The Institute of Asset Management Diploma is the leading international qualification for people who have chosen asset management as their career path. It is tailor-made for experienced asset management practitioners seeking to consolidate their knowledge and credentials, or secure higher level responsibilities. The IAM Certificate (IAM Principles of Asset Management exam) is a pre-requisite of the IAM Diploma qualification.
An ‘Advanced Asset Management Exam’ is held following the course.
Our unique Asset Management Diploma course doesn’t just prepare you to pass the Diploma exam; it combines action learning, group work and supported research to provide an intellectual challenge, an engrossing learning experience and an expanded professional network. It is designed to develop and stretch your ability in all the main components of an Asset Management System. By the end of it, you will be confident in your knowledge of AM processes and ready to take on additional responsibilities in AM strategy, planning, risk, information and business process improvements.
Our IAM Diploma course consists of seven modules
The modules are delivered face-to-face in small classes of 8 to 12 people, in two blocks of three and four days each. Training is based around individual and small group projects, from developing an AM Policy through planning for ISO 55000 certification, to modelling demand and running a contingency planning exercise.
Our classes provide a wonderful opportunity to share experiences with your peers from other organisations, sectors and backgrounds, and develop your personal skills and professional network. They are taught by expert practitioners who have applied strategic Asset Management thinking and practices in real business situations. There is pre-reading before attending the course, on-line research and preparation required between the two three day blocks, and small group projects to complete afterwards, with tutor support and feedback.
D1: PRINCIPLES OF ASSET MANAGEMENT
This module covers the key principles of asset management. It is a very broad module that draws on modules covered predominantly by the Principles of Asset Management examination. In outline, the module covers what asset management is, why it is important to asset dependent businesses, the relationship with risk, the importance of information management, and, its financial and business impact.
D2: ASSET MANAGEMENT POLICY, STRATEGY AND PLANNING
It is important for those involved with asset management, at whatever level, to know and understand the importance of strategies, policies and plans as drivers of the organisation’s business for the short, medium and long term. An asset management policy is the cornerstone of an organization’s approach to asset management. It provides both the confidence that the organisation is translating its overall organisational strategic plan into effective asset management. The module is also concerned with using the strategic asset management aims and objectives to develop and implement asset management plans.
D3: MANAGING ASSET LIFE CYCLE DECISIONS AND ACTIVITIES
Management of the life-cycle of physical assets, from the decision to acquire or develop new assets through to the specification, procurement, installation, operation, maintenance, repair and refurbishment and, ultimately, decommissioning and disposal.
D4: ASSESSING AND MANAGING ASSET MANAGEMENT RISKS
Anticipation, measurement and management of risk associated with assets, asset management systems and outcomes. Consideration of risk assessment and management, quality assurance, performance, monitoring and evolution and development of asset management systems, considerations of risk as function of cost-benefit analysis, compliance and audits, including regulatory and statutory requirements and the need for feedback, continuous improvement and organisational learning. The requirements for contingency planning and the need to analyse asset or system failures and adjust operational procedures as necessary and appropriate are also covered.
D5: FINANCIAL AND BUSINESS IMPACT
This module deals with quanitfying the financial and business impact of asset management. It includes such issues as making informed decisions about asset management and investments, the need for such decision; the analysis of business needs with regard to asset aquistion or development and the attendant risks, costs and benefits.
D6: PRACTICE OF ASSET MANAGEMENT
This is a scenario-based module. It covers the applications of knowledge, understanding, key principles and professional judgement to situations that could occur in the practice of asset management. It is a very comprehensive and broad based module that draws in the content of modules covered by the Principles and Advanced Asset Management Examinations.
D7: ASSET MANAGEMENT INFORMATION & KNOWLEDGE
This module deals with the critical role of asset data, information and asset knowledge as key enabling factors in strategic asset management and operational activities. The module is concerned predominantly with the definition of asset information requirements and the specifications for selecting appropriate asset management information and knowledge systems.
D8: SUSTAINABLE ASSET CARE & PERFORMANCE
Asset performance must be regularly monitored, and adjustments and changes implemented as necessary. This Module deals with the installation, operation, maintenance, refurbishment and repair of assets throughout the operational life-cycle and takes into consideration the strategic and operational need and ability to anticipate, and meet future market requirements & demands. The module also covers the development and deployment of asset management teams; assuring the quality of asset management processes, monitoring and reviewing progress, the performance of assets, including compliance with a diverse range of requirements.
D9: MANAGING CHANGE IN ASSET MANAGEMENT SYSTEMS AND CAPABILITIES
This Module deals with making sound asset management decisions, the key components of which are the acquisition of appropriate knowledge and the decision-making framework in place in the asset management organization. Decision-making is crucial at all stages of the asset life cycle and should be achieved in a coordinated fashion in order to optimize whole life value of assets.
D10: CONTRACTOR AND SUPPLIER MANAGEMENT
This Module deals with the selection, use and management of external service contractors and suppliers. This includes ensuring that term; and conditions for the supply of goods and services are satisfactory and meet the strategic and policy aims and objectives of the asset management organisation.
D11: DEMAND FORECASTING AND CAPITAL EXPENDITURE PLANNING
This Module deals with the strategic and operational need and ability to anticipate, and then meet, with planned capital expenditures, future market requirements and demands. Using appropriate tools and techniques to analyse current demands and thus predict future demands and costs, and the associated risks, are key aspects of the process.
D12: METHODS FOR REALISING WHOLE LIFE VALUE FROM ASSETS
This Module deals with the operational need and ability to consider, systematically, all relevant costs associated with the acquisition and ownership and disposal of physical assets. This requires the application of whole life costing principles: Determining activity costs and asset values, using costing models and tools, specifying costs for all key stages of the asset management lifecycle, verification of unit cost calculations, and reviewing and updating data and costing processes as required for the life of the asset
For a full guide to our services, please download our Asset Management Academy Prospectus 2019