The IAM Competences Framework describes what people working in asset management should be able to do and indicates what they ought to know and understand. It is a tool that organizations, managers and individuals can use in numerous ways including in training needs analysis, recruitment and selection, career planning, continuing professional development and workforce management. It is the first and only Framework of its kind.
The Framework contains a single set of generic competence requirements which are applicable to all organizations and sectors where business performance relies on optimising the delivery and performance of physical assets. Its structure is compatible with that of other leading competence frameworks and its contents reflect the principles and support the requirements of BSI PAS 55: 2008.
The Framework was first published in 2006. This comprehensively revised and updated version is the product of extensive consultations with early adopters of the first Framework, as well as with individual and corporate members of the IAM, educators, trainers and other stakeholders.
Download the Brochure for an explanation of its use and contents.
The Competences Framework defines the following key purpose for people working in asset management: 'To Optimise the Delivery and Performance of Physical Assets.' People achieve this Purpose by performing one or more of 7 key Roles, namely:
Key Roles
- Policy Development
- Strategy Development
- Asset Management Planning
- Implement Asset Management Plans
- Asset Management Capability Development
- Risk Management and Performance Improvement
- Asset Knowledge Management
Each Role is broken down into a small number of competence Units, such as “Develop the AM policy”. There are 27 Units in total. Each unit is then subdivided into a small set of elements of competence such as “Assess Policy options using appropriate decision criteria” and “Investigate root causes of asset or system failures or incidents”. This is the level at which assessment takes place.
Underpinning the framework is an indicative list of the knowledge and understanding that might be needed to meet the competence requirements in each Role.
