Fundamentals of Asset Management: PAS 55 and ISO 55000 Standards, Processes and Implementation Guidance Course

Course Overview:

The Fundamentals of Asset Management: PAS 55 and ISO 55000 Standards, Processes, and Implementation Guidance course gives professionals a thorough knowledge of the standard operational procedures in asset management with reference to PAS 55 and ISO 55000.

There is an understanding of the steps taken in carrying out such operations from the most basic ones to the very advanced methods which are geared toward creating maximum value in the organization.

It incorporates evaluating asset strategy constructs, the personnel involved in performing the activities associated with asset management, and other key standards such as PAS 55 and ISO 55000.

Other subjects of interest also include : demand analysis, risk analysis, life cycle costing techniques, assessment of performance, as well as asset procurement.

By means of participation in case studies and specific exercises, students will also engage in evidence based best practice implementation processes and appreciate how the asset management activities are conducted in practice within the structure of the organization. This course is suited for people who work in asset management, IT, operations, finance or other interdisciplinary departments.

Course Objectives:

At the end of this Fundamentals of Asset Management: PAS 55 and ISO 55000 standards, Processes and implementation guidance Course, learners will be able to do:

• 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 an 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 delegate’s company

Who Should Attend?

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

Course Outlines:

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)

• Introduction
• 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

• Introduction
• 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

• Introduction
• Risk management
• Risk-Based Maintenance concepts (RBM)
• Life Cycle Costing (LCC)

Assessment & Implementation Aspects

• Introduction
• Asset Management assessment
• Asset Management teams
• Changing the behavior of people
• Implementation of Asset Management – case study
• Wrap-up

see more: Fundamentals of Auditing Program Course