Risk-Based Asset Management

Facilitators Make The Difference: Featuring Mike Smith

Related Resources:

View a Single Point Lesson on Equipment Bill of Materials
An example of the useful, action-oriented information you'll learn in this course.

Learn more about the Reliability Engineering Certification Program

Learn more about the Maintenance Management Certification Program

Risk-Based Asset Management Training

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.

Learn How To

• 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.

Additional Information

Each course includes a comprehensive active learning manual, morning and afternoon refreshments, lunch, and the use of a fully equipped e-business center. Class hours are 8:30am to 4:30pm Tuesday through Thursday. Virtual course hours that run from 11am-5pm EST. All students completing a class at the Life Cycle Institute will receive a certificate of completion awarding 2.1 CEU’s.

For More Information on Training and Services

800-556-9589 | education@LCE.com