1 The IAM Competences Framework

The Requirements: Version 1 November 2008

The IAM Asset Management Competence Requirements Framework

© Copyright The Institute of Asset Management 2008. All rights reserved. www.theIAM.org
 The IAM Competences Framework Version 1.0
Part 1: Asset Management Competence Requirements Framework November 2008
Contents
1 Introduction 3
2 Competence in Asset Management 4
3 Development of the 2008 Framework 5
4 Structure of the 2008 Framework 7
5 Detailed Contents of the 2008 Framework 8
Role 1: Policy Development 8
Role 2: Strategy Development 10
Role 3: Asset Management Planning 12
Role 4: Implement Asset Management Plans 14
Role 5: Asset Management Capability Development 16
Role 6: Risk Management And Performance Improvement 18
Role 7: Asset Knowledge Management 20
6 Importing Units of Competence From the 2008 Framework 22
7 Contributors 22
8 References 23
9 Disclaimer 23
10 About the IAM 23
11 Our Objectives 23
12 Contact us 23
2 © Copyright The Institute of Asset Management 2008. All rights reserved.
The IAM Competences Framework Version 1.0
Part 1: Asset Management Competence Requirements Framework November 2008
Introduction
When the Institute of Asset Management (IAM)
published its Competency Requirements Framework
in June 2006 it was a world first. The Framework
describes what people involved in the management
of physical Assets should be able to do and the
knowledge and understanding needed to underpin
this. With the launch of the second version of the
Framework in November 2008, the IAM is still leading
the way.
The 2008 Framework describes what people working
in Asset Management should be able to do and
indicates what they ought to know and understand.
It is a tool that organisations, managers and individuals
can use in numerous ways including Continuing
Professional Development, Business Planning and
Workforce Management. It paves the way for the
development of integrated competence based training,
education and qualifications for people working in
Asset Management.   
© Copyright The Institute of Asset Management 2008. All rights reserved.
The 2008 Framework contains a unified set of generic
competence requirements which are applicable to all
organisations and sectors where business performance
relies on the availability, maintenance and renewal
of physical Assets. Its structure is compatible with
that of other leading competence frameworks and its
contents support the principles and scope of BSI PAS
55: 2008.
The development of the 2008 Framework has been led
by the IAM Membership Committee which has a
remit to:
• Develop, publish and maintain competence
requirements for people working in
Asset Management.
• Provide guidance support to users of the
competence requirements.
• Facilitate accreditation of individual competence
against these requirements in ways that are valued
and comparable across industry sectors.
• Facilitate the provision of Asset Management
training and education programmes based on these
requirements.
• Facilitate the development of nationally and
internationally recognised accreditation options for
people working in Asset Management.
NB: “The IAM makes this Framework available for use
without charge.” Use of all or part of this Framework
constitutes agreement to the Terms & Conditions for
use set out in full on the Institute’s website.
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 The IAM Competences Framework Version 1.0
Part 1: Asset Management Competence Requirements Framework November 2008
Competence in Asset Management
Asset Management requires a multidisciplinary
approach. In many respects, it is not a new discipline
so much as a new amalgamation of existing ones.
However, it takes thinking about physical assets to
a new level through its holistic approach and focus
on ensuring that assets are used to deliver business
objectives in an optimised and sustainable manner.
It embraces competences in engineering, financial
management, operations, business management and
people development. The precise mix of competences
needed to deliver Asset Management strategies,
plans and projects effectively depends on the context
and circumstances in which these things are done.
Arising from this is one of the major challenges in
defining Asset Management competences, that is how
to avoid focusing too much on the components of
Asset Management such as system engineering and
maintenance techniques and concentrate instead on
what someone needs to know about these in order
to leverage the contribution they make to the delivery
of Asset Management strategy and objectives. For
example, it may take an information management
specialist to define an asset information system but an
asset manager should be able define its requirements.
For many organisations, developing and assuring the
competence of people working in Asset Management
4 © Copyright The Institute of Asset Management 2008. All rights reserved.
is an essential precursor to delivering improved
business performance.
Defining and giving recognition to Asset Management
competence will:
• Stimulate and guide those who are responsible
for ensuring that sufficient numbers of competent
people are available to meet the demands of the
future as well as those of today.
• Provide employers with a means of managing
risk associated with the selection, training and
deployment of Asset Management staff and the
ways they carry out their work.
• Generate the information on competence that
organisations need to plan and deliver their work
efficiently.
• Assist organisations and individuals to respond more
effectively to change.
• Help individuals plan their training and development.
The IAM Competences Framework Version 1.0
Part 1: Asset Management Competence Requirements Framework November 2008
Development of the 2008 Framework
The 2008 Asset Management Competence • The Framework needs to be applicable to all sectors
Requirements Framework is the 2nd version to be where Asset Management is important not just
produced by the IAM and is the product of extensive engineering based industries.
consultations. It replaces the 1st Framework which was • It is unclear how the three levels of achievement
published in 2006.  (Foundation, Professional and Mastery) are linked to,
or support progression – the gaps between the levels
The Framework is designed to support good practice
are too large.
Asset Management and in particular the embedding of
• More guidance is needed on how to assess
Asset Management systems compliant with BSI PAS 55:
competence against the requirements and how much
2008. To ensure it is fit for purpose, the following steps
evidence is enough.
were taken to develop it:   
 
