Introduction:

In today’s competitive and asset-intensive industries, effective asset management and maintenance are critical to maximizing performance, reducing costs, minimizing downtime, and improving safety and sustainability. This training program is designed by Global Horizon Training Center to provide participants with a comprehensive understanding of best practices, strategies, and tools for managing physical assets throughout their lifecycle. It integrates modern principles of asset reliability, preventive and predictive maintenance, and lifecycle costing aligned with international standards such as ISO 55000.

This program is particularly suitable for organizations looking to elevate their asset management practices to a strategic level, ensuring long-term value and operational excellence.

Objectives:

By the end of this course, participants will be able to:

• Understand the principles and frameworks of asset management based on ISO 55000.

• Develop and implement effective asset maintenance strategies (preventive, predictive, and reliability-centered maintenance).

• Apply lifecycle costing and risk-based decision-making to asset management.

• Utilize asset performance metrics and KPIs to improve asset reliability and availability.

• Integrate asset management with organizational goals and digital transformation initiatives.

• Enhance planning, scheduling, and resource allocation for maintenance operations.

Course Methodology:

The course combines interactive lectures, real-world case studies, group discussions, and practical exercises. A blend of theory and hands-on problem-solving will ensure participants not only understand but can apply the concepts learned. Simulation scenarios and benchmarking with best practices will also be part of the training.

Organizational Impact:

Implementing the principles covered in this training will enable organizations to:

• Improve asset utilization and lifespan.

• Reduce unplanned downtime and associated costs.

• Optimize maintenance budgets and resource use.

• Ensure compliance with international standards and safety regulations.

• Strengthen decision-making based on asset data and risk analysis.

• Align asset management strategy with business performance and sustainability goals.

Target Audience:

This course is ideal for:

• Asset and Maintenance Managers

• Reliability Engineers

• Facility and Plant Managers

• Maintenance Planners and Schedulers

• Operations Managers

• Engineers involved in maintenance, asset performance, and lifecycle management

• Professionals responsible for strategic planning and investment in physical assets

Outlines:

Day 1: Introduction to Asset Management and ISO 55000 Framework

• Principles of asset management

• Strategic vs. tactical asset management

• ISO 55000 series overview

• Key components of an asset management system

• Asset lifecycle stages

• Aligning asset management with organizational objectives

Day 2: Maintenance Management Strategies

• Preventive, corrective, and predictive maintenance

• Reliability-Centered Maintenance (RCM) principles

• Condition-Based Maintenance (CBM)

• Failure Modes and Effects Analysis (FMEA)

• Maintenance optimization and prioritization

• Maintenance maturity models

Day 3: Asset Lifecycle Costing and Risk Management

• Introduction to Life Cycle Costing (LCC)

• Capital and operational expenditure planning

• Risk assessment and criticality analysis

• Balancing cost, risk, and performance

• Asset renewal and replacement planning

• Decision-making tools for asset investment

Day 4: Asset Performance and Data-Driven Maintenance

• Key Performance Indicators (KPIs) for asset management

• Mean Time Between Failures (MTBF), Mean Time To Repair (MTTR)

• Leveraging CMMS (Computerized Maintenance Management Systems)

• Role of data analytics, IoT, and digital transformation

• Condition monitoring and real-time asset tracking

• Case studies on performance improvement

Day 5: Implementation and Continuous Improvement

• Developing and implementing an asset management plan

• Stakeholder engagement and change management

• Auditing and continuous improvement in asset management

• Integrating asset management with corporate strategy

• Workshop: Drafting an action plan for your organization