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IAM Certificate in Asset Management - Virtual Learning Meirc Plus Speciality Training

IAM Certificate in Asset Management - Virtual Learning

Why Attend

The Institute of Asset Management (IAM) Certificate in Asset Management course 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 in Asset Management examination and to earn the AM certification. 

This course provides a well-rounded 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 Asset Management, and will be better able to influence decisions which have AM implications.

This course is run in partnership with Woodhouse Asset Management Academy who are endorsed by the Institute of Asset Management (IAM).  This course leads to the Certificate in Asset Management qualification/certification.  The IAM exam is included in the course, and can be taken online at any point within one year of the course. 

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Course Methodology

This is a highly interactive course which will include group discussions, case studies, videos, group presentations and quizzes.

Course Objectives

By the end of the course, participants will be able to:

  • Contribute to the generation and implementation of AM policy, strategy, objectives and plans within their organizations
  • Participate in asset-related risk identification, analysis, management processes, and contingency planning
  • Understand the asset lifecycle and the role of appropriate tools to optimize the performance, risk and cost of assets
  • Identify the information and performance measures needed for effective asset management, and evaluate the impact of asset information systems
  • Understand the financial implications of asset and asset management decisions for their organization, and translate technical issues into business implications
Target Audience

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. This course is suitable for engineering and technical managers, project managers and project engineers, operations managers, maintenance managers, facilities managers, EHS and quality managers, and procurement and supply chain managers.

Target Competencies
  • Asset management
  • Risk identification
  • Contingency planning
  • Asset life cycle costing
  • Maintenance planning

This course is run in partnership with Woodhouse Asset Management Academy who are endorsed by the Institute of Asset Management (IAM).  This course leads to the Certificate in Asset Management qualification/certification.  The IAM exam is included in the course, and can be taken online at any point within one year of the course.

Course Outline
  • Introduction and overview of Asset Management (AM)
    • Introduction to AM
    • International Standards – ISO 55001
    • Overview of good practice
    • Organizational context and stakeholder needs
    • Converting business plans to asset plans
    • The strategic AM plan
    • AM policy
    • Needs and capabilities of the assets
  • The Asset Lifecycle
    • Introducing the Asset Lifecycle
    • Design and acquisition
    • Commissioning and handover
    • A Strategic approach to operations and maintenance
    • Understanding and managing failures – Introduction to tools and techniques
      • Root Cause Analysis (RCA)
      • Failure Mode and Effect Analysis
    • Managing ‘random’ failure
    • Spares management
    • Decommissioning, disposal and renewal
    • Asset life cycle strategies – Alignment and optimization
    • Developing and optimizing AM plans
    • Constraints and shutdown optimization
  • Planning, risk management, and decision making
    • Delivering plans
      • Capital
      • Operations and maintenance
    • Managing resources and change
    • Outsourcing and supply chain management
    • Risk management
    • Asset criticality
    • Contingency planning
    • Value and risk-informed decision making
    • Asset Management decision making – Principles and approach
    • Techniques for working uncertain or sparse data
    • Life Cycle Costing (LCC)
      • Introduction
      • Evaluation of options
  • Asset Management enablers
    • Asset information – Overview
    • Asset data – Fundamentals
    • Dynamic data - Condition and performance
    • Collecting and using tacit information
    • Information systems – Introduction and overview
    • Organizational structures for AM
    • Assessing and developing AM competencies
    • Leadership in AM
  • Evaluation and continual improvement
    • Successful changing organizations
    • Communication and culture change
    • Performance evaluation
    • Developing and using performance indicators
    • Continual improvement
    • Governance and assurance for asset management – Auditing and management review
    • Maturity beyond ISO55000


Institute of Asset Management (IAM)

The IAM is the professional body for those involved in acquisition, operation and care of physical assets – especially critical infrastructure. In particular, the Institute is for professionals worldwide who are dedicated to furthering their knowledge and understanding of Asset Management.

The Institute of Asset Management has made a significant contribution to the new discipline of asset management.

Since its inception in 1994, and especially since 2004, the IAM has been growing into a typical Learned Society and has initiated and/or produced many of the globally accepted documents explaining the science and art of asset management.

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