2) A first draft 2008 Framework was developed
1) Feedback received from users of the 2006
to reflect the main points of user feedback. Two
Framework was reviewed to understand
workshops were held involving members of the IAM
how its structure and content could be
Membership Committee supplemented by volunteer
improved.  Organisations like Tubelines and National
IAM members from Serco and NATS. A functional
Grid had used it to identify individual learning
mapping exercise was undertaken which identified the
requirements, produce personal and professional
functions that managers undertake in the workplace.
development plans, derive recruitment and selection
This led to the development of a purpose statement and
criteria, specify and review the competence
functional map featuring six key Asset Management
requirements of Asset Management teams. Educators
roles.  For each key role, units and elements of
such as Leeds University and the National School of
competence were identified.
Government used it to develop curricula for graduate  
and professional training courses. Individual asset The first draft also reflected the need to keep pace with
managers used it to help them plan their careers important changes taking place in the UK qualifications
and articulate their knowledge and experience to and accreditation system, namely the launch of the
promotion panels and new employers. Training Credits and Qualifications Framework (CQF) in May
organisations and universities used it to structure 2008. For this reason, the approach taken to designing
courses and curricula. The main feedback was the 2008 Framework is the same as that used in the
that the framework was much needed and should design of qualifications recognised within the CQF
be developed further. Several specific areas for and, therefore, consistent with the requirements and
improvement were identified, as follows: principles operated by the Qualifications Curriculum
Authority (QCA) and the Scottish Qualifications
• The linkages with other related competence
Authority (SQA). It also ties in with lessons learned from
frameworks need to be strengthened.
best practice competence management systems in the
• The competence requirements need to be simplified
safety critical industries.
– there is too much overlap and in some cases the
requirements are too complex to assess or develop
3) A consultation document incorporating the draft
people against.
units and elements of competence was sent to over 400
• The structure and format of the Framework needs
members of the IAM and a further group of interested
to align better with established good practice
parties. Over 50 responses were received and this
approaches.
feedback was used to make amendments to the draft
• More emphasis is needed on sustainability, ethical
standards. In some instances draft units were expanded
practice and climate change.
© Copyright The Institute of Asset Management 2008. All rights reserved. 5
 The IAM Competences Framework Version 1.0 The IAM Competences Framework Version 1.0
Part 1: Asset Management Competence Requirements Framework November 2008 Part 1: Asset Management Competence Requirements Framework November 2008

