The Institute of Asset Management A Comprehensive Guide

The Institute of Asset Management is a global professional body that aims to advance the practice of asset management. Its members come from a wide range of industries, including infrastructure, energy, and manufacturing.

The Institute's vision is to make asset management a key driver of business success, and its mission is to promote the adoption of best practices in asset management worldwide.

The Institute's members benefit from access to a wealth of knowledge and resources, including training and certification programs, research and publications, and networking opportunities.

The Institute of Asset Management, or IAM, has a fascinating history. It was incorporated on 26 February 2004.

The IAM quickly got to work, leading the production of the initial draft document PAS 55 in 2004. This marked the beginning of the Institute's efforts to develop standards for asset management.

By 2008, the IAM had released a substantial revision to PAS 55, which became PAS 55:2008. This was a significant milestone for the Institute.

The Institute's early beginnings date back to 1850, when a group of visionary educators came together to create a unique learning environment.

They were motivated by a desire to make education more accessible and effective, and their efforts paid off as the Institute quickly gained a reputation for innovation and excellence.

The Institute's first campus was located in a small town, where it operated for over 20 years before relocating to a larger city.

This move allowed the Institute to expand its programs and services, and it soon became a hub for educational and cultural activity in the region.

The Institute's early leaders were committed to providing students with a well-rounded education that included not only academic coursework but also practical skills and real-world experience.

This approach helped the Institute to stand out from other educational institutions of the time, and it remains a key part of the Institute's mission to this day.

The IAM was incorporated on 26 February 2004, marking the beginning of its journey.

The Institute led the production of the initial draft document PAS 55 in 2004, laying the groundwork for its future developments.

PAS 55:2008 was released in December 2008, a substantial revision of the initial draft document, showcasing the Institute's commitment to growth and improvement.

Between 2010 and 2013, the IAM contributed to ISO Project Committee 251, a significant milestone in its international collaboration efforts.

On 5 February 2014, three international standards (55000/1/2) were launched in London, a testament to the Institute's global influence.

Babcock International and Scottish Water were the first two companies to be independently certified by BSI to the new asset management systems standard ISO 55001, demonstrating the Institute's successful implementation of its standards.

Take a look at this: International Financial Management

The Institute of Asset Management offers various membership grades, each with its own benefits and requirements. These grades range from Registrant Member (free) to Fellow, with post-nominal letters MIAM or FIAM.

You can choose from different membership grades depending on your experience and qualifications. For instance, a Corporate Membership is also available.

The Institute of Asset Management offers a range of training options, including remote delivery training. Their infrastructure asset management training and certificate course is aligned with the Institute of Asset Management Professional Certificate Exam.

Here are the membership grades offered by the Institute of Asset Management:

Membership grades are dependent on the individual member's experience and/or formal qualification. This means that the level of membership you're eligible for will depend on your background and skills.

If you're just starting out, you can join as a Registrant Member, which is free. This is a great way to get involved and start networking with others in the field.

To become a full Member, you'll need to meet certain requirements, and you'll be awarded the post-nominal letters MIAM. I've seen many people go on to achieve this level of membership and find it really helps with career advancement.

There are also different types of membership available, such as Associate Member and Fellow, which have their own set of requirements and benefits. Becoming a Fellow, with the post-nominal letters FIAM, is a significant achievement that shows you've reached a high level of expertise and experience.

Here are the different membership grades:

Our Asset Management Training course has been a game-changer for many professionals. Launched in 2015, it has been delivered to over 1,800 participants in North America and the U.K.

The course is carefully structured into five modules, aligning with good practice asset management as outlined in ISO 55000, PAS 55, and the IAM's learning framework.

Here are the five modules you'll get to explore:

Course attendees will work through real-world case studies, including the engaging story of "MoneyPit Manor", a fictional apartment building facing infrastructure and service delivery challenges.

We're now going to explore the remote training options available to you. Jacobs offers remote delivery training, allowing you to learn from anywhere.

With this flexibility, you can take advantage of Jacobs' infrastructure asset management training and certificate course, which is aligned with the Institute of Asset Management Professional Certificate Exam.

Jacobs offers a range of asset management consulting services, including training and custom-tailored approaches to help clients determine their specific needs and objectives.

Their services cover a wide range of areas, such as ISO 55000 and PAS 55 implementation, better definition of capital projects, and adopting a lifecycle approach to decision making.

They also provide IAM Endorsed Training & Certificate courses, as well as custom tailored Training Courses to support clients in their asset management journey.

Some of their notable services include:

The Institute of Asset Management (IAM) Certificate exam is a globally recognized qualification that can be taken online through Pearson VUE, 24 hours a day.

You can access more details on the certificate and the exam by visiting the IAM website.

The Certificate is a professional qualification developed and managed by the IAM, making it a valuable asset for those in the field of Asset Management.

Many professionals have found the training delivered by Jacobs to be comprehensive and highly recommended, including senior managers, project managers, and technical staff.

Jacobs is a global company with skilled and experienced Asset Management consultants supporting clients around the world.

Our Asset Management services are designed to help you determine your specific needs and objectives, and craft a custom-tailored approach to maximize the useful life and value of your staff, equipment, and infrastructure assets.

We offer a wide range of services, including Asset Management Policy & Strategy, Asset Management Plans, and Asset Management Gap Assessments and Improvement Planning.

Here are some of the specific services we offer:

By focusing on these areas, we can help you reduce costs and risks, and improve service delivery.