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Certificate in Physical Asset Management

Rating:
4.8
English
Advanced
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LIVE VIRTUAL
TRAINING
FACE 2 FACE
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COACHING
& MENTORING
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Course Overview

Physical Asset Management can reduce maintenance costs, increase the economic life of capital equipment, reduce company liability, increase the reliability of systems and components, and reduce the number of repairs to systems and components. When properly executed, it can have a significant impact on an organization’s bottom line. This fiveday program has been designed to help managers care for their assets efficiently and effectively through sound and timely decision-making. This certificate program gives participants the tools and methodologies necessary to achieve maintenance excellence in your organization.

Key Takeaways

1
Assessing your organizationu2019s asset management maturity level, setting goals, analyzing gap, and develop road map to close the gap.
2
Developing right and optimum maintenance, reliability, and asset management strategies most suitable for your organization.
3
Learn how to manage and optimize your spare parts costs.
4
Calculate economic life of your expensive assets.
5
Find the right inspection and PM intervals for your critical equipment.

C-More
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The Centre for Maintenance Optimization and Reliability Engineering is directed by Professor Andrew K. S. Jardine, the internationally recognized maintenance optimization expert, within the Department of Mechanical and Industrial Engineering at the University of Toronto. C-MORE’s research is driven by close interactions with industry, in particular with C-MORE consortium members and with researchers at universities worldwide. Our focus is on real-world research in engineering asset management in the areas of condition based maintenance, spares management, protective devices, maintenance and repair contracts, and failure-finding intervals. These strong industry connections not only benefit the companies we work with, but also our graduate students, who find work in the maintenance divisions of industry leaders after graduation. We apply our research with prototype software tools that obtain valuable information from data in corporate databases. Two of these tools are now commercially available through the Ontario-based C-MORE spinoff company OMDEC, and through Ivara an industry leader and innovator in asset reliability solutions. C-MORE is also the driving force behind IMEC: The Asset Management Conference, which brings together leaders in the global maintenance field. For information about the conference, you can visit our site, or view Maintenance Technology’s article about the conference. C-MORE welcomes maintenance professionals as visitors and collaborators.

Course Outline

Day 1
Leadership and control, managing risk and reliability
Maintenance pyramid of excellence overview: -Leadership, control, continuous improvement, quantum leaps -Maintenance strategy, managing change, maintenance tactics, MRO materials management and performance measures Assessing an organization’s current
Maintenance Maturity & Reliability-centered maintenance and failure modes and effects analysis
An approach to prioritizing opportunities for improvement -Six key steps to planning and scheduling resources effectively -Planning exercise -Asset – centric continuous improvement and risk reduction -How to successfully implement an RCM program Strategic cost reduction: -What does this really mean in maintenance? -What can we realistically achieve? -How do we get a committed focus on Maintenance and Asset Management?
Day 2
Asset Management
How to approach an organization looking to improve their Asset Management performance
Exercise - Case study – on an actual company looking to improve its business
The impact of Change Management in Asset Management transformation -Why is Change Management important in Asset Mng. agreement effectiveness? -How have successful programs embraced Change effectively? -What key steps contribute to successful change? Introduction to decision-making optimization and its applications: -Optimizing life cycle decisions Technology Trends and Asset Management -More than just Maintenance management systems A strategic approach to achieving maintenance excellence: -Getting the technology, process and people mix right
Day 3
Reliability improvement through preventive maintenance and optimal spares sticking policies
Analysis of Component Failure Data -Probability Density Function -Reliability Function -Hazard Function -Weibull Density -Infant Mortality -Bath-Tub Curve
Dealing with Censored Data, the 3-Parameter Weibull, and the Kolomorgov-Smirnov Test
Upper-End Censoring -Multiply Censored Group Data -Estimating the Location Parameter the Weibull Distribution -Checking the Goodness-of-Fit of the Distribution Component Replacement Procedures including Glasser’s Graph -Block Replacement Policies -Age-Based Replacement Policy -Setting Policies based on Safety Constraints, Cost Minimization -Availability-Maximization -Repairable systems Exercise in Analyzing Component Failure Data Using the Weibull Distribution: -Estimating the Weibull Parameters -The role of the OREST software Package
Spare parts provisioning
Fast moving spares -Emergency (insurance) spares Case studies in spares provisioning Including line replaceable units (LRUs), cylinder heads, repairable electric motors and transformers. Group and individual exercises Clinic Hands-On Use of PC Software (OREST) for Preventive Replacement Strategies. Participants will solve pre-set problems.
Day 4
Reliability improvement through predictive maintenance
Reliability Improvement Through Inspection » Inspection Frequency and Depth for equipment in continuous operation» Inspection Intervals to Maximize Profit Maximizing Equipment Availability » Inspection intervals for equipment used in emergency situations (e.G. Protective devices) » Case studies including transportation fleets (for inspection frequency) oil and gas field equipment such as pressure safely valves (for protective devices) Reliability Improvement Through Health-Monitoring Procedures » Proportional Hazards Modeling » Spectroscopic Oil Analysis Programs » Optimization of Condition-Based Maintenance Procedures » Role of EXAKT software for CBM optimization » Case studies including food procession industry (vibration monitoring), mining and shipping equipment such as diesel engines (oil analysis), transportation equipment such as traction motor bearings (visual inspection) Demonstration of EXAKT software for optimizing condition-based maintenance decisions.
Day 5
Life Cycle Costing (LCC) management
Life Cycle Costing (LCC) management and why it is important -Definition of life cycle and its implications -Life cycle costs categories -Solving inter-departmental conflicts in asset replacement/ acquisition decisions -The size of the prize Choosing the best buy in long term -Concept of time value of money -Defining cash flow diagram Calculating Net -Present Value of a decision -Estimating time value of money in practice
Economic life of an Asset
Calculating the economic life of an asset -Trade-off between O & M costs and capital expenditures -Establishing the economic life of fixed equipment such as an internal combustion engine. -South American case study -Establishing the economic life of mobile equipment including fleet vehicles and fork lift trucks -North American manufacturing case study -Establishing the economic life of equipment that is highly utilized when new, and as it ages it is used for peak demands -North American transportation case studies -How to calculate the best time to replace the current asset with a more technologically improved asset - Turbo expander case study Repairing an existing asset vs. buying a new one -Loader repair/replace case study-South America -Underground pipe case study-repair a leak or replace the pipe section-North American case study Predicting future life cycle costs of a fleet -Case example: Based on a fleet of transformers of a major electricity distribution company in North America Carrying out LCC analysis when there are few (or no) data available -Establishing the economic life of linear assets such as steel mains of a major gas distribution company in North America -Estimating distribution of end of life of transformers based on experts’ opinions - from a limited data-North American case study The case studies -Combustion engines, fleet vehicles, fork lift trucks, a turbo expander, a loader repair/replace decision and a fleet of transformers. They represent real-world examples where companies saved hundreds of millions of dollars through applying LCC management principles. Software Clinic -AGE/CON for the optimization of the economic life of mobile equipment -PERDEC for the optimization of the economic life of plant equipment

