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Through case studies this course illustrates the state-of-art implementation approach of an asset management plan. The course includes the best practices. It provides an opportunity for power plant management professionals to gain in-depth knowledge...

Course Outline

After participating in the course, you will be able to:
• Become knowledgeable in methods to calculate rate equipment, risk cost, do priority programming, perform economic evaluation and develop short and long-range plans with limited funds  
• Apply available tools and techniques to support your asset management activities
• Develop asset management implementation plan appropriate to your organization
• Provide better guidelines to policy making and apply on your projects best practices of asset management principles and concepts
• Create condition indices and risk matrices for major asset classes
• Defend your equipment replacement or refurbishment plans
• Provide support for your preventive maintenance plans to reduce risk


Aging equipment, budget constraints and the growth in energy demand make it necessary that as an essential part of the power plant business strategy, equipment and other assets are kept in good condition for optimum levels of performance.  Without an asset management system (AMS), it is difficult to keep track of the tremendous number of a power plant’s assets and virtually impossible to maintain an up–to-date evaluation of equipment condition. Asset management is not only the knowledge of where assets are but also the desired level of reliability that is achieved through the assessment of asset condition and risk. Increase in reliability can justify capital and maintenance expenditures. The repair, refurbish or replace equipment decision becomes defensible resulting in restoring equipment performance and reduce unscheduled shutdowns. A carefully executed and monitored asset management program is necessary not only for large, fully-integrated utilities but also for regional and municipal utilities.

Through case studies this course illustrates the state-of-art implementation approach of an asset management plan. The course includes the best practices. It provides an opportunity for power plant management professionals to gain in-depth knowledge for managing their assets while keeping up optimal performance over asset’s life cycle.


To provide skills for enhancing return on power plant assets by effective management.

Who Should Attend

Utility asset managers, utility engineers, first line managers, technicians, technologists and analysts from government organizations,  consulting companies, policy advisers and individuals from utilities responsible for design, inspection, operation, maintenance and renewal of power plant assets.  The course will be of significant benefit to those with some asset management experience who manage or provide critical information to senior managers, who have direct responsibility for meeting system performance, budget planning, project delivery targets and who are looking to update or brush up on asset management skills by taking new challenges to broaden their knowledge. Participants will advance their career in the emerging field of power plant asset management.

Program Outline

Faculty: Wayne Todd, P.Eng.

Day 1

8:00      Welcome, Introduction, Course Preview, Learning Outcomes and the Assessment Methods

8:30    Asset Management System (AMS) in Power Plants
            • What is AMS?
            • Equipment focused  
            • Function focused  
            • How it is used for repair, refurbish or replace decision?
            • How it is used for enhancing reliability?
            • Building blocks of asset management

            Benefits of asset management towards efficiency
            • One size does not fit all, AMS must be custom-made based on methodologies, techniques and resources that are consistent 
               with the prevailing conditions and constraints of power plants
            • AM as philosophy
            • AM as a process: authority/ accountability profiling, coordination, decision integration
            • AM as a set of tools: prediction, risk analysis, valuation, priority setting, trade-off analysis
            • Musts and shoulds of AMS
10:00    Refreshments and Networking

10:20    Knowledge About Assets
            • Asset inventory?
            • Asset classification systems
            • Format for managing inventory of assets
            • Long-term degradation of assets

12:00   Lunch

1:00     Evaluate Equipment Condition
            • Equipment Condition Survey
            • Condition parameters score
            • Condition parameters factors
            • Condition grades, condition criteria
            • Equipment Condition Index Formulation – weighting and
            • Scoring
            • Equipment condition index

2:00     Establishing Consequences and Cost of Failure
            • Risk matrix
            • Risk assessment and modeling
            • Risk management
            • Risk cost
            • Cost benefit analysis

