Introduction

Lifecycle Asset Management (LCAM) is a strategic approach to maximizing the value and performance of assets throughout their lifespan—from acquisition and operation to maintenance and disposal. This 5-day advanced training course equips participants with the tools, methodologies, and best practices to develop and implement robust asset management strategies. By addressing the challenges of modern asset management, the course emphasizes sustainability, digital transformation, and cost optimization to ensure long-term organizational success.

Objectives

By the end of this course, participants will:

1. Understand the principles of Lifecycle Asset Management and their application in facilities and operations.
2. Learn how to assess, plan, and optimize asset performance across all lifecycle stages.
3. Explore technologies such as CMMS, EAM (Enterprise Asset Management), and IoT for asset tracking and decision-making.
4. Gain insights into integrating sustainability and resilience into asset management strategies.
5. Develop a framework to manage risks, reduce costs, and extend asset lifespans.

Who Should Attend?

This course is designed for:

• Facilities Managers and Operations Managers.
• Asset Managers and Maintenance Engineers.
• Corporate Real Estate and Infrastructure Professionals.
• Risk Managers and Sustainability Managers.
• Professionals involved in capital planning and lifecycle cost analysis.

Course Outline

Day 1: Fundamentals of Lifecycle Asset Management

• Introduction to LCAM
  • Key principles and stages of the asset lifecycle.
  • The importance of a proactive approach to asset management.
• Asset Identification and Classification
  • Defining critical assets and their roles in operations.
  • Prioritizing assets based on criticality and value.
• Workshop: Mapping the lifecycle stages of assets in a sample organization.

Day 2: Planning and Acquisition of Assets

• Strategic Asset Planning
  • Aligning asset strategies with organizational goals.
  • Forecasting asset needs and budgeting for acquisitions.
• Procurement and Capital Investment
  • Evaluating total cost of ownership (TCO) and lifecycle costs.
  • Balancing initial costs with long-term performance and sustainability.
• Interactive Session: Developing a capital investment plan for asset acquisition.

Day 3: Operation and Maintenance of Assets

• Optimizing Asset Performance
  • Implementing preventive, predictive, and reliability-centered maintenance.
  • Leveraging key performance indicators (KPIs) for asset monitoring.
• Technology in Asset Management
  • Using CMMS and EAM systems for asset tracking and optimization.
  • IoT and AI applications in predictive maintenance.
• Case Study: Implementing a predictive maintenance strategy using IoT-enabled assets.

Day 4: Asset Sustainability, Resilience, and Disposal

• Sustainability in Asset Management
  • Integrating energy efficiency and green practices into asset operations.
  • Extending asset lifespans through refurbishing and repurposing.
• Resilience Planning
  • Preparing for climate, operational, and market risks affecting assets.
  • Strategies to ensure continuity and adaptability.
• Disposal and Decommissioning
  • Responsible disposal and compliance with environmental standards.
  • Calculating residual value and optimizing end-of-life strategies.
• Workshop: Developing a sustainable and resilient asset management plan.

Day 5: Future-Proofing Asset Management Strategies

• Trends and Innovations in LCAM
  • Digital twins, AI-driven insights, and autonomous asset management.
  • The impact of smart buildings and urbanization on asset management.
• Lifecycle Cost Analysis and Risk Management
  • Conducting lifecycle cost analysis to support decision-making.
  • Identifying and mitigating risks across the asset lifecycle.
• Conclusion and Certification.