Advanced Asset Management

Introduction

The management of physical assets is critical to the economy of many countries. How we manage assets determines the efficiency of companies and how competitive we are in the world market. Much money is spent annually on maintaining and developing the asset base and providing services to improve Asset Management has in it become a major competitive market internationally. Asset Management has been increasingly recognized as the key to improved investment decision making across all sectors, from Oil & Gas, Defence, Aerospace, Manufacturing, Public Transport, and Electricity and Water Production & Distribution. Regulators require developing and present strategic Asset Management Plans aligned with the corporate strategy. The implementation of ‘Good Asset Management Practice’ will contribute to realizing the corporate strategy and it becomes more and more important to prove this by showing results.

This training course will highlight:

• The basic principles of Asset Management fully aligned with the IAM Qualifications
• ISO 55000, The International Standard on Asset Management
• The implementation of “Good Asset Management Practice”
• How to realize higher performance at a lower cost within compliance
• Assessing the current state of your Asset Management process and determine the gaps

Objectives

At the end of this course, delegates will be able to make a substantial, positive impact on the asset management best practices within their organization, specifically:

• Explain what Asset Management is and how it can contribute to the realization of the corporate strategy of your organization
• Understand the content and value of ISO 55000, the international standard on Asset Management
• Apply ‘Good Asset Management Practice’, starting with foundations and building up to best practices that will deliver maximum business benefits
• Assess the current state of Asset Management best practices
• Provide a step-by-step guide to Asset Management best practices (as part of PAS 55 & ISO 55000)
• Understand best practice techniques for achieving effective asset management
• Discuss & learn the practical application of these best practices, through case studies & exercises
• Understand the range of technical & human risks associated with asset management & how they can be mitigated
• Develop an action plan to utilize these technologies in their own areas of responsibility, fitting them into the overall asset management strategy, and measuring benefits

Training Methodology

This is an interactive course. There will be open question and answer sessions, regular group exercises and activities, videos, case studies, and presentations on best practices. Participants will have the opportunity to share with the facilitator and other participants on what works well and not so well for them, as well as work on issues from their own organizations. The online course is conducted online using MS-Teams/ClickMeeting.

Who Should Attend?

This training course is suitable for a wide range of professionals, but will greatly benefit:

• All professionals involved in managing or participating in Asset Management and Facilities Management processes, including all staff in the Asset Management & Maintenance department, Facilities Management, Building Maintenance, IT, Operations and Finance
• Anyone who wishes to update themselves on Asset Management and how to implement it for the benefit of their organizations

Course Outline

DAY 1: Principals of Asset Management

• Asset Management as a Business Process
• Asset Management Scope & Definitions
• Asset Management Conceptual Model
• Asset Management Strategy & Planning
• Asset Management Roles - about roles, expectations, and responsibilities
• ISO 550000 – The International Standard on Asset Management
• Certification Procedure

DAY 2: Assessing & Managing Asset Management Risks

• Identification and Assessment of Risk
• Risk in Asset Management
• Significance of Risk
• Risk on Business Level
• Stakeholder Risks
• Risk on Asset Level

DAY 3: Asset Management Policy, Strategy, and Planning

• Asset Management Policy
• Developing (Strategic) Asset Management Plan(s)
• Implementing (Strategic) Asset Management Plan(s)
• Long Term Maintenance & Investment Planning
• Information and Configuration Management

DAY 4: Managing Asset Lifecycle Decisions & Activities

• Life Cycle of Assets and its Aspect
• Systems Engineering
• RAMS Aspects (Reliability Availability Maintainability Safety)
• Renewal, Disposal, and Lifetime Extension
• Sourcing & Outsourcing

DAY 5: Financial & Business Impact of Asset Management

• Financial Management – Basics
• Budgeting
• Life Cycle Costing
• The Business Case for Asset Management