Course Introduction :
This dynamic and practical course offers participants a comprehensive understanding of the principles, terminology, and methodologies associated with ISO 55000 Asset Management. Rather than focusing on theoretical or academic study, the course is designed to deliver real-world, applicable knowledge that can be directly implemented in the workplace.
Participants will be equipped with the skills and confidence to apply ISO 55000 Asset Management principles within their specific area of responsibility—regardless of whether their organization already has an established asset management system or is starting from scratch. The course focuses on enabling measurable improvements in asset performance and lifecycle management.
Featuring professionally designed, high-impact visuals and engaging learning materials, the course encourages active participation through ongoing interaction with the facilitator. Real-world case studies and hands-on exercises are integrated throughout the program to reinforce key concepts and help participants apply best practices in their organizational context.
Course Content
Introduction and overview of Asset Management (AM)
- Introduction to AM
- International Standards – ISO 55001
- Overview of good practice
- Organizational context and stakeholder needs
- Converting business plans to asset plans
- The strategic AM plan
- AM policy
- Needs and capabilities of the assets
The Asset Lifecycle
- Introducing the Asset Lifecycle
- Design and acquisition
- Commissioning and handover
- A Strategic approach to operations and maintenance
- Understanding and managing failures – Introduction to tools and techniques
- Root Cause Analysis (RCA)
- Failure Mode and Effect Analysis
- Managing ‘random’ failure
- Spares management
- Decommissioning, disposal and renewal
- Asset life cycle strategies – Alignment and optimization
- Developing and optimizing AM plans
- Constraints and shutdown optimization
Planning, risk management, and decision making
- Delivering plans
- Capital
- Operations and maintenance
- Managing resources and change
- Outsourcing and supply chain management
- Risk management
- Asset criticality
- Contingency planning
- Value and risk-informed decision making
- Asset Management decision making – Principles and approach
- Techniques for working uncertain or sparse data
- Life Cycle Costing (LCC)
- Introduction
- Evaluation of options
Asset Management enablers
- Asset information – Overview
- Asset data – Fundamentals
- Dynamic data - Condition and performance
- Collecting and using tacit information
- Information systems – Introduction and overview
- Organizational structures for AM
- Assessing and developing AM competencies
- Leadership in AM
Evaluation and continual improvement
- Successful changing organizations
- Communication and culture change
- Performance evaluation
- Developing and using performance indicators
- Continual improvement
- Governance and assurance for asset management – Auditing and management review
- Maturity beyond ISO55000