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Best Practices for Asset Management

Dates & Locations

Overview

Asset demographics are not always a solid indicator of true asset condition. Internal stakeholders and regulators require documented justification for expenditures. This course will provide Utility Engineers and Line Management Personnel with the knowledge, skills and process to perform Asset Condition Assessment (ACA) and Risk Assessment (RA) to justify capital and maintenance expenditures to internal and external decision makers. Only a legitimate health-indexing process can lead to the accurate determination of an optimal timing and cost-benefit ratio. Kinectrics’ proven methodology is fully compliant with the Gold Standard of Asset Management Programs outlined in BSI PAS 55 and is used by numerous, large, fully-integrated utilities as well as regional and municipal utilities.

Download Course Outline

Course Outline

​

Introduction – What is Asset Management?

  • Asset Management Overview
  • Equipment Focused and Business Planning Focused Asset Management
  • Kinectrics’ Expertise

Equipment Focused Asset Management

Module 1 – Definitions and Overall ACA Process

  • Health Index
  • Condition Parameters
  • Condition Parameters Score
  • Condition Parameters Factors
  • Condition Grades
  • Condition Criteria
  • ACA Process Steps

Module 2 – Identifying and Prioritizing Asset Groups

  • Identifying Asset Populations
  • Prioritizing Asset Groups
  • Selecting Assets for Condition Assessment

Module 3 – Condition Data and Criteria

  • Establishing Condition Parameters and Condition Parameter Factors
  • Identifying Condition Data Requirements
  • Collecting Available Condition Data
  • Selecting Sample Size

Module 4 – Formulating and Computing Health Indices

  • Health Index Formulation – Weighting and Scoring
  • Health Indexing for Replacement or Maintenance
  • Field Auditing of Asset Condition

Module 5 – Determining Remaining Life

  • Estimating Probability of Failure from Health Index
  • Determining Effective Age
  • Calculating Remaining Life

Module 6 – Optimal Economic Life

  • Establishing Consequences and Cost of Failure
  • Risk Matrix
  • Risk Cost
  • Cost Benefit Analysis

Module 7 – Capital & Maintenance Plans

  • Optimal Replacement Timing and Capital Plan
  • Maintenance Scheduling and Plan
  • Overriding Corporate and Financial Issues

Module 8 - IFRS

  • International Financial Reporting Standard
  • Better Alignment of Accounting Life with Actual Physical Life of Assets
  • Asset Categories
  • Asset Components

Module 9 – Investments Prioritization

  • Business Values
  • Key Performance Indicators
  • Prioritizing Programs
  • Prioritizing Projects

Module 10 – Performance Metrics

  • What is Performance Metrics

Module 11 – Asset Management Plan

  • Plan Components
  • Typical Investment Buckets

Module 12 – Publicly Available Specification 55 (PAS 55)

  • What is PAS 55
  • PAS Certification

Who Should Attend

​This course is designed for:

  • Utility Asset Managers
  • Utility Engineers
  • First Line Management

Key Benefits

Course participants gain valuable knowledge and learn to:

  • Apply Kinectrics’ ACA, RA & BA to a utility
  • Create Health Indices and Risk Matrices for major asset classes
  • Develop defensible Capital and Maintenance Plans

Instructors

  • Stephen Cress P.Eng


    Stephen Cress is the Manager of Kinectrics’ Transmission & Distribution Departments. He is an authority and recognized expert in arc hazard analysis and a co-developer of the ARCPRO™ software application.​

  • Yury Tsimberg P.Eng


    Yury Tsimberg is a Director of Asset Management at Kinectrics Inc. He has managed the development and implementation of a number of Asset Management tools and is a recognized expert in the application of Asset Management techniques and methodologies to utility business practices.​

Contact Training


Training Locations

  • Toronto

    800 Kipling Ave., Unit 2
    Toronto, Ontario, M8Z 5G5

    Map


    416-207-6000

    416-207-6532


  • Pickering

    940 Brock Road, Unit 11
    Pickering, Ontario, L1W 2A1

    Map


    905-420-4242

    905-420-4125


  • Cincinnati

    7251 E. Kemper Road,
    Cincinnati, Ohio, 45249

    Map


    513-247-9039



Module 12 – Publicly Available Specification 55 (PAS 55)

  • What is PAS 55
  • PAS Certification

Module 11 – Asset Management Plan

  • Plan Components
  • Typical Investment Buckets

Module 10 – Performance Metrics

  • What is Performance Metrics

Module 9 – Investments Prioritization

  • Business Values
  • Key Performance Indicators
  • Prioritizing Programs
  • Prioritizing Projects

Module 8 - IFRS

  • International Financial Reporting Standard
  • Better Alignment of Accounting Life with Actual Physical Life of Assets
  • Asset Categories
  • Asset Components

Module 7 – Capital & Maintenance Plans

  • Optimal Replacement Timing and Capital Plan
  • Maintenance Scheduling and Plan
  • Overriding Corporate and Financial Issues

Module 6 – Optimal Economic Life

  • Establishing Consequences and Cost of Failure
  • Risk Matrix
  • Risk Cost
  • Cost Benefit Analysis

Module 5 – Determining Remaining Life

  • Estimating Probability of Failure from Health Index
  • Determining Effective Age
  • Calculating Remaining Life

Module 4 – Formulating and Computing Health Indices

  • Health Index Formulation – Weighting and Scoring
  • Health Indexing for Replacement or Maintenance
  • Field Auditing of Asset Condition

Module 3 – Condition Data and Criteria

  • Establishing Condition Parameters and Condition Parameter Factors
  • Identifying Condition Data Requirements
  • Collecting Available Condition Data
  • Selecting Sample Size

Module 2 – Identifying and Prioritizing Asset Groups

  • Identifying Asset Populations
  • Prioritizing Asset Groups
  • Selecting Assets for Condition Assessment

Module 1 – Definitions and Overall ACA Process

  • Health Index
  • Condition Parameters
  • Condition Parameters Score
  • Condition Parameters Factors
  • Condition Grades
  • Condition Criteria
  • ACA Process Steps

Equipment Focused Asset Management

Introduction – What is Asset Management?

  • Asset Management Overview
  • Equipment Focused and Business Planning Focused Asset Management
  • Kinectrics’ Expertise
 

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