punishable in a court of law. The party that breaches the agreement may face heavy fines or lose licenses to operate their business. Moreover, it is recommended that one seeks the legal advice before signing any documents on the areas that need clarification. It ensures that one signs what they understand and will be able to meet the requirements and also the terms and conditions. In addition to that, the ethical standards should be maintained at all times so as provide quality services to t he clients and for the better running of the organization. The negligence of the ethics leads to many complications in the business that would have been avoided earlier. The discussion outlines the ethical issues affecting Samarco and the challenges being faced by BHP Billiton Limited. The Samarco Company had built a dam to ensure that the waste from the mining process was deposited there. However, there was accumulation of the waste products as the mining process increased due to the demand of iron. The organization had to increase the height of the dam quickly so as to cater for the more waste without taking into consideration the repercussion of the action. The neighboring community was living in worries of the dam bursting at any time and the Samarco Company always assured them that it would not happen and they were safe. The dam was adjacent to the village where individuals resided and carried out their day to day business to earn a living. The Samarco Company continued with its process of accumulating the wastes after it had received a warning from the dam designer. It was required that they install monitoring devices to monitor the levels of the waste on a daily basis and from time to time. The management never put this issue into consideration and they cont inued with the expansion of the dam and accumulation of the tailings waste on the dam. However, the dam burst on one evening and the mud slide destroyed the village and its business and also killing people. The destruction was catastrophic and the people lost all what they had as there was no way to rescue anything (Hyldgaard, 2015). The Samarco Company did not uphold the code of ethics as required by all the engineers taking part in their activities. They should have put the safety of the people in the neighboring community as their priority. The safety measures to save the lives of the individuals living in the village should have been put in place. However, the management did not do so and neglected it and continued mining and accumulating waste on the dam. It is unethical to put the lives of the society at risk while they had also received several warnings from the dam designer (Murphy et al, 2015). The bursting of the dam would have been prevented if they followed what they were told to do other than hurriedly increasing the dam to hold the waste (Ben, 2016). On the other hand, they should have been honest and trustworthy and help the people to vacate the neighboring area. They lied to the people that the dam would never burst as everything was in control. Moreover, they should have considered the economic, environmental and the social consequences that may happen in the future. It was important so as to promote sustainability by considering all the possible outcomes and making critical decisions. The management should also have installed the rescue team or the process in case the dam busted unawares. There should have put communication equipment to raise alarm when such an issue arose. The monitoring computerized gadgets would also have been helpful to help sound alarm when a certain state occurred. The leaders of the company were only focused on generating income and making huge profits without thinking of containing the dam waste. The ethical values are highly important and should be considered by all organizations at all times for a smooth running and the safety of the public (Murphy et al, 2015). On the other situation, the BHP Billiton should follow various recommendations so as to bring beneficial changes that will improve the business activities of the company. First of all, they should assign a particular organization to handle the mining process that is responsible and committed to their work and also upholds the ethical standards. It will ensure that the any future calamities like bursting of the dam will not happen as they will be careful. It will also help save the lives of the many people and also protect the environment that is depended on by many people to survive. The ethics are highly important and the persons that follow them succeed in their day to day activities. It will help the BHP Billiton Ltd not incur losses in their business and ensure the continuity of the mining process that is safe. Secondly, the mining company should come up with safety measures to help protect the people surrounding the dam in times of unwanted calamities such as bursting (Griggs et al, 2009). There should be warning alarms and various communications installed to help communicate to the public on what is happening. On the other hand, the waste dams should be monitored using computerized systems that will help detect any unusual changes. The management of the BHP Billiton Ltd should ensure that all the safety measures have been put in place to help protect their business. Thirdly, the waste dams should be built using the right procedure and also increased in the right to handle more tailings. Moreover, there should be several waste depository dams to reduce the accumulation on one dam. The waste dam burst due to the accumulated waste that it could not handle as earlier designed to by the initial designer. The waste dams should be built in a way that the level of the waste is to be monitored to help detect any fatal issues. It will help preserve the environment and the living organisms on the surrounding area in case of any dangers (Griggs et al, 2009). Fourthly, the neighboring community where the dams will be constructed should be