This unit will introduce you to asset management concepts and systems meeting Asset Management Standard ISO5000 requirements. The assets referred to are physical assets such as fixed and mobile plant, machinery and infrastructure used in asset-intensive industries. You will learn how organisations manage their assets and asset systems and provide examples of financial concepts and techniques used in asset management. You will identify asset management functions and develop a life cycle plan for an asset in an organisation, as well as apply financial principles in an asset management context. You will also consider the key risks associated with assets.

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Feedback from Have your say survey

The lecturer’s use of real-world approaches made the concepts much easier to grasp. Inviting guest speakers was especially helpful, as it gave us insight into post-graduation life and helped us understand the processes involved in becoming certified Asset Management practitioners.

Keep inviting guest speakers and providing real-world examples for the unit. The feedback shows that this approach is really resonating with students, so maintain the structure that connects theoretical ideas to practical certification processes.

Feedback from Have your say survey

Include reference textbooks in unit material

Based on the feedback, we’re looking into adding a curated list of reference texts that tie into asset management frameworks and ISO 55000 standards. This should help students who prefer structured readings and want to dive deeper into the topics. We’ll roll this out in the next term.