The price of the IAM Certificate for an Individual is £130 (VAT exempt) and IAM Fellows, Members, Associates and Students will be entitled to discount (paying £110). For an initial Launch Period (probably ending in February 2013) we are charging £110 – with a discount for the Member categories listed above
Please note that the IAM Certificate and IAM Diploma are not training courses: they are IAM Qualifications awarded to those who are successful in the related IAM Examinations. The Qualifications are designed to recognise an individual’s knowledge and understanding of asset management, as tested by the examinations. They were formally launched at the IAM Annual Conference at Warwick on 18 June 2012.
Candidates who feel they will need training and preparation for these examinations should contact an appropriate Training Provider.
Each qualification consists of individual Modules dealing with key aspects of asset management: five Modules in the Certificate and fourteen in the Diploma. To gain the Certificate, candidates will be expected to cover the evidence specifications for all five Modules; and for the Diploma, candidates must cover the specifications of the six mandatory Modules and then, in greater depth, the specifications of their selection of four of the eight optional Modules.
You can download full specifications for the Certificate and Diploma from this page.
The contents of the IAM Certificate and IAM Diploma have been mapped to the current Competences Framework, PAS 55, the emerging requirements of ISO 55 000 and the newly-published IAM document ‘Asset Management – An Anatomy’. This means that both qualifications are directly related to current requirements for good practice in asset management.
Click here to register your interest as a candidate in gaining either the IAM Certificate or the IAM Diploma.
(You will be kept informed about developments and news)
If you wish to become an Endorsed Trainer for either the IAM Certificate or the IAM Diploma, please click here to contact us.
(Please find out about our Endorsed Training Scheme first.)
The new IAM Certificate (IAM Cert) and IAM Diploma (IAM Dip) were launched at the IAM Annual Members’ Conference at Warwick University on 18 June 2012.
The IAM Cert is designed for people who are new, or relatively new, to asset management.
The IAM Dip is for people with more knowledge and experience and will help to prepare them for more specialised or managerial roles.
(i) For employees
Achieving the IAM Cert or IAM Dip will be first-hand evidence of your knowledge and understanding of asset management as measured against recognised national and international standards and the IAM Competences Framework.
The IAM Cert and IAM Dip are directly related to the requirements of the workplace and will draw upon your knowledge and experience of the holistic aspects of asset management as well as your work in your chosen area of interest.
The IAM Cert and IAM Dip are designed as part of a progression route, intended for those relatively new to the discipline as well as those with greater experience. However, you can choose the qualification that best suits your personal circumstances: there is no mandatory requirement to achieve the IAM Cert before entering for the IAM Dip.
As awards offered by the IAM, the IAM Cert and IAM Dip will have international recognition and currency. At present there are no other comparable qualifications available worldwide.
(ii) For employers
The IAM Cert and IAM Dip offer employers the means by which they can evaluate and certify the knowledge, understanding and experience of asset management of their workforce. Such evidence is becoming increasingly required in supply-chain management, where contractors must show that they have appropriately qualified personnel.
Registering staff for the qualifications will provide an opportunity to evaluate individual training needs and thus to structure training provision efficiently and cost-effectively.
Using the specifications of the IAM Cert and IAM Dip can help with development of staff career progression and promotion, as individuals express interest in either generalist or specialist roles.
Recruiting new staff will be facilitated as individuals achieve the IAM Cert or IAM Dip. The qualifications will represent evidence of holistic knowledge and understanding of asset management.
Achieving the qualifications
The IAM Certificate and the IAM Dip are NOT training courses. They are qualifications which are awarded to candidates who demonstrate that they have met the evidence requirements.
It is the responsibility of candidates or their employers to decide how best to prepare for the examinations. The expectation is that most candidates will need a substantial amount of training and development, while others will need less and a small minority may need none or very little. It will all depend upon the personal circumstances of the learners.
It will be left to training organisations to determine the best approach to and methods of preparing candidates and assessing their readiness for the examinations. The evidence requirements for the two qualifications provide the basis for designing training courses and assessing learner progress and readiness for the examinations.
IAM Endorsed Trainers
Endorsed Training Providers (ETPs) are organisations which have provided evidence of their ability to meet certain IAM requirements relating to the design, delivery and assessment of asset management training.
In 2009, the IAM established an international network of ETPs to develop and deliver short courses based on a suite of training requirements known as the A1-A2, B1-B6 modules. Please download ‘ETS Schedule of Courses’ for more information.
Existing ETPs: The IAM has invited existing ETPs to decide if they wish to offer training that prepares candidates for either the Cert or Dip. Of course, they need to provide evidence that they can deliver training services that are fully aligned to the contents of the new IAM Qualifications.
New ETPs: Organisations not yet approved as ETPs will be able to apply to become an Endorsed Trainer either to train candidates for the new qualifications or the A1-A2, B1-B6 modules or both.
Any training organisation can prepare candidates for the examinations but the IAM will be recommending to individual candidates and employers that they use an appropriate Endorsed Trainer because these organisations are subject to its quality assurance and verification processes and have demsontrated their knowledge and understanding of these examinations.
Please let us know if you are interested in getting involved in the organisation and management of the IAM examinations (for example, as an examiner or helping to draft questions). You can read more here.
Candidate registration and fees
Anyone interested in achieving the IAM Cert or IAM Dip will need to register as a candidate with the IAM. This allows candidates to engage in professional development activities and helps the IAM provide examination facilities according to demand. It also enables us to inform prospective candidates about changes or other news and, in due course, some self-assessment facilities.
