Institute of Asset Management

Infobox Organization
name = Institute of Asset Management

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type = Not-for-profit Professional / Membership Organisation.
headquarters = London
location = International.
membership = Individual and Corporate
focus = Decision support tools & techniques
language = Mainly English
leader_title = President
leader_name = Robert Davis
key_people = Chief Executive - David McKeown
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budget =
website = [http://www.theiam.org/ Home page]

The Institute of Asset Management, known usually as The IAM, is an international, not-for-profit organisation and learned society, currently based in the United Kingdom. It is the professional and membership body both for individuals and also for organisations / companies interested in or engaged in asset management.

Asset Management is a young discipline bringing together concepts and techniques from general management and finance / accountancy as well as engineering, construction and technology. It is concerned with decision making and actions throughout the whole of life of physical assets (tangible assets, including infrastructure / property / manufacturing / etc and also information in that context). From the first identification of the need for an asset (whether for commerce or private use) decisions are made that affect the cost, use and value of these assets to all concerned. These stages are, typically: design, construction, commissioning, operation or service life, maintenance, repair, renewals and finally decommissioning and disposal.

Purpose & Function

The IAM exists to ....

Activities

Standards & Publications

The IAM promoted the development of PAS 55 the developing standard for asset management and is currently coordinating its revision , [ [http://www.theiam.org/asp/CurrentActivitiesDetail.asp?CurrentActivityID=7 The Institute of Asset Management ] ]

Membership Categories

Training & Course Providers

The IAM has led the development of a Competence Framework to facilitate the orderly provision of training and learning to individuals. This Framework is currently at Version 2 and deliberately integrates with existing management competence frameworks to enable easy addition to existing courses and programmes of learning. These recognised standards are in line with many international and nationally accredited requirements.In order to enable the maximum provision of learning at every level from foundation to research in the discipline, the IAM makes this Framework freely available to all together with Guidance on its proper use on the condition that users keep themselves aware of updates and do not alter it.The IAM does not offer training through 3rd parties, by working with commercial and other training providers to make available foundation courses following an IAM-endorsed syllabus. Some distance learning and video downloads are available from the websites of The IAM and partners. (See Links)

Assessment of Organisations

Many companies and organisations wish to demonstrate evidence of good stewardship of their assets to shareholders or stakeholders. In the same way that organisations show evidence of compliance for quality purposes to relevant standards such as ISO 9001, evidence of achievement in asset management may be demonstrated by compliance with BSI PAS 55:2008. The IAM has collaborated with industrial co-sponsors to develop an Assessment Methodology, which organisations may also use for self-assessment. This is available as a software ‘tool’ at cost.The IAM does not offer an assessment or certification service directly but encourages good practice in this activity by endorsing known good assessors, most of whom become Corporate Members and observe the IAM’s Code of Conduct.

History, Formation & Structure

References