relocated to ensure their safety. It will reduce the damages that occur in times of the catastrophes such as bursting of the dam. The lives of the people and the protection of the environment should be given priority so as to prevent any complications in the future. Moreover, they should choose areas where it is not populated to direct the waste. The move will help the BHP Billiton Ltd generate more income and run their businesses smoothly. Lastly, the management of the BHP Billiton Ltd should appoint individuals who will monitor the mining process by the assigned company. It will help ensure that they are doing it in the right away and putting in place all the precautions necessary. There should also be good flow of communication between the mining company and the BHP Billiton Ltd. It will ensure that the arising challenges and developments are communicated. Moreover, there should be honesty on the happ enings taking place during the mining process to help make critical decisions. Through this, the BHP Billiton Ltd will enhance their business activities and progress successfully without adverse issues arising. It will also bring more benefits to the corporation as there will no expenses utilized in the compensation of the lives of people and their property due to any disasters (Amadi-Echendu, 2010). Lastly, the situation involves the BetterCar Ltd (BC) that manufactures cars for its worldwide clients. It is headquartered in Melbourne, Australia and as well as its main production plant. The organization has come up with a new car model known as T2016 and can drive itself using the self-drive mode that has been designed by the company engineers. The purchase of the car requires the signing of a contract to seal the deal. A recent buyer known as Tom bought the car and signed the agreement without reading through. He later got an accident after activating self-drive and slept. His accident has brought various issues and challenges to the company and a memorandum should be drafted outlining the BCs rights and responsibilities. First of all, the contract between the buyer and the company will only be valid when it is signed. Moreover, one should understand the terms and conditions before signing it and comply with them after signing (Radan et al, 2009). Secondly, any negligence that c auses any accident on the roads will not be compensated by the company. It is upon the individuals to take care of themselves while driving to ensure that their safety on the road. The persons are advised to drive at the required speed by the government on the roads for their safety and that of the public. Thirdly, the company will be responsible for any damages or accident caused by the fault in the car designing. The people will be compensated and it will only happen on the clear circumstances. Any facilitated accident or damage by the owner of the car so as to acquire compensation will be dealt with severely. Fourthly, the signed contract is only based on the BC Company and the buyer of the car and no any third party. The accidents that will be caused by the buyer on the road due to the negligence to follow the traffic rules will not be compensated. The driver of the car will be liable to pay for the expenses to ensure next time they are keen on the road (Peterson et al, 2012). The fifth, the breach of the contract will not be tolerated by the corporation at any time. The individuals will have to face the court of law for their misconduct that is unacceptable. All the persons involved are required to ensure that they comply with the agreement that they have signed to avoid any future complications. The management will not tolerate such issues as they will drag the business down and there will be no smooth running of the company progress. Lastly, all the buyers are entitled to free car maintenance for the first three months. It will help ease the expenses of maintaining the car and will be inclusive on the contract form (Miller et al, 2011). On the other hand, it will give an opportunity to the individuals who have purchased the car to learn on how to carryout maintenance on their own. Moreover, the organization will be responsible in the production of cars that are environment friendly and well designed to fit the customer preferences. The cars will also un dergo thorough check up after completion to ensure that all the parts are functioning as expected. It will ensure that no accidents are caused by having any fault in the car system. The corporation will also hire highly qualified engineers that will help in the designing the cars. It is important so as to ensure that the produced vehicles are up to standard and also meet all the requirements. The company will also be responsible for the mistakes done by the engineers in the designing of the cars (Carter et al, 2007). Conclusion In conclusion, it is important for the parties engaging in any contract to understand the terms and conditions before signing the documents. It is also advisable for one to seek legal advice in case they do not understand the agreement content. Moreover, the all the individuals involved should ensure a mutual benefit from the contract. References Amadi-Echendu, J. E. (2010).Definitions, concepts and scope of engineering asset management. New York: Springer. Bender, H. (2012).Reshaping environments: An interdisciplinary approach to sustainability in a complex world. Cambridge, England: Cambridge University Press Ben K,(2016) Catastrophic Failure,ABC News Carter, J. W., Peden, E., Tolhurst, G. (2007).Contract law in Australia. Chatswood, N.S.W: LexisNexis Butterworths. Griggs L, Clarke E and Iredale I (2009),Manager and the Law,3rd ed, Lawbook Co Thompson Reuters. In Hyldgaard, C. S. (2015).Engineering identities, epistemologies and values: Engineering education and practice in context. Cham : Springer In Murphy, C., In Gardoni, P., In Bashir, H., In Harris, C. E., In Masad, E. 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