Overview
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.
Details
Pre-requisites or Co-requisites
Pre-requisite: ENMM 20023 Introduction to Asset and Maintenance Management
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 1 - 2024
Attendance Requirements
All on-campus students are expected to attend scheduled classes - in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Postgraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of 'pass' in order to pass the unit. If any 'pass/fail' tasks are shown in the table above they must also be completed successfully ('pass' grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the 'assessment task' section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University's Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure - Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure - International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback - Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
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 Unit Evaluation
Unit learnings can be directly applied at the workplace.
The feature will be maintained.
- Identify and discuss asset management functions.
- Develop a life cycle plan for an asset in an organization supported by information and data management plan.
- Apply financial concepts and techniques in an asset intense organization through a financial management plan (for assets).
- Identify and analyze the key risks associated with assets in an assets intense organization.
- Demonstrate effective leadership with senior management team in developing the Strategic Asset Management Plan (SAMP) applicable for your organization.
n/a
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1 - Written Assessment - 30% | |||||
| 2 - Written Assessment - 40% | |||||
| 3 - Written Assessment - 30% | |||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1 - Knowledge | |||||
| 2 - Communication | |||||
| 3 - Cognitive, technical and creative skills | |||||
| 4 - Research | |||||
| 5 - Self-management | |||||
| 6 - Ethical and Professional Responsibility | |||||
| 7 - Leadership | |||||
| 8 - Aboriginal and Torres Strait Islander Cultures | |||||
Textbooks
Physical Asset Management
Authors: Hastings, Nicholas Anthony John
Springer-Verlag
London London , UK
ISBN: 978-1-84882-751-6
Binding: eBook
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- ebook-Physical Asset Management 2015: With an Introduction to ISO55000 , Author: Nicholas Anthony Jhon Hastings
- Learning guide in the form of a Moodle book uploaded on the moodle web page
- Online lecture sessions via Zoom
- Students are required to have necessary equipment/accessories to attend online Zoom or Microsoft sessions.
All submissions for this unit must use the referencing style: Harvard (author-date)
For further information, see the Assessment Tasks.
s.sharma2@cqu.edu.au
a.daemi@cqu.edu.au
Module/Topic
Course Overview
Chapter
Textbook Chapter - 1.
Events and Submissions/Topic
Online weekly Zoom lecture and tutorial session schedules will be announced by the lecturer via the Moodle web page of this unit or through emails. Please visit the Moodle website for announcements
Quizzes, book sections 1.12.1 and 1.12.2
Module/Topic
Asset Capability Delivery
Chapter
Textbook Chapter - 4.
Events and Submissions/Topic
Discussion forum activities and Zoom session.
Tutorial Activities 1 and 2 on the lecture file.
Module/Topic
Concept Proposal - Assgt 1 Intro.
Chapter
Textbook Chapter - 4.
Events and Submissions/Topic
Discussion forum activities and Zoom session.
Discussion on Assignment 1.
Module/Topic
Information and Data Management
Chapter
Textbook Chapters - 13,22,28.
Events and Submissions/Topic
Discussion forum activities on Assignment -1 in Zoom session.
Tutorial Exercises 1 and 2 on lecture file.
The census date is Tuesday the 26th March 2024. After this, you will not be able to drop or withdraw this unit.
Module/Topic
Asset Fleet Planning
Chapter
Textbook Chapter - 10.
Events and Submissions/Topic
Case study exercise on lecture file.
Discussion on Assessment 1.
Module/Topic
Vacation week
Chapter
Events and Submissions/Topic
No lecture/Tutorial this week
Module/Topic
Module 3- Financial Methods
Chapter
Textbook Chapters - 5, 8, 23.
Events and Submissions/Topic
Case studies 1 and 2 are on the lecture file.
Daylight saving time ends. Match your lecture time accordingly.
Assignment 1 - Concept Proposal Due: Week 6 Monday (15 Apr 2024) 11:59 pm AEST
Module/Topic
Business Case - Assessment 2 Intro.
Chapter
Textbook Chapters - 6, 7.
Events and Submissions/Topic
Lecture on the topic and discussion on the selection of a business case.
Module/Topic
Cost-Benefit Analysis
Chapter
Textbook Chapters - 14, 24.
Events and Submissions/Topic
Cost-benefit case study on lecture file.
Guest lecture on financial aspects of asset management.
Module/Topic
Asset Budgeting
Chapter
Textbook Chapters - 8, 12, 19.
Events and Submissions/Topic
Case Study on lecture file.
