Asset Management for Engineers Unit 10: Asset Life Extension, Renewal, Decommissioning and Disposal
This unit has been designed to develop your understanding of the management of assets as they approach the end of their useful life, exploring options for renewal, life extension or disposal.
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The Woodhouse Partnership Ltd (TWPL) is a world-leading authority on asset management, risk management, operational excellence, life-cycle costing, risk and performance optimisation.
TWPL has led and facilitated the development of BSI PAS 55 and ISO 55000 standards, the IAM Competency Requirements Framework and Asset Management Maturity guidance.
TWPL operates on a global basis with its head office based near Newbury, Berkshire in the UK with regional offices in North America and Latin America and has been providing education, training and workplace mentoring in asset management for 20 years in 28 countries and most industry sectors.
TWPL’s own Asset Management Academy offers asset management training to individuals and corporate clients at all levels of asset management expertise. The training portfolio includes courses that are aligned to ISO 55000 and the IAMs Competences Framework.
TWPL was one of the first Asset Management training organiSations to be endorsed by the Institute of Asset Management for professional Asset Management competency development.
• Have an appreciation of the challenges of managing aging assets.
• Understand how to evaluate alternative options for asset life extension, renewal, decommissioning and disposal.
• Understand how condition assessment and asset capability are used in determining and prioritising intervention programmes for aging assets.
• Understand how life cycle costing is applied in supporting decision-making for evaluating options.
• Understand the issues associated with disposal and how they are managed.
Typical roles in an organisation include:
· Engineering and technical managers
· Project managers and engineers
· Operations managers and staff
· Maintenance managers and staff