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Asset Performance Management Foundation Course Provides guidelines on how to manage the vital balancing principles in any asset intensive business.

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What is Modern Physical Asset Management?

Asset Management is all about managing assets, asset portfolios, asset systems and integrated management systems. The key consideration in asset management is that assets should be managed across the life cycle perspective (cradle to grave); which means planning, purchasing, construction, acquiring, using, operating, modifying, dismantling and disposing. The standards provide guideline on how to manage the vital balancing principles in any asset intensive business i.e. to manage Costs, Risks & Opportunities, and Performance. ISO 55001:2014 is the most widely acceptable international standard that is currently in practice globally in Oil & Gas, Utilities, Manufacturing, Ports, Terminals, Rail, Hospitals, Defense and other Infrastructure sectors.

Course Description

The Asset Performance Management course is a foundation level course designed to bring maintenance practitioners to a common level of understanding with regard to the main terms and concepts underpinning Asset Reliability and world class Asset Performance Management. The participants will explore how the concepts and strategies can be used to maximize their experience and build strong bases from which the organization’s Asset Management and Maintenance strategies will continue to evolve. The course will consist of a series of lectures followed by workshops where participants will either get involved in exercises designed to explore the concepts discussed or reflect on how the concepts could be applied in their workplace.

The participants are expected to gain a foundational knowledge of the principles behind asset management, the different maintenance strategies that can deployed to improve asset reliability and most importantly a vision of what world class asset performance looks like and how they can better help participants achieve their Reliability goals and targets.

Course Objectives

  • ANALYSE the fundamental concepts of modern Physical Asset Management
  • LEARN how to develop and align the business strategy with the asset management strategy
  • IMPLEMENT best practices for the physical asset management
  • UNDERSTAND the concepts of conflicting drivers in the asset management; risk, cost and performance management
  • COMPLETE a small gap assessment exercise  and benchmark your asset management  practices with international standards.
  • NETWORK with a variety of influential personnel

Course Outline






Asset Management Overview

Asset Life Cycle Definition

Activity 1:

Risk Based Management

Activity 2


Managing Risk: Asset Criticality

Activity 3

Managing Risk: Understanding Failure

  • RCA
  • FMEA

Activity 4



Condition Assessment

Activity 1

Asset Management Strategy

Activity 2


Understanding and Applying Maintenance Strategies

Activity 3

Understanding and Applying Maintenance Strategies (Continued)

  • Run to Failure
  • Preventative
    • Time Based
    • Usage Based
  • Predictive
  • RCM

Activity 4

Maintenance Records

Maintenance Metrics



Managing Consumables and Spares

Activity 1

Managing Service Provider Performance

Analysis Tools and their value to the RCM Team

Activity 2

Finance 101: Whole Life Cost Terms and Acronyms

Asset Life Cycle Cost and how the RCM team can positively impact it


Activity 3

The Road to Asset Performance

OPTIONAL¹: The APRI Asset Performance Management Road Journey & Road Map

OPTIONAL²: The Roles and Responsibilities of the RCM in the APM Journey

Activity 4

Who Should Attend

The course is intended for Managers, Engineers, Asset Owners such as

  • Maintenance & Reliability Engineers
  • Maintenance Managers
  • Asset & Operations Managers
  • Business Professional
  • Quality Management Professionals
  • AMS/IMS Auditors
  • Accountants


  • Oil & Gas, Petrochemicals & Refineries
  • Power, Utilities & Nuclear
  • Hospitals, Public Offices
  • Rail, Defense, Military, Terminals, Ports…