Asset Management

Asset Management Extension Certificate  


Important Notice

Effective January 22, 2019 the Asset Management Extension Certificate program is suspended.

Current, active students will have until June 2019 to complete the program requirements for graduation. Please contact us at or 403.440.6013 for more information.



PSAMS LogoMount Royal, in association with Power System Asset Management Solutions (PSAMS), is pleased to offer an Asset Management program to prepare you for a globally accepted asset management credential. Acquire the knowledge and skills you need to develop and implement an asset management plan for the critical infrastructure in your organization or for your clients.

Industry is moving towards implementing a formalized and holistic asset management practice. A full suite of asset management standards ISO 55000 / ISO 55001 / ISO 55002 were published in 2014 and are being implemented by organizations across the globe. These standards are applicable to all types of assets – physical, software, human, data and knowledge assets, or any other types of assets owned by all types and sizes of organizations.

Upon successful completion of this program you will be awarded the Asset Management Extension Certificate by MRU-PSAMS. In addition, this program will prepare you to challenge the Principles of Asset Management examination administered by the IAM and earn the globally accredited IAM Certificate.

Get yourself ready to take on asset management challenges!


 Learn about the fundamentals of Mount Royal University's Asset Management Program with Prodipto Ghosh, Director of Power System Asset Management Solutions Inc.

  • Gain a thorough understanding of current industry standards. Key areas taught in this program include:
    • The Principles of Asset Management
    • Asset Management Policy, Strategy and Planning
    • Managing Asset Lifecycle Decisions and Activities
    • Assessing and Managing Asset Related Risks, and
    • The Financial and Business Impacts of Asset Management 
  • Enhance your Asset Management credentials; accepted locally and globally
  • Gain asset management skills to enhance your business or technical career
  • Gain skills that will remain relevant even if you make a career move or career switch within an asset intensive industry
  • The outcomes of each course are aligned with the Guidance for Candidates - May 2015 of the Institute of Asset Management (IAM).

Principles of Asset Management
Gain an overview of asset management principles and practices. Examine the function and importance of asset management for a wide variety of organizations. Understand key aspects of asset management including: risk assessment; legal, regulatory, ethical and social requirements; cost-benefit analysis; and lifecycle cost models. 

Subject code: XASM 10001   No longer offered

Asset Management Policy, Strategy and Planning
Gain an understanding of the drivers of short, medium and long term business goals at a high level. This course explores the fundamental concepts of how asset related business goals are translated into overall organizational strategic plans.

Subject code: XASM 10006   No longer offered.

Asset Lifecycle Management

Explore the management of the asset lifecycle; from the decision to acquire or develop new assets through to specification, procurement, installation, operation, maintenance, repair and refurbishment and, ultimately, decommissioning and disposal.

Subject code: XASM 10003   No longer offered

Assessing and Managing Asset Related Risk
Examine the anticipation, measurement and management of asset-related risks. Topics include: risk assessment and management, quality assurance, risk in relation to cost-benefit analysis, regulatory and statutory requirements, compliance and audits, measures and methods for controlling risk, organizational learning and continuous improvement..

Subject code: XASM 10002   No longer offered

Financial and Business Impacts of Asset Management

Explore the financial and business impacts of asset management. Key issues include: making informed decisions about asset management and investments; assessing the need for such decisions; analyzing business needs related to asset acquisition or development; and assessing asset related risks, costs and benefits.

Subject code: XASM 10005   No longer offered

Who is this program intended for?
This program is designed for new or junior-level asset management professionals or experienced asset management professionals who want to update or formalize their credentials. The program is also for business and technical professionals involved in physical asset management related work, including business professionals, engineers, IT managers, project managers and line/plant managers.

How many courses are there?
There are 5 required courses totaling 93 hours.

Do I have to take the courses in order?
Although there is no formal prerequisite for each course, we highly recommend that you take the Introduction to Asset Management (The Principles of Asset Management) first as it provides the foundational asset management principles.

Why is Asset Management important?
Increasing competition forces asset-intensive organizations to maximize the value from their assets or to reduce life cycle cost. Organizations are taking holistic and integrated approaches to managing their assets. ISO 55000, ISO 55001 and ISO 55002 have been published in 2014 as the internationally accepted standard for asset management. Organizations across the globe are adopting it for their own benefits. Business and technical professionals are required to have a clear understanding of the value that asset management brings to the business and the requirements to comply with asset management standards.

Why should I choose MRU's Asset Management program?
Mount Royal's Asset Management Program is designed to prepare you for a globally accepted asset management credential. The program is offered in collaboration with PSAMS, a leading industry expert in asset management. Upon successful completion of this program you will be awarded Asset Management Extension Certificate by MRU-PSAMS.

How are these courses different from Asset Planning?
MRU's Asset Management courses teach in detail every aspect of asset management throughout the asset life cycle: from design/create/acquire assets, to operate and maintain assets, and finally to the rationalization and disposal of assets. Asset planning and management courses focus on maintenance planning and maintenance management which is a small part of the total scope of asset management.

How are these courses different from Maintenance Management?
Maintenance is only a part of the whole asset life cycle. Maintenance management covers only a small fraction of the scope of asset management.

How are these courses different from Reliability Engineering?
Reliability engineering, although an extensive subject by itself, it is only a fraction of the whole scope of asset management over the life cycle of an asset. Therefore Asset Management courses have a broader scope than Reliability Engineering courses.

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Contact us

For information about this program:
403.440.6013 or 1.888.392.3655
Mount Royal University, 4825 Mount Royal Gate SW, Calgary AB  T3E 6K6

Customize this program for your organization through our Corporate Training department.

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