Fundamentals of Asset Management Training
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Fundamentals of Asset Management Training Course
Introduction:
Maintaining accurate records of a company's assets is a vital undertaking that can yield cost and time savings. Asset management involves optimizing a company's assets to generate optimal returns for stakeholders, often including asset recovery.
Businesses possess various types of assets, including fixed and liquid assets. It is crucial for businesses to effectively manage their assets and leverage them to maximize returns. Presented below are the primary reasons why asset management holds significant importance:
1. Cost and time savings: Efficient asset management minimizes unnecessary expenses and reduces time wastage.
2. Stakeholder returns: By maximizing asset utilization, businesses can provide the best possible returns to stakeholders.
3. Asset recovery: Asset management often involves recovering value from underutilized or surplus assets.
4. Financial planning: Accurate asset tracking and valuation support effective financial planning and decision-making.
5. Risk mitigation: Proper asset management helps identify and mitigate risks associated with asset ownership and usage.
6. Regulatory compliance: Maintaining accurate asset records ensures compliance with relevant regulations and minimizes legal risks.
7. Operational efficiency: Effective asset management streamlines operations, reducing downtime and enhancing productivity.
8. Asset longevity: Proactive maintenance and management practices extend the lifespan of assets, reducing replacement costs.
9. Transparency and accountability: Asset management promotes transparency, accountability, and responsible resource management.
10. Competitive advantage: Efficient asset management provides a competitive edge by optimizing resource utilization and performance.
By prioritizing asset management, businesses can achieve savings, maximize stakeholder returns, mitigate risks, comply with regulations, enhance operational efficiency, and gain a competitive advantage.
Course Objectives:
By attending this Fundamentals of Asset Management Training course you will able to :
- Recognize and be able to apply asset management terminology, definitions and principles
- Identify and manage the expectations of stakeholders with respect to asset management
- Become familiar with internationally recognized asset management methodologies and good practices
- Understand best practice techniques for achieving effective asset management
- Discuss & learn the practical application of these best practices, through case studies & exercises
- Understand the range of technical & human risks associated with asset management & how they can be mitigated
- Understand the content and value of ISO 55000, the international standard on Asset Management
- Apply ‘Good Asset Management Practice’, starting with foundations and building up to best practices that will deliver maximum business benefits
- Assess the current state of Asset Management best practices
Who Should Attend?
Fundamentals of Asset Management Training course is ideal for :
- All professionals involved in managing or participating in Asset Management and Facilities Management processes, including all staff in the Asset Management & Maintenance department, Facilities Management, Building Maintenance, IT, Operations and Finance
- Anyone who wishes to update themselves on Asset Management and how to implement it for the benefit of their organizations
Course Outlines:
Principals of Asset Management
- Asset Management as a Business Process
- Asset Management Scope & Definitions
- Asset Management Conceptual Model
- Asset Management Strategy & Planning
- Asset Management Roles - about roles, expectations and responsibilities
- ISO 550000 – The International Standard on Asset Management
- Certification Procedure
Assessing & Managing Asset Management Risks
- Identification and Assessment of Risk
- Risk in Asset Management
- Significance of Risk
- Risk on Business Level
- Stakeholder Risks
- Risk on Asset Level
Asset Management Policy, Strategy and Planning
- Asset Management Policy
- Developing (Strategic) Asset Management Plan(s)
- Implementing (Strategic) Asset Management Plan(s)
- Long Term Maintenance & Investment Planning
- Information and Configuration Management
Managing Asset Lifecycle Decisions & Activities
- Life Cycle of Assets and its Aspect
- Systems Engineering
- RAMS Aspects (Reliability Availability Maintainability Safety)
- Renewal, Disposal and Lifetime Extension
- Sourcing & Outsourcing
Financial & Business Impact of Asset Management
- Financial Management – Basics
- Budgeting
- Life Cycle Costing
- The Business Case for Asset Management
- Wrap-up