Apprenticeship training course

Asset manager (level 4)

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Information about Asset manager (level 4)

Work in a range of industries that manage physical assets.

• Knowledge, skills and behaviours:
  View knowledge, skills and behaviours

  Knowledge

  • Asset management standards: ISO55000, British Standard Institute (BSI) Publicly Available Specification (PAS) 55.
  • Management systems for asset management: policy, strategy, objectives, plans and continual improvement.
  • Impact of organisational context on asset management: regulatory frameworks, stakeholders, governance and asset management policy, objectives strategy and plan.
  • Different types of assets and classification approaches; hierarchy, function and value.
  • Asset systems; effect of each asset on the system and impact of external factors.
  • Asset/system service and performance requirements; service level.
  • Continuous improvement techniques.
  • Asset costing and valuation techniques; cost estimation (maintenance, operation, renewal), depreciation, whole life costing, and social, environmental, safety and reputational cost.
  • Optioneering, cost benefit analysis; asset management multi-criteria decision making (cost, risk, performance, sustainability, compliance and intangibles).
  • Creative thinking and problem-solving techniques.
  • Asset life cycle activities: demand analysis and future requirements, creation and acquisition or rationalisation, operation, resilience, redundancy, shutdown, obsolescence, outage management, future asset capability.
  • Performance monitoring of asset life cycle activities.
  • Asset and asset systems health, condition and performance assessment methods.
  • Project management, resource and time management techniques.
  • Types of asset maintenance: preventive, predictive, corrective.
  • Risk management and its application to asset management: risk assessment, quantification, mitigation and impact.
  • Techniques to assess asset risk; causes and effects: Failure Mode Event/Effects Critically Analysis (FMEA/FMECA), Root cause analysis and Bow Tie analysis.
  • Legislation: Health and Safety at Work, Environmental Protection.
  • Sustainable development; impact on environment of asset management and asset management activities.
  • Supply chain; types of suppliers, their role and contractual relationships.
  • Collaborative working techniques: personality types, influencing, negotiating, networking, and equality, diversity and inclusion.
  • Communication techniques including plain English – verbal, written and presentation.
  • Business ethics including corporate governance, bribery, discrimination, socially responsible organisations.
  • Data analysis and interpretation techniques; data presentation techniques (charts, diagrams and tables).
  • Information technology (IT) systems and processes: asset registers, work management systems, word processing, spreadsheets, email, presentation.
  • Information and data security/management requirements; cyber security, General Data Protection Regulations (GDPR), data protection and integrity.

  Skills

  • Identify the organisation’s context and constraints that affect asset management.
  • Identify asset service and performance requirements.
  • Estimate and calculate Life Cycle Cost (LCC) or Total Cost of Ownership (TCO) for assets/asset systems.
  • Use techniques to identify interventions for assets/asset system and estimate benefits.
  • Apply multi criteria decision making methods to proposed intervention options.
  • Select and use decision support tools to make asset management recommendations.
  • Develop asset life-cycle plans including performance monitoring and business case.
  • Classify assets, asset systems, life cycle stages and activities.
  • Plan and manage projects.
  • Assess asset health; condition and performance.
  • Select and apply fault finding technique(s) to identify causes and effects of assets/asset system failures.
  • Apply continuous improvement techniques.
  • Assess and quantify asset, asset system and asset management activity-related risks; identify mitigation options.
  • Comply with legislation, asset management standards and company policies.
  • Use information technology systems and processes: for example, asset registers, work management systems, word processing, spreadsheets, email, presentation.
  • Collate and analyse asset/asset system data and information.
  • Interpret and present data - qualitative and/or quantitative.
  • Communicate with colleagues and stakeholders – verbal, written and presentation.

  Behaviours

  • Committed to compliance with legislation, asset management standards and company policies.
  • Focusses on value and outcomes in alignment with organisational objectives and stakeholders’ expectations.
  • Collaborates, within teams and across disciplines.
  • Shares knowledge and good practice, gives and receives feedback, help and support.
  • Adaptable for example, seeks new ways of working.
  • Reliable and self-motivated, takes responsibility for work and seeks to deliver against personal objectives.
  • Committed to continued professional development.
• Apprenticeship category (sector): Engineering and manufacturing
• Qualification level: 4; Equal to higher national certificate (HNC)
• Course duration: 18 months
• Maximum funding: £9,000 ; Maximum government funding for ; apprenticeship training and assessment costs.
• Job titles include:
  • Acquistion and disposal manager
  • Asset and insight manager
  • Asset manager
  • Asset resilience manager
  • Assistant asset manager
  • Associate asset manager
  • Infrastructure asset manager

View more information about Asset manager (level 4) from the Institute for Apprenticeships and Technical Education.