2:00     Use of Condition Index and Risk Evaluation for Replacement or Maintenance Decision
            • Field auditing of asset condition
            • Estimating probability of failure 
            • Equipment Condition Index
            • Determining effective age
            • Calculating remaining life
            • Comparing maintenance or replacement cost
            • Maintenance scheduling and planning
            • Incorporating preventive maintenance into AMS process
            • Performance prediction based on action strategy

3:00     Refreshments and Networking

3:20     Dealing with Defects
            • Failure modes and criticality
            • Protocols for facility condition assessment
            • Impact of condition on performance of assets
            • Establishing condition parameters and condition parameter factors
            • Condition ratings: Facility Condition Index (FCI), other tools and indicators
            • Adding available condition data

4:30    Adjournment 

Day II

8:30     Investment and Financial Aspects 
            • Life cycle costing (LCC) 
            • Optimal replacement timing and capital plan
            • Power plant assets backlog and other issues 
            • Resource planning, financing and options 
            • Overriding corporate and financial issues

9:40    Refreshments and Networking

10:00    Asset Valuation and Business Model
            • Asset valuation models: generators, transformers, switchyards, cables, distribution system, substations, fleet 
            • Review of reporting mechanisms 
            • Potential cost and benefits of an asset management system
            • Key performance indicators
            • Planning indices
            • Investment levels for each asset category
            • Optimizing risk vs. investment across  different asset categories

11:20   Asset Management Optimization and Other Factors 
            • Owner’s vs user’s perspective: a multi objective Optimization Approach
            • Which equipment is vulnerable?
            • Power plant security 
            • Impact of prime movers and fuel on power plant
            •  Investments integration
            • Short-term and long-term plans
            • Change adaptation in power plants

12:00    Lunch

1:00     Decision Making 
            • Logic behind failure, options and actions 
            • Assigning a priority ranking Number (RPN)
            •  Human factors in decision making
            • Action planning: driving factors, motivational factors, other influences
            • Decision model and analysis
            • Checklist – what to consider, and what not?

2:20      Refreshments and Networking

2:40     How to Choose Your Asset Management System?
            • State-of-art practice tools and techniques 
            • Standalone systems and integrated systems
            • Issues of consistency
            •  Evaluation process and module based examples 
            • Comparative statements, features and benefits
            • Selecting and customizing AMS software for a well-managed AMS
            • Maintaining an AMS

3:30      Discussion Forum
              Questions and Answers
              Feedback to participants on Achievement of Learning Outcomes

4:00      Concluding Remarks and Final Adjournment

Wayne Todd
Wayne Todd, P.Eng., originally graduating as a Mechanical Technologist from Ryerson became an engineer after doing a Bachelor's degree from Ryerson and passing the registration exams with the Ontario Professional Engineers Ontario in 1985. His experience includes maintenance planning, project management, site management, and field engineering in the electric utility industry.   Other areas of experience include supporting the implementation of ISO 9000 and 14001 management systems, business process improvement delivered that resulted in significant tangible savings in the millions of dollars and improved the sustainability of the business by raising compliance performance.
Prerequisites & Certificates

Certificates offered

1.2 CEU / 12 PDH

Cancellation Policy
To withdraw from a course, you must send a request, in writing, with the official receipt to our office. Fifteen or more business days in advance: full refund less $50.00 administration charge. Five to fifteen business days in advance: non-refundable credit of equal value for any future EPIC seminar within one year. Credits are transferable within your organization. In case of an unexpected event occurring after this time, you may send someone else to take your place without any additional cost.
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Here are some reviews of the training vendor.
The course was very well presented and the course instructor was absolutely amazing.
Reviewed by 2013
Our instructor, Stephen Lamming, was outstanding and a true expert in his field. He was able to complement the technical air monitoring information with practical real life examples which was highly beneficial. He is an excellent communicator and was highly interactive with the course attendees. This course was recommended to me because Stephen Lamming does an outstanding job. I was very impressed with this course and have subsequently recommended it to my colleagues.
Reviewed by 2012
Would have liked more interactive problem solving.
Reviewed by 2011

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