Fundamentals of Asset Management: PAS 55 and ISO 55000 Standards, Processes and Implementation Guidance
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Fundamentals of Asset Management: PAS 55 and ISO 55000 Standards, Processes and Implementation Guidance Course
Introduction:
Effective management of physical assets such as chemical plants, power distribution networks, rolling stock, offshore platforms, roads, waterways, and buildings is crucial for the economies of many countries. The way we manage these assets directly impacts the efficiency of companies and their competitiveness in the global market.
Significant investments are made annually to maintain and develop the asset base, and the provision of services to improve asset management has become a highly competitive international market. Asset management is increasingly recognized as the key to making better investment decisions across various sectors, including Oil & Gas, Defense, Aerospace, Manufacturing, Public Transport, and Electricity and Water Production & Distribution. Regulatory bodies often require these sectors to develop and present asset management plans.
The objective of this training course is to support the drive for improved management practices by providing standards, methodologies, and guidance on establishing effective asset management. The course demonstrates how international standards such as the Publicly Available Specification PAS 55 and the ISO 55000 can be utilized to implement best practices, resulting in higher performance at lower costs while ensuring compliance. The course concludes with an assessment of the current state of participants' asset management processes and outcomes.
Course Objectives:
At the end of this Fundamentals of Asset Management: PAS 55 and ISO 55000 standards, Processes and implementation guidance Course, learners will be able to do:
- To provide a step-by-step guide to Asset Management best practices (as part of PAS 55 and ISO 55000), starting with foundations and building up to best practices that will deliver maximum business benefits
- To provide an appreciation of PAS 55 and ISO 55000
- To instruct Asset Management optimization best practice methodologies and technologies
- To provide opportunities to discuss and learn the practical application of these best practices, through case studies and exercises
- To provide insight in the current state of Asset Management best practices within the delegate’s company
Who Should Attend?
The training course will benefit all professionals involved in managing or participating in asset management processes, incl. all staff in Asset Department, IT Department, Operation Department, and Finance Department.
Course Outlines:
Introduction to Asset Management & Strategy Framework
- Introduction to program
- Introduction delegates
- PRE-test
- Asset & maintenance management as a business process
- Asset management process model – The Asset Management System
- Strategy framework
- line of sight
- asset management policy, asset strategy, asset management strategy
- asset management objectives (goal setting)
- asset management plan
- feedback & improvement
Asset Management roles + standards on Asset Management (PAS 55 + ISO 55000)
- Introduction
- Asset Management roles
- Sourcing & outsourcing
- Stakeholder management
- BSI-PAS 55:2008 - a proven standard for Asset Management
- ISO 550000 – the new international standard on Asset Management
- Certification procedure
Good Asset Management Practice – Part 1
- Introduction
- Demand forecasting
- Level of service and performance measures
- Defining the right key performance indicators
- Capacity or utilization monitoring
- Condition assessment and monitoring
- Information & configuration management
- Vendor management & past performance
- Asset procurement
Good Asset Management Practice – Part 2
- Introduction
- Risk management
- Risk-Based Maintenance concepts (RBM)
- Life Cycle Costing (LCC)
Assessment & Implementation Aspects
- Introduction
- Asset Management assessment
- Asset Management teams
- Changing the behavior of people
- Implementation of Asset Management – case study
- Wrap-up