Elements and Performance Criteria
- Monitor assets
- Develop a monitoring program for individual assets within an asset class.
- Prepare a scope of works and specification and issue a work order for the monitoring.
- Receive and analyse the monitoring data and close out the work order.
- Determine thelikelihood of failure of the individual assets and record the asset condition and likelihood of failure in the company’s asset management system.
- Adjust the frequency of the monitoring of the individual assets within the asset class based on conditions of the assets and where applicable recommend a course of action for the individual assets.
- Maintain assets
- Determine the maintenance requirements for individual assets within an asset class.
- Prepare a maintenance program and specification and issue a work order for the maintenance.
- Assess the maintenance completion report and the recording of maintenance in company’s asset management system and close out the work order.
- Repair assets
- Determine the repair requirements for individual assets within an asset class.
- Identify the materials, resources and equipment required to undertake the repair and issue a work order for the repair.
- Assess the repair completion report and the recording of the repair in the company’s asset management system and close out the work order.
- Replace assets
- Determine the need for replacement for individual assets within an asset class.
- Estimate the cost of the replacement and obtain approval to proceed.
- Prepare an asset replacement plan and specification for a particular item of asset and issue a work order for the replacement.
- Assess the replacement report and the recording of the repair in the company’s asset management system and close out the work order.
- Record assets
- Identify and record specific details of an individual asset within an asset class.
- Assess whether the asset is recorded correctly in the company’s asset management system.
- Identify missing asset details, search company archives for the missing information and where necessary arrange for field survey to provide the missing information.
- Value assets
- Determine the condition of an individual assetwithin an asset class using information from the asset management system.
- Determine the residual life of the individual asset using the manufacturer’s specifications, the risk management policies of the company and the known condition of the asset.
- Calculate the current and replacement value of the asset using information from the estimating system.