Typically, people will first register as a candidate, then complete a programme of training and development, then apply for entry to an examination. Candidates or their employers will be responsible for arranging any training they consider necessary to prepare for the examination.
A registration fee will be payable to the IAM which will cover registration and one entry to an examination. Where a candidate needs to re-sit an examination, a re-sit fee will be payable on each occasion.
The Costs of Training
Training fees are expected to vary quite widely. They will depend on how much training is required by individual candidates, whether the training is delivered by in-company trainers or external training providers, how many candidates are involved, where the training takes place, what training methods are used etc.
Endorsed Trainers will be able to offer guidance and advice on what training is necessary. Enquiries will be referred to the relevant ETPs.
The Frequently Asked Questions section below will be updated as questions arise.
Q Why has the IAM introduced these new qualifications?
To meet a need in the now global market for asset management - there are, currently, no comparable qualifications available and market research by the IAM during the course of developing the qualifications showed that there are potentially large numbers of individuals who will welcome the opportunity to achieve the IAM Certificate(Cert) or IAM Diploma (Dip). The qualifications will increase the status of asset management as a career choice, enable employers to attract and retain the right staff and give individuals a way of demonstrating their knowledge and skills.
Q Why should I bother to get an IAM Certificate or IAM Diploma? – I already have a graduate qualification.
Employers look for evidence of achievement in specific fields, both for recruitment purposes and as part of career development and progression. The IAM Cert and IAM Dip offer people new to asset management and people who already have some experience the opportunity to provide this evidence – in other words, the ability to demonstrate knowledge and understanding that is based on the latest asset management thinking, internationally recognised standards and the IAM Competences Framework.
Q What’s in the IAM Certificate and the IAM Diploma?
The IAM Cert has five mandatory Modules. The IAM Dip has 14 Modules, of which six are mandatory and eight are options – of which four must be completed. Full details of the content and structure of the qualifications are available on the IAM Website.
Q Are these qualifications training courses?
No. They are publicly available qualifications that show you have the necessary knowledge and understanding of asset management and can apply it. Most people will need training to prepare them for the examinations. The IAM is, in effect, an examinations board.
Q When will the IAM Certificate and IAM Diploma be available?
The qualifications were launched at the IAM Annual Conference on 18 June 2012. Candidates may register now for the Cert (and in 2013 for the Dip). The first examinations for the IAM Cert will be held by the end of January 2013; and for the IAM Dip by the end of April 2013.
Q Do I need to have a first degree to register for the IAM Certificate or IAM Diploma?
There are no pre-set entry requirements. You do not have to be a Member of the IAM.
Q How do I enter for the IAM examinations?
To become a candidate you must register for the exam with the IAM. The relevant Registration Fee, which covers entry to an examination, must be paid at this time. This will allow you to access the online exam portal and practice questions for the exam.
Your registration number should be used in any correspondence with the IAM about the qualifications, including examination registrations and bookings.
If you are already a member of the IAM (you have a Member or Registrant number) you need to enrol
If you are not a member or registrant with the IAM you need to register for the exam here . This will take you to a screen to collect your personal details before paying the exam registration fee.
The IAM recommends that you register for the exam as soon as possible.
When you are ready to take the examination, you will be able to find and book an exam session (on our website) at a convenient IAM Endorsed Assessment Centre. The volume and location of registrations should enable us to decide where and when to hold exams. (The booking system is not yet visible.)
Q What is the difference between registering for and booking an exam?
You register for the exam when you pay the fee and a voucher is issued to you. This voucher is held in your name until you are ready to use it to book an exam session. The voucher does not expire. After you have registered you are able to login to the exam system, which enables you to become familiar with its use and also to use the set of practice exam questions.
You book an exam at the time you choose the venue and date (and ‘spend’ your voucher). You may book your exam quite some time after you register – perhaps because you are still learning.
Q When are the examination sessions held?
They will be held at least quarterly. The first examinations for the IAM Cert will be held by the end of January 2013; and for the IAM Dip by the end of April 2013.
Q Where will the examination sessions be held?
IAM Endorsed Assessment Centres are expected to be arranged anywhere in the world. Candidates need to decide which Centre is most convenient. Attendance may involve travel. The IAM has issued a call for expressions of interest from organisations that may wish to become formally approved as an IAM Assessment Centre. To achieve this, the organisation must provide evidence of having, or being able to develop, the necessary knowledge, experience, resources and facilities to hold examination sessions.
Q What do the examinations consist of?
For the IAM Cert there will be a single examination paper which is expected to comprise multiple choice questions. For the IAM Dip, the examination will be a mixture of multi-choice questions and more reflective questions based on scenarios, case-studies, etc, requiring more thought and analysis
Q Who is responsible for setting the examination questions and marking the papers?
The IAM is establishing an IAM Examinations Board, which will be responsible for deciding the final format and contents of examinations and assessments, quality assuring the examinations process, scoring and marking, and awarding the qualifications to successful candidates.
Q Do I have to attend an Assessment Centre to take the examinations? Can’t I just do it online?
The IAM requires attendance in person at an IAM-Endorsed Assessment Centre for reasons of identification and security. Assessment Centres offer on-line assessment for the IAM Certificate and the IAM Diploma.
Q What happens if I fail the examinations?
You can re-sit the examination for either the IAM Certificate or the IAM Diploma. The fees for repeated attempts are the same as the fees for the initial attempt. If you are using a voucher bought before a price rise there is no extra cost – the voucher does not expire.
Q Where I can find out more?
The IAM Website contains the latest information and guidance relating to the IAM Cert and IAM Dip. The IAM Qualifications Team can deal with specific enquiries: Quals@theIAM.org