Asset Management Fundamentals
December 7, 2020 | Online :: Central Time
“This course provided an excellent high-level overview of asset management. There were good references for those working to dig further into areas of interest.” – Plant Programming Coordinator, Ontario Power Generation
If this event is of interest you may also be interested in these related events
Transmission & Distribution Asset Analytics, December 8, 2020
Substation Asset Management Fundamentals, December 9, 2020
The goal of this one-day training course is to provide a foundation level of understanding of basic asset management principles, concepts, and techniques. The course is based on the Institute of Asset Management Foundation Award training, which is aimed at anyone requiring basic knowledge of asset management to support their organization’s activities, including individuals who are:
- New to asset management roles or beginning an asset management career
- In roles that support or interact with an organization’s asset management activities
- Providing asset management services or supporting the delivery of these services
For organizations that are undertaking an asset management journey, it is critical for all stakeholders to have a shared understanding of the scope, goals, and work products associated with asset management. Also, one of the requirements for ISO 55000 certification is for all stakeholders across all levels of the organization to have a common understanding of asset management. This course will enable this understanding and provide evidence needed for a certification audit.
- Identify basic asset management concepts, principles, and terminology
- Assess the breadth of asset management activities
- Define some common characteristics of good asset management
- Evaluate the various commonly used techniques for asset management
- Judge the types of benefits organizations can realize from asset management programs
- Analyze the potential next steps for organizations who wish to engage in an asset management program
EUCI has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET). In obtaining this accreditation, EUCI has demonstrated that it complies with the ANSI/IACET Standard which is recognized internationally as a standard of good practice. As a result of their Authorized Provider status, EUCI is authorized to offer IACET CEUs for its programs that qualify under the ANSI/IACET Standard.
EUCI is authorized by IACET to offer 0.7 CEUs for this event.
Requirements for Successful Completion of Program
Participants must sign in/out each day and be in attendance for the entirety of the course to be eligible for continuing education credit.
Case studies and PowerPoint presentations will be used in this course
Monday, December 7, 2020 Central Time
9:00 – 9:15 am :: Login
9:15 a.m. – 5:00 p.m. :: Course Timing
12:15 – 1:00 p.m. :: Lunch Break
Basic Asset Management Concepts, Principles and Terminology
- Origins and History of Asset Management (PAS 55, ISO 55000)
- Drivers and Components of Asset Management
- Fundamental Concepts: Value, Alignment, Leadership, Assurance
The Breadth of Asset Management Activities
- Asset Management Versus Asset Management System
- The IAM “Six Box” Model
- Organizational Objectives and Context
- Asset Management Policy and Strategy
- Asset Management Plans
Common Characteristics of Good Asset Management
- Dimensions: Holistic, Systematic, Systemic, Risk-based, Optimal, Sustainable, Integrated
- Business Value Orientation
- Line-of-Sight Alignment
- Life Cycle Value Realization
- Risk-Based Orientation
Some Commonly Used Techniques
- Stakeholder Analysis
- Technical Versus Economic Asset Life
- Whole Life Cost Analysis
- Life Cycle Decision-Making
- End-Of-Life Decision-Making – Expected Useful Life Analysis
- Condition Assessment – Asset Health Indices
- Risk Analysis
- Investment Optimization
- Asset Performance Management
The Types of Benefits Organizations Can Realize
- Finding the Right Balance Between Cost, Risk and Performance
- Improved Capital Efficiency
- Optimized Maintenance Spending
- Better Collaboration Between Key Roles Across Asset Life Cycles
Potential Next Steps for Organizations Who Wish to Continue With Their Asset Management Journey
- Organizational Models
- Change Management
- Enabling Technology and Data
- Maturity Level Assessments
- Competency Development
- Transformation Roadmaps
Tom Myers, Principal Asset Management Consultant, HDR
Tom Myers is a Fellow of the Institute of Asset Management (IAM) and a member of the IAM USA Executive Board. He is an IAM Endorsed Trainer and Endorsed Assessor with over 20 years of asset management consulting experience. Tom has over 35 years of experience as a management consultant with top-tier firms in the industry and has worked on more than 80 projects at over 50 companies in 10 countries. His educational background and extensive worldwide experience have provided him with a unique understanding of the technical, operational, and financial challenges related to asset management. Tom is a frequent speaker on asset management issues and recognized thought leader in the industry.
We will be using Microsoft Teams to facilitate your participation in the upcoming event. You do not need to have an existing Teams account in order to participate in the broadcast – the course will play in your browser and you will have the option of using a microphone to speak with the room and ask questions, or type any questions in via the chat window and our on-site representative will relay your question to the instructor.
- You will receive a meeting invitation will include a link to join the meeting.
- Separate meeting invitations will be sent for the morning and afternoon sessions of the course.
- You will need to join the appropriate meeting at the appropriate time.
- If you are using a microphone, please ensure that it is muted until such time as you need to ask a question.
- The remote meeting connection will be open approximately 30 minutes before the start of the course. We encourage you to connect as early as possible in case you experience any unforeseen problems.
Please Note: This event is being conducted entirely online. All attendees will connect and attend from their computer, one connection per purchase. For details please see our FAQ
If you are unable to attend at the scheduled date and time, we make recordings available to all registrants for three business days after the event