Fundamentals of Asset Management

Details :

The asset management of physical assets like chemical plants, power distribution networks, rolling stock, offshore platforms, roads, waterways, buildings, etc. is critical to the economy of many countries. How we manage physical determines the efficiency of companies and how competitive we are in the world market. Much money is spent annually on maintaining and developing the asset base and providing services to improve asset management has in itself become a major competitive market internationally.

This training course aims to support the drive to improve management practices by presenting standards, methodologies and guidance, and how to set up good asset management. The course shows the delegate how the international standards on Asset Management, the Publicly Available Specification PAS 55 and the ISO 55000, can be used to implement the best practices in order to realize higher performance at lower costs within compliance. 

  • To provide a step-by-step guide to Asset Management best practices (as part of PAS 55 and ISO 55000), starting with foundations and building up to best practices that will deliver maximum business benefits
  • To provide appreciation of PAS 55 and ISO 55000
  • To instruct Asset Management optimization best practice methodologies and technologies
  • To provide opportunities to discuss and learn the practical application of these best practices, through case studies and exercises
  • To provide insight in the current state of Asset Management best practices within the delegates company

The training course will benefit all professionals involved in managing or participating in asset management processes, including all staff in Asset Department, IT Department, Operation Department and Finance Department.


Introduction to Asset Management & Strategy Framework

  • Introduction to program
  • Introduction delegates
  • Pre-test
  • Asset & maintenance management as a business process
  • Asset management process model – The Asset Management System
  • Strategy framework
    • Line of sight
    • Asset management policy, asset strategy, asset management strategy
    • Asset management objectives (goal setting)
    • Asset management plan
    • Feedback & improvement


Asset Management Roles + Standards on Asset Management (PAS 55 + ISO 55000)


•Asset Management roles

•Sourcing & Outsourcing

•Stakeholder Management

•BSI-PAS 55:2008 - a proven standard for Asset Management

•ISO 550000 – the new international standard on Asset Management

•Certification procedure                



Good Asset Management Practice – Part 1


•Demand forecasting

•Level of service and performance measures

•Defining the right key performance indicators

•Capacity or utilization monitoring

•Condition assessment and monitoring

•Information & configuration management

•Vendor management & past performance

•Asset procurement



Good Asset Management Practice – Part 2


•Risk management

•Risk Based Maintenance concepts (RBM)

•Life Cycle Costing (LCC)




Assessment & Implementation Aspects


•Asset Management assessment

•Asset Management teams

•Changing the behavior of people

•Implementation of Asset Management – case study


  • All lectures are in colorful presentation
  • All lectures are interspersed with interactive discussion
  • All lectures include group discussion, case history and exercises
  • Actual major incidents as well as industry experience are reviewed
  • Participants receive a multicolor course manual
  • Pictures of real incidents and case history are shown
  • Videos on the subject are shown

daily 09:00 – 14:00