The IAM Awards recognise the growing number of outstanding contributions and achievements in asset management, commending those who have worked to improve aspects of an asset management system and generate benefits or enhanced value for society.
Nominations open on 23 February 2018!
The IAM Awards welcome nominations from all countries, and are open to members and non-members alike. Nominations should be supported by a 'nominator' - a senior colleague or mentor who recognises and supports the achievement being put forward for consideration.
So, if you know an individual or team who deserves to have their work in asset management celebrated, let them know!
Shortlisted nominees will be announced in September, and winners will be presented with their awards in November.
If you have any questions about the IAM Awards, please contact us at Awards@theIAM.org.
The IAM Awards celebrate outstanding achievements across the whole scope of the asset management discipline. There are seven categories:
An award to recognise an individual with typically more than five years’ experience of asset management who has made a personal contribution to their organisation or to the wider asset management knowledge base.
An award to recognise an operational team or department in an organisation who have made a significant contribution to their organisation or the asset management knowledge base. The team should consist of people from across the organisation or from people from different organisations.
An award to a project which has achieved a good/notable outcome. Examples of projects could be construction, information systems, business change or research projects.
This award recognises innovation in asset management which has delivered financial, performance and risk reduction benefits.
Originality is key and there is significant emphasis on the contribution made to whole life asset management, risk management, the impact on business performance and innovative methods and practices that have yielded positive results and benefits to the business. Other factors include progress with implementation, integration into the business and the contribution to asset knowledge.
Submissions for this category may include projects such as:
- Development of whole life asset management tools to optimise capital investment, asset renewal or maintenance requirements
- Risk-based approaches to maintenance or inspection
- Innovative asset information systems supporting Asset Management decisions
- Development of risk models to quantify financial, environmental and safety risks
- Development of ‘operational readiness’ capabilities to plan for and respond to major incidents affecting the business and its customers
- Novel approaches to asset and asset management performance measurement and related decision-making
- Novel approaches to competency and the development of asset management skills
- Innovative use of asset knowledge to improve the reliability or efficiency of assets
- New approaches to managing change as asset management is embedded in an organisation
- Novel approaches to asset management strategies and planning
- Fresh approaches to aging assets and strategies e.g. embedding new components into legacy systems to mitigate against broader asset lifecycle costs
The NxtGen Award recognises an individual who is new to asset management (five or less years’ experience). Nominees for this award will have made an outstanding contribution to the implementation and development of asset management, and demonstrate great potential in the field. Achievements may include:
- Outstanding performance in the development or implementation of an aspect of asset management, explaining the personal involvement in delivering a successful outcome
- Excellent understanding of asset management, including the relationship between the various elements of asset management and evidence of how this knowledge has been applied
- Exceptional promise for the future, which may include demonstration of attributes such as leadership, influence, enthusiasm, determination and accountability
- Creativity in approach, which includes imagination, ingenuity, inspiration, inventiveness and originality
- Collaboration with others in the development/ implementation of an asset management project or initiative, such as team work across functions or with supply chain or clients.
Focus can be on one or all of the three areas of safety, environmental and quality. Entries should show how the organisation’s asset management system has benefited through the application of a well-developed approach to the management of safety, the environment and quality management.
Safety entries should demonstrate the use of asset management principles to manage safety better.
Environment entries should focus on how management of softer assets and our natural physical environments (for example interaction of living species and their habitats, management of natural resources and climate change) are just as important as the management of hard assets (physical structures).
Quality entries should show how the quality management system and approach has benefited the asset management system, for example meeting or improving production, operational or performance standards.
This award recognises how understanding, managing and meeting the requirements of customers is an important part of any asset management activity and how a particular approach has benefited the asset management system in respect of meeting customer requirements, and/or improving customer satisfaction and advocacy. Customers can be internal within an organisation, external who receive products and services from an organisation, or stakeholders (e.g. regulators) who influence the success of an organisation.
The Awards Ceremony
The IAM Awards are presented at the IAM Annual Dinner in November. The evening promises a great celebratory atmosphere with fantastic, relaxed networking opportunities! Shortlisted nominees will be invited to attend the Annual Dinner free of charge (for group nominations one individual can attend for free). Nominators of shortlisted nominees are entitled to a 50% discount and are encouraged to attend.
During the evening, the winners and runners up of each IAM Award category will be announced and presented with a certificate to celebrate their achievement.
To read about the excellent projects and achievements recognised by an IAM Award in previous years, browse the IAM News.
View previous winners
Judging the Awards
The IAM Awards are carefully reviewed and judged by a panel of experienced volunteer members, whose ongoing support and commitment is fundamental to the success and prestige of the awards. If you are interested in giving up your time to participate on this panel, please read the requirements below and apply to be a judge if you feel that this is something you are able to do.
An awards judge will support the promotion and communication of the awards. As part of the judging panel, a judge will review and score awards submissions, and provide feedback to the rest of the panel via teleconferences.
What commitment is needed?
The judging process takes place between July and November. Between July and August, we ask for one hour a month of your time. During the three-week judging period in September, this will increase to one half day a week, to include participating in four 1.5 hour teleconferences.
(These times may change slightly but the workload will not be more than what is stated above)
What skills are required?
To be a judge you should have a good understanding of all areas of Asset Management – an Anatomy (IAM Certificate or Diploma). You will also need experience of implementing asset management improvements, and good organisation and communication skills.
Volunteer to be an Awards Judge