010 Asset Management Decision Making
The module demonstrates how good Asset Management (AM) decision making is crucial to the development of robust AM Strategies and Plans, to the delivery of maximum value, and to the demonstration of this value to stakeholders.
The material covers the subject of optimizing the mix of costs, risks, performance and sustainability, within any absolute constraints. It also addresses the issues of data quality and the use of expert knowledge.
The module complements our 'AW009 Asset Information' module, which explains the importance of data, information and information systems to support decision making.
The module can be accessed on any Smart phone, tablet, laptop or desktop.
The course content was designed and developed by internationally recognised AM specialists.
The module features:
- Professional Audio
- Animation and Interactivity
- Formative and Summative assessments
It is one of 14 modules in the Asset Management Course mapped to the Institute of Asset Management (IAM) Certificate examination. These modules also cover the 39 'Landscape' subjects of the Global Forum for Maintenance and Asset Management (GFMAM).
Learning outcomes
By completing the module, you'll understand:
- The importance of a robust decision making methods and criteria for asset intervention decisions and the optimisation of AM plans
- The principal concepts, processes and tools that support risk-based decision making
- The role that effective Life Cycle Costing (LCC) and value realisation plays within AM decision making, and
- The role that optimised resource strategies can have in risk management and how they underpin the delivery of AM plans.
Target audience
Those working in any sector where physical assets are important, e.g. Electrical, gas & water utilities, Manufacturing, Processing, Mining, Oil & Gas, Transport, Facilities Management, Municipalities etc.
Those new to AM, those preparing for the IAM Certificate exam and also experienced practitioners wishing to check their knowledge.
Course Content
The AM Decision Making module demonstrates:
- That AM is a cross disciplinary activity calling for expertise and knowledge from multiple sources
- The factors that need to be considered in decisions about capital investments, minor projects, operations and maintenance
- What an optimal decision represents, and the determination of the best value combination of costs, risks and performance over the whole asset life cycle.
- The processes for optimising resource strategies
- The process for optimising shutdown and outage strategies
Estimated duration
30 mins in one session (or in small parts if preferred)
GBP 54.00 per subscription