Structure of the 2008 Framework

to incorporate more elements, whilst in others elements
were removed on the grounds that they were already
published in other related competence frameworks.  of experts from the fields of Asset Management,
4) Meetings were held to review the first draft with
owners of related competence frameworks to better
understand how the 2008 Framework should be
constructed to avoid overlap in areas such as business
management and engineering and enable its units
of competence to be exported easily by qualifying
bodies or educational establishments which might
want to use them to create additional accreditation
options or modules. These meetings also considered
how the Framework could be designed to maximise
its appeal across industry sectors and professions. As
a result of these meetings, the decision was taken to
include contents drawn from other well-established
competence frameworks, namely the UK Management
& Leadership Standards and Engineering Competence
Reference Standards.
5) A second draft 2008 Framework was produced and
reviewed with over sixty delegates at a seminar held
at the Institution of Engineering and Technology (IET)
in London in June 2008. Delegates were organised
into groups and facilitated through exercises designed
to give them hands on experience of using the
draft Framework to carry out certain tasks. Based
on feedback from these exercises, numerous minor
wording and positioning changes were made to the
elements of competence along with the following
major changes. The key role relating to Policy and
Strategy was split into two as part of a move to make
the Framework shallower and wider which delegates
felt would increase its adaptability to different types
of use. It was also decided to replace the Essential
and Desirable Topics which featured in the 2006
Framework in favour of a set of the suggested
competence profiles which feature in the guidance on
using the 2008 Framework.
7) A final draft was produced and issued to a group of
peer reviewers for comment. This group was formed
competence and assessment and accreditation.
The 2008 Framework contains less units of competence
than the 2006 Framework which users felt was too
detailed in places, difficult to assess against and
repetitive. Reducing the number of units was made
possible because although people working in
Asset Management operate at different levels of
responsibility, feedback from users indicates that what
they do does not vary widely across organisations.  1
In addition, knowledge and understanding
requirements, behavioural objectives and personal
skills have been separated from the units and elements
of competence. Lists of relevant knowledge and
understanding requirements have been grouped for
each of the seven key roles. This follows the approach
taken by other related competence frameworks such
as the Engineering Competence Reference Framework.
All the knowledge and understanding requirements
incorporated in the 2006 Framework has been c
arried forward.
Behavioural objectives and personal skills have been
removed from the 2008 Framework on the grounds
that there is no need or case for the IAM to publish its
own when validated frameworks and models are readily
available in the public domain.
If the history of competence frameworks tells us one
thing, it is that they are constantly evolving bodies of
work. It is intended that the 2008 Framework will
be subject to incremental change using feedback
collected from its growing user base. This follows the
approach pioneered by the publishers of the successful
Management and Leadership Standards and now
regarded as best practice.
The 2008 Framework defines the following key purpose
for people working in Asset Management:
Key Purpose
To Optimise the Delivery and Performance
of Physical Assets
This key purpose has to be achieved in 7 key
roles, namely:
Key Roles
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
Each role is broken down into a small number of
competence Units, such as “Develop the AM policy”.
There are 27 Units in total. Each unit is then subdivided
into a small set of elements of competence such as
“Assess Policy options using appropriate decision
criteria” and “Investigate root causes of asset or
system failures or incidents”. This is the level at which
assessment takes place.
The 2008 Framework sets out generic competence
requirements for people working in Asset Management.
&P
Different selections of the Units and Elements of
competence may be appropriate to senior experienced
staff in managerial roles, to specialists with asset specific
or technical responsibilities or to new entrants to
Asset Management teams.
Organisations seeking to improve their
Asset Management systems and performance need to
ensure they have people suitably competent people in
place. The Framework is a tool organisations can use to
decide the mix and depth of competences they require
in their Asset Management teams. For this reason, it
is the responsibility of users - be they organisations,
managers, individuals, assessors, educators or trainers
- to determine how well these requirements should be
met. This will involve specifying Performance Criteria
for relevant elements of competence and defining the
evidence that will be needed to prove these criteria
have been met and how this will be collected and
judged. The document ‘Guidance on Using the 2008
Competence Requirements Framework’ describes how
to do this.
Underpinning the framework is an indicative list of the
knowledge and understanding that might be needed
to meet the competence requirements. Part of the task
of specifying Performance Criteria is to define these
requirements and how they should be met in more detail.
The following diagram is a summary of the 27 Units
of Competence in the 2008 Framework and their
distribution across the 7 Key Roles.

