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Executive Awareness of Asset Management and ISO 55001

Course Duration: Four Hours

Course Summary:

Provides Senior Managers with an appreciation of the business/operational context of asset management, the role of asset management to support business needs and achievement of operational needs and deliver “value for money” and the business’ Asset Management Objectives.


    • Gain an awareness of the Fundamentals of Asset Management
    • Gain an awareness of the 13 Key Asset Management essentials that can reduce Whole of Life Costs


    • Link maintenance/operations and asset investment programmes (and tasks) to business needs
    • Develop a supporting Leadership and workplace culture
    • Organisational roles and responsibilities and authority
    • Identify Strategies for Contracting Out


    • Identify Maintenance Requirements Determination process:
      • Develop a Failure Mode, Effects and Criticality Analysis (FMECA) analytical process
      • Develop a Level of Repair Analysis (LORA) analytical process
      • Develop a Reliability-centered Maintenance (RCM) analytical process
      • Develop a TA analytical process
      • Develop an asset Repair/Replace decision process
    • Identify Technology (software and hardware) changes
    • Identify Asset Obsolescence issues
    • Identify asset investment requirements
    • Identify Data and information needs
    • Materials management (logistics) requirements

    Scheduling and Execution

    • Operational planning and control

    Continual Improvement

    • FRACAS tool/process to support Continual Improvement
    • Asset Management Maturity Improvement Plan

Target Audience:

Senior workplace business, technical and financial decision makers

Course Content:

  • A very high-level awareness of the following important AM topics:
    • Relevant References
    • Why do we need to discuss Asset Management?
    • What are Assets?
    • What is Asset Management?
    • The Principles of Asset Management
    • The Asset Management Concept Model
    • The Role and Value of Asset Management
    • Role and Worth of Asset Management – from a Commercial perspective
    • Managing Assets versus Asset Management
    • The Asset Management System
    • Asset Management Processes
    • The Capability Delivery Model
    • The Key Disciplines of Asset Management
    • How to put it all together?
    • Leadership and Culture
    • The value of an Asset Management Culture
    • Cost Management
    • Costs over the Life Cycle
    • Introduction to ISO 55000 Asset Management
    • Artefacts of the Asset Management System
    • Asset Management Policy
    • Strategic Asset Management Plan
    • Asset Management Plans
    • What does ISO 55001 not do?
    • Toward a Defensible Maintenance Budget
    • Applied Risk Management

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