COURSE OVERVIEW

This practical and highly-interactive course includes various practical sessions and exercises. Theory learnt will be applied using our state-of-the-art simulators. 

 

This course is designed to provide participants with a detailed and up-to-date overview of Economic & Technical Evaluations in Engineering & Maintenance Project. It covers the engineering economics and its types, cost estimation and project feasibility assessment; the maintenance strategy, engineering project lifecycle and cash flow projections; calculating and interpreting net present value (NPV) and internal rate of return (IRR); the payback period, profitability index and cost-benefit analysis (CBA); the sensitivity and risk analysis and life cycle costing (LCC); and the technical performance indicators, asset criticality assessment, root cause and failure mode evaluation and condition monitoring techniques. 

 

During this interactive course, participants will learn the decision making in equipment replacement including technical standards and regulatory compliance; the value engineering in maintenance projects, reliability engineering in economic context and maintenance optimization models covering total productive maintenance (TPM), maintenance cost curves, optimal interval setting and reliability-centered scheduling; the energy efficiency projects and sustainability in engineering decisions; the project risk management, decision support tools and contracting and procurement considerations; and the KPI development for engineering economics including project justification reports and presentations.