 
If you have any comments on any aspect of the 2008
6) A third draft was produced and a small team from
Framework please let the IAM know either by writing
National Grid compared this with the contents of BSI
to the address given in the Feedback section of this D

PAS 55: 2008 to identify gaps in coverage and necessary

document or via the Feedback section of the IAM
changes in the structure.
website, www.theiam.org

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 The IAM Competences Framework Version 1.0 The IAM Competences Framework Version 1.0
Part 1: Asset Management Competence Requirements Framework November 2008 Part 1: Asset Management Competence Requirements Framework November 2008

Detailed contents of the 2008 Framework

The following tables show the detailed contents of the and understanding that is considered most relevant.
Framework. Each Role is presented separately and is The latter is not exhaustive and is indicative only.
followed by a generic list of the underpinning knowledge

Note that AM is used in place of Asset Management throughout.

Role 1 POLICY DEVELOPMENT

Summary These units ensure that AM activities are aligned with and achieve the organisational strategic
plan. As defined in BSI PAS 55: 2008, an AM policy is a set of principles and mandated
requirements derived from and consistent with the organisational strategic plan, providing a
framework for the development and implementation of the AM strategy and the setting of AM
objectives. Policy-making involves deciding on a definitive course or method of action, selected
from alternatives, to guide and, often, to determine present and future AM decisions.

Unit 1.1 Analyse Policy Requirements

E1.1.1 Define the corporate goals the AM Policy must help achieve
E1.1.2 Define the stakeholder requirements the AM Policy must address
E1.1.3 Define the opportunities and constraints the AM Policy must take into account
E1.1.4 Define the stakeholder groups and socio-economic issues the AM Policy must take into account

Unit 1.2 Develop the AM Policy

E1.2.1 Define the decision criteria for selecting amongst Policy options
E1.2.2 Assess Policy options using appropriate decision criteria
E1.2.3 Define the AM Policy goals and aspirations
E1.2.4 Define the implications of the AM Policy for all stakeholders
E1.2.5 Make effective use of internal and external expertise in the development of AM Policy
E1.2.6 Make sure stakeholders are engaged in AM Policy development as appropriate

Generic Knowledge & Understanding Requirements of Role 1

The organisation’s strategic plan
The organisation’s risk management framework
Relevant other organisational policies and strategies
Legislative and regulatory frameworks
How to develop Policy options and compare and assess their benefits and impacts.
Policy decision criteria and development processes
Relevant developments in the business environment and the changes these cause in stakeholder expectations
Stakeholder management and consultation processes
The impact of changing economic/stakeholder expectations on the long term management of assets

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 The IAM Competences Framework Version 1.0 The IAM Competences Framework Version 1.0
Part 1: Asset Management Competence Requirements Framework November 2008 Part 1: Asset Management Competence Requirements Framework November 2008

Role 2 STRATEGY DEVELOPMENT Generic Knowledge & Understanding Requirements of Role 2

Summary These units are about providing strategic Asset Management direction and leadership and include The organisation’s strategic plan
identifying strategic requirements, demand analysis and forecasting, and strategy development.
This role is essential to ensuring that Asset Management activities are focused on and achieve Relevant other organisational policies and strategies
organisational objectives Legislative and regulatory frameworks
How organisational AM strategies support business goals
Unit 2.1 Analyse Strategic Requirements
AM strategies and how these are reflected in AM objectives and plans
E2.1.1 Define the AM Policy aims and objectives the AM Strategy must achieve and support
The inter-relationship of business and AM processes.
E2.1.2 Define all risks the AM Strategy must take into account
E2.1.3 Define the constraints the AM Strategy must take into account Content and applicability of relevant business excellence models
E2.1.4 Define the implications of current and forecast asset condition for AM Strategy development The strengths and weakness of relevant business process excellence models
E2.1.5 Analyse the current and future customer requirements the AM Strategy must take into account Identification of appropriate metrics for analysis and interpretation of information to track the
E2.1.6 Define the legal, social, environmental and economic factors and trends the AM Strategy business benefits of AM Strategies
must take into account How to develop strategic options and compare and assess their benefits and impacts
E2.1.7 Define the stakeholder groups the AM Strategy must take into account
Competitor analysis methods and techniques
Relevant developments in the business environment and the changes these cause in stakeholder expectations
Unit 2.2 Forecast and analyse future user requirements and demands
E2.2.1 Use effective tools and techniques to analyse current demands Market analysis, econometric modelling

