The Reliability Engineering and Asset Risk Management course provides the knowledge and skills necessary to calculate values of reliability and risk of components, systems and assets in variety of industries.

At a glance

Course structure

This course is delivered through a balanced combination of lectures and practical sessions. All delegates will receive a Certificate of Attendance upon completion of this course.

What you will learn

On successful completion of this study the student will:

  1. Have a good knowledge of the asset risk management techniques and maintenance strategies used in different industries
  2. Be familiar with various proactive maintenance policies (age and block maintenance, RCM, RBM, CBM, PdM, TPM)
  3. Understand the concept and applications of Monte-Carlo simulation in system reliability and availability modelling
  4. Have a basic understanding of system’s life-cycle and understand the financial implications involved with assessing the maintenance and risk factors of offshore projects.

Core content

  • Introduction: Asset management, overall equipment effectiveness (OEE), asset productivity
  • Asset integrity: Asset integrity management, Risk-based integrity, Through-life engineering
  • Maintenance engineering: Maintenance regimes, reactive vs. proactive maintenance; Age and block maintenance, Reliability-centred maintenance (RCM), Risk-based maintenance (RBM)
  • Fault prognosis and diagnosis: Fault detection and failure location; Root-cause analysis (RCA), Common-cause analysis (CCA), Condition-based maintenance (CBM), Predictive maintenance (PdM)
  • Introduction to Total Productive Maintenance (TPM), World-class maintenance (WCMain)
  • Maintenance modelling, planning, scheduling, and optimisation
  • Reliability data analysis: types and sources of reliability data, data collection, data cleansing, data accuracy and precision, model fitting, big-data, incomplete data, redundant data, not-detailed data
  • Applications of Monte-Carlo simulation in system reliability and availability modelling
  • Probability of failure, Cost of failure, and risk of failure in offshore energy systems
  • System’s life-cycle: Life-cycle cost (LCC) analysis, whole-life costing, how to identify key cost drivers
  • Warranty and service contracts analysis: guarantees, warranties, extended warranties, service contracts, and maintenance outsourcing with several examples from the oil and gas, marine renewable's, railway and manufacturing industries
  • Workshops and case studies: Work in groups to analyse the reliability, availability and maintainability of various offshore systems and components.

Upgrade to a professional qualification

Cranfield credits are available for this short course which you can put towards selected Cranfield degrees. Find out more about short course credit points.

Who should attend

The course will benefit mechanical, structural, pipeline, industrial engineers and technicians who are or plan to be involved in reliability engineering and risk management of industrial assets.


Dr Mahmood Shafiee - Lecturer in Engineering Risk Analysis


10% discount applies if booked 8 weeks in advance. 10% discount for 3rd and subsequent delegates from the same company/site. Discounts can be combined.

Accommodation options and prices

This is a non-residential course. If you would like to book accommodation on campus, please contact Mitchell Hall or Cranfield Management Development Centre directly. Further information regarding our accommodation on campus can be found here.

Alternatively you may wish to make your own arrangements at a nearby hotel.

Location and travel

Cranfield University is situated in Bedfordshire close to the border with Buckinghamshire. The University is located almost midway between the towns of Bedford and Milton Keynes and is conveniently situated between junctions 13 and 14 of the M1.

London Luton, Stansted and Heathrow airports are 30, 90 and 90 minutes respectively by car, offering superb connections to and from just about anywhere in the world. 

For further location and travel details

Location address

Cranfield University
College Road
MK43 0AL

Read our Professional development (CPD) booking conditions.