Certificate in Asset Management

Course details

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 includes the IAM exam, which will take place on the final day of the course, and certification.

Course Methodology

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

Course Objectives

• 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

Target Competencies

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

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
  • 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