Risk-Based Asset Management – 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 process.
Risk-Based Asset Management 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 lifecycle of an asset.
Assets are subject to deterioration mechanisms and potential damage throughout their service life. To ensure that the required reliability, availability and safety is being delivered within acceptable cost, we need to understand the deterioration mechanisms the assets will be exposed to and their effects (risk), to be able to find the most effective maintenance task for this asset in the current circumstances.
This entails identifying the deterioration mechanisms, determining their failure rates, risk criteria and the extent, frequency, and methodologies for maintaining the assets.
This intensive Workshop introduces the Risk Based Maintenance (RBM) methodology that enables the assessment of the likelihood and potential risk of asset failures.
RBM provides organizations the opportunity to prioritize their assets for maintenance, optimize maintenance methods, frequencies and resources, develop specific long-term maintenance plans and integrate it with current methodologies like Failure Mode Effect & Criticality Analysis (FMECA), Risk Based Inspection (RBI) and Potential Failure Analysis (PFA) as well as the maintenance workflow.
This results in improved safety, lower failure risks, fewer forced shutdowns and reduced operational costs. Thus, maintenance adds value to the organization.
This program is designed to advance IAM courses objectives.
You might be interested in another Asset Management programs as a next step.
YOU WILL LEARN HOW TO
You will learn how to apply this systematic and integrated use of expertise from the different disciplines that impact plant integrity. We will discuss several examples of industry-wide RBM projects, their successes and failures and how to learn from it.
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 of 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 critical performance indicators drive continuous improvement
Practice applying a standard process for preventive maintenance optimization
Select the optimal plan for renewal or disposal based on asset management strategy
IMPORTANT COURSE INFORMATION
Training is recognized by the IAM – Institute of Asset Management as an approved provider of continuing education and training aligned with crucial subject areas related to asset management.
Participants who fully attend this course and complete the test on the last day will receive a Strategic Axis Professional Certificate (SAPC). SAPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.
COURSE OUTLINE
The Business Impact of Maintenance
Asset Management as a framework to realize value from assets
Cost-benefit Decisions: The Right Amount of Maintenance
The Maintenance Reference Plan
Deterioration of Assets – Basic Failure Behaviour of Assets and Systems
Understanding Risk: A Key Driver for Preventive Maintenance
The Seven Steps of Risk-Based Maintenance: Integration of Failure Mode Effect & Criticality Analysis (FMECA)
Failure Patterns & Weibull Distribution
Determine Maintenance Tasks and Frequencies
The Business Impact of Maintenance
Asset Management as a framework to realize value from assets
Cost-benefit Decisions: The Right Amount of Maintenance
The Maintenance Reference Plan
Deterioration of Assets – Basic Failure Behaviour of Assets and Systems
Understanding Risk: A Key Driver for Preventive Maintenance
The Seven Steps of Risk-Based Maintenance: Integration of Failure Mode Effect & Criticality Analysis (FMECA)
Failure Patterns & Weibull Distribution
Determine Maintenance Tasks and Frequencies
Module 2: Implementation Aspects
Using Decision Support Tools to Optimize Maintenance Tasks & Frequencies
Alternative Tasks for Specific Equipment
Inspection & Testing
Condition Monitoring
Implementing Predictive Maintenance Technologies
Implementation Aspects and Integration of Maintenance Workflow Management and other methodologies like Risk Based Inspection (API 580) and Potential Failure Analysis (PFA)
Monitoring Performance
Action Plan to Implement RBM
