Principles of Asset Management (with exam for the IAM Certificate in Asset Management)

Asset management is essential to optimize the performance and lifespan of physical assets such as infrastructure, machines, and other capital-intensive resources. As a professional responsible for managing and maintaining these assets, it is important not only to address operational challenges, but also to make strategic decisions that increase your organization’s efficiency and sustainability.

This training provides knowledge and insight to set up your organization according to asset management principles. It offers practical guidance to achieve effective life cycle management based on organizational objectives.

It provides in-depth insight into asset management principles and best practices according to the international ISO 55000 standard. Over five intensive training days, you develop an integrated and strategic approach to managing physical assets, with attention to cost control, risk management, and long-term planning. The training concludes with a formal exam to obtain the globally recognized IAM certificate.

Whether you already have experience in asset management or are just starting with the strategic management of your asset portfolio, this training helps you deepen your knowledge and prepare for future challenges within your organization.

Day 1: Principles of Asset Management

• Introduction to asset management:
  • What is asset management and why is it important for an asset-intensive organization?
  • Cost-benefit analysis of applying the asset management methodology
• Introduction to the IAM Asset Management Landscape Model and the “10-box model,” which provide a representation of a complete asset management system
• Crucial elements of an asset management system
• Asset management strategy, policy and plan:
  • Importance of strategy and policy for an effective asset management approach
  • Translating organizational objectives into asset management objectives
• International standards and norms:
  • PAS 55 and ISO 55000
  • Gap analysis and certification
• Practical examples of asset management implementation programs

Day 2: Asset Management Policy, Strategy & Planning

• Policy and strategy in asset management:
  • The importance of a clear organizational strategy and how it is translated into policy and plans
  • Developing an asset management strategy and policy
• Principles for creating a Strategic Asset Management Plan (SAMP) and an Asset Management Plan (AMP)
• The concept of Line of Sight:
  • Aligning asset management activities with organizational objectives
• Stakeholder involvement in strategy and planning (RACI model)
• Financial considerations in strategy development:
  • Cost/benefit trade-offs and budgeting

Day 3: Managing Asset Life Cycle Decisions and Activities

• Asset life cycle: from creation to decommissioning
  • Needs definition, creation or purchase, commissioning, use, maintenance, and disposal
• RAMS requirements (Reliability, Availability, Maintainability, Safety)
• Sourcing and outsourcing decisions:
  • When do you choose outsourcing?
  • Which contract forms are relevant?
• Vendor management and procurement processes
• Life extension as an option to improve Return on Investment (ROI)

Day 4: Assessing and Managing Asset Management Risks

• Identifying and managing risks in asset-intensive environments:
  • Insight into organizational and asset-related risks
  • Laws and regulations in relation to asset management risks
• Risk management methods:
  • Risk register, risk matrix, and risk assessment
  • Risk-based maintenance concepts
• Stakeholder management and involving stakeholders in risk control
• Implementing risk management processes and improving working methods

Day 5: Finance and Business Impact

• Balance between costs and benefits in asset management:
  • CAPEX (capital expenditures) and OPEX (operational expenditures)
  • Cashflow and financing options
  • Return on Investment (ROI) and Weighted Average Cost of Capital (WACC)
• Long-term maintenance planning:
  • Developing multi-year maintenance and investment plans
• Leadership and change management in asset management:
  • The importance of leadership in implementing asset management strategies
• Coherence between the training topics and their impact on business results

After completing the training, you will have a solid foundation in the principles of asset management in line with international best practices, and you will be prepared for the exam leading to the internationally recognized IAM Certificate in Asset Management.

By the end of the course, you will have gained insight into:

• The principles of asset management and the activities that are part of a complete asset management system.
• How you can contribute from your own role to the further development of asset management within your organization.
• How asset management strategies work: how to develop and implement them so that they align with your organization’s objectives.
• The dynamics of managing the asset life cycle, including maintenance and investment decisions.
• How to integrate financial aspects (such as CAPEX, OPEX, and ROI) into your asset management decisions.

• The classroom training is supported by an e-learning program.
• This e-learning is fully aligned with the IAM Qualifications and is available in English and Dutch.
• We recommend completing the e-learning module for each corresponding training day before the start of that classroom session.

Preparatory webinar

• Approx. 2 hours, online
• Exam preparation with an extensive practice session reviewing the learning content
• Opportunity to ask final questions to the trainers

Exam

This introductory qualification recognizes individual knowledge and understanding of asset management and certifies your understanding of the fundamental principles of asset management.

• The “Principles of Asset Management” exam lasts 2 hours
• It consists of 60 multiple-choice questions across 5 mandatory modules:
  • Principles of Asset Management — 20 questions
  • Asset Management Policy, Strategy & Planning — 10 questions
  • Managing Asset Life Cycle Decisions and Activities — 10 questions
  • Assessing and Managing Asset Management Risks — 10 questions
  • Finance and Business Impact — 10 questions
• To obtain the IAM certificate, candidates must achieve a total score of 65%, with at least 50% in each of the five modules
• The exam is closed book: no reference materials or dictionaries are allowed in the exam room
• The exam is taken in Dutch
• Flexibility to take the exam online or on-site (Pearson Vue)

The “IAM Certificate in Asset Management” is a 5-day IAM Endorsed training delivered by qualified trainers from IES Asset Management. This asset management consultancy is accredited by the IAM (Institute of Asset Management) to deliver this training.

This training is intended for professionals responsible for managing assets in sectors such as industry, infrastructure, construction, food, and pharmaceuticals. It is particularly suitable for asset managers, maintenance managers, and engineers with some experience who want to deepen their strategic asset management knowledge.