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Asset manager

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K1: Asset management standards: ISO55000, British Standard Institute (BSI) Publicly Available Specification (PAS) 55. Back to Duty

K2: Management systems for asset management: policy, strategy, objectives, plans and continual improvement. Back to Duty

K3: Impact of organisational context on asset management: regulatory frameworks, stakeholders, governance and asset management policy, objectives strategy and plan. Back to Duty

K4: Different types of assets and classification approaches; hierarchy, function and value. Back to Duty

K5: Asset systems; effect of each asset on the system and impact of external factors. Back to Duty

K6: Asset/system service and performance requirements; service level. Back to Duty

K7: Continuous improvement techniques. Back to Duty

K8: Asset costing and valuation techniques; cost estimation (maintenance, operation, renewal), depreciation, whole life costing, and social, environmental, safety and reputational cost. Back to Duty

K9: Optioneering, cost benefit analysis; asset management multi-criteria decision making (cost, risk, performance, sustainability, compliance and intangibles). Back to Duty

K10: Creative thinking and problem-solving techniques. Back to Duty

K11: Asset life cycle activities: demand analysis and future requirements, creation and acquisition or rationalisation, operation, resilience, redundancy, shutdown, obsolescence, outage management, future asset capability. Back to Duty

K12: Performance monitoring of asset life cycle activities. Back to Duty

K13: Asset and asset systems health, condition and performance assessment methods. Back to Duty

K14: Project management, resource and time management techniques. Back to Duty

K15: Types of asset maintenance: preventive, predictive, corrective. Back to Duty

K16: Risk management and its application to asset management: risk assessment, quantification, mitigation and impact. Back to Duty

K17: Techniques to assess asset risk; causes and effects: Failure Mode Event/Effects Critically Analysis (FMEA/FMECA), Root cause analysis and Bow Tie analysis. Back to Duty

K18: Legislation: Health and Safety at Work, Environmental Protection. Back to Duty

K19: Sustainable development; impact on environment of asset management and asset management activities. Back to Duty

K20: Supply chain; types of suppliers, their role and contractual relationships. Back to Duty

K21: Collaborative working techniques: personality types, influencing, negotiating, networking, and equality, diversity and inclusion. Back to Duty

K22: Communication techniques including plain English – verbal, written and presentation. Back to Duty

K23: Business ethics including corporate governance, bribery, discrimination, socially responsible organisations. Back to Duty

K24: Data analysis and interpretation techniques; data presentation techniques (charts, diagrams and tables). Back to Duty

K25: Information technology (IT) systems and processes: asset registers, work management systems, word processing, spreadsheets, email, presentation. Back to Duty

K26: Information and data security/management requirements; cyber security, General Data Protection Regulations (GDPR), data protection and integrity. Back to Duty

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S1: Identify the organisation’s context and constraints that affect asset management. Back to Duty

S2: Identify asset service and performance requirements. Back to Duty

S3: Estimate and calculate Life Cycle Cost (LCC) or Total Cost of Ownership (TCO) for assets/asset systems. Back to Duty

S4: Use techniques to identify interventions for assets/asset system and estimate benefits. Back to Duty

S5: Apply multi criteria decision making methods to proposed intervention options. Back to Duty

S6: Select and use decision support tools to make asset management recommendations. Back to Duty

S7: Develop asset life-cycle plans including performance monitoring and business case. Back to Duty

S8: Classify assets, asset systems, life cycle stages and activities. Back to Duty

S9: Plan and manage projects. Back to Duty

S10: Assess asset health; condition and performance. Back to Duty

S11: Select and apply fault finding technique(s) to identify causes and effects of assets/asset system failures. Back to Duty

S12: Apply continuous improvement techniques. Back to Duty

S13: Assess and quantify asset, asset system and asset management activity-related risks; identify mitigation options. Back to Duty

S14: Comply with legislation, asset management standards and company policies. Back to Duty

S15: Use information technology systems and processes: for example, asset registers, work management systems, word processing, spreadsheets, email, presentation. Back to Duty

S16: Collate and analyse asset/asset system data and information. Back to Duty

S17: Interpret and present data – qualitative and/or quantitative. Back to Duty

S18: Communicate with colleagues and stakeholders – verbal, written and presentation. Back to Duty


B1: Committed to compliance with legislation, asset management standards and company policies. Back to Duty

B2: Focusses on value and outcomes in alignment with organisational objectives and stakeholders’ expectations. Back to Duty

B3: Collaborates, within teams and across disciplines. Back to Duty

B4: Shares knowledge and good practice, gives and receives feedback, help and support. Back to Duty

B5: Adaptable for example, seeks new ways of working. Back to Duty

B6: Reliable and self-motivated, takes responsibility for work and seeks to deliver against personal objectives. Back to Duty

B7: Committed to continued professional development. Back to Duty

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