Municipalities, government agencies and their consultants are under increasing pressure to establish life cycle cost analysis tools and asset management strategies. The selection of the best materials, construction or rehabilitation techniques require knowledge of the factors that impact their life cycle performance. Effective asset management programs must be based on sound baseline information and how the assets perform in the short and long-term. This will ensure that available financial resources will be applied to critical assets at the optimal time.
The Life Cycle Cost Analysis and Asset Management course provides in-depth knowledge of the essentials processes and techniques required to perform life cycle cost analyses and establish an asset management program.
The course will give the infrastructure professional a comprehensive knowledge and skills relating to:
- Planning strategies
- Definition and determination of acceptable levels of service
- Deterioration models
- Performance monitoring
- Economics analyses
- Business process modelling
Key benefits to the student:
Completion of the Life Cycle Cost Analysis and Asset Management course will allow the student to:
- Develop a knowledge of the fundamentals of Life Cycle Cost Analysis
- Develop a knowledge of the essentials of sound asset management practice
- Identify assets where remedial work is necessary to ensure long term performance at or above prescribed levels of service.
- Attain professional training credits.
Key benefits to the employer:
- More knowledgeable and competent staff (HQP), equipped to develope defensible long-term operation and maintenance strategies.
- More knowledgeable and competent staff (HQP), capable of evaluating or implementing competent infrastructure asset management programs.
- Understanding of impact of asset deterioration and failure mechanisms
- Better understanding of investment requirements, ROI, and value of Life Cycle Cost Analysis
- Reduced risks associated with asset failures
- Employee training credits that meet or exceed legislated requirements.
Who should apply?
The epCIP Life Cycle Cost Analysis and Asset Management course is designed for engineers, technologists, technicians and others who have a background or working experience and desire to increase their knowledge of asset management technologies through a university level course.