The Asset Management Landscape

Remain abreast of the latest trends with a holistic view of asset management. This course provides an overview of the discipline of asset management and a framework for understanding the various subjects covered in the GFMAM’s Asset Management Landscape.

The course is based on internationally recognised documents and standards. These include the GFMAM’s Asset Management Landscape and its 39 Subjects, the newly released ISO 55000 standard for an asset management system, the IAM’s latest version of Asset Management – An Anatomy as well as the previously released PAS 55 specification.

 It also considers the competency requirements as defined by the Australian Asset Management Council, which has already been accepted by a number of GFMAM members as the basis of their endorsed asset management qualifications.

It is essential for anyone responsible for the management and maintenance of physical assets, such as infrastructure and plant, who aims to succeed in today’s highly demanding environment.

Course Outline And Expected Outcomes:

• Overview of asset management
  • An overview of asset management as well as in introduction to the following: terms and concepts being used in the training, the current international standards and frameworks available, the potential benefits of good asset management.
• Resource management
  • Managing the resources required for all AM activities over the full life cycle of all assets. It addresses MRO items as well as human resources, with the associated decisions on whether to provide these resources internally or externally. GFMAM subjects covered: resourcing strategy, resource management, procurement and supply chain management.
• Asset management strategy and planning
  • The process to develop the long term policy, objectives, strategy and plans to implement asset management in the organisation. The output are plans to implement AM and manage the portfolio of asset over their life cycles. GFMAM subjects covered: AM policy, AM strategy and objectives, demand analysis, strategic planning, AM planning, stakeholder engagement.
• Organisation and people
  • The management of people to deliver and achieve the AM plans effectively. GFMAM subjects covered: AM leadership, organisational structure, organisational culture, competence management.
• Asset life cycle management
  • The main activities to make decisions about new capital investments, the process to acquire or create an asset as well as the decommissioning and disposal of an asset at the end of its life are addressed. A key concept during this process is the asset’s life cycle cost. GFMAM subjects covered: capital investment decision-making, life cycle value realisation, asset creation and acquisition, systems engineering, asset decommissioning and disposal, asset costing and valuation.
• Asset information
  • The management of the information, documentation and knowledge required for effective asset management. GFMAM subjects covered: technical standards and legislation, configuration management, asset information strategy, asset information standards, asset information systems, data and information management.
• Reliability and maintenance optimisation
  • The process to develop optimal maintenance plans for the assets. This includes decisions about the best tactic to use and the optimal frequencies for these activities. These decisions should be based on detailed reliability engineering processes. GFMAM subjects covered: operations and maintenance decision-making, reliability engineering.
• Risk management
  • This module covers risk management as described in ISO 31000. It is a recurring theme in the AM Landscape, ISO 55000 and PAS 55. Risk management essentially entails the process of risk identification, analysis and treatment within a corporate risk framework. GFMAM subjects covered: fault and incident response, risk and risk management, contingency planning and resilience analysis, sustainable development, management of change.
• Maintenance and operations
  • The activities during the operate and maintain phases in the asset life cycle are unpacked. This includes activities to operate assets correctly, maintenance planning and scheduling and managing shutdowns and outages effectively. GFMAM subjects covered: shutdown and outage strategy, maintenance delivery, asset operation, shutdown and outage management.
• Monitoring, review and improvement
  • The process of continual improvement as defined by the last two steps in Deming’s PDCA cycle. This process establishes KPIs and systems to monitor the condition and performance of assets and the performance of the AM system. GFMAM subjects covered: asset performance and health monitoring, AM system monitoring, management review, audit and assurance.