Methods, tools, skills, and processes for optimizing
cost, risk, performance, and sustainability
Participants will learn how to make decisions under great uncertainty, handle trade-offs and make a business case for risk-based asset interventions. Very importantly, it also tackles the psychological aspects of decision-makers and stakeholders, to ensure that correct understanding and consensus is achieved about the best value options.
What are asset management decisions?
Essential elements of a Decision-Making Framework
Best practices research and case studies
Different methods for different types of decision
The people dimension
Students will understand the factors, processes, and governance needed to ensure that asset management decisions are made in a robust and consistent way, appropriate to the organization and based on value-for-money. They will recognize the opportunities, constraints, information requirements, and consensus-building skills needed to establish a decision-making framework in their own organization. And they will recognize, and be able to explain, the scale of business benefits that are available from improving asset management decision-making.
This course includes leading-edge research into best practices in asset management decision-making. It will teach participants how to correctly handle risk and uncertainty, how to quantify the value of ‘intangibles’ such as reputation and sustainability, how to handle trade-offs, and find the optimal timing for asset interventions (e.g. inspections, maintenance, shutdowns, or capital investments). It will also show how different methods and tools for decision support are suited to different types of decisions, with different levels of complexity and criticality.
This course is applicable to:
Although no pre-qualification is required, a degree-level or HND qualification is recommended.
1 Day / Class size 15
1 Day Inhouse
Tailored to Organisation