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Course Overview

Physical Asset Management can reduce maintenance costs, increase the economic life of capital equipment, reduce company liability, increase the reliability of systems and components, and reduce the number of repairs to systems and components. When properly executed, it can have a significant impact on an organization's bottom line. This five-day program has been designed to help managers care for their assets efficiently and effectively through sound and timely decision-making. This certificate program gives participants the tools and methodologies necessary to achieve maintenance excellence in your organization.

Learning Outcomes

  • How to assess you organization's MAINTENANCE MATURITY and dynamics that govern your maintenance function and organization. 
  • How to PRIORITIZE opportunities within your maintenance organization 
  • What are the KEY FINANCIAL INFLUENCES of asset management KEY METRICS for asset management 
  • LEADING PRACTICES in Asset Management 
  • The value of properly executed PLANNING AND SCHEDULING 
  • The value of Reliability Centered Maintenance (RCM2) 
  • The need to consider PEOPLE as the major component of a successful Asset Management program 
  • TECHNOLOGY TRENDS in Asset Management 
  • An approach to Total Asset Life-cycle Management (TLAM) 
  • Key INITIATIVES TO TAKE BACK to your organization to improve your Asset Management 
  • WHEN TO BUY a new asset 
  • Identifying the best buy 
  • Why you should incorporate THE TIME VALUE OF MONEY when establishing the economic life of an asset 
  • How to arrive at the economic life of an asset where its UTILIZATION DECLINES as it ages 
  • What approaches to use for monitoring the performance of an individual asset 
  • The answer to optimizing the REPAIR-OR-REPLACE decision 
  • How to work with AGE/CON and PERDEC to PERFORM ECONOMIC LIFE CALCULATIONS 
  • How TAX CONSIDERATIONS influence the economic life of an asset 
  • Whether or not to take advantage of a TECHNOLOGICALLY IMPROVED asset 
  • How to predict future O & M costs when there are little data available
  • How to elicit TACIT KNOWLEDGE from specialists to improve economic life decisions. 
  • Which EQUIPMENT COMPONENTS should be part of your preventive maintenance plan 
  • Which components should be run-to-failure 
  • Why WEIBULL ANALYSIS is a "must" in analyzing equipment failure 
  • The importance of the Weibull b parameter A sure-fire way to calculate your SPARE PARTS requirements 
  • Which REPLACEMENT POLICY to use: The block replacement or age-replacement times for critical components 
  • When your data is limited - how do you deal with it 
  • Steps you can take to improve on your current preventive maintenance program 
  • How to interpret THE BATH-TUB CURVE'S "three regions" - and what the interpretation will tell you 
  • How to use OREST software to optimize component preventive replacement times 
  • How to use OREST SOFTWARE to forecast the demand for spare parts taking into account an optimal  preventive replacement policy 
  • The right way to establish the optimal INSPECTION FREQUENCY for equipment in continuous operation 
  • The right way to evaluate the current interval between classes of inspection - such as A,B,C, and D 
  • How to establish the most appropriate FAILURE FINDING INTERVAL for protective  devices 
  • How to come up with the failure risk of equipment that's subject to CONDITION-BASED MAINTENANCE 
  • What the University of Toronto's new EXAKT SOFTWARE for condition-based maintenance may be able to do for you 
  • What the University of Toronto's new SMS SOFTWARE for provisioning of emergency/capital spares may be able to do for you.

تحديث بتاريخ 25 January, 2023

نبذة عن معهد LEORON Professional Development Institute

LEORON Professional Development Institute is the leading corporate training company in the emerging markets of Europe, Africa and Asia. LEORON has grown into one of the most comprehensive training institutes in the EMEA region, offering training solutions in all strategic corporate functions including corporate finance, HR, SCM, operations, sales and marketing, and engineering. With offices in Sweden, Dubai, Riyadh, Skopje, Accra and Almaty, we run over 500 courses and train over 3000 professionals annually across the EMEA region.

As a leading Competency Based Training institute, our commitment is to help increase Competitiveness of our clients by strengthening the skills, competencies and abilities of their employees, assist with the Capacity Building programs and assure continuous Competency upgrade by providing them with knowledge, practical tools and learning systems that are unmatched in the market.

LEORON Professional Development Institute mission is to help corporate clients and government entities worldwide in strengthening the overall competency of their employees by providing them with top quality professional training programs, conducted by unrivaled global experts and implemented by the best training managers in the industry.

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