Levels of Expertise
The Levels of Expertise are used to determine applications for Member and Fellow membership types, as well as for Fellow proposers (the supporting professionals for an application).
In addition to the Key Roles (part of the Competencies Framework) these are the criteria by which potential members can see which level of membership is suitable for them.
|Level of Expertise||Experience|
Consolidating asset management knowledge, the ability to work largely unsupervised on asset management projects and have responsibility for individual deliverables, for example:
Generally, the work of a Practitioner will be subject to checking/review. Practitioners will normally be expected to support less experienced people in developing their asset management knowledge.
A Leading Practitioner holds senior responsibility in an asset management role and typically be, or have been, one of more of the following:
A Leading Practitioner will take significant technical/commercial decisions and 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.
They will have some responsibility for the resources and budget associated with the work they lead and may contribute significantly to the development of an Asset Management Policy and Strategy.
A Leading Practitioner may be responsible for checking the output of staff at a lower level. Some of their work will normally be subject to authorisation/review at a higher level or on an acceptance process by an informed client. In an organisational context, the Leading Practitioner contributes to or is responsible for the professional development of new entrants to the discipline.
A Principal holds current superior responsibility in asset management and will typically be, or have been:
In a business context, a Principal is accountable for the Asset Management Policy and Strategy, including development of new entrants to the discipline, and demonstrates leadership and vision, promoting the benefits of asset management and furthering the objectives of the IAM.
A Principal may have conducted research and development work contributing to asset management knowledge. In these fields, the Principal will be an ‘expert practitioner’, with full technical responsibility for the output of work produced by themselves and by those at a lower level. Their work is not subject to any further checking, and the advice, products and services for which they are accountable may be acted upon directly by others, eg Boards of Directors, uninformed clients, students. When a Principal is advising an organisation, this is normally at the most senior level.