Risk Assessment of Assets

We regret to inform you that there are currently no scheduled sessions for this course, so please let us know your preferred date and location and we will contact you soon.

Course Introduction

This course provides an explanation of the underlying concepts of the Risk Based Maintenance approach, guidance on its relationship and integration within asset management and the overall risk management process. This course will show delegates how to develop an action plan for implementation into an effective and cost-efficient maintenance strategy.

Risk-Based Maintenance improves maintenance decision-making by introducing risk data and analysis into asset & maintenance management processes. In this way an organization systematically optimizes maintenance, associated spares and supply-chain management processes. By providing an objective approach to selecting an appropriate maintenance strategy, and establishing priorities for focusing resources where they deliver the greatest bottom-line performance and safety benefits.

This course will feature:

  • Introduction to risk, risk management, risk management standard ISO31000 and the integration within asset management processes
  • Prioritizing risk, quantitative and qualitative risk assessment methodologies
  • Continuous improvement and contingency planning
  • Risk based maintenance (RBM) concepts for assets – asset related risk
  • Optimizing the maintenance concept & implementation aspects

Objectives

By the end of this course, participants will be able to:

  • Understand the concepts & practical application of risk management & the Risk-based Maintenance (RBM) approach
  • Learn the potential contribution of RBM to maintenance efficiency and performance
  • Understand how RBM interacts within asset management
  • Apply RBM and related technologies so as to achieve the best results
  • Develop an action plan to utilize risk management & RBM in their own areas of responsibility

Training Methodology

This course will utilize a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes formal lectures and interactive exercises. Relevant case studies will be provided to illustrate the application of each subject in an operations environment. Each learning point will be re-enforced with practical exercises. There will be many opportunities for discussion and sharing experiences.

Who Should Attend?

This course is suitable to a wide range of professionals but specifically designed for those professionals who want to understand, implement and improve themselves on risk management in a maintenance environment, judge its suitability for their needs, and learn how to implement RBM for the benefit of their organizations.

This course is suitable to a wide range of technical professionals but will greatly benefit:

  • Asset Management Coordinators
  • Asset Management Consultants
  • Production or Operations Managers
  • Maintenance & Engineering Managers
  • Maintenance & Reliability Engineers
  • Those assigned in New Project Design

Course Outline

Day 1: Day One

An Overview of Risk Management

  • Challenging the traditional approaches to maintenance
  • Definitions of key terms & risk principles
  • Risk in Asset Management (ISO55000 series)
  • Risk Framework (ISO31000)
  • Case study: Importance of risk assessment & risk management (video)

Day 2: Day Two

Risk Management Process & methods

  • Linkage between Corporate risk and Asset related risk
  • The steps involved in managing risk
  • Risk assessment, risk register & hazard log
  • Criticality analysis
  • Best practices: RCM, HAZOP, FMECA & FRACAS
  • Contingency planning

Day 3: Day Three

Risk Management Best Practice: Maintenance Concepts with RBM (Part 1)

  • Failure behavior & probability
  • Availability & Reliability concepts
  • Maintenance concept & the seven steps of Risk Based Maintenance (RBM)
  • Failure Mode Effect & Criticality Analysis (FMECA)
  • Group Exercise

Day 4: Day Four

Risk Management Best Practice: Maintenance Concepts with RBM (Part 2)

  • Maintenance concept: the seven steps of RBM (continued)
  • Failure patterns
  • Determine maintenance tasks and frequencies
  • Exercise
  • Risk Based Inspection(RBI) & specific aspects for typical equipment

Day 5: Day Five

Optimizing Performance and Case study

  • Using decision support tools to optimize maintenance concepts
  • Case study package distribution system
  • Monitoring performance – setting up relevant performance indicators for RBM
  • Implementation aspects & pitfalls of the RBM approach
  • Implementation plan
  • Wrap-up

Certificate

  • Copex Certificate of Attendance will be provided to delegates who attend and complete the course.

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Whats Makes Copex Courses Unique?

COPEX Training is your gateway to professional growth, with over 20 years of experience turning potential into success. Each year, we deliver over 1,000 courses in 50+ countries, earning a stellar 98% satisfaction rate. Trusted by global giants like BP, the United Nations, and HSBC, we partner with top certification bodies to provide career-focused training that empowers individuals and drives organizational breakthroughs. Our mission? To transform the way professionals learn and grow in today’s fast-changing industries. Through expert insights, cutting-edge methods, and hands-on approaches, we equip you with the skills and confidence to tackle challenges, seize opportunities, and thrive in your career.

Led by a passionate leadership team and supported by a network of world-class trainers, COPEX Training connects professionals worldwide with life-changing opportunities. We are committed to excellence, ensuring every participant leaves with the tools, expertise, and confidence to conquer an ever-evolving world.

Frequently Asked Questions

This FAQ section provides quick answers to the most common questions about our services, procedures, and policies. We aim to make your experience with us as straightforward as possible. For further assistance, our support team is ready to help.

Yes, and we'd love to make that happen. COPEX  specialises in fully customised in-house training, adapting course content to align with your organisation's unique goals, culture, and industry demands. Get in touch with us directly and we'll craft the right solution for your team.

Yes, the choice is yours. The Risk Assessment of Assets Training Course  runs in a traditional classroom setting across various international locations, and it's also available as a live online programme for those who prefer to learn from wherever they are. Pick the format that fits your lifestyle and schedule best.

Not at all. The Risk Assessment of Assets Training Course doors are open to everyone, regardless of your background or how many years you've been in the industry. That said, having some familiarity with the subject area can help you get even more out of the experience.

Our team is available around the clock — 24 hours a day, 7 days a week — ready to answer any question you have. Whether you need help choosing the right course, completing your registration, or sorting out logistics, we're here for you.

Expect an engaging, hands-on journey — not a room full of slides and passive listening. COPEX’s delivery blends presentations with group discussions, real-world case studies, practical exercises, and collaborative workshops. The goal is simple: everything you learn, you can use immediately back at work.

You'll be in good hands. COPEX hosts its courses in premium 4-star and 5-star hotels, with professional, fully equipped training spaces designed for focus and comfort. Throughout each day, you'll enjoy refreshment breaks with coffee and snacks, plus a complimentary lunch following every session.

This Risk Assessment of Assets Training Course welcomes professionals from all walks of corporate life — whether you're a seasoned manager, an emerging team leader, a subject-matter specialist, or simply someone driven to grow in their field. If you're serious about advancing your career and deepening your expertise, this course was built with you in mind.

Absolutely. Every participant who successfully completes the Risk Assessment of Assets Training Course earns an COPEX Certificate of Completion — a recognised mark of professional achievement. Depending on the specific course, it may also qualify for Training credits, which will be clearly noted in the course details.

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At Copex Training, we offer customizable courses designed to fit your specific needs. whether it's refining procurement practices or enhancing leadership and management skills, we tailor our programs to meet your unique goals and challenges. Let us create a training solution that delivers real results for your team.