Asset Management IAM Certificate is the certificate in AM from The Institute of Asset Management (IAM) that provides a comprehensive overview of the principles and practices of Asset Management (AM). The content is aligned to PAS 55, ISO 55000 and the IAM’s competency framework, with a perspective on preparing participants to pass the IAM Certificate examination and to earn the AM certification.
This course provides a balanced competency development and assurance stage for those who already have either practical experience or specialist knowledge in AM, and are now seeking a more comprehensive understanding of AM. Participants will develop a business-centered appreciation of AM and will be better able to influence decisions which have AM implications.
The IAM Certificate is concerned with knowledge and comprehension of AM principles, practices, and the business benefits these can deliver. It is an ideal first step towards the IAM Diploma.
Our Certificate courses give a thorough grounding in the principles of asset management, how these apply in practice and the business benefits they deliver. The contents are based on specifications published by the IAM and, therefore, fully aligned with the 2014 IAM Competences Framework, the requirements of ISO 55001 and the GFMAM Asset Management Landscape.
AM experts and consultants design our training and taught by experienced AM practitioners. It prepares candidates for the specific demands of the IAM Principles of AM exam.
The Strategic Axis is unique in offering an IAM Principles of AM examination following the final day of every course it runs. We know how busy you are and we want you to be able to set the course and be immediately ready and able to sit an examination.
You might be interested in another Asset Courses as a next step as well as in practical implication of ISO 55001.
YOU WILL LEARN HOW TO
The course provides full coverage of the principles and practice of Asset Management.
Participants from organizations where the reliability, performance and attendant risks of fixed assets have a significant impact on business performance, will benefit most from this course.
At the end of this course the participant will be able to:
1. Contribute to generation and implementation of AM policy, strategy, objectives, and plans.
2. Participate in asset-related risk identification, analysis, and management processes and contingency planning.
3. Understand the asset lifecycle and the role of appropriate tools to optimize the performance, risk, and cost of assets.
4. Identify the information and performance measures needed for active asset management, and evaluate the effectiveness of asset information systems.
5. Understand the financial implications of asset and asset management decisions for the organization, and translate technical issues into business implications.
IMPORTANT COURSE INFORMATION
This course includes the IAM exam, which will take place on the final day of the course, and certification.
To be awarded the IAM Certificate, candidates will need to achieve an overall score of 65%, with a score of not less than 50% in each of the five modules.
The exam is ‘closed book,’ which means that printed reference materials and dictionaries cannot be taken into the examination room.
The exam is two hour in duration.
COURSE OUTLINE
Asset management policies, strategies, and plans
Asset Management
Business Impact, Investment issues, and whole-life costing
The operation, maintenance, repair and disposal of assets
Contractor & Supplier Management
The Asset Life Cycle and Related Decisions
Risk management
Information needs and systems
Asset management policies, strategies, and plans
Asset Management
Business Impact, Investment issues, and whole-life costing
The operation, maintenance, repair and disposal of assets
Contractor & Supplier Management
The Asset Life Cycle and Related Decisions
Risk management
Information needs and systems
Module 2: Asset Management Policy, Strategy And Planning
Analysing policy requirements, alignment of policy with corporate strategy and other goals – the line of sight; and the role of asset management in corporate governance
Developing the asset management policy, key contents of a policy and strategy, development methods, information requirements, roles and responsibilities; and policy and strategy evaluation
Analysing strategic requirements, alignment of asset management strategy with policy aims and objectives; consideration of risk, constraints, implications and other socio-economic factors in developing asset management strategy
Planning implementation of the asset management strategy, performance requirements and future demand projections; criticality and risk analysis; whole life costing; Capex and Opex forecasting; work volumes and programmes; alignment with policy and strategy; the asset management plan; and implementation, improvement, and review
Develop and communicate asset management plans: asset management activities necessary to achieve strategic aims; review and communication of planning process and outcomes; establishing resource requirements for delivery of asset management
Module 3: Managing Asset Life Cycle Decisions And Activities
Asset Life Cycle Decision Making
Creation and acquisition of assets: analyzing business needs; specification of performance indicators; assessing risks, costs, and benefits; preparation of a business case
Creation and acquisition of assets: review and influence procurement policy to achieve optimum asset life-cycle performance and value; develop design specifications to meet optimum customer, business, and life-cycle requirements
Maintain assets: strategic maintenance requirements; spares management; condition assessment; extending life of assets
Renewal, rationalization, disposal of assets: review performance against specifications; evaluate rationalization options; to implement and assess rationalization projects
Control operations: developing implementation plans; reviewing and updating operations strategy; developing and evaluating work management processes; delivering work-plans
Application of whole-life costing principles: determination of costs; requiring models; analysis, verification, and monitoring; implementing improvements through cost reviews
Module 4: Assessing And Managing Asset Management Risks
Assessment and management of risk
Contingency planning
Asset management review and audit
Module 5: Financial And Business Impact
Strategic requirements
Investment decision-making
Asset management planning
Creation and acquisition of assets: the business case
Module 6: Practice Of Asset Management
Managing Asset Life Cycle Decisions and Activities
Assessing and Managing Asset Management Risks
Asset Management Policy, Strategy, and Planning
The Financial and Business Impact of Asset Management
Demand Forecasting and Capital Expenditure Planning
Managing Change in Asset Management Systems and Capabilities
Methods for Realising Whole Life Value from Assets
Sustainable Asset Care & Performance
Asset Management Information and Knowledge
Contractor and Supplier Management
Module 7: Asset Management Information & Knowledge
Asset Information Strategy and Policy
Defining asset information requirements: standards and definitions; alignment with strategic and operational aims objectives
Specifying, selecting and integrating asset management information and knowledge systems
Making appropriate asset management information available for decision-making: data quality, data collection; data maintenance and updating; data storage; dissemination
Module 8: Sustainable Asset Care & Performance
Sustainability
Maintain assets
Balancing the need for and rationalizing assets
Renewal or disposal of assets: costs, risks, and benefits
Monitor and review progress and performance
Failure analysis and responses
Assure the quality of asset management processes
Development and deployment of people and teams
Compliance with legal, regulatory, ethical and social requirements
Module 9: Managing Change In Asset Management Systems And Capabilities
Designing and managing organizational change: reviewing existing structures; identify needed modifications; implementing change
Shaping the asset management culture: asset management goals and benefits; the learning necessary for achieving strategic and operational aims and objectives; monitoring the effectiveness of culture
Module 10: Contractor And Supplier Management
Development, use, and management of contractors and suppliers: criticality of goods and services; specifications for contractors and suppliers; specifications for goods and services; contractor and supplier relationships
Assure the quality of asset management processes: identifying quality problems; planning and implementing improvements; evaluation of improvements
Module 11: Demand Forecasting And Capital Expenditure Planning
Forecasting and analyzing future user requirements and demands: using analytical tools and techniques selection and use of appropriate data for predicting; anticipation of trends in technology and product development
Appraising investment options: investment criteria; investment options; costs, risks, and benefits; selection of investment options; evaluation of investment plans
Module 12: Methods For Realising Whole Life Value From Assets
Whole life value from assets
Application of whole life costing principles: determining asset management activity costs and asset values; whole-life requiring models; using unit cost data; revising calculations as expenses vary; reviewing and improving costing processes
