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AMP001 - Course 1: Asset Management Principles and Strategic Development


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Available Anywhere: Apr 11, 2023 - Jun 19, 2023

This course provides an overview of the essentials of Asset Management in the context of ISO 5500x and assists the participants to identify opportunities for application of Asset Management concepts in their own organization to realize value. Topics include the history of Asset Management development including PAS55 and ISO 5500x, the purpose of Asset Management Policy and the importance of congruence in applying it across the organization ('line of sight'), Asset Management Strategy and Asset Management Plans. The course also provides an overview of Asset Management decision-making tools covered in more detail in subsequent courses: risk assessment, lifecycle delivery activities, design for reliability, asset rationalization and disposal decisions. Understanding of these concepts is valuable for building a common language among managers and leaders responsible for acquisition/disposal and stewardship of corporate assets.

Required Course Materials/Textbooks need to be purchased by the student (you can order online). See the list below and order as soon as you register for your course.

Please note: required learning materials are subject to change, confirm training materials at the time of registration.

This course is recommended for mid-career professionals from IT, engineering and/or business management who have responsibility for managing decisions with respect to the core life cycle functions such as design, selection, operation, and maintenance of an organization's assets.

Required Course Materials/Textbooks for Course 1
Asset Management: Transforming Asset Dependent Businesses, Second Edition, Edited by Chris Lloyd and Michael Corcoran, 2019 Edition. ISBN: 978-0727761439

Asset Management - An Anatomy, Version 3, IAM (free pdf, email: to request a free copy, you will need to provide proof of registration)

ISO 55000, 55001 and 55002 Standards: These documents are also available as a printed version. ISO 55002 was recently updated to the 2018 version.
Note: If you have ISO 55002: 2014 you can refer to this document and are not required to purchase the 2018 standards.

"Chapter 13 - Maintenance and Reliability Best Practices by Ramesh Gulati. Third Edition. Publisher: Industrial Press Inc. Chapter 13 Title: Current Trends and Practices.
The second edition of the book is also acceptable. In the 2nd edition refer to Chapter 12 (Maintenance and Reliability Best Practices)."
You can Email: to purchase the Chapter 13 (Maintenance and Reliability Best Practices) code OR you can purchase the entire book on your own.

Physical Asset Management: With an Introduction to the ISO 55000 Series of Standards, Third Edition by Nicholas A.J. Hastings, 2021, Chapter 15: Risk Analysis & Risk Management Only required for course 1, the 2ndEd. of this book is also acceptable.

Note: Course 4 required readings include the entire textbook, Physical Asset Management: With an Introduction to ISO55000, Third Edition, by Nicholas A.J. Hastings, 2021 Edition. You may want to consider purchasing the full textbook.

Note: A full listing of AMP Course Materials are available as a pdf document, you can request the most current listing by emailing:




Available Anywhere


(Apr 11, 2023 to Jun 19, 2023)


Tuition (GST exempt): $895.00

Total Cost: $895.00 (Reduced from $925.00 until Apr 03)

Delivery Method

NLC Anytime, Anywhere

Private Training - A Continuing Education & Corporate Training Specialty

Training on your terms and your schedule. We can offer any course to your workplace or community. Phone 780.849.8623 and talk with us about your training needs or email:

Withdrawals and Refunds

An administrative fee of $50 will be charged for all cancelled or transferred registrations. Tuition will be fully refunded less the $50 administration fee when notice of withdrawal is given 14 days before the course start date. A partial refund of 75% of the tuition fee is granted if notice of withdrawal is received less than 14 days prior to the course start date and up to 14 days after the course start date.


Northern Lakes College reserves the right to re-schedule or cancel a course that lacks sufficient registrations to provide a satisfactory learning atmosphere. In this event your registration fee will be refunded in full or applied to the re-scheduled course.

Fee payment

Fees are due at the time of registration. Northern Lakes College accepts cash, cheque, money order, debit, VISA, MasterCard, American Express. Invoicing to a company requires a Purchase Order (PO).