A highly interactive training course on

Asset Management & ISO 55000 Series

Maximising Returns from Capital Investments
Coventry Academy -  Asset Management & ISO 55000 Series

Course Schedules

 Al Ain
 20-24 May 2024
 24-28 Jun 2024
 Al Ain
 29 Jul-02 Aug 2024
 30 Sep-04 Oct 2024
 25-29 Nov 2024

Training course overview

Asset Management is vitally important for all capital-intensive industries which rely on cost effective and trouble-free operation of their plant and equipment. Getting the right dialogue taking place between cross functional groups such as new project, commissioning, operation & maintenance is necessary so that joined up thinking takes place and the life cycle costs of assets are minimized. This intensive Asset Management training course will help to give focus on the drive to improve management practices by presenting standards, methodologies and guidance how to set up good asset management. This training course will feature how the international standard on Asset Management, ISO55000, can be used to implement the best and latest practices.

This Coventry Academy training course discusses in depth the key features involved in asset management throughout the life cycle of equipment. Best practices drawn from a range of different industries are introduced. In addition, the skills, attitudes and competencies necessary for effective asset management are fully discussed. The latest tools and techniques are introduced and explained with a minimum of jargon so that delegates can see how to use them in their situation. The Asset Management standard ISO55000 series is introduced and reviewed. The link between its sections and important aspects of asset management which have been discussed is highlighted. Where to obtain further information about the standard and how to assess one’s organization against it are discussed.

This Coventry Academy training course will feature:

  • The Asset Management System, Organization & Risk-based Framework specified in ISO55000 Series
  • Life Cycle Costing Advantages and Issues
  • Asset Policies & Strategies Derived from the Business Plan
  • Formulating Effective Asset Management Plans and Ensuring that they are Carried Out
  • Continuous Improvement and the Learning Organization

What are the goals?

At the end of this training course, delegates will be able to make a substantial, positive impact on the Asset Management Best Practices within their organization, specifically:

  • Provide a Step-by-step Guide to Asset Management Best Practices (as part of ISO55000)
  • 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

Who is this training course for?

This training course is suitable to a wide range of professionals but will greatly benefit professionals in different branches who are involved in any aspect of asset management. The training is specifically designed for those professionals who want to understand, implement and improve the latest Asset Management concepts, processes and possibilities:

  • Project, Design & Maintenance Management
  • Maintenance & Reliability Engineering
  • Operations
  • Technical & Quality Support
  • Consulting

How will this training course be presented?

This training course will utilize a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. It is composed in such a way that it can be held for all professionals involved in managing or implementing asset management processes. It is conducted along course principles with formal lectures and many interactive exercises. Relevant case studies illustrate the application of each subject in an operations environment and each learning point will be re-enforced with practical exercises. There will be many opportunities for discussion and sharing experiences.

Course Outline

Day One: Principals of Asset Management
  • Asset Management as a Business Process
  • Asset Management Scope & Definitions
  • Asset Management Strategy & Planning
  • Asset Management Roles
  • ISO550000 – The International Standard on Asset Management
Day Two: Assessing & Managing Asset Management Risks
  • Risk in Asset Management
  • Risk on Business Level
  • Stakeholder Risks
  • Risk on Asset Level – Risk Based Maintenance
Day Three: 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 Four: Managing Asset Lifecycle Decisions & Activities
  • Life Cycle of Assets and Its Aspects
  • Systems Engineering & RAMS (Reliability Availability Maintainability Safety)
  • Renewal, Disposal and Lifetime Extension Decisions
  • Sourcing
Day Five: Financial & Business Impact of Asset Management
  • Financial Management – Basics
  • Life Cycle Costing
  • The Business Case for Asset Management
  • Wrap-up

The certificate

  • Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course

Coventry Academy
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