Maintenance & Reliability Best Practices
Lowering Life Cycle Cost of Equipment
Course Overview
Declining commodity prices and constrained operating revenues have intensified the focus on equipment life-cycle costs, placing unprecedented pressure on maintenance and engineering functions. Organizations are now required to sustain high levels of safety, reliability, and availability while operating within increasingly limited budgets.
This advanced Maintenance Engineering training course provides a structured and practical framework for reducing asset life-cycle costs through the application of internationally recognized maintenance and reliability best practices. The course equips participants with proven tools, methodologies, and analytical techniques to proactively manage asset performance, eliminate defects, and improve cost efficiency throughout the asset life cycle.
The program emphasizes the integration of financial awareness, reliability engineering, failure analysis, and work management, ensuring that maintenance strategies are aligned with business objectives and deliver measurable value.
This training course highlights:
- Financial principles related to costs, capital, profit, and return on investment (ROI)
- The Asset Healthcare Model and its application to physical assets
- Cost impacts of equipment failure and performance degradation
- Proactive maintenance practices to reduce long-term costs
- Failure analysis techniques to prioritize cost reduction efforts
- Work management practices to improve resource utilization and efficiency
Course Objectives
By the end of this course, participants will be able to:
- Understand financial concepts related to maintenance decision-making, including cost, capital, profit, and ROI
- Quantify the financial impact of unplanned and unanticipated equipment failures
- Apply proactive maintenance policies to reduce future maintenance expenditure
- Structure, analyze, and interpret failure data to prevent repetitive failures
- Identify root causes of failure-related costs and eliminate underlying defects
- Reduce labor, material, and downtime costs through effective work management
Course Audience
This course is delivered using a blended learning approach, combining:
- Instructor-led lectures
- Facilitated class discussions
- Practical examples and applied exercises
Course Methodology
This training course is highly recommended for professionals involved in maintenance, reliability, engineering, and technical support functions, including:
- Maintenance Planners
- Supervisors and Engineers
- Reliability Engineers
- Maintenance Team Leaders and Managers
- Operations Team Leaders and Managers
Course Outline
Day 1: Introduction to Equipment Life-Cycle Costs
- Reliability, Maintenance, and Asset Management: Definitions and Relationships
- Concepts of Cost, Capital, Profit, and Return on Investment
- Equipment Life-Cycle Cost Fundamentals
- The Asset Healthcare Model
- Key Areas of Asset Management
- Open Discussion Sessions
Day 2: Cost Drivers and Failure Mechanisms
- The True Cost of Unanticipated Equipment Failure
- Asset Performance Standards
- Forms of Asset Failure and Degradation
- Causes and Characteristics of Asset Failure
- Effects, Risks, and Financial Impact of Degradation
Day 3: Breaking the Cycle of Degradation and Cost Escalation
- Programmed Maintenance Concepts
- Maintenance Interval Selection
- Condition-Based Maintenance Strategies
- Implementing Optimized Preventive Maintenance Programs
- Optimizing Spare Parts to Support Maintenance Strategies
Day 4: Cost Reduction through Defect Elimination
- Failure Data Collection and Analysis
- Chronic vs. Intermittent Failures
- Pareto Analysis for Focused Improvement
- Quantifying Losses in Life-Cycle Cost Terms
- Root Cause Analysis Methodologies
- Software Tools and Templates Supporting Analysis
Day 5: Converting Strategy into Practice through Work Management
- Work Identification and Defect Reporting
- Backlog Management and Its Importance
- Planning for Quality and Reliability
- Capacity Planning and Resource Optimization
- Scheduling for Operational Efficiency
- Work Preparation, Logistics, and Quality Control
- Final Discussion and Course Evaluation
Certificates