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Stephen Morris President, IAM
Asset Management – the IAM
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Agenda
IAM?
Asset Management Context
Competency & Qualifications What do we mean by competency? IAM initiatives
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The Institute of Asset Management (IAM)
Not for profit, independent learned society The IAM exists to: • Advance for the public benefit the science and practice of
asset management • Promote and recognise high standards of practice and
professional competence • Generate widespread awareness and understanding of the
discipline
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A Global Institute
Individual, Corporate Members & Corporates Source of good practice & cross-industry thinking. Alliancing and collaborating world-wide IAM is part of the Global Forum on Maintenance and Asset
Management IAM Chapters – UK, Malaysia, (Middle East, USA)
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What is Asset Management?
• Asset: “item, thing or entity that has potential or actual value to an organization”
• Asset Management: “coordinated activity of an organization to realize value from assets”
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What is an Asset ?
• Value on a balance sheet
• Listed in a register (asset repository)
• Value depreciation
• Condition deteriorates
• Benefits from stewardship
• ……………………. Data & Information
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Asset Management Terms
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Core Concepts
• Risk
• Optimisation
• Condition
• Outcomes
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Business Alignment
Alig
nmen
t
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What is BSI PAS 55?
A Publicly Available Specification developed in response to demand from industry for a standard for carrying out asset management
Originally published in April 2004 as BSI PAS 55:2004
Subsequently updated as BSI PAS 55:2008
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What is ISO/PC251?
Tasked with developing 3 International Standards ISO 55000
• Asset management – Overview, principles and terminology
ISO 55001 • Asset management – Management systems -
Requirements ISO 55002
• Asset management – Management systems - Guidelines on the application of ISO 55001
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Importance of Asset function Management of asset systems Focus on the outcome and business context (i.e. CML/CI;
sustainability) Asset Health Health Index Age, condition and risk
Data and information Decision support “Real Time” AM - Static and dynamic data
Growing demand for Knowledge and guidance Demographics and development of competence
AM Challenges
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AM Competency & Qualifications
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Competence
Competence: “The ability to do something successfully or
efficiently”
What people (and organisations) should be able to do, know and understand ……knowledge, attitude and skills
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The Competence Challenge
Maintain current levels of competence
Develop the next generation of asset managers
Assuring the competence of suppliers
Achieving asset management excellence
Capability of an organisation depends on knowledge & competence of employees 4
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The Asset Manager
BusinessManagersLeaders - strategic
Engineers & Technical Specialists
Wide range of specialisms - Mix of strategic & tactical
Operators and MaintainersHighly skilled teams and
individuals-tactical
TimescalePrimary
WorkResponsibility
ShortTermNOW
to3
mths
MediumTerm1mth
to3 yrs
Why
WhatWhen
How
LongTerm2 to 10+ yrs Asset
Manager
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Clear definition of required competences
Supports recruitment, IPD and CPD
Basis for training courses
Free from www.theIAM.org
IAM Competences Framework
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Framework’s seven roles
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IAM Framework
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IAM - Qualifications and CPD
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Qualifications
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IAM Qualifications – targets
IAM Certificate: aimed at those new to Asset Management
IAM Diploma: designed to help existing Asset Managers
The Diploma forms a natural progression from the Certificate, but the two Qualifications stand alone in their own right.
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General Principles Based on IAM Competences Framework
Mapped to specifications and content of: IAM ‘Asset Management – An Anatomy’ (39 subjects) IAM Knowledge Centre PAS 55 ISO 55000 (emerging specifications)
These are not training courses – “self learn” or ….. Courses designed and delivered by ETPs
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IAM Qualifications - Structure
Examinations: delivered and scored on-line open-book exam at exam sessions at IAM Assessment Centres governed by new independent Examinations Board
Certificate 5 modules
Diploma 14 modules (6 mandatory plus 4)
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Benefits
Individual Evidence of knowledge and understanding Supports CPD Recognised internationally Transportable (career; contracts)
Employers Means of evaluating knowledge, understanding and
competence Apply to employees and supply chain Assist in recruitment and CPD
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IAM Training Courses
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International Standard
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Supporting IPD and CPD
Chartered AM
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