Asset Life Cycle is a key process within asset management. Asset Life Cycle Management entails the evaluation of combined capital and operating expenditure throughout the asset life cycle in order to optimize the profit generated from the asset.

The current competitive economic environment has alerted capital-intensive businesses with the need for cost reduction and productivity. Asset life cycle cost is a varying aspect which has to be controlled by managing both internal and external cost drivers, maintenance and non-maintenance issues.

By the end of this course, participants should be able to:

• Understand how to build and maintain effective asset management plans in order realise maximum asset value
• Comprehend the significance of asset master data towards effective asset life cycle management
• Determine the most suitable analysis and modelling techniques in asset life cycle forecasting, choosing maintenance strategy and optimal life establishment
• Gain understanding on procedures for building effective zero-based budgets, concentrating on improved reliability of critical assets
• Define requirements of operational readiness and focus for new assets and distinguish the approach towards ageing assets

• Introduction to Asset Management and Asset Life Cycle Management
• Asset Whole Life Cycle Costing principles
• Optimising the Value of Assets
• Process of Asset Portfolio Management
•  Optimal Capital Investment decision-making
• Item specification and design from user requirements
• Asset Creation and Acquisition including installation and commissioning
• Asset Decommissioning and Disposal

Delivery

• The 2-day session equips with knowledge and skills to bring competency
• Self-assessment quizzes and interactive group discussions on each learning areafoster great understanding
• Interactive group sessions and illustrative videos will be delivered to enhance content comprehension