Module/Topic
Assessment 3 Intro. & Strategic Asset Management Plan
Chapter
Textbook Chapters - 11, 29.
Events and Submissions/Topic
Lecture on the topic and discussion on the requirements of the Strategic Asset Management Plan stated in ISO 55000.
Assignment 2 - Business Case Due: Week 10 Monday (13 May 2024) 11:59 pm AEST
Module/Topic
Asset Management in the Organisation
Chapter
Textbook Chapters - 2, 7.
Events and Submissions/Topic
Strategic Plan Exercise on lecture file.
Guest lecture on the new ISO standards for Asset Management.
Module/Topic
Revision
Chapter
All chapters
Events and Submissions/Topic
Work on Assessment 3 is due next week.
Module/Topic
Chapter
Events and Submissions/Topic
Assessment 3 is due on Tuesday:
Assignment 3 - Review Topics Due: Review/Exam Week Tuesday (4 June 2024) 11:59 pm AEST
Module/Topic
Chapter
Events and Submissions/Topic
1 Written Assessment
This assignment aims to develop your ability to initiate a proposal for an asset-based development or improvement related to your workplace (or similar) at the concept stage. The proposal should present information supporting a management decision on whether to put further effort into developing the concept. Write an outline of the proposal. The assignment will be based on the topics covered in weeks 1-4. Further requirements will be discussed in classes.
Week 6 Monday (15 Apr 2024) 11:59 pm AEST
Week 8 Tuesday (30 Apr 2024)
Assignments will be returned within two weeks of the actual submission.
Marking Criteria
· Clarity of problem definition and project aims
· Concept-level description of potential developments with benefits and options
· Structure, presentation, terminology, grammar, and referencing.
· Identification of any procedures or documents relevant to advancing the proposal within your organization.
- Identify and discuss asset management functions.
- Develop a life cycle plan for an asset in an organization supported by information and data management plan.
2 Written Assessment
This assignment aims to develop your ability to create and present a business case for asset management development in your organization or a similar setting. The focus is on justifying the project in financial and/or cost-benefit terms, or other compelling reasons such as regulatory requirements. You are required to submit a business-style report and a supporting PowerPoint presentation for this assignment. It represents a further development of the concept proposal prepared in Assessment 1, with certain information being modified or overlapped. The assignment will be grounded in the topics covered during weeks 1-8, and additional requirements will be discussed in class.
Week 10 Monday (13 May 2024) 11:59 pm AEST
Week 12 Monday (27 May 2024)
Marking Criteria
It is recommended that you read beyond the course materials to complete assessment items. Your submission for this assessment will be evaluated by the following criteria.
· Effectiveness of the Executive summary
· Statement of planning assumptions and options
· Preferred option description
· Financial analysis and/or cost benefit analysis
· General support for the rationale of the project from a business viewpoint, including risk
§ Structure, presentation, terminology, grammar and referencing.
For the PowerPoint presentation:
§ Good business communication practices are to be evident.
§ Not too much detail on slides.
§ Coherent and logical presentation directed to a senior management level.
§ Accurate summary of project aims, issues and plans
§ Structure, presentation, terminology, grammar and referencing.
- Identify and discuss asset management functions.
- Develop a life cycle plan for an asset in an organization supported by information and data management plan.
- Apply financial concepts and techniques in an asset intense organization through a financial management plan (for assets).
- Identify and analyze the key risks associated with assets in an assets intense organization.
- Demonstrate effective leadership with senior management team in developing the Strategic Asset Management Plan (SAMP) applicable for your organization.
3 Written Assessment
This assignment is aimed at assessing the student’s overall understanding of Asset Management topics. Students are required to read the course notes and present responses to the questions asked in this assignment. Students’ responses should reflect their own interpretation and workplace experience, as well as learning through articles and books, including the recommended text book of this unit.
Answers can draw directly on the course notes, which can be given as a single reference. Where other sources are quoted, the relevant references should be given.
Review/Exam Week Tuesday (4 June 2024) 11:59 pm AEST
Exam Week Friday (14 June 2024)
Assignment return dates are tentative, marks will be posted only after the approval of School committee meeting.
Marking Criteria
§ Introduction and background indicating knowledge of topic
§ Good business communication practices are to be evident.
§ Coherent and logical presentation directed to a senior management level.
§ Structure, presentation, terminology, grammar and referencing.
- Apply financial concepts and techniques in an asset intense organization through a financial management plan (for assets).
- Identify and analyze the key risks associated with assets in an assets intense organization.
- Demonstrate effective leadership with senior management team in developing the Strategic Asset Management Plan (SAMP) applicable for your organization.
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
