Asset Management & ISO 55000
Maximizing Returns from Capital Investments Asset Management: A to Z of Best Practices
Course Overview
Asset Management is a critical strategic discipline for capital-intensive organizations that depend on reliable, cost-effective, and sustainable operation of physical assets. Effective asset management requires structured coordination across project development, commissioning, operations, and maintenance functions to ensure integrated decision-making throughout the asset life cycle and to minimize total life cycle costs.
This advanced training course provides participants with a comprehensive and structured understanding of Asset Management principles, systems, and best practices in alignment with the ISO 55000 series. The course emphasizes governance, risk-based decision-making, strategic planning, and continuous improvement, enabling organizations to achieve value from their assets while supporting business objectives.
Course Objectives
By the end of this training course, participants will be able to:
- Apply internationally recognized Asset Management best practices in line with ISO 55000.
- Understand and evaluate organizational Asset Management maturity.
- Identify, analyze, and mitigate technical, operational, and human risks associated with asset management.
- Develop Asset Management policies, strategies, and plans aligned with corporate objectives.
- Implement structured action plans and measure performance and value realization.
- Link Asset Management decisions to financial performance and business value.
Course Audience
This course is designed for professionals involved in any aspect of Asset Management, including:
- Project, Design, and Maintenance Management
- Maintenance and Reliability Engineers
- Operations Professionals
- Technical and Quality Support Staff
- Consultants and Advisors in Asset Management and Performance Improvement
Course Methodology
The course employs internationally recognized adult learning methodologies to ensure effective knowledge transfer and retention, including:
- Structured academic lectures
- Practical case studies based on real operational environments
- Interactive workshops and exercises
- Group discussions and experience sharing
Course Outline
Day One: Principles of Asset Management
- Asset Management as a business process
- Scope and terminology of Asset Management
- Asset Management strategy and planning
- Roles and responsibilities in Asset Management
- Overview of ISO 55000 – International Standard for Asset Management
Day Two: Asset Management Risk Assessment and Control
- Risk management in Asset Management
- Business-level risk considerations
- Stakeholder-related risks
- Asset-level risks and Risk-Based Maintenance
Day Three: Asset Management Policy, Strategy, and Planning
- Asset Management Policy development
- Strategic Asset Management Plans (SAMPs)
- Implementation of Asset Management Plans
- Long-term maintenance and investment planning
- Information and configuration management
Day Four: Managing Asset Life Cycle Decisions
- Asset life cycle concepts and stages
- Systems Engineering and RAMS (Reliability, Availability, Maintainability, Safety)
- Asset renewal, disposal, and life extension decisions
- Sourcing and procurement strategies
Day Five: Financial and Business Impact of Asset Management
- Fundamentals of financial management
- Life Cycle Costing (LCC)
- Building the business case for Asset Management
- Course review and wrap-up
Certificates