Course description
Asset Management for Engineers: Optimal Life Cycle Management of Physical Assets
Asset management is the coordinated activity of an organisation to realise value from its assets. This course will help you to understand the Asset Life Cycle and cost and risk and performance implications of Asset Management decisions. This course will also enable you to identify the information and measures required for effective Asset Management and be able to contribute to Asset Management Policy, Strategy, Objectives and Plans.
The course offers an introduction to the principles of Asset Management for engineers and is aligned to PAS 55, ISO 55000 and to the Institute of Asset Management competency framework and provides a well-rounded competency development and assurance stage for those who already have practical experience, or specialist knowledge, and are now seeking a more comprehensive understanding.
Level: Professional
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Upcoming start dates
Suitability - Who should attend?
This course is suitable for those who have 2+ years of industrial or asset-intensive work experience or have successfully completed the TWPL Online Asset Management Introduction course.
Outcome / Qualification etc.
At the end of this course the learners will be able to:
- Contribute to generation and implementation of Asset Management policy, strategy, objectives and plans.
- Participate in asset-related risk identification, analysis and management processes and contingency planning.
- Understand the asset life cycle and the role of appropriate tools to optimise the performance, risk and cost of assets.
- Understand the role of performance measures needed for effective asset management.
- Understand the importance of asset information and asset information systems.
- Understand the financial implications of asset and asset management decisions for the organisation and translate technical issues into business implications.
Training Course Content
Units included in this course
- Unit 1: The Fundamentals of Asset Management
- Unit 2: Asset Management Systems, Models and Standards
- Unit 3: Creating an Asset Management Policy and Strategy
- Unit 4: Finance and Asset Management Including Business Impact
- Unit 5: Asset Management Strategy and Planning
- Unit 6: Asset Management Planning and Execution
- Unit 7: Asset Maintenance and Reliability
- Unit 8: Asset Life Cycle Decisions and Asset Creation
- Unit 9: Asset Maintenance and Reliability
- Unit 10: Asset Life Extension, Renewal, Decommissioning and Disposal
- Unit 11: Asset Management Risks Including Contingency Planning
- Unit 12: Performance Monitoring and Continual Improvement
- Unit 13: Final Assessment
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