September 2022

Principles of Asset Management: Application of ISO 55000 for Electrical Equipment

Status: Advanced online registration is now closed. Please contact Jennifer Chan at [email protected] for inquiries.
Date: Tuesday, September 27, 2022
Time: Registration and Login: 7:45 AM–8:00 AM Pacific Time
Webinar: 8:00 AM–12:30 PM Pacific Time
Location: Webinar
Presenter: Dr. Prodipto Sankar Ghosh, MBA

Dr. Ali Moshref, P.Eng.
IEEE PES Distinguished Lecturer
Credit: Eligible for 4.5 CE Hour(s) of Technical Learning
Cost: Engineers and Geoscientists BC Registrant Early Bird Price: $149.00 + GST = $156.45 until Sept 13, 2022

Engineers and Geoscientists BC Registrant Regular Price: $199.00 + GST = $208.95

Non-Registrant Price: $199.00 + GST = $208.95

Student Price: $79.00 + GST = $82.95
Please Note:
  • Student Price is eligible for participants in Engineers and Geoscientists BC’s Student Program
  • If you are not an Engineers and Geoscientists BC registrant, and you do not already have an existing account, please proceed to creating a new account to create a profile before completing your event registration
  • For webinar sessions, the webinar login instructions will be made available 3 business days prior to the webinar date
  • A minimum number of registrations are needed by September 13, 2022 to proceed with this seminar. Please register early to avoid cancellation
  • All prices are subject to applicable taxes
Contact: Jennifer Chan | Senior Professional Development Coordinator
Direct: 604.412.4861
Toll Free: 1.888.430.8035 ext.4861
Fax: 604.639.8180
Email: [email protected]
This course provides an overview of asset management principles and practices for industry and utilities. It examines the function and importance of asset management to asset dependent businesses. Participants will gain insight into key aspects of asset management, including risk assessment, legal, regulatory, ethical, and social requirements, cost-benefit analysis of investment options and life-cycle cost models. Emphasis will be placed on the importance of reviewing and updating plans and evaluating asset performance and capacity. This course will also review the role of information systems in supporting the delivery of an asset management strategy and plan. It provides knowledge on how to monitor the performance of assets and systems, how changes to assets and systems are managed, how asset management key performance indicators are determined, and the need for asset management stewardship reporting and how this is achieved.


Dr. Ghosh and Dr. Moshref’s 4-hour asset management course is specifically designed to grow engineers’ skillsets in order to apply integrated approaches to manage portfolios of electrical equipment at industrial facilities and utilities. These are the skills that many professional electrical engineers are looking for to advance their careers from purely technical to a combination of technical and managerial. The course focuses on the ISO:55000 standard for managing assets of any kind. Upon completion, students will understand the principles of integrated asset management and be able to help their organizations, in private industry and utilities, realize value from their assets.

Learning Objectives

Upon completion of this course, the student will be able to:

  • Understand the broader perspective of electrical asset management, asset management subject areas, asset management framework and asset management as a profession;
  • Recognize what is involved in creating an asset management strategy, policy and plan, and how these respond to business drivers and can be used to guide operational performance;
  • Explain how effective asset management practices can improve the bottom line of a business;
  • Recognize the importance of analysing life cycle costs, risks, and benefits of investment options;
  • Develop realistic procurement criteria, identifying and evaluating procurement methods, determining terms and conditions, bidding, negotiating, and monitoring the performance of suppliers/contractors;
  • Describe the purpose of identifying, assessing, and mitigating risks associated with asset management to meet legal, regulatory, ethical, and social requirements;
  • Determine key performance indicators for asset management;
  • Understand the necessity of asset management audit and reporting;
  • Explain why resource planning, especially for maintenance, life-extension, decommissioning and disposal of assets, is critical for operational excellence; and
  • Recognize the importance of maintaining accurate and up-to-date asset management records and understand how information systems are used to support the delivery of an asset management plan.

Course Schedule

Introduction to Asset Management
8:00 AM–8:45 AM

  • Define assets as per ISO55000
  • Understand what a management system is, and what is the importance of asset management
  • Know the standards that comprise the ISO55000 family
  • Key elements and hierarchy of policy, strategy, plan
  • Understand the benefits of developing an asset management policy compliant with the ISO 55001 requirements
  • Alignment of asset management strategy with corporate strategy
  • Visibility of operational performance through the asset management plans

Asset Related Decisions, Life Cycle Value Optimization and Asset Lifecycle Delivery Activities
8:45 AM–10:00 AM

  • Asset Life Cycle Decision Making
  • Creation and acquisition of assets
  • Operations and Maintenance of assets
  • Maintenance Strategies - Merits and Demerits
  • Asset performance and capacity monitoring
  • Extension of asset life / refurbishment
  • Renewal, rationalization and disposal of assets
  • Control operations for lifecycle activities, feedback and continuous improvement
  • Application of whole lifecycle costing principles

