Overview

This interactive course will provide attendees with the knowledge and skills needed to use APM’s Asset Strategy Optimization (ASO) module to improve their strategies. ASO extends the analytical capabilities of the Asset Strategy Management (ASM) module. Attendees will learn how to refine their existing strategies to better meet stated business objectives by simulating changes in actions to lower costs without significantly impacting risk

Audience

This class is designed for:

• Individuals involved in developing, managing, and implementing asset strategies
• End Users
• Functional Consultantse
• Reliability Engineers

Pre-requisites

• 4206 Getting Started with APM Strategy

When you complete this course, you will be able to:

• Explain the purpose and benefits of a strategy and an Asset Strategy Optimization (ASO) analysis.
• Define risks and actions in a strategy.
• Sequence the steps of both the Asset Strategy Management (ASM) and the ASO workflows.
• Define the components of an ASO analysis and an ASO analysis scenario.
• Describe the default scenarios of an ASO analysis.
• Identify the components of a scenario and the purpose of each.
• Identify planned and unplanned resources for each risk and resources for each action in an ASO analysis scenario.
• Define the types of actions available in an ASO analysis.
• Identify the key factors that affect a Monte Carlo simulation.
• Given Monte Carlo simulation results generated by the ASO module, identify Time to Failure (TTF) and Time to Repair (TTR).
• Explain the purpose and benefits of Global Events.
• Create Global Events that will maximize availability of the asset or system.
• Explain when and how an ASO analysis is synchronized with ASM.
• Identify and propose the scenario to manage an asset.

Duration

• 8 hours

Delivery Format

• Instructor-led Classroom
• Virtual Classroom
• Onsite