The professional body for whole life management of physical assets

Individual Membership

The IAM welcomes anyone to Individual Membership of the Institute.  This PDF is a concise summary of the benefits and arrangements for Corporate Members: IAM Individual Membership 2014 Summarized
 

We also welcome all kinds of organisations to Corporate MembershipEmployees of Corporate Members are entitled to discounts on their Individual Membership subscriptions.

JOIN NOW

One of the most valuable benefits of Membership is access to collaboration and networking with other professionals both face-to-face and virtually.  One of the best ways of learning is to interact with other members and it is true that you tend to ‘get out what you put in’.  In other words, participation is rewarding in its own right, whether by contributing to knowledge projects or helping organise and run the Institute.

Individuals may join simply because they have an interest in Asset Management.  Or you may join to gain and demonstrate competence - and have access to Continuing Professional Development if you are actively engaged in the profession.

There are competence and experience requirements for some classes of Membership.  These are summarised briefly on this page.  The full requirements are explained in downloadable documents.

BENEFITS

The main benefits of Individual Membership of the IAM are:

  • Professional engagement, networking and mentoring
     
  • Discounts on IAM publications, products and events
     
  • Contribute through projects and work groups
     
  • Award-winning ‘Assets’ magazine and our monthly electronic Newsletter
     
  • Personal Development and recognition of competence
     
  • Discounts on IAM online examinations (Certificate & Diploma)
     
  • Post nominal letters (MIAM / FIAM for Members / Fellows respectively) and membership certificates
     
  • Eligible to join NxtGen Plus to enhance personal development
     
  • Annual Lecture & Annual Dinner
     
  • Annual Conference
     
  • Eligibility to stand for election to Council and other ‘IAM Officer’ roles
     
  • Member-only publications & online knowledge
     
  • Regional meetings in a growing number of Chapters and Branches

 

MEMBERSHIP CATEGORIES

Fellow

Member

Associate

Student

 

Normally you will join as an Associate (or as a Student, if you are engaged in a suitable educational programme) and transfer to Member and then to Fellow after gaining sufficient knowledge and experience.  Each of the above categories have access to all membership benefits.  Members and Fellows are also ‘Voting Members’ and, in effect own the Institute.

You may also choose to become an Affiliate OR join our mailing list free of charge

Affiliate (maximum 12 months)

Mailing List

 

SUBSCRIPTIONS AND DISCOUNTS

The price of initial membership is shown below and there is a Joining Fee of £30.

If you pay your subscription promptly each year, your renewal is reduced by a Prompt Payment Discount and this price is shown in brackets.  (Prompt payment means that you pay your subscription before the renewal date or by direct debit if available to you.)

If your employer is a Corporate Member your Joining Fee of £30 is waived.

If your employer is a Corporate Member the Prompt Payment Discount is increased.

 


Student                                                                 
£25  (Prompt renewal £15)
Employee of Corporate Member £15  (£10)

 

 

 

A Student Member of the IAM must currently be in recognised full or part time education (or have recently completed such education and not yet employed). 

You must provide evidence of enrolment and timescales and the course must be recognised / acceptable to the IAM.  Student Membership must terminate no later than the end of the membership year following that in which a full or part time educational programme is completed.  Students often have further significant discounts to member events and services and may participate in NxtGen Plus.

If your educational establishment is a Corporate Member
this entitles you to the same discounts as employees of other Corporate Members.


Associate
£115  (Prompt renewal - £105)
Employee of Corporate Member £95  (£85)



An Associate of the IAM is someone who EITHER aspires to become a Member / Fellow OR simply has an interest in the activities of the IAM and may remain in this category permanently. 

Participation in IAM activities will help you to expand your knowledge and Associates may join NxtGen Plus. There are no entry qualifications to become an Associate.

 


Member (MIAM)                                
£115  (Prompt renewal - £105)
Employee of Corporate Member £95  (£85)




Applicants for MIAM must be supported by a Proposer, who need not be a member of the IAM (or competent in asset management).  Proposers will be expected:

a.   To be able to verify the applicant’s claimed responsibility and experience;

b.   To certify copies of degree or other professional certificates and evidence;

c.   To state that the applicant is suitable to be a member of a professional body and, in their opinion, be satisfied that the applicant will abide by and uphold the IAM’s Code of Conduct.
 

You must meet ONE of the following criteria:-

1.     Achieved the IAM Certificate by examination; followed by at least 24 months experience working in an asset management role as a Practitioner or higher in at least three of the seven Key Roles; OR

2.     Achieved the IAM Diploma by examination, followed by at least 12 months experience working in an asset management role as a Practitioner or higher in at least three of the seven Key Roles; OR

3.     Higher degree (MSc/MBA etc) in Asset Management on a programme acceptable to the IAM followed by at least 12 months experience working in an asset management  role as a Practitioner or higher in at least three of the seven Key Roles; OR

4.     A first degree in a relevant subject and at least 36 months experience working in an asset management role as a Practitioner or higher in at least three of the seven Key Roles; OR

5.     Chartered Membership of another relevant professional body with at least 12 months experience working in an asset management  role as a Leading Practitioner, or 36 months as a Practitioner in at least three of the sevenKey Roles; OR

6.     No academic qualifications or formal training but at least 7 years’ experience working as a Practitioner or above in at least three of the seven principal activity areas identified in the IAM Asset Management Competences Framework with current responsibility as a Leading Practitioner in at least 2 of the seven Key Roles.

 

The changes to the membership arrangements will be implemented in phases over the coming months – please look out for further announcements.  If you have a part-completed application in the current system, we recommend you complete and submit it as soon as possible or you may have to start the application process again under the new system.  The dates after which applications will not be accepted and processed under the existing system will be announced shortly.

