After participating in the course, you will be able to:

  • Describe the basic principles of asset management
  • Answer the six core questions about your assets
  • Apply available tools and techniques to support your asset management program
  • Develop an asset management implementation plan appropriate to your organization
  • Provide better guidelines for policy making and apply best practices of asset management principles and concepts

Description
Infrastructure Asset Management (IAM) is a strategic approach to managing physical public infrastructure. Two major issues involved are the deterioration of infrastructure and growth in demand for service. This course covers the fundamental principles of asset management and revisits the six core questions every organization should be able to answer about their assets.

This course also illustrates the state-of-art implementation approach of an asset management plan to attain sustainability. This course is aligned with the International Infrastructure Management Manual (IIMM), National Research Council (NRC) research modules, ISO 55000 and other initiatives and best practices from around the world. It provides an opportunity for public infrastructure management professionals to gain in-depth asset management knowledge while keeping up optimal performance over the asset’s life cycle.

Week 1: Asset Management Principles and Strategic Development

Infrastructure Asset Management and Sustainability – An Overview

  • What is asset management?
  • Industry standards and other initiatives
  • Development of an asset management plan
  • Sustainability and asset management

Asset Management Evolution - Province of Ontario

  • Infrastructure for Jobs and Prosperity Act
  • New asset management regulations

Asset Information and Data Requirements

  • Asset inventory
  • Asset classification systems
  • Asset data formats
  • Data gap analysis

Asset Management Body of Knowledge (AMBOK)

  • Concepts and ideas
  • Knowledge modules and application guidelines
  • How knowledge modules work together?
  • Outline of an asset management plan
  • Best practice asset management plan

Week 2: Asset Management Organizational Stewardship

  • Organizational and Cultural Stewardship Need Assessment
    • Systems thinking,
    • Training needs assessment,
    • Customer-supplier relationships,
  • Change management,
  • Project management,

Week 3: Data Analytics and Data Management

Data Gathering

  • Why asset condition is important?
  • Asset deterioration and defect diagnosis
  • Condition rating systems
  • Service life of assets
  • Asset performance evaluation

Data Management and Reporting Tools:

  • Data Management Tools
    • CMMS
    • InfoMasters
    • Data Base
    • Xls files
  • Review of reporting tools (GASB, PSAB, PAS 55 etc.)

Week 4: Asset Financial Planning

Risk Analysis

  • Identify the service or asset at risk
  • Risk assessment and modeling
  • Asset risk management
  • Develop a risk action plan

Levels of Services (LOS)

  • Define LOS?
  • How to determine LOS?
  • Key Performance Indicators (KPI)
  • Benchmarking of assets

Infrastructure Economics

  • Infrastructure backlog and funding mechanisms
  • Resource planning, financing and funding options
  • Social costs and considerations
  • Life cycle costing (LCC)
  • Asset valuation
  • Asset valuation models: roads/pavements, bridges/culverts, water/wastewater and other asset specifics
  • Capital Investment Planning (Rehabilitation versus Growth or Both?)

Week 5: How to put it Together

Asset Management Optimization

  • Owner’s vs user’s perspective: a multi-objective optimization approach
  • Asset optimization parameters
  • Infrastructure security
  • Infrastructure vulnerability and resilience

Setting Strategic direction for Asset Management

  • Define scope of asset management program
  • Asset management policy development
  • Governance
  • Asset management leadership and teams

Action Plans and Decision Making

  • Logic behind failure: options and actions
  • Asset prioritization in decision making process
  • Decision model and analysis
  • Action planning

Asset Management Business Plan

  • Development of an asset management business plan
  • Revisit asset management plan and implementation strategy
  • Checklist: What to consider? And what not?

 

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