Physical Asset Management Masterclass

Physical Asset Management Masterclass is a management course designed for Asset Managers or those preparing themselves for this position. It consists of a blend of reliability theory and practice, spares optimization, software tools and their application and best practice methodology – all with a solid practical underpinning of experience. Discussion periods and participative workshops are a key feature of the program, providing you with opportunities to apply your learning to the process of implementation in your workplace. New concepts and technologies will be introduced and explained; well-proven and successful methodologies will be tested and applied.

This course is designed for engineers, plant managers, facility managers or maintenance professionals responsible for maintaining and managing the physical assets of the plant. The participants will typically represent large facilities and plants from industries such as mining, oil and gas, pulp and paper, utilities, primary metals, heavy manufacturing and large sophisticated facilities. Participants should have an undergraduate degree or relevant work-related experience in maintenance, management or operations.

By the end of the course, you will:

• Understand the role of asset management in the “Physical Asset Excellence Cube”;
• Be able to compare the key strengths and weaknesses of RCM and TPM;
• Learn how to measure performance and use KPIs and the balanced scorecard;
• Examine which components should be part of a preventive replacement program;
• Know how to establish the economic life of an asset;
• Learn to distinguish the three sub-processes that constitute an effective CBM task;
• Explore the economics of CBM and gain a methodology to evaluate ROI in CBM, labor and material;
• Learn the fundamental principles of machinery prognostics;
• Understand the impact of demographics on maintenance;
• Explore the fundamentals of reliability;
• Discuss the role of risk in reliability;
• Learn the impact and application of finances in physical asset management; and
• Review the structure and opportunities of CMMS and how to improve CMMS value.