Why Choose Asset Management & Risk Mitigation Training Course?

The Course

Effective asset management needs to be a complex mix of art and science involving human and technical factors. Good communication and team work across all departments and stakeholders is vital. The glue which ensures that all asset management stakeholders’ needs are properly reconciled and addressed is risk.

This course starts by introducing the principles, framework and process for asset management. The various steps involved are then introduced together with the necessary management system. The second part of the course then shows how risk needs to feature in all aspects of asset management. Finally important risk tools and techniques are demonstrated by completing case study examples.

The highlights of this programme include:

  • Introduction to asset and risk management and their associated standards.
  • Life cycle asset policies & strategies derived from the business plan.
  • Risk assessment methodologies, quantitative, qualitative etc.
  • Formulating effective asset management plans and ensuring that they are carried out.
  • Continuous improvement and the learning organization.

 

The Structure

This comprehensive programme consists of two modules which can be booked as a 10 Day Training event, or as individual, 5 Day courses.

Module 1 - Asset Management & ISO 55000 Series: Maximising Returns from Capital Investments

Module 2 - Risk Assessment of Assets: Principles, Framework, Process, Systems, Tools & Techniques

 

The Goals

  • Demonstrate how best practices are built from asset and risk management principles and foundations
  • Illustrate the consequences of mistakes in managing assets and their risks
  • Illustrate risk management best practice drawn from a variety of different industries
  • Demonstrate the range of technical and human risks associated with asset management and how they can be mitigated
  • Illustrate a practical approach to developing an action plan to utilize these technologies and fitting them into the overall asset management strategy, and then measuring benefits

 

The Delegates

Professionals whose responsibilities include:

  • Asset Management Coordination
  • Business Planning
  • Capital Allocation
  • New Project Design
  • Operations and Maintenance
  • Risk Assessment / Analysis

 

The Process

This 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. Relevant international standards, frameworks and publications are introduced and discussed.

Detailed descriptions are given about commonly used risk tools such as Hazard & Operability Analysis, Reliability Centred Maintenance, Failure Modes & Effects Analysis, and Risk-Based Inspection.

 

The Benefits

Delegates attending will be able to show and demonstrate the benefits of this course by:

  • Develop new insights into international best practices.
  • Use risk to prioritise improvement activities.
  • Use risk to improve communication between different departments.
  • Use risk to decide the best asset intervention.
  • Practical application of important risk tools for asset management.

 

The Results

Benefits to the organisation include:

  • Fewer unexpected asset failures
  • More cost-effective asset management
  • Increased satisfaction of stakeholders
  • Reduced risk of non-compliance
  • Fewer accidents and near misses

 

The Course Content

Introduction to Asset Management & Strategy Framework

  • The business impact of asset & maintenance management
  • Asset Management process model & strategy framework
  • Asset Strategy - Asset Management Policy, Asset Management Strategy, Asset Management Plan
  • Asset Management roles
  • Differences between PAS55 & ISO 55000 series & the Assessment & certification: PAM & SAM
  • self-assessment tool

In Control of Risk

  • Identification & assessment of risk
  • Risk management: Risk Matrix, Risk Register & Hazard Log
  • Safety Management System & Contingency Planning
  • Stakeholder analysis – stakeholder risks
  • Risk based maintenance concept

Life Cycle Management

  • Life cycle of an asset
  • Creation and acquisition of assets: demand forecasting, asset portfolio evaluation
  • Procurement Aspects
  • Systems Engineering & RAMS Specification: Operational & maintenance workflow
  • Renewal, disposal and lifetime extension of assets

Asset Information Management

  • Asset information requirements: Asset data & knowledge, Asset knowledge standards
  • Using asset management information: Asset information strategy, Stakeholder acknowledgment
  • (Key) Performance Indicators
  • Specifications, selection, selection & use of asset information systems & tools
  • Asset knowledge system & procedures; data collection, storage, dissemination & maintenance

Financial & Business Impact

  • Cash flow & Budgeting
  • Life Cycle Costing principles
  • Asset Management planning: long term investment plan / long term maintenance plan (MIP/MJO)
  • Change management
  • Competency framework

An Overview of Risk Management

  • Challenging the traditional approaches to maintenance
  • Definitions of key terms & risk principles
  • Risk in Asset Management (ISO 55000 series)
  • Risk Framework (ISO 31000)
  • Case study: Importance of risk assessment & risk management (video)

Risk Management Process & methods

  • Linkage between Corporate risk  and Asset related risk
  • The steps involved in managing risk
  • Risk assessment, risk register & hazard log
  • Criticality analysis
  • Best practices: RCM, HAZOP,  FMECA & FRACAS
  • Contingency planning

Risk Management Best Practice: Maintenance Concepts with RBM (Part 1)

  • Failure behavior & probability
  • Availability & Reliability concepts
  • Maintenance concept & the seven steps of Risk Based Maintenance (RBM)
  • Failure Mode Effect & Criticality Analysis (FMECA)
  • Group Exercise

Risk Management Best Practice: Maintenance Concepts with RBM (Part 2)

  • Maintenance concept: the seven steps of RBM (continued)
  • Failure patterns
  • Determine maintenance tasks and frequencies
  • Exercise
  • Risk Based Inspection (RBI) & specific aspects for typical equipment

Optimizing Performance and Case study

  • Using decision support tools to optimize maintenance concepts
  • Case study package distribution system
  • Monitoring performance – setting up relevant performance indicators for RBM
  • Implementation aspects & pitfalls of the RBM approach
  • Implementation plan
  • Wrap-up

Certificate

  • AZTech Certificate of Completion for delegates who attend and complete the training course

Do you want to learn more about this course?

Register now or contact our team to discuss schedules, delivery formats, and customised options.

Frequently Asked Questions

Common questions about our training courses

Absolutely. AZTech offers customised in-house training where this course can be tailored to your organisation's specific needs, objectives, and industry context. Please contact us directly to discuss your requirements.

For further information or to discuss customization needs, you can contact us at +971 56 333 3426 or via email at inhouse@aztechtraining.com . Additionally, you may submit a detailed inquiry through our in-house training page at: https://aztechtraining.com/in-house-training

Yes. This Asset Management & Risk Mitigation is offered in a classroom setting across multiple international locations as well as in a live online format, giving participants the flexibility to choose the option that best suits their schedule and learning preference.

AZTech courses are conducted in carefully selected 5-star hotels or 4-star premium hotels in the host city, featuring fully equipped, professional training rooms. Participants will enjoy coffee breaks and snacks throughout the day, as well as a complimentary lunch provided after each training session.

This Asset Management & Risk Mitigation training course is designed for professionals at all levels who wish to enhance their knowledge and skills in this subject area. It is suitable for managers, team leaders, specialists, and anyone looking to advance their career and professional development.

 AZTech provides round-the-clock support to assist you with any enquiries. You can reach our team 24/7 by phone at +971 50 195 5668, by email at info@aztechtraining.com. Our dedicated training consultants are always on hand to help you with course selection, registration, scheduling, and any other questions you may have.

There are no formal prerequisites for this Asset Management & Risk Mitigation course. It is open to all professionals regardless of their background or experience level, though a basic understanding of the subject area may be beneficial.

AZTech courses are delivered using a highly interactive and practical methodology, combining presentations, group discussions, real-world case studies, exercises, and workshops to ensure participants can immediately apply what they have learned in their professional environment.

Yes. Participants who successfully complete the course will receive an AZTech Certificate of Completion. This course may also be eligible for Training credits, which will be indicated in the course details.

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