Course Offered

Short Term Course on Advance Asset Management of Engineering Systems

In today’s highly competitive business environment, management of physical assets (their selection, maintenance, inspection and renewal) plays a key role in determining operational performance and profitability of any business unit, manufacturing plant or industry that operate assets as a part of their
core business. Asset Management, being the art and science of making right decisions and optimizing these processes, attempts to minimize the total life cost of assets and directly or indirectly influences
manufacturing/production/operation/service cost, processes and quality, and throughput or delivery time. There is particular interest in the application of asset management principles to the management of engineering systems in any industrial unit where the cost and performance of the assets are of major significance. Asset Management for any engineering system needs to focus on maintenance, renewal and enhancement activities, with an integrating mechanism
, on delivering sustainable outputs valued by customers and funding providers at the lowest whole-life cost emphasizing on creating knowledge of how assets degrade and fail to optimize maintenance and renewal interventions.

It is essential that industries across India, many organizations of which being asset-intensive, promote a consistent asset management approach to their infrastructures and systems in overall manufacturing, production and supply chain domain to develop their own methods, standards and framework for achieving excellence in business performance.

Although industries, in general, are aware of the potential of Asset Management for achieving excellent and all-out organizational performance, a well-trained group of personnel cutting across different functions and departments of any organization is a prime necessity in order to achieve the goal of Asset Management. ITResearch, being an internationally recognized Shor term technical
institution of India having a number of experts with proven knowledge, expertise, and research capabilities in the broad field of asset management, plans to organize a Short Term Course on ‘Advance Asset Management of Engineering Systems’ to provide industry professionals and researchers with valuable insights into several pertinent issues required for successful implementation of Asset Management framework at an organizational
Internationally acclaimed academics, researchers and practitioners with proven knowledge, experience, and demonstrable ability in teaching, consultancy, research, and training in the field of Asset Management will deliver lectures and discuss cases in the


  Objectives of the Course

The primary objectives of the course are as follows:

  1. Exposing participants to the fundamentals of asset management practices
  2. Building in confidence and capability amongst the participants in the application of asset management tools and techniques and mapping the organizational activities and problems in terms of Asset Management framework
  3. Providing exposure to practical problems and their solutions, through case studies and live projects in asset management
  4. Enhancing the capability of the participants to identify, control and remove asset management-related problems.
  Course Contents

The course will address the following main issues
i) Present industrial situations and relevance of Asset Management
ii) Theory and principles of Asset Management
iii) Asset Management methodology
iv) Tools and Techniques for Asset Management
v) Implementation Framework for Asset Management in an organization

The following specific topics will be covered in the course:
Pertinent Issues of Asset Management in Indian industries ,Life Cycle Cost Analysis for Asset Management, ISO 55000 Standards: Recent Trends in Asset Management, Failure Mode and Effects Analysis for Specific Assets, Application of Lean Engineering, Principles for Asset Management, Asset Design and Maintenance Issues

Course Schedule and Methods
11 am to 5 pm with 1-hour lunch break in each day. The methods consist of lecture sessions,
hands-on-exercises, discussions on cases, and live problems.


Executives, engineers and researchers from manufacturing, service and government organizations including R&D units research laboratories, and technical institutions.

Application and Fee 
The course fee is Rs. 20,000 per participant. Payment is to be made through bank draft drawn in favor of ‘Institute of Technology and Research’ payable at Bhubaneswar. The course fee includes course materials, working lunch, and tea/coffee during lecture schedules only. The interested applicants are requested to apply to one of the coordinators by filling in the Registration Form provided with this brochure.