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Risk-Based Asset Management

Next Course Offering Dates:

November 10-12, 2020 - Online

June 8-10, 2021 - In-person (Subject to change to online depending on covid-19 status)



Explore how to improve asset availability and meet reliability goals by applying a risk-based approach to asset maintenance and operations. In the Risk-Based Asset Management (RBAM®) course, you practice how to prioritize reliability efforts on critical equipment and failures that impact your operation. RBAM incorporates reliability-centered maintenance (RCM) principles and continuous improvement practices like PDCA to position your program for decreased downtime, lower maintenance expenditures, and an acceptable total cost of ownership.

During the course, participants classify and analyze assets and failures to rank equipment criticality and draft a risk plan. Next, learners build a failure mode and effects analysis (FMEA) to define control strategies and populate an equipment maintenance plan. Group activities in the class include examining how life cycle cost influences investment and choosing key performance indicators to manage a reliability program. Specific emphasis will be placed on the resources needed to create an asset management plan - a risk, maintenance and asset operations plan – that can manage the entire life cycle of an asset.

Learn How To

  1. Draft components of an asset management plan: risk and maintenance plan
  2. Describe what an asset management organization needs to know to manage risk and improve performance
  3. Describe the four phases in a risk-based asset management model
  4. List ways to extend the life of assets and evaluate their effectiveness
  5. Use a failure mode and effects analysis (FMEA) to analyze risks and map control strategies to failure modes
  6. Describe how audits, reviews and key performance indicators drive continuous improvement
  7. Practice applying a standard process for preventive maintenance optimization
  8. Select the optimal strategy for renewal or disposal based on asset management strategy

Who Should Attend

This is ideal for people responsible for the design, installation, commissioning, operation and maintenance of capital assets and auxiliary equipment. This includes project engineers, reliability engineers, maintenance managers, operations managers, and engineering technicians.

All students completing the class will receive a certificate of completion including the awarding CEU credits.



This course is provided online. Click Here to learn more!

2021 In-person class will beheld at room #245 Bevis Hall, 1080 Carmack Rd, Columbus, OH 43210