Basic Principles Of Asset Management & ISO 55000 Maximising Returns From Capital Investments

Asset management is vitally important for all capital intensive industries which rely on cost effective and trouble free operation of their plant and equipment in order to deliver products and services to their customers. Every organisation carries out asset management – the key question is how well is this done? Typically asset management is inherently a cross-functional activity involving aspects such as new project design, commissioning, operation & maintenance. Getting the right dialogue taking place between these groups is necessary so that joined up thinking takes place and the life cycle costs of assets are minimised.

This course discusses in depth the key features involved in asset management throughout the life cycle of equipment. Best practices drawn from a range of different industries are introduced. In addition, the skills, attitudes and competencies necessary for effective asset management are fully discussed. The latest tools and techniques are introduced and explained with a minimum of jargon so that delegates can see how to use them in their situation. The asset management standard ISO 55000 is introduced and reviewed. The link between its sections and important aspects of asset management which have been discussed is highlighted. Where to obtain further information about the standard and how to assess one’s organisation against it are discussed. The following aspects are covered in a straightforward way:

• The asset management system, organisation and risk-based framework specified in PAS 55
• Life cycle costing advantages and issues
• Asset policies & strategies derived from the business plan
• Formulating effective asset management plans and ensuring that they are carried out
• Continuous improvement and the learning organisation

Course Objectives

At the end of this seminar, delegates will be able to make a substantial, positive impact on the asset management best practices within their organisation, specifically:

• A step-by-step guide to asset management – starting with foundations and building up to best practice.

• A solid understanding of best practice techniques for achieving effective asset       management.
• An understanding of a range of technical and human risks associated with asset management and how they can be mitigated.
• The ability to design a tailored asset management improvement plan for their organisation which tackles the major risk areas.
• A practical approach to developing an action plan to utilize these technologies in their own areas of responsibility, fitting them into the overall asset management strategy, and measuring benefits. 

 Participant Profile

It is highly recommended that professionals who are involved in any aspect of asset management should attend this course. This would include staff from:

• Project, Design & Asset Management
• Engineering
• Operations
• Reliability Engineering
• Technical Support

 Course Delivery

This 2 day workshop is designed to be a hands-on, stimulating experience. The program is highly interactive with many discussion and facilitated practice sessions. Key points will be emphasised with case study examples. There will be a combination of presentation sessions and workshops during this programme. We provide on-line notes and improvement templates for delegates.

The Benefits of Attending

What does the employee gain when attending this seminar?

• A understanding of the key aspects of asset management
• An appreciation of the link between effective asset management and competitive advantage
• Introduction to the asset management standard ISO 55000
• Exposure to asset management best practices
• The ability to engage more effectively with other colleagues involved in asset management

The Results

What does the organisation gain when it sends employees on this seminar?

• Better communication between all those involved in asset management
• More effective asset management plans
• Longer lives for equipment
• Better returns from investment in new equipment
• Improved operational performance 

Course Content

DAY 1

Introduction

• Importance
• Value creation
• What happens when it goes wrong?

Organisational Context

• Challenges
• Stakeholders & their expectations
• Examples

Leadership & Communication

• Successful leadership qualities
• Engagement
• Team working

Support

• IT
• Processes
• Tools & techniques

Planning

• Investment
• Interventions
• Work activities

DAY 2

Operations & Implementation

• Safe systems of work
• Asset care
• Quality assurance

Performance Evaluation

• Feedback systems
• Assessing condition & performance
• Predicting asset performance

Improvement

• Importance
• Mechanisms
• Learning environment

Conclusion

• Main elements of an asset management system
• Standards
• Evaluation session

 Trainer Profile

Paul Wheelhouse BSc (Hons) C.Eng. MIEE worked for ICI in a variety of senior maintenance and production roles for 20 years. A large part of this time was devoted to enhancing the performance of plant, work processes and the functioning of groups. His last post was European Operations Manager where he was responsible for both in-house manufacturing and contract manufacturing across the European Union.

For the past 10 years Paul has been engaged in Maintenance & Asset Management consulting. This has involved identifying solutions for clients to enhance their return on assets through improved equipment reliability, reduced working capital and effective use of resources. His assignments have been across a multitude of industries located around the world & regularly makes contributions to maintenance conferences and maintenance-related publications.

Paul is a Chartered Engineer, a member of the Institution of Electrical Engineers, a Council member of the Institute of Asset Management and an associate member of the Institute of Management. He is also a visiting lecturer at the University of Manchester in the UK where he lectures on maintenance for MSc and MBA programmes.

 Certification

Attendees will receive an ESS Certificate of Completion.

Course Cost: Available on request

Duration: 2 day

Date: TBC

Location: Dublin

Engineers Ireland – CPD Credits awarded:  CPD Credit = 2 days  CPD    C3

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