E2.2.2 Use historical data to support forecasts of demand and costs Managing working capital

E2.2.3 Use effective tools and techniques to forecast costs and demands Cash flow forecasting

E2.2.4 Forecast and assess relevant external products and technological developments Asset condition assessment and degradation modelling
and the effects of these
Cost forecasting, budget preparation and management
Commonly used accountancy terms and conventions
Unit 2.3 Develop the AM Strategy
E2.3.1 Define the aims and objectives of the AM Strategy Benefit tracking and the selection and use of appropriate methods

E2.3.2 Develop key strategies for the overall system, asset portfolios and/or asset groups that support Stakeholder management and consultation processes
strategic aims and objectives
The effect of stakeholder expectations on AM plans
E2.3.3 Define the expected outcomes of all AM strategies
The impact of changing economic/stakeholder expectations on the day-to-day management of assets
E2.3.4 Make sure stakeholders are engaged in the strategy development process as appropriate
The impact of changing economic/stakeholder expectations on the long term management of assets
E2.3.5 Make effective use of internal and external expertise in strategy development
Organisational stakeholders, their interfaces and how their requirements are reflected in the organisation’s
strategic plan and business goals
Unit 2.4 Plan the implementation of the AM Strategy
Environmental management standards and excellence models
E2.4.1 Define, prioritise and optimise the AM Strategy
Sustainability principles and the application of sustainable development excellence models
E2.4.2 Prepare financial projections using suitable best practice models
The implications of severe weather and climate change
E2.4.3 Prepare business plans using suitable best practice models
E2.4.4 Define requirements for market research, systems development and management team-building
E2.4.5 Define how the effectiveness of the AM Strategy will be measured and monitored

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 The IAM Competences Framework Version 1.0 The IAM Competences Framework Version 1.0
Part 1: Asset Management Competence Requirements Framework November 2008 Part 1: Asset Management Competence Requirements Framework November 2008

Role 3 ASSET MANAGEMENT PLANNING Unit 3.5 Develop and communicate AM Plan(s)
Summary These units are about how you identify, appraise optimise and prioritise options, and develop E3.5.1 Specify the range, volume and quality of AM activities and projects needed to achieve
effective Asset Management plans for implementing the AM strategy and delivering the AM Strategy
the AM objectives. E3.5.2 Define objectives and performance indicators for all AM activities and projects which
align with the AM Strategy
Unit 3.1 Appraise investment options E3.5.3 Define, monitor and review the effectiveness of planning and communication processes
E3.1.1 Define criteria for identifying and evaluating investment options E3.5.4 Define and justify asset group strategies and specific asset policies
E3.1.2 Identify investment options for achieving the AM Strategy and AM objectives E3.5.5 Develop an AM Plan which describes how Asset Management activities and projects
will be resourced, managed and evaluated
E3.1.3 Analyse the costs, risks and benefits of investment options
E3.5.6 Define resources and services required to deliver the AM Plan(s)
E3.1.4 Select and justify the most appropriate investment options
E3.1.5 Evaluate detailed investment plans

Generic Knowledge & Understanding Requirements of Role 3

Unit 3.2 Apply whole life costing principles Investment appraisal and optimisation techniques
E3.2.1 Identify how costs of AM activities and asset values should be determined
Value-for-money criteria and financial evaluation methods
E3.2.2 Identify appropriate whole life costing models
Optioneering tools, methods and techniques for reviewing options and their impact on integrated
E3.2.3 Specify costs for all key stages of the AM lifecycle system effectiveness
The complexity, impacts and priorities of critical projects and multiple projects
E3.2.4 Develop business cases using unit cost data
Project management principles and the importance of operating to cost, quality and time obligations
E3.2.5 Make sure appropriate decision support tools are available
Relevant internal and external communications process and procedures
E3.2.6 Define the process for tracking, analysing and verifying unit cost data
Incident and emergency response and recovery standards and procedures
E3.2.7 Update whole life cost calculations when unit costs change
Cost and performance analysis methods and techniques
E3.2.8 Identify improvement actions through periodic unit cost reviews
Materials, logistics and supply chain management

