Institute of Asset Management

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.[1] It was instrumental in the development of the international standard ISO 55000 for asset management.

For the AQR Institute of Asset Management at London Business School, see London Business School.
Institute of Asset Management
AbbreviationIAM
Formation2004
TypeProfessional body
PurposeAsset management
Headquarters29 Great George Street, Bristol
Coordinates51°27′11″N 2°36′17″W
Region served
Worldwide
Chief Executive
Kirsten Bodley
Websitewww.theiam.org

History

The IAM was incorporated on 26 February 2004.[2] 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),[3][4] 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.[5][6] Babcock International and Scottish Water were the first two companies to be independently certified by BSI to the new asset management systems standard ISO 55001.[7]

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.[8] The Institute developed endorsement schemes for recommending competent assessors and training providers.[9]

In 2012 the IAM launched the IAM Certificate and IAM Diploma international qualifications.[10] The qualifications were updated in 2019 to meet UK qualifications standards and launched a digital certificate in partnership with Acclaim.[11]

Membership grades

Membership grade is dependent on the individual member's experience and / or formal qualification, whilst a Corporate Membership is also available.[12]

  • Registrant Member (Free)
  • Associate Member
  • Member (awarded the post-nominal letters MIAM)
  • Fellow (awarded the post-nominal letters FIAM)

[13]

References
  1. IAM home page
  2. Companies Houses information, retrieved: 20 February 2015.
  3. BSI PAS 55:2008, Institute of Asset Management. Retrieved 20 February 2015.
  4. Poland, Mike (2010). "Get to know the PAS 55 asset management standard". Reliable Plant. Retrieved 20 February 2015.
  5. What is ISO 55000?. Institute of Asset Management. Retrieved: 20 February 2015.
  6. Water World (13 May 2014) New global ISO 55000 standards for asset management released. Retrieved: 20 February 2015.
  7. Tinham, Brian (23 January 2014). "First two achieve ISO 55001 asset management certification". Plant Engineer. Retrieved 20 February 2015.
  8. IAM Mission Archived 2015-02-20 at the Wayback Machine. Retrieved: 20 February 2015
  9. ISO55000 Auditor Assessor Specification. Institute of Asset Management. Retrieved: 20 February 2015.
  10. https://theiam.org/professional-development/qualifications/
  11. https://www.am-academy.com/iam-certificate-digital-badge-with-acclaim/
  12. "Individual Membership". Institute of Asset Management. theIAM. Retrieved 8 May 2017.
  13. https://theiam.org/membership/join-now/
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