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Training course overview
Asset Management stands as a cornerstone for industries reliant on the efficient operation of their plant and equipment. Establishing effective communication across cross-functional groups such as new project, commissioning, operation, and maintenance is essential for cohesive decision-making and minimizing asset life cycle costs. This intensive Asset Management Online training course is designed to spotlight the imperative need for improved management practices by presenting standards, methodologies, and guidance for setting up robust asset management systems. It places a particular emphasis on leveraging the international standard for Asset Management, ISO55000, to implement the latest best practices.
Throughout this Coventry Academy training course, participants will engage in comprehensive discussions on the key features of asset management spanning the entire life cycle of equipment. Drawing from a diverse range of industries, the course introduces best practices and thoroughly examines the requisite skills, attitudes, and competencies for effective asset management. Participants will be introduced to the latest tools and techniques, presented in a clear and accessible manner, allowing for practical application in their respective contexts.
The training course places a significant focus on the Asset Management standard ISO55000 series. It not only introduces the standard but also reviews its sections and underscores their relevance to critical aspects of asset management discussed throughout the course. Moreover, participants will learn where to access further information about the standard and how to evaluate their organization's alignment with it.
Key features of this Coventry Academy training course include:
- Understanding the Asset Management System, Organization & Risk-based Framework specified in ISO55000 Series.
- Exploring the advantages and challenges of Life Cycle Costing.
- Deriving asset policies and strategies from the business plan.
- Formulating effective Asset Management Plans and ensuring their implementation.
- Emphasizing continuous improvement and fostering a learning organization culture.
What are the goals?
At the end of this online 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 online 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 online 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 online 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 e-Certificate of Attendance will be provided to delegates who attend and complete the course