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Course Outline

INTRODUCTION TO ASSET MANAGEMENT AND ASSET LIFE CYCLE MANAGEMENT

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  • Asset Management and Business Performance
  • ISO 5500X framework for managing assets
  • Asset Management Plans as mechanism to support Asset Life Cycle Management
  • Developing and maintaining Asset Management Plans

LIFE CYCLE MANAGEMENT

  • Developing and maintaining Asset Management Plans

LIFE CYCLE DEFINITION AND APPLICATION

  • Life cycle phases and definition of asset life
  • Factors impacting on asset life
  • Failure behaviour and asset life
  • A risk based approach to focus on the right assets

NPV PROCESSING AND FINANCIAL PRINCIPLES APPLIED TO ASSET

  • Components of Life-Cycle Cost
  • Book value and depreciation policies
  • Depreciation policies

 EXERCISE

Payback, Internal Rate of Return and Net Present Value

LIFE-CYCLE COST MODELLING AND SIMULATION

  • Event base budgeting and zero base budgeting principles

  CASE STUDIES AND EXERCISES

Maintenance life cycle costs and budgeting

CONDITION ASSESSMENTS AND ASSET LIFE PROGRESSION

  • Maintenance and asset condition
  • Mechanisms to determine and assess asset condition
  • Relationship between asset condition and remaining life
  • Effective reporting on asset health and condition

OPTIMAL LIFE DETERMINATION PRINCIPLES AND MODELLING

 CASE STUDIES

  • Repair/Replacement Modelling
  • Life Span Scenario Modelling

LIFE-CYCLE MANAGEMENT SUPPORTING OPERATIONAL READINESS

  • Operational Readiness Critical Path
  • Asset Management Plan alignment to support Operational Readiness

LIFE-CYCLE FOCUS APPLIED TO AGEING ASSETS

  • Defining Ageing Asset Concerns
  • Asset Management Plan alignment to support Ageing Asset management
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