The Essentials of Asset Management

Course summary

Effective Asset Management systems and standards, such as PAS 55 and ISO 55000 help organisations transform their operational, safety and financial performance. However, the successful, practical implementation of such systems is often constrained by obstacles at every stage of the process.

This course offers a unique perspective on Asset Management; it provides practical lessons on a variety of approaches and ‘how to’ guidance for key stages of Asset Management implementation.  Drawing on real-world experience of best practice, it enables delegates to identify what Asset Management can actually achieve in their organisation and how to prevent the achievement of objectives becoming sidetracked by other operational priorities and initiatives. It introduces the main concepts and common approaches to the management of physical assets from the relevant published standards and draws on the experience of Asset Management strategists, trouble-shooters, auditors and operational engineers.

This integrated approach helps delegates understand what needs to be in place to ensure successful Asset Management system design, implementation, monitoring and continuous improvement.

Course itinerary

Don’t forget the fundamentals

  • Business objectives
  • The role of Asset Management
  • Linkages

When Asset Management goes wrong

  • Case studies
  • Asset lifecycle
  • Creating /acquiring new assets

Asset health, planning and maintenance decisions

  • Asset health indices
  • Evaluation of different maintenance approaches
  • Performance monitoring

Poor asset performance: what are my options?

  • Improving performance and overcoming obsolescence
  • The three R’s – replacement, refurbishment, or rationalisation
  • Asset disposal considerations
  • Concept of whole life costing

The trouble with Asset Management data is…

  • Data structures
  • Issues associated with data collection
  • What you need to make effective decisions

Effective performance measurement

  • Is your system effective?
  • Performance metrics
  • The Performance Triangle
  • The dangers of human behaviour
  • Failure investigation
  • Using trends and publicly available data

How do you know if your Asset Management System is any good?

  • Learning from real world best practice
  • PAS55 – ISO55000
  • The IAM and the PAM tool
  • Feedback and alignment mechanisms

The 'What if…?' scenario and Asset Management decision making

  • Interactive workshop – how to model the impacts of proposed investment
  • How do you react to dynamic changes?

Programme may be subject to amendment.

Why attend?

EA Technology are at the forefront of developments within Asset Management and have played an integral part in the establishment of evolving standards and specifications. This course enables you to learn from industry experts with first-hand experience of working with organisations around the world, in the development and implementation of sound Asset Management systems. It will develop your understanding of:

  • What effective Asset Management can actually achieve in your organisation
  • The importance of integrating operational and policy objectives
  • The concept of asset lifecycle and how it is affected by organisation-specific factors
  • Appropriate asset health, planning and maintenance decision making criteria
  • Options for dealing with poor asset performance
  • The critical importance of asset data structures and common pitfalls
  • Measuring the performance of Asset Management systems
  • What effective Asset Management would look like in your organisation

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