Life Cycle Cost Analysis & Asset Management: Maximize Infrastructure Value

Introduction:

Life Cycle Cost Analysis (LCCA) and effective Asset Management are essential for optimizing infrastructure investments and maintenance strategies. This course equips senior engineers and asset managers with the specialized knowledge and skills to evaluate long-term costs and performance of infrastructure assets. Participants will learn how to apply LCCA principles, utilize asset management systems, and develop data-driven maintenance plans. This course bridges the gap between traditional asset management and strategic, cost-effective decision-making, empowering professionals to maximize infrastructure value and ensure long-term sustainability.

Target Audience:

This course is designed for senior engineers, asset managers, and infrastructure planners involved in the management and maintenance of infrastructure assets, including:

• Asset Managers
• Maintenance Engineers
• Infrastructure Planners
• Project Managers
• Civil Engineers
• Government Infrastructure Officials
• Consultants in Asset Management

Course Objectives:

Upon completion of this Life Cycle Cost Analysis and Asset Management course, participants will be able to:

• Understand the principles and applications of Life Cycle Cost Analysis (LCCA).
• Utilize asset management systems (AMS) for infrastructure planning and maintenance.
• Develop data-driven maintenance strategies based on asset condition and performance.
• Conduct economic evaluations of infrastructure investments.
• Understand the role of risk assessment in asset management.
• Implement strategies for extending asset service life and reducing maintenance costs.
• Utilize data analytics and predictive modeling for asset performance forecasting.
• Understand the importance of data quality and integrity in asset management.
• Implement strategies for optimizing asset replacement and rehabilitation decisions.
• Understand the role of sustainability in asset management.
• Enhance their ability to conduct LCCA and implement effective asset management strategies.
• Improve their organization's infrastructure asset management efficiency and effectiveness.
• Contribute to improved infrastructure performance and cost savings.
• Stay up-to-date with the latest trends and best practices in LCCA and asset management.
• Become a more knowledgeable and effective asset management professional.
• Understand ethical considerations in infrastructure asset management.
• Learn how to use LCCA and AMS software and tools effectively.

Duration

5 Days

Course Content

Module 1: Foundations of Life Cycle Cost Analysis (LCCA)

• Understanding the principles and importance of LCCA in infrastructure management.
• Defining life cycle costs and their components (initial costs, maintenance, rehabilitation, disposal).
• Understanding the time value of money and discounting techniques.
• Setting up the LCCA framework and defining analysis parameters.
• Understanding the role of LCCA in decision-making.

Module 2: Asset Management Systems (AMS) and Data Management

• Overview of asset management systems and their functionalities.
• Implementing data collection and management strategies for asset information.
• Understanding data quality and integrity in AMS.
• Utilizing GIS and spatial data for asset mapping and analysis.
• Understanding data integration and interoperability.

Module 3: Asset Condition Assessment and Performance Monitoring

• Implementing condition assessment techniques (visual inspection, NDT, sensor data).
• Developing performance indicators and condition indices.
• Utilizing data analytics for asset performance monitoring and evaluation.
• Understanding the role of predictive modeling in asset management.
• Setting up performance thresholds and triggers.

Module 4: Maintenance Strategies and Optimization

• Developing preventive, corrective, and predictive maintenance strategies.
• Utilizing maintenance optimization models and algorithms.
• Understanding the impact of maintenance on asset life cycle costs.
• Implementing reliability-centered maintenance (RCM) principles.
• Optimizing maintenance schedules and resource allocation.

Module 5: Economic Evaluation of Infrastructure Investments

• Conducting cost-benefit analysis (CBA) for infrastructure projects.
• Evaluating alternative investment options using LCCA.
• Understanding the role of risk assessment in economic evaluation.
• Analyzing the impact of inflation and interest rates on project costs.
• Understanding the concept of return on investment (ROI).

Module 6: Asset Replacement and Rehabilitation Decisions

• Developing strategies for asset replacement and rehabilitation.
• Utilizing LCCA for comparing replacement and rehabilitation options.
• Understanding the impact of technological advancements on replacement decisions.
• Implementing asset renewal strategies based on condition and performance.
• Understanding the importance of timing within replacement and rehabilitation.

Module 7: Risk Assessment and Management in Asset Management

• Identifying and assessing risks associated with infrastructure assets.
• Developing risk mitigation strategies and contingency plans.
• Utilizing risk assessment tools and techniques.
• Understanding the impact of uncertainties on asset life cycle costs.
• Implementing risk monitoring and reporting mechanisms.

Module 8: Sustainability and Environmental Considerations in Asset Management

• Integrating sustainability principles into asset management practices.
• Utilizing life cycle assessment (LCA) for evaluating environmental impacts.
• Implementing strategies for reducing energy consumption and greenhouse gas emissions.
• Understanding the role of green infrastructure and sustainable materials.
• Understanding relevant environmental regulations and standards.

Module 9: Implementation and Future Trends in Asset Management

• Developing implementation plans for asset management strategies.
• Addressing the challenges of integrating LCCA and AMS into existing systems.
• Exploring emerging technologies in asset management (AI, IoT, digital twins).
• Understanding the impact of big data and cloud computing on asset management.
• Developing a roadmap for continuous improvement in asset management capabilities.

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world.

The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 5 working days before commencement of the training.