overview

Key Learning Objectives

• Understand the relationships between business risk, equipment performance and condition, to support effective decision making for spending allocation
• Learn how to assess the condition of equipment in order to present a status of the entire asset portfolio against the level of service or probability of failure
• Build and maintain integrated asset management plans and machine books to support effective equipment health and integrity management
• Relate failure behaviour to condition, performance and risk to support business outcomes
• Master the ability to develop and manage effective condition assessments
• Master ways to conduct criticality and risk assessment to prioritise your focus on the most crucial equipment
• Build the skills to support equipment health and integrity management based on quality data analysis
• Apply practical tools to report effectively on asset condition, health and performance
• Prepare justifiable proposals on the repair, rehabilitation and replacement of components and assets

About the Course

The role of the asset owner is to ensure that the assets and related services are available and capable to support the mission of the enterprise.

The current economic climate focused on productivity and cost cutting implies that assets will be worked harder, and that limits are to be explored in a safe and structured manner. This situation is already increasing the focus of many asset owners to re-assess their practices regarding asset health and integrity management. The consequences of not getting this right are not acceptable. In order to get a good night’s sleep, asset owners need to know that their equipment status is known and managed.

The recent release of the ISO 5500X series on Asset Management Systems has been timeous to provide additional energy in this direction with Asset Management Plans providing an effective mechanism to support asset life management.

This course is designed to bring all these elements together to demonstrate the practical applications of Asset Management Plans, equipment condition and health management, productivity, life cycle and life cycle cost management with reference to relevant case studies to reflect on these key issues.

Who Will Benefit

The course is ideally suited to enable asset owners, asset management and maintenance practitioners, machine specialists and machine book custodians, classified plant responsible persons, engineering and reliability professionals to effectively make decisions about their assets. Other parties whom will benefit from attending are:

• Asset and portfolio asset managers
• Facility managers
• Maintenance service providers