Fundamentals of Asset Management: PAS 55 and ISO 55000 Standards, Processes and Implementation Guidance

Start Date End Date Venue Fees (US $)
17 May 2026 Riyadh, KSA $ 3,900 Register
06 Sept 2026 Dubai, UAE $ 3,900 Register
06 Dec 2026 Istanbul, Turkey $ 4,500 Register

Fundamentals of Asset Management: PAS 55 and ISO 55000 Standards, Processes and Implementation Guidance

Introduction

The asset management of physical assets like chemical plants, power distribution networks, rolling stock, offshore platforms, roads, waterways, buildings, etc. is critical to the economy of many countries. How we manage physical determines the efficiency of companies and how competitive we are in the world market. Much money is spent annually on maintaining and developing the asset base and providing services to improve asset management has become a major competitive market internationally. Asset Management has been increasingly recognized as the key to improved investment decision making across all sectors, from Oil & Gas, Defence, Aerospace, Manufacturing, Public Transport, and Electricity and Water Production & Distribution. Many of them are required by regulators to draw up and present asset management plans.

This training course aims to support this drive to improve management practices by presenting standards, methodologies, and guidance on how to set up good asset management. The course shows the delegate how the international standards on Asset Management, the Publicly Available Specification PAS 55 and the ISO 55000, can be used to implement the best practices in order to realize higher performance at lower costs within compliance. The course finalizes with an assessment of the current state of your Asset Management processes and results.

Objectives

    • To provide a step-by-step guide to Asset Management best practices (as part of PAS 55 and ISO 55000), starting with foundations and building up to best practices that will deliver maximum business benefits
    • To provide an appreciation of PAS 55 and ISO 55000
    • To instruct Asset Management optimization best practice methodologies and technologies
    • To provide opportunities to discuss and learn the practical application of these best practices, through case studies and exercises
    • To provide insight into the current state of Asset Management best practices within the delegates company

Training Methodology

This is an interactive course. There will be open question and answer sessions, regular group exercises and activities, videos, case studies, and presentations on best practices. Participants will have the opportunity to share with the facilitator and other participants on what works well and not so well for them, as well as work on issues from their own organizations. The online course is conducted online using MS-Teams/ClickMeeting.

Who Should Attend?

The training course will benefit all professionals involved in managing or participating in asset management processes, incl. all staff in Asset Department, IT Department, Operation Department, and Finance Department.

Course Outline

Day 1: Introduction to Asset Management & Strategy Framework

  • Introduction to program
  • Introduction delegates
  • PRE-test
  • Asset & maintenance management as a business process
  • Asset management process model – The Asset Management System
  • Strategy framework
  • line of sight
  • asset management policy, asset strategy, asset management strategy
  • asset management objectives (goal setting)
  • asset management plan
  • feedback & improvement

Day 2: Asset Management roles + standards on Asset Management (PAS 55 + ISO 55000)

  • Introduction
  • Asset Management roles
  • Sourcing & outsourcing
  • Stakeholder management
  • BSI-PAS 55:2008 - a proven standard for Asset Management
  • ISO 550000 – the new international standard on Asset Management
  • Certification procedure   

Day 3: Good Asset Management Practice – Part 1

  • Introduction
  • Demand forecasting
  • Level of service and performance measures
  • Defining the right key performance indicators
  • Capacity or utilization monitoring
  • Condition assessment and monitoring
  • Information & configuration management
  • Vendor management & past performance
  • Asset procurement

Day 4: Good Asset Management Practice – Part 2

  • Introduction
  • Risk management
  • Risk-Based Maintenance concepts (RBM)
  • Life Cycle Costing (LCC)

Day 5: Assessment & Implementation Aspects

  • Introduction
  • Asset Management assessment
  • Asset Management teams
  • Changing the behavior of people
  • Implementation of Asset Management – case study
  • Wrap-up

Accreditation

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