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.

Top Learning Objectives

  • Have a broad understanding of Asset Management in the Industry.
  • Understand the key components of risk management in modern asset management.
  • Identify 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
  • Identify ways to reduce asset risk and evaluate their effectiveness
  • Understand a failure mode and effects analysis (FMEA) and how it analyses risks and maps control strategies to failure modes
  • Understand how audits, reviews, and critical performance indicators drive continuous improvement

Who Should Attend?

This course is very relevant to technical engineers and professionals who handle and are responsible for their organizations’ maintenance; as well as the overall smooth operations and processes of their organizations’ plants and machinery.

These include Superintendents, Managers, Supervisors, Team Leaders, Heads of Department, Engineers, Foreman, Planners, Directors of the following departments:

  • Maintenance
  • Mechanical
  • Preventive Maintenance
  • Manufacturing
  • Predictive Maintenance
  • Physical Asset Management
  • Production
  • Reliability
  • Process
  • Control
  • Instrumentation
  • Engineering
  • Operations
  • Plant
  • Transmission
  • Automation
  • Inspection

From industries including but not limited to:

  • Mining
  • Manufacturing
  • Power & Utilities
  • Engineering
  • Oil & Gas
  • Petrochemicals
  • Chemicals
  • Pharmaceuticals
  • Food & Beverage
  • Automotive
  • Construction
  • Aviation
  • FMCG
  • Telecommunications

Trainer's Background

A chartered engineer with over 25 years of industry experience, skilled in asset management with experience in major capital projects globally. The Trainer’s main area of focus is on asset management of all facilities across the value chain. He held both engineering and management consultant roles in oil majors and consultancies. He held responsibility for major projects and focused on combining both technical and tactical responsibilities, building and maintaining a cohesive team, and delivering value to our customers. 

  • CMRP – Certified Maintenance and Reliability Professional
  • Certified Reliability Leader (Association of Asset Management Professionals
  • Certificate & Diploma in Asset Management – Institute of Asset Management
  • Chartered Manager (Chartered Management Institute)
  • Chartered Engineer CEng – Member of the Energy Institute
  • European Engineer EurEng