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Asset Lifecycle & Lifecycle Cost Management course hero image
Reliability
Engineering
Asset Management

Asset Lifecycle & Lifecycle Cost Management

Session Details

Khobar

USD 4,560

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Overview

The current economic climate focused on productivity and cost cutting which has followed our recent boom time has resulted in a unique situation. There are significant amounts of new assets still being deployed, together with pressures to extend the life of ageing equipment. This has sparked a renewed interest in productivity and operational readiness initiatives based on a more thorough assessment of equipment health and integrity

Learning Objectives

Learn how to develop and maintain effective asset management plans to take control of asset life events Apply the most appropriate analysis and modelling methodologies to present life cycle forecasts, maintenance activity selection and optimal life determination Master the process of developing effective zero based budgets, focused on reliability improvement of critical equipment Ability to align the focus to be applied to new assets in support of operational readiness as opposed to ageing assets Realize the importance of master data to support life cycle management and continual improvement

WHO SHOULD ATTEND?

Asset Managers & Engineers

Maintenance & Reliability Professionals

Project Managers & Capital Planners

Finance & Cost Analysts

Facilities, Infrastructure & Operations Managers

COURSE METHADOLOGY

BK Management Team believe that learning is not only about acquiring technical skills, but also about learning behaviors & Competencies that are desirable for work in plant operation & maintenance critical dimensions. Our holistic teaching develops our delegates' personal effectiveness to function both as an individual and as a team player. The course delivery & modes of instruction will incorporate theory, practical skills and Q&A sessions. To enhance learning outcomes, theory sessions will comprise classroom-based lecture that will intersperse with interactive discussions, scenario-based, case-study, group exercises, video clips, power point slides, learners' Guide and the application of various tools which will be provided to help in the delegates and participants of the learning’s objectives. With successful implementation of the learnt skills, they are bound to enhance Individual & Organizational growth. For online / Interactive Virtual sessions, Delegate should have a stable & good Internet connection on his laptop

Course Outline

Module 1:

Introduction to Asset Lifecycle Management (ALM)

  • What is Asset Lifecycle Management?

  • Lifecycle stages: Concept → Design → Acquire → Operate → Maintain → Dispose

  • Key principles of ISO 55000 and PAS 55

  • Role of ALM in reliability, safety, and cost optimization

Module 2:

Asset Lifecycle Phases & Decisions

  • Planning and acquisition phase:

    • Investment justification

    • Design for reliability, maintainability, and sustainability

  • Operation & maintenance phase:

    • Asset performance monitoring

    • Maintenance strategies (RCM, TPM, CBM)

  • Decommissioning and disposal:

    • Risk, compliance, and sustainability considerations

End-of-life planning

Module 3:

Introduction to Lifecycle Costing (LCC)

  • Definition and objectives of LCC

  • LCC vs. traditional budgeting

  • Components of total lifecycle cost:

    • CAPEX (Capital Expenditure)

    • OPEX (Operational Expenditure)

    • Risk-related costs

    • End-of-life & disposal costs

Module 4:

LCC Methodology and Tools

  • Steps in conducting a lifecycle cost analysis

  • Time value of money:

    • Net Present Value (NPV)

    • Internal Rate of Return (IRR)

    • Discounted cash flows

  • Sensitivity analysis and risk-adjusted costing

  • Overview of LCC software tools and templates

Module 5:

Data Requirements for Lifecycle Costing

  • Data sources: historical cost data, OEM manuals, maintenance records

  • Cost modeling techniques

  • Uncertainty, inflation, and obsolescence management

  • Asset registers and condition data

Module 6:

Integrating LCC into Asset Management Decisions

  • Using LCC to support:

    • Asset investment planning

    • Asset renewal vs. replacement decisions

    • Maintenance optimization

  • Business case development using LCC outputs

  • Stakeholder alignment and communication of LCC findings

Module 7:

Practical Applications & Case Studies

  • Case study: Capital project selection using LCC

  • Case study: Replace vs. repair decision modeling

  • Group exercise: LCC calculation and scenario analysis

Common pitfalls and real-world examples of cost overruns

Module 8:

Governance, Standards & Sustainability

  • ISO 55000 and asset management principles

  • ESG and sustainability considerations in LCC

  • Total Cost of Ownership (TCO) vs. LCC

  • Audit and compliance requirements

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