10:00 AM–10:30 AM

Asset Information Needs and Information System
10:30 AM–11:15 AM

  • Strategy, standards and asset information requirements
  • Elements of asset information system and their relative value
  • Collecting, archiving, analysing, and reporting asset management information system
  • Asset Integrity - Condition Monitoring, Condition Health Index and Risk Matrix
  • Advanced Asset Analytics
  • Asset information system management

Contractor and Supplier Management
11:15 AM–11:40 AM

  • Procurement policy, procurement standards
  • Selection of contractors for goods and services
  • Condition of supply
  • Management of contractor performances and administration
  • Meeting the strategic and policy goals through contractor and supplier management

Management of Asset Related Risks
11:40 AM–12:30 PM

  • Assessment and management of asset related risk
  • Understand the risk management framework
  • Understand and apply some risk evaluation techniques
  • Contingency planning
  • Asset management review and audit
  • Key performance indicators
  • Asset performance
  • Asset management capabilities
  • Asset management practices
  • Asset management audit – framework
  • Reporting

Target Audience

This course is aimed at new entrants and those with some experience in electrical asset management roles, seeking to achieve formal recognition of their knowledge and experience on asset management concepts and practices.

This program is designed for:

  • Senior Managers/Policy Makers
  • Technical/Maintenance/Asset Managers
  • Process/Network Operators
  • Maintenance Supervisors/Leads
  • Maintenance Technicians
  • Quality Assurance/Quality Control Specialists
  • Maintenance & Testing Specialists
  • Maintenance Planner & Scheduler
  • Tool Crib/Inventory Managers
  • Reliability/Maintenance Engineers
  • Design Engineers
  • Subject Matter Experts
  • Asset Management Consultants


To benefit from the course, attendees should have a basic prior knowledge and experience of the following:

  • Electrical Engineering Graduate;
  • Mid-range professional career; and
  • At least 3 years of work experience in one of the functions such as design, operation, maintenance, and reliability of assets.

Unique Features of the Course

Dr. Ghosh has more than 33 years of industry experience, has taught over 20 courses on specialist aspects of asset management and overseen 18 graduate students’ thesis in areas of condition assessments for high voltage electrical equipment. Former students have commented on Dr. Ghosh’s ability to present his expertise in an interesting, engaging manner that leads to understanding.


Dr. Prodipto Sankar Ghosh, MBA

Dr. Ghosh’s over 33 years of experience in electrical engineering include asset management audit, asset management policy development, and life-cycle cost analysis for industry and power utilities in Canada and Malaysia. He is best known for his risk-based asset management framework for transformers, switchgears, and cables.

He has been actively engaged in developing, organizing, and conducting short courses since 1996 in Canada, Malaysia, and India in the areas of electrical system maintenance, testing, protection, safety, and asset management. His students include engineers, technologists, and field technicians from power utilities to industry. Over a period of 20 years, he has built a strong research career through successful completion of three PhD and 15 masters level project supervision in the field of high voltage insulation diagnostics and has published more than 50 technical articles in reputed international journals and conferences, including IEEE.

Ali Moshref, P.Eng.

IEEE PES Distinguished Lecturer, Principal Engineer, Power Systems and Testing, BBA

Dr. Moshref joined BBA in 2012 with over 39 years of power system experience in the energy industry, including power system planning, system operation, asset management, and alternate energy resources for power generation, and software development for the analysis of power systems. Previously at Powertech Labs, Dr. Moshref was the Power System Studies Manager and reported to the Smart Utility Business Unit Director. Dr. Moshref developed planning and operation strategies and policies for various utilities and industrial organizations. Early in his career, Dr. Moshref co-founded CYME International Inc. where he designed and developed more than 12 computer programs for power system analysis. Dr. Moshref is the recipient of numerous awards from McGill University in Montréal, Quebec, the IDA World Congress on Desalination and Water Sciences in Abu Dhabi, UAE, and the NSERC Industrial Fellowship, Natural Science and Engineering Research Council of Canada. Dr. Moshref is: a Senior Member of the Institute of Electrical and Electronics Engineers (SMIEEE); an IEEE PES Distinguished Lecturer; a registrant of Engineers and Geoscientists British Columbia and Association of Professional Engineers and Geoscientists of Saskatchewan (APEGS); a Canadian Mirror Committee member to IEC TC114 for Marine Energy, Guide for Evaluating AC Interference on Linear Facilities Co-Located Near Transmission Lines, and IEEE Standard P2746™ (2018–2021); and a seasonal lecturer at the University of Victoria (UVic).

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