Course Description
Asset Management is an important part of organizational best practices. Corporations have realized that effective Asset Management can provide real benefits and cost savings.
The asset management framework provided in this workshop is flexible enough for any organization. You can apply it to a single project, a department, or use it as a basis for an enterprise-wide asset management program.
Course Objective
• Understand and comprehend the basics of Asset Management principles, approach, and methodology
• Application of the Asset Management Principles.
• Ability to identify existing / potential risks/threats within the organization or emanating from external sources, which may have an impact on Asset Management activities
• Legal Impact(s) due to ineffective Asset Management
• Differentiate between fixed assets and stock
• Understand the influence that stock management can have on the profitability of a business
• Understand the management of fixed assets in a business unit
Who Should Attend
Junior Managers, Team Leaders, Supervisors and First Line Managers
Training Methodology will be based on the following
: Highly Interactive Session, with a bilateral approach to the subject matter allowing participants to
share incidences at respective work locations.
: Short Video Presentation
: Mind Mapping and Recap Sessions
: Workshop Session – allowing participants to have a hands-on participation in the application of
Planning, implementation, execution and compliance inspections strategies and work in synergy
with other participants
: Ice Breaking / Monotony Breaking Sessions – Purpose of rejuvenating the mind
: Encourage teamwork
Duration: 2 days (Daily 9 am – 5 pm)
Course Outline
9.00am – 10.30am
• Mission / Vision
> In Supporting Business Continuity
> As a Business Partner of Organization
• General Asset Management Programme
> Concept and applicability
> International Standards
10.30am – 10.45am Tea break
10.45am – 1.00pm
• Differentiate between fixed assets and stock
> The concepts of fixed assets and stock are explained with examples
> The different fixed assets in a business unit are identified and an indication is given of the purpose of each asset
> Understanding how stockpiling impacts on the bottom-line of the business
• Understanding the influence stock and asset management can have on the profitability of a business
> The need for asset management is explained with reference to fraud, theft, and carelessness
> Developing a procurement plan to assist in planning
• Definition of Asset
> Something you own that has value
> Assets that gain value over time or lose value over time
> Types of Asset
• Definition of Asset Management
> Maintaining a desired level of service at the lowest life cycle cost
• Purpose of effective Asset Management
> Provision of effective service to support Business Continuity
• Concept
> Asset Management is a tool which can be used to assure that utility services are provided in a sustainable, cost-effective way
• Standard Operating Procedures (SOP) Compliance
> Understanding SOPs, Enforcement of SOP requirements
1.00pm – 2.00pm Lunch
2.00pm – 3.30pm
• Risk Analysis & Management
> Risk Matrix (Basic Introduction and Understanding)
> Assessment methodology of risk to the organization /business/assets
> Management of risk
> How each department plays its role in doing a risk analysis
> Case Study and Group Discussion
3.30pm – 3.45pm Tea break
3.45pm – 5.00pm
• Definition of Operations and Maintenance / Capital Improvement Programme
> Best O&M and CIP Strategies
- Develop Asset Registry
- Assess Condition, Failure Modes
- Determine Residual Life
- Determine Life Cycle & Replacement Cost
- Set Strategy Levels of Service
- Determine Business Risk
- Optimize O&M Investment
- Optimise Capital Investment
- Determine Funding Strategy
- Building of AM Plan
• Wrap Up
Mind Mapping and recap
Day 2
9.00am – 10.30am
• Asset Management Framework
> Business Process
> Plans
> Strategic Initiatives
> Annual Budgets – Operating Budget & Capital Investment
10.30am – 10.45am Tea break
10.45am – 1.00pm
• Five Core Components of Asset Management
> Critical Assets
> Long Term Funding Strategy
> Current State of Assets
> Required Level of Service
> Minimum Life Cycle Cost
• Managing fixed assets
> Identifying fixed assets on a balance sheet
> Updating your asset register
> Understanding the valuation of assets with reference to depreciation and investment
> Utilisation of assets
> Disposal of assets
Case Study & Short Video Presentation
1.00pm – 2.00pm Lunch
2.00pm – 3.30pm
• Interrelation of Components
• What Conditions Make AM so Important
> Inadequate Capital Funding
> Aging Infrastructure
> Inadequate Cost Recovery Over Time
> With these Conditions, Have to Be Smart About When to Do O&M, Repairs, Rehabilitation, and Replacement
3.30pm – 3.45pm Tea break
3.45pm – 5.00pm
• A Few Key Benefits
> Better Capital Projects
> Capital Project Savings
> Best Customer Rate
• Group Discussion and Classroom Presentation
• Mind Mapping and Recap