 


Fellow (FIAM)  available later in 2014                      
£115  (Prompt renewal £105)

Employee of Corporate Member £95  (£85)

 

Applicants for FIAM must be supported by two proposer(s) one of whom has a deep understanding of the areas of responsibility claimed at Expert Practitioner level and a second proposer who has a broad experience and understanding of asset management at a senior level.

Proposers will be expected:

a.   To be able to verify the applicant’s claimed responsibility and experience;

b.   To certify copies of degree or other professional certificates and evidence;

c.   To state that the applicant is suitable to be a member of a professional body and, in their opinion, be satisfied that the applicant will abide by and uphold the IAM’s Code of Conduct.

 

You must meet ALL of the following criteria:-

1.     You have been MIAM for at least 3 years;

2.     You have completed the IAM’s Register of Expertise;

3.     You have held at least 7 years of senior responsibility as a Leading Practitioner in at least three of the seven Key Roles  (If you became MIAM before 2014, the requirement is for 10 years of senior responsibility at Leading Practitioner or higher.);

4.     You can demonstrate current superior responsibility as an Expert Practitioner in at least two of the seven Key Roles.

Note: You may be asked to provide a portfolio of supporting evidence and/or undergo a professional interview (this may be online).

 

The full requirements will be made available as a download document
when the availability of FIAM by application is announced.

Retired Discount                                                          
£60 (Prompt renewal - £50)

If you have retired from all income earning employment or self-employment, you are entitled to retain your previous membership status (Associate / Member / Fellow) at half price.  This entitles you to all the benefits and privileges of that membership category.

 

OTHER CATEGORIES

Affiliate
FREE but limited to 1 year

The benefits are more restricted but include:

·       Monthly electronic Newsletter

·       Access to a limited range of download material

·       Contribute through projects and work groups

·       Regional meetings in a growing number of Chapters and Branches

·       Eligible to join NxtGen (social activities only – not NxtGen Plus)

 

You must join the IAM as a paying Individual Member within 12 months as an Affiliate or you will be transferred to our Mailing List only.


Mailing List
FREE

The benefits are more restricted but include our electronic Monthly Newsletter and occasional general mailings.
 

Honorary Fellow (HonFIAM)

Honorary Fellows are appointed by the Board on the advice of Council to the purely honorific category of (HonFIAM).  Honorary Fellows are likely to be people who have either led the development 

of thinking and/or practice in the field of Asset Management and/or have made a significant contribution to the development and reputation of the IAM.


 

UK Taxpayers - Reclaim your Subscription!

HM Revenue & Customs has approved the IAM as a Learned Society for the purposes of reclaiming your membership subscription.

 In case you wish to provide evidence to your employer or accountant, the list may be viewed at www.hmrc.gov.uk/list3/list3.htm  or downloaded direct from our website.

 

   Key Roles (as defined in the IAM’s Competences Framework)

1

Policy development

2

Strategy development

3

Asset management planning

4

Implement asset management plans

5

Asset management capability development

6

Risk management and performance improvement

7

Asset knowledge management

 

 

Definitions of Levels of Expertise

Level A

No experience or competence – developing asset management knowledge and experience

Level B

 

Practitioner

Consolidating asset management knowledge:  will be able to work largely unsupervised on asset management projects and having responsibility for individual deliverables.  Examples might include:

•         Condition surveys

•         Implementing an asset management or maintenance plan

•         Developing asset data acquisition systems specified by others

•         Cost/ benefit/ risk analyses

•         Whole-life costing studies

•         Compiling maintenance and renewal schedules

•         Delivering training courses in asset management practice at Certificate/ Diploma level

•         Contributing by studies/ papers/ analysis to the development of policy and strategy for an employer or clients

Generally, the work of a practitioner will be subject to checking/ review by a person working at a higher level. 

Practitioners will normally be expected to support less experienced people in developing their asset management knowledge.

Level C:

 

Leading Practitioner

Will take technical decisions typically at project/ section leader/ senior consultant level and will be able represent the asset management discipline effectively in discussions with both professionals in other disciplines and senior management who may not have asset management experience or knowledge.

The Leading Practitioner may make a significant contribution to the development of an organisation’s Asset Management Policy and Strategy and be responsible for the development and/or implementation of Asset Management Plans and the performance of operational assets under his or her control. 

A Leading Practitioner may be responsible for checking the output of staff working at a lower level.  Some of a Leading Practitioner’s work will normally be subject to authorisation/ review by a person working at a higher level or an acceptance process by an informed client. 

A Leading Practitioner may have responsibility for defining or devising training and development material or development plans for new entrants to the discipline. 

The Leading Practitioner will have some responsibility for the resources and budget associated with the work he or she leads.

Level D:

 

Expert Practitioner

Will be a ‘seasoned professional’ in asset management and will typically be either a senior manager in an asset-owning organisation, a recognised and eminent expert in asset management engaged as a consultant or someone who is accountable for the development and implementation of IAM-recognised training courses at an educational establishment. 

The expert practitioner may have conducted research and development work and contributed to the asset management body of knowledge.  The expert practitioner will have full technical responsibility for the output of work produced by him/herself and those working at a lower level.  His/her work will not be subject to any further checking and the products and services for which he or she is accountable may be acted upon directly by others, e.g.  Boards of Directors, uninformed clients, students. 

The expert practitioner may be accountable for a business’s asset management policy, and strategy, including development of new entrants to the discipline, and will be expected to show leadership and vision, promoting the benefits of asset management and furthering the objectives of the IAM. 

The expert practitioner will often have control of the budget and resources to deliver an organisation’s asset management plan or be advising an organisation at the most senior level.

 

 


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