Who Should Attend?

This highly practical and interactive course has been specifically designed for
Director of Engineering
Asset Manager
Physical Asset Manager
Asset Integrity Manager
Maintenance Manager
Facility Manager
Reliability Engineer
Operations Manager

FAQ

What language will the course be taught in and what level of English do I need to take part in an LEORON training program?
Most of our public courses are delivered in English language. You need to be proficient in English to be able to fully participate in the workshop and network with other delegates. For in-house courses we have the capability to train in Arabic, Dutch, German and Portuguese.
Are LEORON Public courses certified by an official body/organization?
LEORON Institute partners with 20+ international bodies and associations.We also award continuing professional development credits (CPE/PDUs) for:1. NASBA (National Association of State Boards of Accountancy) 2. Project Management Institute PDUs 3. CISI credits 4. GARP credits 5. HRCI recertification credits 6. SHRM recertification credits
What is the deadline for registering to a public course?
The deadline to register for a public course is 14 days before the course starts. Kindly note that occasionally we do accept late registrations as well, but this needs to be confirmed with the project manager of the training program or with our registration desk that can be reached at +1071 4 1075 5711 or register@leoron.com.
What does the course fee cover?
The course fee covers a premium training experience in a 5-star hotel, learning materials, lunches & refreshments, and for some courses, the certification fee and membership with the accrediting bodies.
Does LEORON give discounts?
Yes, we can provide discounts for group bookings. If you would like to discuss a discount on a corporate level, we will be happy to talk to you.

Reviews

  • Review:
    IAMM Internal Audit Maturity Model
    In recognition of their dedication and contribution supporting IKEA Saudi Arabia in arranging training programs during 2017 & 2018, looking forward for more development and exciting effort this year. On behalf of IKEA Saudi Arabia, THANK YOU!
    Dalal Kutbi
    Country Learning & Development Manager at IKEA Saudi Arabia
  • Review:
    Certified Professional in Quality and Patient Safety
    Dating back to 2014, Mobily’s “LEORON” experience has grown from a single collaboration to a long-term partnership. We consider ‘’LEORON” Institute as a strategic partner, whose contribution has been nothing but premium in equipping our staff with field-based knowledge and information. Past three years have resulted with an expanded collaboration with superior customer service and support. Best Regards,
    Turki S. Alsahaan
    Dir L&D, Talent Management at Mobily, Etihad Etisalat Company
  • Review:
    Certified Professional in Quality and Patient Safety
    Since the partnership was signed between BAE Systems Saudi Development & Training and LEORON in 2017, we have been working together to offer the Saudi market a complete portfolio of training solutions benefiting from the wide and extensive experience of both parties. Recognizing the great success of this partnership, we are looking for further collaborations in the future that will position both companies as one of the leading training providers in Saudi Arabia. We thank the LEORON team for their full cooperation and continuing support, and look forward to further success together in the years to come.
    Emad Alrajih
    VP, Business Winning at BAE Systems Saudi Development & Training
  • Review:
    Certified Professional in Quality and Patient Safety
    We have been working with LEORON for the past two years and will be working with them again this upcoming year. The programs they delivered were fruitful and exciting and our organization has received positive feedback from the participants. What our organization aims to do is to provide at no cost training for all the private sector employees so that they may benefit from our offered programs in Innovation and Professional development. Leoron has helped us achieve this goal. We look forward to continuing this service and wish them the best of luck. Regards,
    Nasser M. Al-Subaie
    Sr. Program Officer, Enterprise Learning & Human Development at Kuwait Foundation for the Advancemen