Introduction

The management of physical assets is critical to the economy of many countries. How we manage assets determines the efficiency of companies and how competitive we are in the world market. Much money is spent annually on maintaining and developing the asset base and providing services to improve Asset Management has in itself become a major competitive market internationally.

Asset Management has been increasingly recognized as the key to improved investment decision making across all sectors, from Electricity and Water Production & Distribution, Oil & Gas, Defence, Aerospace, Manufacturing and Public Transport. Regulators require to develop and present strategic Asset Management Plans aligned with the corporate strategy. The implementation of ‘good Asset Management practice’ will contribute in realizing the corporate strategy and it becomes more and more important to prove this by showing results.

The leading international Institute of Asset Management (IAM, www.theiam.org) has published a series of (general) Qualifications that indicate what you should know about Asset Management. This knowledge is tested by means of a formal public exam of the IAM, which is regularly organized worldwide in many places. If you successfully complete the exam individually, you will receive the internationally recognized 'IAM Certificate in Asset Management'.

Good to know is that this training course ‘Electricity Asset Management; Evaluation, monitoring and Maintenance’ covers these IAM Qualifications in full and prepares you for the exam. In addition, we have added to the course many practical examples and case studies, so that this course deals with the theory from a very practical approach, with a focus on the Electricity sector. That is why this training is also great for participants who want to brush up their knowledge of Electricity Asset Management only and do not want to take exam yet.

 Note, that this course contains all relevant IAM endorsed training material for the IAM Certificate course, as well as extra training material specifically focused on the Electricity sector and more.

 Delegates who would like to do examination for the ‘IAM Certificate in Asset Management’ should go to the website of the IAM and buy a voucher to attend an individual examination.

This seminar will highlight:

  • The basic principles of Asset Management fully aligned with the IAM Qualifications
  • ISO 55000 series, the International standard on Asset Management
  • The implementation of ‘good Asset Management practice’, specifically focused on the Electricity sector
  • How to realize higher performance at lower cost within compliance
  • Assessing the current state of your Asset Management process and determine the gaps

Objectives

At the end of this seminar, you are able to:

  • Explain what Asset Management is and how it can contribute to the realization of the corporate strategy of your organization
  • Understand the content and value of ISO 55000, the international standard on Asset Management
  • Apply ‘good Asset Management practice’, starting with foundations and building up to best practices that will deliver maximum business benefits
  • Assess the current state of Asset Management best practices, specifically those from the electricity sector

Training Methodology

The course is composed in such a way that it can be held for all professionals involved in managing or implementing Asset Management processes. There will be a variance of lectures and practical cases and exercises, specifically from the electricity sector. Apart from that, experiences from different areas will be discussed to ensure that delegates will get the whole picture. There will be many opportunities for discussion and sharing experiences.

Organisational Impact

The organization will:

  • Understand how Asset Management can contribute to realization of the corporate strategy
  • Understand the background, application and benefits of ISO 55000
  • Understand the most important key performance areas and related activities and methodologies of Asset Management, more specifically for the electricity sector
  • Be able to implement the basic Asset Management methodologies and technologies
  • Understand how to assess the current status of the Asset Management processes

Personal Impact

By attending the participants will:

  • Gain understanding and practical insight of ‘good Asset Management practice’
  • Improve their level of personal knowledge
  • Work more effectively by focusing on the processes and activities that really contribute to the corporate goals of the organization
  • Add value for themselves
  • Be able to plan and develop a future career

Who Should Attend?

This course is suitable to a wide range of professionals, but will greatly benefit:

  • All professionals involved in managing or participating in Asset Management and Facilities Management processes, incl. all staff in the Asset Management & Maintenance department, Facilities Management, Building Maintenance, IT, Operations and Finance
  • Anyone who wishes to update themselves on Asset Management and how to implement it for the benefit of the organization

The Course Outline

Day One

Principles of Asset Management

  • Asset Management as a business process
  • Asset Management scope & definitions
  • Asset Management conceptual model
  • Asset Management strategy & planning
  • Asset Management roles - about roles, expectations and responsibilities

Day Two

Asset Management Policy, Strategy and Planning

  • Asset Management Policy
  • Developing (Strategic) Asset Management Plan(s)
  • Implementing (Strategic) Asset Management Plan(s)
  • Information and configuration management
  • IT-tooling

Day Three

Managing Asset Lifecycle decisions & activities

  • Life cycle of assets and its aspects
  • Systems Engineering & RAMS (Reliability Availability Maintainability Safety) - introduction
  • Renewal, disposal and lifetime extension
  • Life Cycle Costing (LCC) – Total Cost of Ownership (TCoO)
  • Sourcing & outsourcing of maintenance

Day Four

Assessing & managing Asset Management risks

  • Identification and assessment of risk
  • Risk in Asset Management
  • Significance of risk
  • Risk on business level
  • Stakeholder risks
  • Risk on asset level – Risk Based Maintenance (RBM) – introduction
  • Risk matrix

Day Five

RAMS & Maintenance / Reliability Engineering (part 1)

  • RAMS requirements & parameters - overview
  • RAMS analysis in the design phase:
    • Fault Tree Analysis (FTA)
    • Failure Mode Effect & Criticality Analysis (FMECA)
    • Reliability Block Diagram (RBD)
  • Reliability of the data used

Day Six

RAMS & Maintenance / Reliability Engineering (part 2)

  • RAMS analysis in the operations & maintenance phase:
    • Root Cause Analysis (RCA)
    • Maintenance Reference Plan (Maintenance Concept)
    • Spare Parts Analysis
  • Practical case studies

Day Seven

Planning & Scheduling, Monitoring and Evaluation of Maintenance

  • The maintenance workflow and how it relates to the preventive maintenance strategy
  • Roles & responsibilities in work preparation, planning and scheduling, maintenance execution
  • Principles of work preparation, planning and scheduling of maintenance
  • Defining performance
  • Applying specific performance indicators and process parameters to measure the performance of assets, activities and processes, leading & lagging indicators
  • Reporting & continuous improvement

 Day Eight

Financial & Business impact of Asset Management

  • Financial Management – basics
  • Budgeting
  • Decision making in Asset Management
  • Long-term financial planning
  • Funding

 Day Nine

ISO 55000, Gap Analysis, Certification and the Business Case for Asset Management

  • The Asset Management puzzle – summarization of what we learned so far
  • ISO 550000 – the international standard on Asset Management
  • ISO 55000 Gap analysis – how to measure objectively the Asset Management maturity
  • Implementation aspects
  • ISO 55000 Certification procedure
  • The business case for Asset Management

Day Ten

Executing a concise ISO 55000 Gap Analysis

  • Execution of a concise ISO 55000 gap analysis of the Asset Management maturity of the organisation
  • Development of improvement actions
  • Development of concise improvement plan (roadmap)
  • Wrap-up

The Certification

Certificate of Completion will be provided to delegates who attend and complete the course

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