Originating in the late 1950’s in Toyota, Japan, 5S has since been adopted by many western organisations, across all sectors.

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 comprehensive two-day course provides a detailed explanation and discussion of the components of ISO 55001, provides guidance regarding how organisations can comply with each element with practical tips for implementing a robust asset management system. It is a fast-paced, action-packed practical workshop for people who are leading and participating in the development of asset management within their organisation.

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 following aspects are covered in a straightforward way:

  • The asset management system, organisation and risk-based framework specified in ISO 55000 series of standards
  • The intent behind the standards
  • The fundamentals of asset management
  • The key elements of an ISO 55001 ready asset management system
  • Understanding how an organisation can demonstrate compliance with the requirements of ISO 55001
  • The best way to implement asset management processes, practices & systems
  • The certification process and how to seek certification


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 utilise 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?

  • An 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


  • What is an asset?
  • What is asset management?
  • Key elements of an asset management system
  • Accepted good practice in asset management
  • Asset management decision making concepts
  • A short history of the discipline of asset management
  • The structure and content of the standards
  • How to use these standards for alignment, compliance or certification


  • The asset management journey
  • The role and value of a gap analysis
  • Where and how to start plus who to involve and why
  • Developing the documentation and leveraging from what already exists
  • Developing and assuring asset management competence
  • Ensuring the required leadership & work-based culture is in place
  • Additional useful tools & resources introduced through case studies
  • The ISO certification process & finding a suitable certification body
  • Introducing ISO 17021 for assessor and auditor competencies

Trainer Profile

Paul Wheelhouse BSc (Hons) C.Eng. MIET, M Inst. AM was an asset manager in the speciality chemicals industry for 18 years where he managed a range of assets all across the European Union.

For the past 22 years Paul has been engaged in 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.

Paul is a Chartered Engineer, a member of the Institution of Engineering Technology, a former Council member of the Institute of Asset Management. He is also a visiting lecturer at the University of Manchester in the UK where he lectures on strategy, organisation and auditing for an asset management and reliability engineering MSc programme.

Assessment & Certification

This course is not formally assessed, although participants undertake case studies and exercises to ensure that their new knowledge transfers into practical skills and that they have the confidence to apply them in their workplace.

This is an Engineers Ireland approved course and attendees will receive an ESS/Engineers Ireland 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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