The company announces it's first course on Financial Risk Analysis for Planning Major Maintenance.
The company announces it's first course on Financial Risk Analysis for Planning Major Maintenance. It will be held July 20-21, 2000 in San Diego, California.
Traditionally, engineers address projects' technical, operational, safety, and budgetary aspects. Today's business world is much more focused on increasing profits and lowering costs. Gaining the required financial support to perform major component repair or replacement projects is an additional aspect and skill that reliability engineers, maintenance engineers, and maintenance planners need. Finance presents a new challenge that must be overcome even before a project commences.
Increasing competition over the last ten years in many industries has created this situation. Cost cutting is typically done in the maintenance resources area. Many maintenance engineers feel that maintenance is no longer considered a mainstream corporate activity. In this course engineers will learn how to express in financial-oriented terms their proposed maintenance needs to the financial decision-makers. The ability to present major maintenance concerns as a business investment, and successfully compete for corporate resources are the subjects of this course.
Early registration is encouraged, as space is limited. Registration Cut-off is June 19, 2000.
$695 per person. Includes all course materials and a copy of the ASME Risk Based Applications Handbook on Equipment Life Management, when it is released.
Holiday Inn Hotel & Suite Old Town, 2435 Jefferson Street, San Diego, CA 92110. Phone: 619-260-8500.
Attendees are required to make their own hotel reservations. A limited number of rooms have been reserved at the Holiday Inn Hotel & Suite Old Town.
The Holiday Inn Hotel & Suite Old Town provides a complementary shuttle service from and to the San Diego International Airport. Upon arrival at the airport, visit the Help Desk located in the baggage area. They will call the hotel to request the shuttle. Be sure and request " Holiday Inn Hotel & Suite Old Town ". To arrange departure, inform the hotel front desk. The shuttle service runs from 6:30 am to midnight.
A continental breakfast, lunch, and afternoon snack will be provided each day.
Thursday, July 20, 2000: 7:30 breakfast; 8:00 to 5:00 class. Friday, July 21, 2000: 7:30 breakfast; 8:00 to 5:00 class.
This course has been designed for engineers in profit producing facilities. It describes the proper steps for expressing engineering knowledge in financial terms using time proven and accepted tools - the same tools used in financial decision analysis. This course is the foundation to understand the application of financial risk management to major maintenance projects.
This course takes the participant through a building process for using risk-based screening procedures to decide which components are most important. Then, for these important components, the financial decision analysis process will be built. This process starts from the perspective of an engineering life analysis and is carried over into financial decision making for maintenance. Finally, the process of constructing a financially based major maintenance plan is discussed.
Course participants will gain an understanding of how engineering life analysis can be tied to financial decision making, and how to present a financially attractive maintenance plan to the decision-maker. Each course module will be followed with hands on computer sessions in MS Excel workbooks that the participant will keep.
- Integration Of Engineering With Financial Decision Making
- Risk-Based Screening Methods
- Making The Financial Business Case For The Major Maintenance Investment
- Engineering Sources For Component Life Data
- Producing A Financially Based Business Plan For Major Maintenance
ABOUT THE INSTRUCTOR
David Mauney, a Senior Consultant with the company, received his BS in Mechanical Engineering from Clemson University and his MS in Metallurgy from Georgia Tech. Dave has over 30 years' experience in the areas of fatigue and creep testing and research, failure analysis, remaining life analysis, including probabilistic analysis, and decision/financial analysis for maintenance decisions and prioritization. These experiences were gained at Southwest Research Institute, Carolina Power & Light Co. and ALCOA Research Laboratories. Dave is a co-author of the ASME Development of Guidelines for Risk-Based Inspection of Fossil Fuel Fired Power Plants, and is co-author of the soon to be published ASME Risk Based Applications Handbook on Equipment Life Management. In addition, he is on the ASME main committee for Post-Construction Issues and he chairs the Subcommittee for Inspection Planning.
Structural Integrity, 3315 Almaden Expwy., San Jose, CA 95118-1557. Tel: 408-978-8200 Ext. 233. Fax: 408-978-8964.