PAM
Certificate in Physical Asset Management

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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.

Martin S.

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Key Takeaways

Analyze the key components of physical asset management, including maintenance strategies, risk management practices, and financial planning, to develop effective asset management plans.

Apply the principles of lifecycle costing and value management to assess the long-term costs and benefits of asset management decisions, and develop strategies to optimize asset performance.

Evaluate the impact of technological advancements on physical asset management, and identify opportunities to leverage emerging technologies such as IoT, AI, and blockchain to improve asset performance and reduce operational costs.

Synthesize data from a variety of sources, including asset inventories, condition assessments, and performance metrics, to develop comprehensive asset management plans and monitor progress towards achieving performance targets.

Collaborate with key stakeholders, including maintenance personnel, financial analysts, and senior management, to communicate asset management plans and strategies, and gain support for implementation efforts.

C-More

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

Part 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

An approach to prioritizing opportunities for improvement
Six key steps to planning and scheduling resources effectively
Planning exercise

Reliability-centered maintenance and failure modes and effects analysis

Asset–centric continuous improvement and risk reduction
How to successfully implement an RCM program

Strategic cost reduction

What does this mean in maintenance?
What can we realistically achieve?
How do we get a committed focus on Maintenance and Asset Management?

Part 2

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 on 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

Part 3

Reliability improvement through preventive maintenance and optimal spare 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, and Availability-Maximization
Repairable systems

Part 4

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

Part 5

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 emergencies (e.G. Protective devices)
Case studies including transportation fleets (for inspection frequency) and oil and gas field equipment such as pressure safety valves (for protective devices)

Part 6

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 include the food procession industry (vibration monitoring), mining and shipping equipment such as diesel engines (oil analysis), transportation equipment such as traction motor bearings (visual inspection)

Part 7

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 the long term

Concept of the time value of money
Defining cash flow diagram Calculating Net
Present Value of a decision
Estimating the time value of money in practice

Calculating the economic life of an asset

The 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 forklift trucks
North American manufacturing case study
Establishing the economic life of the 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

Part 8

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 studyPredicting 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

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

The case studies

Combustion engines, fleet vehicles, forklift 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 by applying LCC management principles.

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

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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