Asset Management Audit & Benchmarking
Driving Asset Performance Through Audits, Benchmarks, and Strategic Insights
Course Schedule
| Date | Venue | Fees (Face-to-Face) |
|---|---|---|
| 01 – 05 Sep 2025 | Istanbul, Turkey | USD 3495 per delegate |
Course Introduction
Effective asset management is critical for optimizing performance, reducing costs, and maximizing the lifecycle value of physical assets. This course is designed to equip participants with practical knowledge and tools for conducting asset management audits and implementing benchmarking strategies that align with ISO 55000 standards and organizational objectives.
Through a structured and intensive program, participants will gain insight into performance indicators, audit frameworks, gap assessments, and industry benchmarking practices. Real-world case studies and hands-on exercises will provide the confidence and capability to drive continuous improvement in asset management systems.
Course Objectives
By the end of this course, participants will be able to:
- Understand the principles of asset management and the role of audits in improving performance.
- Conduct asset management system audits aligned with ISO 55001.
- Identify gaps and opportunities for enhancement through benchmarking.
- Utilize key performance indicators to measure and compare asset effectiveness.
- Interpret audit results and develop actionable improvement plans.
- Integrate audit and benchmark results into strategic asset management plans.
Key Benefits of Attending
- Improve decision-making with structured asset audit methodologies.
- Benchmark performance against global best practices.
- Enhance asset utilization and lifecycle cost management.
- Increase compliance with ISO 55001 and internal standards.
- Strengthen internal audit and assurance capabilities.
Intended Audience
This program is designed for:
- Asset management professionals and engineers
- Internal auditors and compliance officers
- Maintenance and operations managers
- Facility and plant managers
- Reliability engineers and technical consultants
- Anyone involved in ISO 55000 implementation or audit
Individual Benefits
Key competencies that will be developed include:
- Expertise in asset audit planning, execution, and reporting
- Interpretation and use of asset performance indicators
- Benchmarking against industry standards and peers
- Gap analysis and continuous improvement planning
- Stronger alignment with ISO 55000 asset management frameworks
Organization Benefits
Upon completing the training course, participants will demonstrate:
- Improved asset management maturity and audit readiness
- Enhanced visibility of asset performance and risks
- Increased organizational accountability and governance
- Better alignment of asset performance with strategic goals
- Adoption of international best practices for asset optimization
Instructional Methdology
The course follows a blended learning approach combining theory with practice:
● Strategy Briefings – Key principles of asset audits, benchmarking, and ISO 55000 frameworks
● Case Studies – Real-world examples of audit-driven improvements and asset benchmarking results
● Workshops – Practical exercises on conducting audits, setting KPIs, and analyzing performance gaps
● Peer Exchange – Group discussions on audit challenges, lessons learned, and benchmark comparisons
● Tools – Checklists, audit templates, KPI dashboards, and performance benchmarking models
Course Outline
Training Hours: 7:30 AM – 3:30 PM
Daily Format: 3–4 Learning Modules | Coffee Breaks: 09:30 & 11:15 | Lunch Buffet: 01:00 – 02:00
Day 1: Introduction to Asset Management and Auditing
Module 1: Fundamentals of Asset Management (07:30 – 09:30)
● Overview of ISO 55000 and asset management principles
● Objectives and scope of asset management systems
● Importance of lifecycle planning and value realization- Module 2: The Audit Framework (09:45 – 11:15)
● Types of audits: internal, external, compliance, performance
● Key audit components and phases
● Role of the auditor and audit preparation - Module 3: Understanding the ISO 55001 Requirements (11:30 – 01:00)
● Clause-by-clause breakdown of ISO 55001
● Mapping requirements to organizational practices
● Document control and evidence gathering - Module 4: Workshop – Setting Up an Audit Program (02:00 – 03:30)
● Designing an audit scope and checklist
● Identifying audit objectives and success criteria
● Developing an audit timeline and resource plan
Day 2: Audit Planning and Execution
- Module 1: Audit Planning Techniques (07:30 – 09:30)
● Risk-based audit planning
● Scheduling audits and resource allocation
● Communication plans and stakeholder engagement - Module 2: Audit Tools and Techniques (09:45 – 11:15)
● Interviews, observations, and document reviews
● Sampling methods and root cause analysis
● Using audit software and templates - Module 3: Workshop – Simulated Audit Interviews (11:30 – 01:00)
● Conducting mock audit interviews
● Recording and validating findings
● Preparing audit notes and supporting evidence - Module 4: Reporting and Communicating Audit Results (02:00 – 03:30)
● Structure and content of an audit report
● Presenting non-conformities and opportunities
● Communicating findings to top management
Day 3: Asset Performance Benchmarking
- Module 1: Introduction to Benchmarking (07:30 – 09:30)
● What is benchmarking and why it’s essential
● Types: internal, external, functional, and competitive
● Benchmarking process and success factors - Module 2: Defining Key Performance Indicators (09:45 – 11:15)
● Selecting relevant asset KPIs
● Metrics for cost, reliability, utilization, and availability
● Benchmarking KPI sources and databases - Module 3: Workshop – KPI Evaluation (11:30 – 01:00)
● Gathering and validating performance data
● Comparing against targets and industry norms
● Identifying gaps and improvement areas - Module 4: Benchmarking in Practice (02:00 – 03:30)
● Case study review of benchmarking implementation
● Interpreting benchmark outcomes
● Strategic planning using benchmark data
Day 4: Performance Improvement and Gap Closure
- Module 1: Root Cause Analysis and Action Planning (07:30 – 09:30)
● Identifying root causes of performance gaps
● Prioritizing corrective and preventive actions
● Risk-based improvement strategies - Module 2: Integration with Asset Management Plans (09:45 – 11:15)
● Aligning audits and benchmarks with AMP
● Setting improvement goals and tracking progress
● Building feedback loops for continuous improvement - Module 3: Workshop – Improvement Project Simulation (11:30 – 01:00)
● Developing an improvement project proposal
● Setting timelines, KPIs, and resources
● Evaluating success metrics - Module 4: Managing Change and Culture (02:00 – 03:30)
● Change management principles for audit implementation
● Building an audit culture across departments
● Training, communication, and leadership engagement
Day 5: Simulation, Wrap-Up, and Action Planning
- Module 1: Final Audit Simulation (07:30 – 09:30)
● End-to-end simulated audit process
● Assigning roles and evaluating outcomes
● Team debrief and improvement suggestions - Module 2: Final Benchmark Review (09:45 – 11:15)
● Reviewing benchmark progress across sample case
● Reporting dashboard and findings
● Integration with strategic objectives - Module 3: Final Team Presentations (11:30 – 01:00)
● Presenting audit and benchmark plans
● Peer feedback and best practice exchange
● Final summary and knowledge review - Module 4: Certification and Closing (02:00 – 03:30)
● Post-course assessment and feedback
● Certificate distribution
● Final Q&A and group networking
Certification
Participants will receive a Certificate of Completion in Asset Management Audit & Benchmarking, validating their knowledge and skills in auditing asset management systems and applying benchmarking techniques to drive strategic asset performance improvement.