WM9Q2-15 Asset Management and Sustainability
Introductory description
Excellent organizations plan and manage asset strategy to align effectively with their overall strategic aims, accounting for current and future needs of the organization, the community and the environment. They are also clear on benefits Industry 4.0 (and Quality 4.0) can bring and utilise these appropriately and effectively in Asset Management (AM) strategies. Students will learn how effective organizations manage their assets, both physical and knowledge based, by participating in interactive lectures and also in groupwork using business simulations. External experts are invited to present on the module illuminating the students on practical application of contemporary Asset Management and Knowledge Management (KM) approaches. Particular emphasis is put upon those experts adding reflections on sustainability within their sessions.
Students will draw upon the learning from previous core modules thereby increasing their understanding of the interdependencies related to this Asset Management approaches, and how these managed in excellent organisations.
Module aims
This module aims to enable participants to develop their ability to apply asset and knowledge management theory and good practices. It draws upon the EFQM 2025 for best practice here. At the end of this module students will be able to:
Identify and analyse opportunities to improve the management of an organization’s KBAM resources in support of an organization’s policy and strategy, taking into account sustainability within this aim.
Create an implementation plan that would deliver the identified opportunities.
Outline syllabus
This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.
This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.
Concepts of resource and asset management.
Overview of knowledge management in engineering asset management context.
Engineering asset management methodologies.
Maintenance strategies.
Life cycle costing.
Application on Quality 4.0 to support excellence in asset management practice
Learning outcomes
By the end of the module, students should be able to:
- Analyse opportunities to improve the management of an organizations Knowledge based Asset Management in pursuit of excellence in policy and strategy.
- Create a business plan that would deliver opportunities identified in studies in the areas of KBAM & Sustainability
- Critically review as a team how advances associated with Quality 4.0 and Asset Management standards can lead a company to a new level of sustainable excellence in knowledge and asset management
Indicative reading list
Knowledge Asset Management; Gregoris Mentzas 2003
Reliability centred maintenance; John Moubray 1997
Physical Asset Management with an introduction to ISO55000; Nigel Hastings 1015
Trends for adopting Industry 4.0 for asset lifecycle management for sustainability; Sachini Weerasekara 2022
Knowledge Management in innovative companies; Pierre Saulais 2020
View reading list on Talis Aspire
Subject specific skills
Understand the concepts of engineering asset management and its benefits, Understand the concepts of
knowledge management and its impact on asset management, Understand the methods to identify and
analyse opportunities to improve asset management, Understand the benefits of waste minimisation and
recycling to asset management, Understand the benefits of supply chain and logistic optimisation to asset
management
Transferable skills
Communication, critical thinking, working with others, problem solving, information literacy,
numeracy, digital literacy, ethical values, intercultural awareness, professionalism, organizational
awareness
Study time
| Type | Required |
|---|---|
| Lectures | 20 sessions of 1 hour (13%) |
| Seminars | 10 sessions of 1 hour (7%) |
| Online learning (independent) | 30 sessions of 1 hour (20%) |
| Private study | 30 hours (20%) |
| Assessment | 60 hours (40%) |
| Total | 150 hours |
Private study description
Directed private study as rolled out on Moodle
Costs
No further costs have been identified for this module.
You must pass all assessment components to pass the module.
Assessment group A
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
Assessment component |
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| Create an Asset management plan for excellence | 80% | 48 hours | Yes (extension) |
|
Given a chosen industry the students create a plan to deliver excellence in Asset Management & Sustainability. Provide guidance on how the company can build a knowledge management system to support the implementation plan that you recommended. |
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Reassessment component is the same |
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Assessment component |
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| Team Review of business case | 20% | 12 hours | No |
|
Students are allocated to Teams and research given topics pertinent to Asset Management, which they then apply to a business case for presentation. This is subject to peer review. |
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Reassessment component |
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| Students reflection on presentations | Yes (extension) | ||
|
Student reflective on the study and recommendations/justifications pertinent to the set group presentation topic. |
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Feedback on assessment
Assignment feedback report and annotated script
Courses
This module is Core for:
- Year 1 of TWMS-H1S9 Postgraduate Taught Management for Business Excellence (Full-time)