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.
