The Institute of Asset Management is a UK-based not-for-profit professional body for those involved in acquisition, operation and care of physical assets, especially critical infrastructure. It was instrumental in the development of the

international standard international standard is a technical standard developed by one or more international standards organization, standards organizations. International standards are available for consideration and use worldwide. The most prominent such organization ...

ISO 55000 ISO 55000 is an international standard covering management of assets of any kind. Before it, a Publicly Available Specification (PAS 55) was published by the British Standards Institution in 2004 for physical assets. The ISO 55000 series of Asset ...

for asset management.

History

The IAM was incorporated on 26 February 2004. It led the production that year of the initial draft document PAS 55, its substantial revision to develop PAS 55:2008 (released in Dec 2008), and contributed to ISO Project Committee 251 between 2010 and 2013 before three international standards (55000/1/2) were launched in London on 5 February 2014.

Babcock International Babcock International Group plc is a British aerospace, defence and nuclear engineering services company based in London, England. It specialises in managing complex assets and infrastructure. Although the company has civil contracts, its main b ...

and

Scottish Water Scottish Water is a statutory corporation that provides water and sewerage services across Scotland. It is accountable to the public through the Scottish Government. Operations Scottish Water provides drinking water to 2.46 million household ...

were the first two companies to be independently certified by BSI to the new asset management systems standard ISO 55001.

Function

The IAM aims to advance the science and practice of asset management, by promoting and enabling the generation and application of knowledge, training and good practice, and help individuals become demonstrably competent. The Institute developed endorsement schemes for recommending competent assessors and training providers. In 2012 the IAM launched the IAM Certificate and IAM Diploma international qualifications. The qualifications were updated in 2019 to meet UK qualifications standards and launched a digital certificate in partnership with Acclaim.

Membership grades

Membership grade is dependent on the individual member's experience and / or formal qualification, whilst a Corporate Membership is also available. * Registrant Member (Free) * Associate Member * Member (awarded the post-nominal letters MIAM) * Fellow (awarded the post-nominal letters FIAM)

References

External links

IAM

Asset Management Academy
{{Authority control Organisations based in Bristol Trade associations based in the United Kingdom Organizations established in 2004 Asset management associations