The professional body for whole life management of physical assets

IAM Strategy

IAM Strategy, Policy and Strategic Plan

 

IAM Policy August 2016

IAM Strategy August 2016

IAM Strategic Plan June 2017-20

 

The Institute of Asset Management has made a significant contribution to the new discipline of asset management1.

Since our inception in 1994, and especially since 2004, the IAM has been growing into a typical Learned Society and we have initiated and/or produced many of the globally accepted documents explaining the science and art of this embryonic profession. Since the launch of our 2008 ‘Toolkit’ (the revised PAS55, with the Competences Framework, and the PAS55 Assessment Methodology), we have deliberately been working, in the interests both of our members and society generally, towards convergence of global thinking and collaboration.  We have initiated and contributed to many current projects and collaborations, notably the recently published ISO55000 suite of standards and the Global Forum Landscape 2.2

We have a clear brand and increasing recognition as a primary source of information, advice and knowhow.  Our members now need us to improve our focus on supporting the recognition and development of both personal and organisational capability.  During the last two years we have reviewed our aims and aligned our products and services – and now we are transforming our work focus to support both The Corporate Journey and The Individual Journey. 


Our Vision  

To be recognised as the leading, international, professional body for asset management.
 

Transforming the focus of the IAM

The IAM has chosen to give priority to Knowledge activities (defined as non-membership activities events, publications, projects, qualifications and services).  Membership growth and services are not an end in themselves nor a measure of our success.  The IAM’s services to members shall be broadly cost-neutral (ie not a profit stream – our subscriptions will be as low as possible). 

We shall endeavour to serve members well and help them achieve their goals, including supporting members everywhere with their chosen level of activity, either informally or through chapters and branches.  We see the prime purpose of chapters and local activities as being: ‘To Learn / To Share / To Network’.  We shall, particularly, support those joining the profession through NxtGenPlus (a project to help those new to the discipline develop themselves and each other). 

But Membership is a means to the creation and dissemination of useful knowledge – and influencing organisations to adopt and improve their asset management capability, whether large or small and whether private, public, government or not-for-profit.  Our knowledge products must generate sufficient income to fund our continuing search for knowledge, although this will always be in proportion to significant member discount, where this promotes individual capability. 

We shall work with similar bodies having the same objectives, leveraging our influence by creating structured partnering opportunities.  These include: Patrons resourcing knowledge activities; Global Partners with resources and reach; engineering, accounting or other professional bodies promoting convergence and influence; and ‘Preferred Partners’ delivering high quality events and learning. 
 

Our Values:

Independence - Owned and managed by its Voting Members; Free from vested interests, hidden influences or paymasters, particularly our knowledge products / services. 

Inclusiveness - Open to all individuals without regard to race, religion, politics, sexual orientation or other discrimination; Welcoming all sectors and all organisations, large or small, public or private or not-for-profit. 

Collaboration - Recognising and supporting expertise and useful activity wherever it is found; Avoiding unnecessary competition; and sharing knowledge rather than reinventing it. 

Transparency - Good governance of both membership activities and the Institute itself; Knowledge activities and material are actively challenged and peer reviewed openly. 

Integrity - Commitment to continuous improvement by both Institute and our Members and promoting high standards of ethics and behaviour with each other; Requiring adherence to the IAM’s Code of Conduct and dealing with any lapses. 

Respect - Promoting courtesy and professionalism in all our dealings; Accepting that good practice may not be universal and may need adjusting for different cultures and contexts. 
 

IAM Enduring Objectives 

The following aims are defined as ‘Enduring Objectives’ because they do not vary; the IAM’s annual Action Plan, Budget and Work Plans for each year are based on these priorities.   

In pursuing these aims, we will be guided by our key behaviours: include and collaborate, seek convergence of the discipline, celebrate good practice wherever it is found, pursue continuous improvement and inspire the adoption of asset management. 

1. Collect / Collate / Disseminate existing knowledge and good practice  

  • Sector Specific Guidelines
  • The IAM Handbook
  • Knowledge Centre
  • Translations 
  • External sources 
 

2. Generate and extend knowledge and good practices  

  • Engage with academia
  • Maturity and excellence modelling and assessment
  • Engage members on projects
  • Collaborate with other professional associations
 

3. Influence public policy and stakeholder expectations  

  • Engage with targeted new communities, including: finance, maintenance, government, regulators, institutes, academics
  • Case studies
  • Public Position Statements & Green Papers


4. Promote capability and excellence in asset owning organisations or their suppliers and structured schemes for recognising these achievements

  • Corporate Journey
  • Road Maps
  • Recognise excellence and maturity
  • Influence supply chain
  • Educate
  • investor/insurer communities
  • Achievement Awards, both Corporate & Individual


5. Promote knowledge and competence of individuals and objective schemes for recognising these achievements 

  • Body of Knowledge
  • Initial and Continuing Professional Development (IPD/CPD)
  • Qualifications
  • IAM courses
  • Mentoring
  • NxtGenPlus
  • Chartered Status


6.  Deliver Member publications, engagement and networking opportunities and other valuable Member Services

  • Engaging with Members
  • Sections
  • Chapters & Branches
  • Magazine, Journal & Newsletter
  • Events 


7. Raise profile and respect for IAM and the profession Chartered Status  

  • Journal
  • Case studies showing benefits of Asset Management
  • Educate general management and business schools and other influencers 

 
8. Collaborate and support other bodies having similar objectives  

  • Support GFMAM
  • Reach out to targeted professional bodies
  • Endorse complementary publications and standards
  • Collaborate and share Intellectual Property


9. Develop and maintain an appropriate and sustainable organisation 

  • Improve online /self-service for members and others
  • Promote member activity and engagement, especially elections & appointments
  • International coordination of both Knowledge & Member activityies
  • Appropriate secretariat services and contractors
  • Back office systems / processes 
 
 
 
 

 

 

1 defined as: coordinated activities of an organization to realize value from assets 
2 The IAM belongs to GFMAM and has played a leading part in developing the Landscape, see gfmam.org 

 

 


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