The professional body for whole life management of physical assets

IAM Diploma

This webpage provides:

  • An overview of the IAM’s Diploma Qualification, and the related formal examination
  • Links to related webpages and supporting documents to help you understand the examination requirements, how to enrol, options for preparing, booking a seat at an exam, and what to expect when sitting the exam.


Purpose of Diploma: IAM Qualifications are designed to recognise an individual’s knowledge and understanding of asset management. The Diploma is a more advanced qualification whose focus is on breadth and depth of knowledge and understanding, together with the application of professional judgment in practice. To be awarded the Diploma, candidates must successfully pass 2 examinations: ‘Principles of Asset Management’ and ‘Advanced Asset Management’. The Diploma is currently the highest Qualification awarded by the IAM

Who it’s for: The Diploma is aimed primarily at those with prior knowledge and experience of asset management, who are typically holding or preparing for specialist or management roles in asset management.

Enrolling for the Diploma:

The cost to enrol is £180 / US$230 (£160 / US$200  for paying members of IAM)
This covers the enrolment process to sit the Diploma exam. If a candidate opts to re-sit an examination, you would need to purchase another Certificate Voucher or Diploma Voucher.
If a candidate has previously enrolled for, and been awarded, the IAM’s Certificate, they can be assessed for the IAM Diploma by sitting the ‘Advanced Asset Management’ examination. They must, however, enrol for the Diploma within five years of being awarded the Certificate

Preparing for the Diploma: It is anticipated that achieving the standard required for the award of a Diploma involves approx. 350 hours of overall study to prepare for the 2 examinations - ‘Principles of Asset Management’ and ‘Advanced Asset Management’. The preparation time will depend on a candidate’s prior knowledge and experience. The IAM endorses organisations that deliver training aligned to the syllabus for the Diploma (Find Training Courses).

The Examinations: 

The 2 invigilated examinations are delivered online at approved IAM exam venues. Both exams are closed book, which means that printed reference materials or dictionaries cannot be taken into the examination room.

 ‘Principles of Asset Management’ is a 2-hour examination, comprising 60 multiple-choice questions in 5 compulsory modules.

‘Advanced Asset Management’ is a 3-hour examination comprising 70 questions in 7 compulsory modules.
 

Title of Examination

Examination Modules

Number of Exam Questions

Principles of Asset Management

M1

 Principles of Asset Management

20

M2

 Asset Management Policy, Strategy & Planning

10

M3

 Managing Asset Life Cycle Decisions and Activities

10

M4

 Assessing and Managing Asset Management Risks

10

M5

 Finance and Business Impact

10

Advanced Asset Management

M6

 Practice of Asset Management

10

M7

 Asset Management Information & Knowledge

10

M8

 Sustainable Asset Care & Performance

10

M9

 Managing Change in Asset Management Systems and Capabilities

10

M10

 Contractor and Supplier Management

10

M11

 Demand Forecasting and Capital Expenditure Planning

10

M12

 Methods for Realising Whole Life Value from Assets

10

 

Passing both the ‘Principles of Asset Management’ and the ‘Advanced Asset Management’ examinations will lead to the award of an IAM Diploma in Asset Management.

To be awarded the Diploma, candidates will be assessed for both examinations on the basis of:

  • Achieving an overall score of 65% in aggregate across all modules of that examination.
  • Achieving not less than 50% in each of the modules of that examination.


For the ‘Advanced Asset Management’ examination, there is a provision for a candidate to be eligible for a compensatory pass, provided they have only one module in the range 40-49%.

If a candidate opts to sit both examinations on the same day, and:

  • they pass the ‘Principles of Asset Management’ exam but fail the ‘Advanced Asset Management’ exam, they are eligible for the award of a certificate.
  • they fail the ‘Principles of Asset Management’ exam but pass the ‘Advanced Asset Management’ exam, they will not receive either award. They must retake both examinations.


Should a candidate achieve an aggregate score of 75% in both the Principles and Advanced examinations, and have passed all modules in the Advanced Examination at 50% or higher, they will be eligible for the award of a Diploma with Distinction.
 

Supporting Documents

If you are interested in achieving the IAM Diploma we recommend you read the Institute of Asset Management Candidate Handbookwhich covers:

  • the process to enrol for an examination, and the information you will need to provide
  • finding learning resources and training courses
  • how to book an exam session, and the rules with which you must comply for sitting your exam
  • what happens after an exam - whether you are successful or unsuccessful.

 


We also recommend you download and read Guidance for Candidates. This describes elements of the Qualifications in more detail, including:

  • the philosophy behind the qualifications and how they relate to asset management knowledge, understanding and practice;
  • the scope of the individual topics which make up the 5 compulsory modules for the ‘Principles of Asset Management’ examination and the 7 compulsory modules for 'Advanced Asset Management' examination; and
  • the assessment protocols that are used to determine the award of a Diploma.
 

It is important that prospective candidates understand the scope of the topics covered by the examination modules, in order to determine what further study and training they may need to prepare for an examination.

The Guidance also suggests a minimum reading list to prepare for the exam.

 

To find out more about aspects of the IAM’s Qualifications, please use the links below, or the menu options on the left hand side of this page:

IAM Certificate

Enrol for a Qualification

Find training courses

Book an Exam Session

Qualifications Governance


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