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Exam Preparation

PAM
Physical Asset Management

Rating:

4.8

English

Intermediate

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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.

Majed Al Q.

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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.

LEORON - Professional Development Institute

LEORON is the leading corporate training and EdTech company in the EMEA region, with the most comprehensive learning and development solutions in all strategic corporate functions, including Corporate Finance, HR, Procurement and SCM, Technology, Quality, Operations and Engineering. Through instructor-led sessions, in-company training, and coaching, our faculty of experts deliver over 1200+ programs annually, while 25,000+ professionals are equipped with up-to-date relevant education and the latest tech solutions across the EMEA region.We help our valued clients with a wide range of services, including Training Needs Analysis, Competency Development and Assessment, and custom-built e-Learning solutions that cater to specific industries and knowledge areas.LEORON mission remains boosting competitiveness of our clients worldwide through continuous learning, while we strive to achieve our vision of becoming the best quality corporate training and EdTech Company in the EMEA and the world.Whether our clients are facing difficulties re-organising their brand, equipping their workforce with an extra set of skills or aiming to assess competencies within an existing structure, our development planning is a great solution.LEORON’s mission is to help our worldwide clients boost their competitiveness by improving the competency levels of their employees, through top quality training and development solutions delivered by unrivaled global experts and facilitated by the best training managers in the industry.

Course Outline

Part 1: Strategic Asset Management Leadership

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: Strategies for Asset Management Excellence

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: Advanced Techniques in Asset Reliability and Maintenance

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: Failure Analysis and Spare Parts Management

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

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: Optimization of Condition-Based

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

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: Asset Management Decision Making and Software Applications

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 study•Predicting 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 [email protected].

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