This six-hour dive into Asset Management, specifically the Strategic Asset Management Plan (SAMP) is designed to be a fun and informative look at what it takes to establish a successful and forward-thinking strategy towards all vital equipment and, as importantly, get the necessary and needed stakeholders to be fired up about it. With their newly found passion and energy, stakeholders are more likely to stay within the ‘lines’ of the plan, contribute to its execution, measure the effectiveness of the SAMP and suggest ideas to make improvements as time goes by. Generating ideas is seldom ever an organization’s problem. Consistently executing the plan, year in and year out, is another issue altogether.

Participants in this workshop will gain practical and ready-to-use knowledge through six specific learning objectives:

• Design, Build, and Install for the highest level of inherent reliability
• Translating organizational objectives into Strategic Asset Management Plans (also referred to as: Asset Reference Plan)
• The value of knowing an asset’s Life Cycle and Life Cycle Cost
• Establishing the necessary ‘control activities,’ or the stuff we actually do (Preventive, Predictive maintenance)
• Determining spare part requirements
• Auditing the SAMP
• Evaluating performance
• Continuous Improvement

ISO 55000 states that the SAMP ‘shall’ be in alignment with the organizational objectives. There isn’t a lot of wiggle room to get out from under a ‘shall’ directive. Unfortunately, high-level organizational objectives are often written in corporate ‘speak’ and are hard to translate into exact maintenance activities. This workshop offers a crash course in translating abilities.

An asset’s location on its Life Cycle helps to determine if the equipment has enough value left to be of value to the company. Clearly, some assets have left companies feeling ‘nickel and dimed to death.’ Attendees will understand how to estimate Life Cycle Cost and value. The control activities are the actual maintenance actions taken by all maintenance organizations. In the scheme of things, a maintenance department has a finite number of activity types to bring to bear. This workshop will discuss each of them.

The workshop will conclude with an engaging discussion on the general review and audit practices around measuring the application of the plan and the measurements of its intended effects. From those effects, an organization will take action to either leverage positive outcomes or compensate with improvement actions for negative results. This is continuous improvement.

This workshop encapsulates almost the entirety of Asset Management, choosing to focus on the line from organizational objectives to continuous improvement by focusing on the Strategic Asset Management Plan.