Risk-Based Asset Management


Learn to create a strategy for implementing a successful asset management program. Discover how to reduce risk and achieve the greatest asset utilization at the lowest total cost of ownership.

This course is part of the REC and MMC certification programs.


Risk-Based Asset Management Training
Explore how to improve asset availability and meet reliability goals by applying a risk-based approach to asset maintenance and operations. In the Risk-Based Asset Management (RBAM) course, you practice how to prioritize reliability efforts on critical equipment and failures that impact your operation. RBAM incorporates reliability-centered maintenance (RCM) principles and continuous improvement practices like PDCA to position your program for decreased downtime, lower maintenance expenditures, and an acceptable total cost of ownership.

During the course, participants classify and analyze assets and failures to rank equipment criticality and draft a risk plan. Next, learners build a failure mode and effects analysis (FMEA) to define control strategies and populate an equipment maintenance plan. Group activities in the class include examining how life cycle cost influences investment and choosing key performance indicators to manage a reliability program. Specific emphasis will be placed on the resources needed to create an asset management plan – a risk, maintenance, and asset operations plan – that can manage the entire life cycle of an asset.

Learn How To

  • Draft components of an asset management plan: risk and maintenance plan
  • Describe what an asset management organization needs to know to manage risk and improve performance
  • Describe the four phases in a risk-based asset management model
  • List ways to extend the life of assets and evaluate their effectiveness
  • Use a failure mode and effects analysis (FMEA) to analyze risks and map control strategies to failure modes
  • Describe how audits, reviews, and key performance indicators drive continuous improvement
  • Practice applying a standard process for preventive maintenance optimization
  • Select the optimal strategy for renewal or disposal based on asset management strategy


Who Should Attend
This is ideal for people responsible for the design, installation, commissioning, operation, and maintenance of capital assets and auxiliary equipment. This includes:
Project Engineers
Reliability Engineers
Maintenance Managers
Operations Managers
Engineering Technicians


Download and Share the Course Brochure Here:

Risk-Based Asset Management Brochure

Additional information

Additional Information

Each course includes a comprehensive active learning manual, morning and afternoon refreshments, lunch, and the use of a fully equipped e-business center. Class hours are 8:30am to 4:30pm Tuesday through Thursday. Virtual course hours run from 11am-5pm EST. All students completing a class at the Life Cycle Institute will receive a certificate of completion awarding 2.1 CEUs.

Your training needs are unique. Unique needs may require on-site training, tailored for your environment, at a time convenient for you. For more information please contact the Life Cycle Institute Team at education@LCE.com.

Course Locations

Life Cycle Institute – Charleston
4360 Corporate Road
Charleston, SC 29405
Directions – https://class-directions.s3.us-east-1.amazonaws.com/Charleston.pdf

The Ohio State University College of Engineering
356A Bevis Hall,
1080 Carmack Road
Columbus, OH 43210
Directions – https://class-directions.s3.us-east-1.amazonaws.com/Ohio.pdf

Clemson University
Center for Corporate Learning
One N. Main Street
Greenville, SC 29601
Directions – https://class-directions.s3.us-east-1.amazonaws.com/Clemson.pdf

The University of Kansas
Edwards Campus
Regnier Hall, 12610 Quivira Road
Overland Park, KS 66213
Directions – https://class-directions.s3.us-east-1.amazonaws.com/Kansas.pdf

Washington State University – Everett
915 N. Broadway
Everett, WA 98201
Directions – https://class-directions.s3.us-east-1.amazonaws.com/Washington.pdf

Course Brochure

For an easy to share PDF of this course click the link – https://lci-marketing-materials.s3.us-east-1.amazonaws.com/RBAM-Brochure.pdf