The Asset Life Cycle Optimization and Maintenance Training Course, delivered by Oxford Training Centre under the Power Systems & Maintenance Training Courses category, equips professionals with the practical and strategic skills required to effectively manage physical assets across all stages of their life cycle. This course is designed to enhance the participant’s ability to plan, operate, maintain, and dispose of assets in a cost-effective and sustainable manner.
Through real-world scenarios and best-practice methodologies, this course covers critical aspects of Asset Life Cycle and Maintenance, including life cycle costing, risk-based decision-making, predictive maintenance, and ISO 55000 standards. Participants will gain the skills to evaluate and optimise the performance, reliability, and cost-efficiency of assets to meet business and operational objectives.
Course Objective and Target Group
Course Objective
The core objective of this course is to provide participants with a deep and applicable understanding of Asset Management, Lifecycle Costs, and optimisation strategies. It enables professionals to make informed decisions throughout the life of an asset, ensuring operational excellence, regulatory compliance, cost efficiency, and risk minimisation.
The course will:
- Provide tools and frameworks for evaluating total lifecycle costs.
- Teach how to optimise asset design, acquisition, utilisation, and disposal.
- Introduce best practices for Asset Life Cycle and Maintenance planning.
- Explore the role of digital tools and predictive analytics in asset optimisation.
- Link asset strategies to business performance, sustainability, and safety.
Target Group
This course is ideally suited for:
- Maintenance and reliability engineers
- Asset and facilities managers
- Project managers and planners
- Utility engineers and plant managers
- Engineering consultants
- Procurement and operations specialists
- Anyone responsible for capital asset management, acquisition, or operation
Course Content
Module 1: Introduction to Asset Life Cycle and Maintenance
- Overview of asset-intensive industries and the importance of asset management
- Key definitions: asset types, life cycle stages, and maintenance philosophies
- Introduction to ISO 55000 standards for Asset Management
- Case studies of successful life cycle planning and failure recovery
Module 2: Asset Life Cycle Strategy and Planning
- Defining asset strategies from acquisition to decommissioning
- Stakeholder roles in asset life cycle management
- Long-term capital investment planning and integration with business goals
- Lifecycle stages: design, acquisition, commissioning, operation, and retirement
Module 3: Life Cycle Costing (LCC) and Economic Evaluation
- Introduction to Life Cycle Costing (LCC): definition and methodology
- Key cost categories: capital, operational, maintenance, and disposal
- Evaluating trade-offs: reliability vs cost, maintenance vs replacement
- Application of Net Present Value (NPV), Return on Investment (ROI), and risk analysis
- Tools and templates for life cycle cost assessments
Module 4: Maintenance Strategy Optimisation
- Types of maintenance: reactive, preventive, predictive, and condition-based
- Reliability-centred maintenance (RCM) and Total Productive Maintenance (TPM)
- Asset Criticality Analysis and Failure Modes and Effects Analysis (FMEA)
- Maintenance planning, scheduling, and execution management
- Computerised Maintenance Management Systems (CMMS) and emerging technologies
Module 5: Risk Management and Performance Monitoring
- Identifying and mitigating risks across the asset life cycle
- Performance indicators: availability, reliability, maintainability, and safety (RAMS)
- Setting KPIs and aligning them with corporate strategy
- Decision-making under uncertainty: risk matrices and scenario planning
Module 6: Digital Tools for Asset Optimisation
- Introduction to digital twins and their role in asset modelling
- Predictive analytics, condition monitoring, and Internet of Things (IoT)
- Data governance, quality, and decision-making integration
- Case examples of technology-enhanced Asset Life Cycle and Maintenance systems
Module 7: Environmental and Sustainability Considerations
- Environmental performance and life cycle impact assessment (LCA)
- Complying with ISO 14040/44 for environmental lifecycle evaluations
- Integrating sustainability into asset planning and investment decisions
- Green maintenance strategies and energy efficiency
Module 8: Practical Application and Final Project
- Hands-on group exercises and scenario-based decision making
- Life cycle cost analysis project for a real or simulated asset
- Presentation of findings and strategic asset management plans
- Feedback and final evaluation
Learning Outcomes
By the end of this course, participants will be able to:
- Analyse asset performance and evaluate improvement opportunities
- Apply Asset Management, Lifecycle Costs analysis in decision-making
- Design and implement optimal maintenance strategies
- Align asset management practices with business objectives and compliance standards
- Improve sustainability and reduce operational risk through informed planning
Course Methodology
This course combines instructor-led presentations, real-world case studies, group discussions, simulation exercises, and hands-on tools. All sessions are led by industry experts with extensive experience in asset management and maintenance.
Certification
Upon successful completion, participants will receive a Certificate of Completion from Oxford Training Centre. This course may also contribute towards Continuing Professional Development (CPD) hours.