Asset management training is valuable as significant amounts of new assets are being deployed in organisations, with pressures to extend the life of ageing equipment. This course provides intensive coverage of the principles and framework of Asset Management and how to facilitate pro-active management and control of asset life events in terms of organizational strategy.

Reliability Centered Maintenance and Root Cause Failure Analysis as critical methods to improve Asset Lifecycle Management are also covered. This course also demonstrates application of asset management plans, equipment productivity, lifecycle management with reference to relevant case studies to reflect on these key issues and its application to new and ageing assets.

By attending this course, delegates will be able to understand the following:

• The concepts, activities, principles and approaches of Asset Management (AM)
• The key Asset Management Policies and Framework and align to PAS 55 or ISO 55000 standards.
• Contribute to generation and implementation of AM policy, strategy, objectives and plans.
• Participate in asset-related risk identification, analysis and management processes and contingency planning.
• The characteristics and requirements for managing assets through asset lifecycle delivery stages – from asset acquisition, operations and maintenance to asset disposal.
• The primary Reliability Centered Maintenance Principles, Processes & Utilization of Maintenance Approaches, including Root Cause Analysis.
• Utilizing Data Driven Management through CMMS.
• Identify the information and performance measures needed for effective asset management, and evaluate the effectiveness of asset information systems.
• How to critically evaluate current AM practices.
• ISO 55000 series as mechanism to achieve these goals.

MODULE 1: FUNDAMENTAL ASSET MANAGEMENT CONCEPTS & BEST PRACTICES

• What is Asset Management ?
• What is Best Practice Asset Management?
• An overview of various Best Practice processes & tools
  • Current states of Assets
  • What level of service do stakeholders and customers demand?
  • Which assets are critical to sustained performance?
  • What are my minimum life cycle costs?
  • What is my best long-term funding strategy?
• A Whole Life Management Approach

MODULE 2: ASSET RELIABILITY

• Understanding Reliability
  • Basic concepts: Reliability, Availability, Maintainability
  • Important Definitions & Reliability Key Terms
• Why is Reliability Important
• Primary RCM principles & Utilization of Maintenance Approaches
• Reliability of Processes
  • A Machine is a Series System of Parts and Components
  • Machine Failure Rate is the Sum of Its Parts
  • Reliability Properties for Systems, Series Systems and Parallel Systems
  • Reliability of Machines in Series Process & Long Series Processes
  • Improving the Reliability of Machines & Financial Benefits
  • Modelling Machine Reliability
  • Machine Reliability Block Diagram
  • Best Practice Reliability Engineering Application
  • Quality Function Deployment – The Voice of the ‘Customer’
  • Reliability calculations: MTBF; MTTR; OEE; MA.

MODULE 3: THE ASSET LIFE CYCLE

• What is the Asset Life Cycle?
• The Batchtub Curve
• Estimated Useful Life
• Ageing management programme
• Depreciation
• What is a replacement Cycle
• Understand the Key Stages of the Asset Life Cycle
  • Planning: establish and verify asset requirements
  • Acquisition: Sourcing Process
  • Operation & Maintenance
  • Disposal
  • Replacement

MODULE 4: THE ASSET MANAGEMENT PLAN (AMP)

• Linking asset management to organisational business planning
• What is an Asset Management Plan?
• Asset Management Strategy & Policy
• Types of Maintenance Strategies to Consider:
  • Run to failure or Scheduled Repair/Replacement
  • Consider Maintenance outsource-strategy
  • Developing Asset Management Plans
  • Asset Definition and Selection
  • Gathering data for AMP
  • Sections of the Final Asset Management Plan

MODULE 5: IDENTIFY AND DEVELOP KEY PERFORMANCE INDICATORS

• Developing and implementing Key Performance Indicators & Metrics to support the strategic goals
• Risk Analysis and Risk Rating
• Causes of Failures
• Failure Probability levels & Severity
• Similarity between Safety Incidents and Equipment Failures
• Prediction Modeling Methods
  • Fault Tree Analysis
  • MTBF, MTTR, MTTF
  • FARDRC
  • Visualizing OEE & the Six Big Losses
  • Pareto Analysis – 80/20 Principle
  • Applying 5S
  • The Bathtub Distribution
• FMEA
  • Types and Usage of FMEAs
  • Risk Based Inspection (RBI) Using FMEA
  • FMEA Calculations
  • Workplace Failure and Defect Elimination

MODULE 6: INCIDENT INVESTIGATIONS & ROOT CAUSE ANALYSIS (RCA)

• Introduction: What is Root cause analysis?
• RCA Methods
• The 8-Discipline (8-D) model
• The 5 Whys Analysis
• Cause-and-Effects Analysis (or Fishbone Diagram)
• Overall Equipment Effectiveness

MODULE 7: MAINTENANCE OF ASSETS

• Fourth Generation Maintenance
• Benefits of maintenance-based physical asset management
• How maintenance can help improve the various lifecycle phases
• Maintenance Strategies: Lifecycle Approach & Value Creation
• 5 Steps of Maintenance Work (Task) Management
• Overall Equipment Effectiveness to measure manufacturing efficiency
• The Computerized Maintenance Management System (CMMS)

MODULE 8: SPARE PARTS INVENTORY CONTROL

• Introduction to Spare Parts Inventory Control
• Supply chain components
• Special Features of Spares
• The Concept of Maintenance Spare Parts
• Concept of economic life
• Inventory Control Module
• Spare Parts Inventory Control & Optimization
• Methodology and analysis techniques
• Critical spares – delivery lead time requirements

MODULE 9: PEOPLE MANAGEMENT

• The ‘Human Element’ in Asset Management: physiological, psychological, anthropometric
• Management of Change
• Challenges of Change Management
• Reasons for resistance
• Six Actions to Create More Engagement

This workshop runs for 3 days

Our Asset Management: A Reliability Centered Approach is available in a variety of formats to best match your needs

In-House training: We bring the training to your location. Available with customized features created to meet your requirements.

Virtual Training: Delivered totally online, our virtual sessions are designed to keep participants engaged through relevant training, activities for practice, and ongoing reinforcement.

Available on request.

This course is designed for any professional who wants to study and perform asset reliability at a higher level Delegates that will highly benefit from this course include:

• Reliability managers and Engineers
• Plant and Manufacturing managers
• Asset Managers, Facility Managers
• Storeroom managers, technicians
• Continuous Improvement managers
• Maintenance Artisans, Supervisors, Planners & Managers
• Logistics Supervisors & Managers
• Project managers and supervisors
• Risk Management Professionals
• Financial Managers
• Quality assurance and control professionals
• Operations & maintenance personnel
• Health, safety, and environmental professionals