REDAS: Facilities Management Essentials: Lifecycle Cost Analysis and Asset Management Strategies

Date: 04 June 2021
Time: 0900 – 1200
Venue: Online
Fees: $203.30

Today’s competitive global marketplace focuses on cost optimisation and productivity. Owners and investor require system and equipment to be maintained so as to maximise uptime and minimise operational costs. It is believed that maintenance is the cure for all life cycle cost management issues granted that some breakdowns are maintenance related. In most cases, a deeper investigation reveals a different case to be the better management and analysis of information in order to identify the less obvious opportunities for improvement in productivity and savings.

ISO 55000 on Asset Management Systems provides an effective mechanism to support asset life management. It starts with a best-practice design that consider environmental conditions; duty cycle; eliminating inherent reliability issues and defects; followed by the operator asset care and maintenance programme. Asset reliability and lifecycle cost require executive level leadership as well as commitment for all stakeholders.

This course is designed to bring these elements together to demonstrate the practical applications of asset management plans, equipment productivity and lifecycle cost analysis. It will also provide practical insight into best practice concepts about Maintenance and Reliability Management to improve the performance of machines with reference to relevant case studies to reflect on these key issues and its application to new and ageing assets.