The professional body for whole life management of physical assets

IAM: The Institute of Asset Management
March 2011

It was a pleasure to attend the AGM of the Sydney Chapter of the Australian Asset Management Council on my way to the ISO meeting.   Chris Lloyd and I much enjoyed the chance for a Q&A session initiated by a brief presentation of the IAM's thinking on the Landscape and future of qualifications for Asset Management. 

I was also glad to be able to catch up with a number of IAM Members in Melbourne. Thank you for your warm welcome and hospitality.

It was very pleasing to hear warm words and to meet people from all over the world who are increasingly aware of our Institute and the work we are doing.  We continue to work hard to collaborate with relevant bodies internationally, not least by supporting the Global Forum (GFMAM).  Our aim must be to try to promote convergence and minimal duplication of effort as our young discipline matures.

In three year's time (or less when the final draft is published), the effect of the ISO is likely to raise the profile of Asset Management hugely.  In my own opinion, the more we can help make available some clarity and consensus on the theory, the faster the world will be able to adopt good practice - with benefits to us all.



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ISO Update

ISO Project Committee 251 held its first meeting in Melbourne, Australia on 28 Feb to 4 March 2011.  Delegates from 11 of the 23 countries registered as participants in the project were able to attend.  Initial drafts of the three proposed standards had been circulated for comment in November which meant that this first meeting was able to get directly into the detail of the development process with more than 150 pages of comments to address.

An ISO Communique is available on the IAM website with more detail on the meeting and its outcomes.  We would very much like to take this opportunity to thank Standards Australia and the Australian Mirror Committee for hosting the meeting and for their generous hospitality.  Now there are six months of hard drafting work before the next session, which ANSI and the US Technical Advisory Group have invited us to hold in Washington DC in October!

We are delighted that there was unanimous support for naming the ISO Standards in the series 5500x to recognise its heritage and to promote adoption by existing users of PAS55.

Members Conference 20-22 June 2011

Early Bird discounts available if you book now!

The 2-day Members Conference on 20/21 June is followed by a Qualifications Workshop on 22nd.  The Workshop will focus on the emerging Qualifications and how to get involved as well as the latest on the International Accord.

The Conference Theme this year is ‘Innovation for a sustainable future’.  The format of the conference will follow the successful structure of previous years with a good mix of  speakers and interactive workshops followed by  the popular drinks reception and dinner on the evening of the 20th June. 

You won't meet a more interesting or influential group of senior asset managers in a relaxed social setting anywhere else!  The same high qualiity accommodation is available and, once again, the value is unrivalled.  Members who have attended from as far away as Australia and North America have told us the trip was worthwhile!


Certificate & Diploma - consultation

The draft material for the proposed Certificate and Diploma has now been published for you to review.  We are hoping for (and expecting!) lots of comments and constructive criticism...  

If these affect you, don't forget to let us know what YOU think.  Thank you.

Just a reminder that there will be a seminar in London 26 May to consider the launch of the qualifications.  This work is led by the IAM Qualifications & Professional Development Committee.  For more details contact Tim Feest, Project Manager

Dates for your Diary

20-21 June 2011 - IAM Annual Members Conference, Warwick University.  There is an optional Workshop on 22nd June focused on new Qualifications (and uses of the Competences Framework generally). 

29 November - 1 December 2011 - The Asset Management Conference, IET London: Savoy Place.  For more details visit -

30 November 2011 - IAM Annual Lecture and Dinner.  Savoy Place, London.  Details to be added to the website in due course.



Order your Membership Certificate online

We have already had some compliments about the design and appearance of the new Membership Certificates.  Thank you - and we hope more of you will now take advantage of this excellent way to promote the IAM as well as your own membership and commitment to Asset Management.

The A4 certificates can be mailed direct from this office - without frames - for only £10 including P&P and taxes.  The framed certificates are available in a choice of two colours and can be supplied for only £30 including P&P and taxes.  (A PDF will be emailed to you to save removing the certificate from the frame if you need this.) 

Order yours online now (or see the website for more information).

and finally...

As I write this, there are signs of Spring after an exceptionally cold winter here in Bristol.  However, anything we experience in the UK looks negligible when we contemplate recent natural disasters around the world, for example, in Christchurch.  I was lucky enough to holiday in New Zealand last week and you can only admire the spirit and organisation of the local communities as they face up to the challenges.

The horrific events following the earthquake and tsunami in Japan were also brought home to me in a very personal way by the fact that two of the delegates to the ISO meeting in Melbourne are based in and near Sendai.  We are much relieved to be in contact with them at last but I am sure that everyone would join me in wishing them well at this very alarming time.  

As one IAM Member said to me today, our thoughts should also be very much with the engineers battling to control events in the nuclear installations.  I'm sure that any of us with a maintenance background will appreciate what they must be going throughI

I trust that all is well with you as you read this.


David McKeown
Chief Executive

Index to Contents
ISO Update
Members Conference 20-22 June 2011
Certificate & Diploma - consultation
Dates for your Diary
Order your Membership Certificate online
and finally...

March issue of Assets out now

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