Course detail: Risk-Based Asset Management

Description

Every operation includes a certain amount of risk. Risk-Based Asset Management (RBAM) provides engineers, managers and technicians with the ability to analyze potential risks by prioritizing reliability efforts on critical equipment and failures that impact their operations. In this course, you will explore how to improve asset availability and meet reliability goals by applying a risk-based approach to asset maintenance and operations.

During the course, you will classify and analyze assets and failures to rank equipment criticality and draft a risk plan. Next, you will 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.


Learning Objectives

  • Draft 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
  • Describe the four phases in a risk-based asset management model
  • List ways to extend the life of assets and evaluate their effectiveness
  • Use a failure mode and effects analysis (FMEA) to analyze risks and map control strategies to failure modes
  • Describe how audits, reviews, and key performance indicators drive continuous improvement
  • Practice applying a standard process for preventive maintenance optimization
  • Select the optimal strategy for renewal or disposal based on asset management strategy

Who Should Attend?

This is ideal for people responsible for the design, installation, commissioning, operation and maintenance of capital assets and auxiliary equipment. This includes project engineers, reliability engineers, maintenance managers, operations managers, and engineering technicians.


Live Online Training

Virtual, Instructor-Led Training (VILT) combines the benefits of traditional classroom training and online learning. It allows participants to have the experience of live instructor-led training without having to go to a classroom or have the instructor present in person.

Using Zoom's technology, this video-based training allows learners to ask questions, participate in discussions, and get trained together irrespective of their location. Participants in the Institute's virtual classes will learn the same content from the Institute's in-person classes while participating in professionally facilitated sessions with activities that stimulate participation and learning:

  • Online breakout sessions with facilitator support
  • Individual and group assignments and discussions
  • Polls, Q&A, and online whiteboard activities that keep learners engaged

Life Cycle Institute's virtual classes were developed by industry-leading subject matter experts and certified professional instructional designers with experience converting live, instructor-led classes into engaging and effective online learning experiences using learning best practices.


Certificate Tracks

Part of the Life Cycle Institute Reliability Engineering Certification and the LCI Maintenance Management Certification Program.


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Course Resources
Risk-Based Asset Management Course Information (PDF Document)
Reliability Engineering Certification Information (PDF Document)
Maintenance Management Certification Information (PDF Document)
KU Life Cycle Institute Catalog 2020-2021

Available sessions