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Asset Lifecycle & Lifecycle Cost Management

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Asset Lifecycle & Lifecycle Cost Management

Asset Lifecycle & Lifecycle Cost Management.

When questioned about their operations, too many executives believe that maintenance is the primary, if not sole, the driver behind chronic reliability problems, high capital replacement costs and the excessively high life-cycle costs of their physical plant.

They point to variances in maintenance budgets, excessive downtime and a myriad of other factors that on the surface appear to be the result of the ineffective maintenance.

But in most cases, a closer look reveals an entirely different story. Maintenance is responsible for repair and recovery following unplanned or unexpected asset-related events that occur regardless of the forcing function that caused the game. Granted some of these events are maintenance-related, but the majority are not.

How do you separate maintenance-driven from non-maintenance driven issues?

Asset life cycle cost is a real variable and can only be controlled when all of the external and internal forcing functions are minimized. It starts with a best-practice design that eliminates inherent reliability issues, followed by the vendor’s adherence to best practices, and universal adherence to business practices that enable best life-cycle cost in all of the organization’s functional groups—starting with sales/marketing and production planning/scheduling. As a holistic issue, asset reliability and the life-cycle cost is an executive level issue and must be driven at that level. The key is best practices, defined by standard work and universally enforced by executive management.

Modern process and manufacturing industries are complex and capital intensive. Today competitive global marketplace requires them to be maintained so as to maximize uptime and minimizing operational costs. This course is designed to provide pertinent information and practical insight into Best Practices concepts about Maintenance; Reliability management to improve the performance of machines and enhance their reliability.

Don’t miss this comprehensive demonstration of the best use of asset management plans & lifecycle management methodologies & techniques applied to new & aging assets; to improve optimal life, productivity, risk exposures & life-cycle.

This program is designed to advance IAM courses objectives.

You might be interested in another Asset Management programs as a next step.

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  • View Schedule
  • COURSE TYPE Practitioner
  • COURSE NUMBER
  • DURATION 2 days
  • COURSE ACCREDITED BY IAM

YOU WILL LEARN HOW TO

This course is designed to bring all these elements together to demonstrate the practical applications of asset management plans, equipment productivity, life cycle and life cycle cost management concerning relevant case studies to reflect on these critical issues and its use to new and aging assets.

Process, methodology and tool information will be provided electronically to assist participants in their efforts to manage their critical equipment.

By attending the participants’ will:

Learn how to develop and maintain effective asset management plans to take control of asset life events

Apply the most appropriate analysis and modeling methodologies to present life cycle forecasts, maintenance activity selection, and optimal life determination

Master the process of developing useful zero-based budgets, focused on reliability improvement of critical equipment

Ability to align the focus to be applied to new assets in support of operational readiness as opposed to aging assets

Realise the importance of master data to support lifecycle management and continual improvement

IMPORTANT COURSE INFORMATION

Training is recognized by the IAM – Institute of Asset Management as an approved provider of continuing education and training aligned with crucial subject areas related to asset management.

Participants who fully attend this course and complete the test on the last day will receive a Strategic Axis Professional Certificate (SAPC). SAPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.

COURSE OUTLINE

Modules:

Module 1: Introduction to asset management and asset life cycle management

Asset Management and Business Performance

ISO 5500X framework for managing assets

Asset Management Plans as a mechanism to support Asset

Module 2: Life Cycle Management

Developing and maintaining Asset Management Plans

Life cycle phases and definition of asset life

Factors impacting on asset life

Failure behavior and asset life

A risk-based approach to focus on the right assets

Module 3: NPV Processing and financial principles to asset

Components of Life-Cycle Cost

Book value and depreciation policies

Depreciation policies

Life-cycle cost modeling and simulation

Event base budgeting and zero-based budgeting principles

Case studies and exercises – Maintenance life-cycle costs and budgeting

Module 4: Condition assessments and asset life progression

Maintenance and asset condition

Mechanisms to determine and assess asset condition

The relationship between asset condition and remaining life

Effective reporting on asset health and situation

Optimal life determination principles and modeling

Case studies

Repair/Replacement Modelling

Life Span Scenario Modelling

  • In The Classroom

  • Live, Online

  • Private Team Training

  • Indiviual Private Session

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