Asset Cost Management Introduction

• Definitions of reliability, maintenance & asset management
• The total cost of maintenance
• Best practice reliability and maintenance processes
• Elements of asset management best practice
• Auditing performance
• Overview of TPM, RCM, BCM, QCM, and other asset management buzzword
• Open discussion sessions

 Laying the Groundwork

• Team-work maintenance, operations, stores
• The importance of standards such as PAS 55, JA1011
• Corporate asset management expectations
• Asset performance expectations
• The forms of asset failure and degradation
• The causes and nature of asset failure and degradation
• The effects, cost and risks of asset degradation
• Practical Application and Open Discussion sessions

Applying the Value based Process

• Breaking the cycle of failure and degradation
• Select  PM tactics on the basis of costs and risks
• How to determine PM intervals
• Condition based maintenance types and the PF-curve
• The four important  reliability functions
• Implementing best practice maintenance programs
• Optimising spares to support the maintenance program
• Maintenance program cost and risk based justification
• Practical Application and Open Discussion Sessions

Ensuring the Continuity of the Value-based Process                       

• Complete the PLAN, DO, REVIEW Improvement cycle with FRACAS
• Failure Reporting, Analysis and Corrective Action System requirements
• Structure and code data collection to support reliability analysis
• How to quantify chronic failures and losses
• Use Pareto analysis and stratification to focus the value-based analysis
• Quantify losses in life cycle terms
• Hypothesise root causes of failure and verify on the basis of evidence
• Reliability Analysis Case Study
• Discussion of software and templates to support analysis

 Supporting Process that Lower Life-cycle costs

• Planning and scheduling best practice
• Cost effective man-power and skills deployment
• Performance indicators to drive continuous improvement
• Overall review of concepts learned