AW010 Asset Management Decision Making

This module demonstrates how asset management decision making is crucial to the development of robust asset management plans.

It explains how all stages of the asset life cycle need to be modeled within a framework. The framework ensures a consistent approach to capital, operations and maintenance investment decision making. The module also demonstrates the importance of a resourcing strategy to ensure the delivery of the asset management plan.

Learning Outcomes

By completing the module, you’ll understand:

The importance of a robust decision making framework for asset intervention decisions and the optimisation of asset management plans
The principle concepts, processes and tools that support risk-based decision making
The role that effective life cycle costs and value realisation plays within this decision making framework
The role that optimised resource strategies can have in risk management and how they underpin the delivery of asset management plans.

Course Content

The asset management decision making module demonstrates:

That asset management is a cross disciplinary activity calling for expertise and knowledge from multiple sources
The decision making factors in capital investments, minor projects, operations and maintenance
The processes for optimising resource strategies
The process for optimising shutdown and outage strategies

Estimated Duration

20 mins in one session (or in small parts if preferred)