Risk-Based Asset Management

Life Cycle Engineering
Training overview
Professional Course
3 days
From 1,895 USD
Start dates
Online
1,895 USD
8/31/2021

Columbus
1,895 USD
6/8/2021

Greenville
1,895 USD
11/16/2021

Course description

Risk-Based Asset Management

Explore how to improve asset availability and meet reliability goals by applying a risk-based approach to asset maintenance and operations. In the Risk-Based Asset Management (RBAM®) course, you practice how to prioritize reliability efforts on critical equipment and failures that impact your operation. RBAM incorporates reliability-centered maintenance (RCM) principles and continuous improvement practices like PDCA to position your program for decreased downtime, lower maintenance expenditures, and an acceptable total cost of ownership.

During the course, participants classify and analyze assets and failures to rank equipment criticality and draft a risk plan. Next, learners build a failure mode and effects analysis (FMEA) to define control strategies and populate an equipment maintenance plan. Group activities in the class include examining how life cycle cost influences investment and choosing key performance indicators to manage a reliability program. Specific emphasis will be placed on the resources needed to create an asset management plan - a risk, maintenance and asset operations plan – that can manage the entire life cycle of an asset

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Who should attend?

This is ideal for people responsible for the design, installation, commissioning, operation and maintenance of capital assets and auxiliary equipment. This includes project engineers, reliability engineers, maintenance managers, operations managers, and engineering technicians.

Training content

  • Draft components of an asset management plan: risk and maintenance plan
  • Describe what an asset management organization needs to know to manage risk and improve performance
  • Describe the four phases in a risk-based asset management model
  • List ways to extend the life of assets and evaluate their effectiveness
  • Use a failure mode and effects analysis (FMEA) to analyze risks and map control strategies to failure modes
  • Describe how audits, reviews and key performance indicators drive continuous improvement
  • Practice applying a standard process for preventive maintenance optimization
  • Select the optimal strategy for renewal or disposal based on asset management strategy

Certification / Credits

All students completing a class at the Life Cycle Institute will receive a certificate of completion awarding 2.1 CEU’s.

About LCE

Life Cycle Institute

Life Cycle Institute is Life Cycle Engineering's human performance practice that integrates learning, change management and project management to teach people how to implement best practices for asset maintenance, reliability engineering and MRO materials management. The Institute offers 16 courses...


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Life Cycle Engineering


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Reviews

Average rating 5

Based on 3 reviews.

Bojan F.
(5)
Great content and easy to follow, both facilitators did fantastic job--This is as good as it gets. THANK YOU!
Hector R.
(5)
Great content, well laid out and easy to follow and understand. Facilitator was very knowledgeable and professional.
Max Madrid
(5)
The facilitator, Michael did an amazing job at conveying this information effectively. I have a B.S. and MBA and 10 years of Navy Nuclear training under my belt. I'm having a hard time thinking of a single class in my career that's been this comprehensive and useful. Thanks Mike! This was awesome!
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