Unit 3.3 Create and acquire assets Resource planning

E3.3.1 Analyse business needs for the creation and/or acquisition of assets based on the Design and use of KPIs and balanced scorecard techniques
requirements of the AM Plan(s)
Principles and methods of strategic management and business planning
E3.3.2 Specify appropriate performance indicators for whole life assessment of asset
creation and/or acquisition. Communicating plans to people effectively
E3.3.3 Assess the costs, risks and benefits of competing asset creation and/or acquisition options
How to monitor and review implementation of and performance against the plan
E3.3.4 Prioritise investment projects based on their total business impact.
The importance of identifying ways in which future planning can be improved
E3.3.5 Prepare business cases which evaluate the costs, benefits and risks of proposed solutions
Procurement strategies applicable to the acquisition/creation of assets
based on the AM Plan(s).
E3.3.6 Identify risks in the commissioning process and assess their impact on current operations
and AM activities.

Unit 3.4 Plan for contingencies

E3.4.1 Identify asset related risks
E3.4.2 Identify potential disruptions to critical AM activities
E3.4.3 Plan the most appropriate responses to incidents and emergencies
E3.4.4 Make sure suitable resources are available to respond to incidents and emergencies as planned

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 The IAM Competences Framework Version 1.0 The IAM Competences Framework Version 1.0
Part 1: Asset Management Competence Requirements Framework November 2008 Part 1: Asset Management Competence Requirements Framework November 2008

Role 4 IMPLEMENT ASSET MANAGEMENT PLANS Generic Knowledge & Understanding Requirements of Role 4
Summary These units are about how you manage the whole asset lifecycle and plan and control the delivery of Project planning and management
its main components. They cover operation, maintenance, optimisation and rationalisation of assets.
Resource management

Unit 4.1 Control operations Materials, logistics and supply chain management
E4.1.1 Develop risk based implementation plans and objectives in line with operations, Procurement strategies
maintenance and/or refurbishment strategy
E4.1.2 Review and update existing operations strategy Maintenance principles, techniques and processes

E4.1.3 Develop operations work and resource plans Maintenance regime options

E4.1.4 Develop and evaluate work management processes Accident Investigation principles and procedures

E4.1.5 Manage the delivery of workplans including managing changes and the impact of unplanned work Decommissioning processes
Calculation and management of residual risk and liabilities
Unit 4.2 Maintain assets
E4.2.1 Review and update existing maintenance and/or refurbishment strategies
E4.2.2 Develop risk based maintenance and /or refurbishment workplans
E4.2.3 Specify spares management and inventory requirements
E4.2.4 Plan the distribution of spares and supplies
E4.2.5 Identify appropriate condition assessment techniques
E4.2.6 Assess asset condition and performance and modify maintenance plans and regimes as required
E4.2.7 Evaluate options for extending the life of assets

Unit 4.3 Optimise and rationalise assets

E4.3.1 Review asset performance and capacity against current requirements to identify proposals for
rationalisation of assets
E4.3.2 Evaluate asset rationalisation within a cost-risk optimisation framework
E4.3.3 Make sure rationalisation projects are fully defined and assessed including their impact
on other potential projects
E4.3.4 Make sure rationalisation projects are implemented and are subject to full post-investment appraisals
E4.3.5 Make sure the spares management process supports the AM Strategy and Plan(s)

Unit 4.4 Renew or dispose of assets

E4.4.1 Select and justify the optimal strategy based on AM Strategy
E4.4.2 Identify and plan life-extending, decommissioning, disposal and risk control actions.
E4.4.3 Manage the implementation of life-extending, decommissioning, disposal and risk control actions
E4.4.4 Evaluate the effectiveness of life-extending, decommissioning, disposal and risk control actions
E4.4.5 Make sure assets are disposed of responsibly and ethically

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 The IAM Competences Framework Version 1.0 The IAM Competences Framework Version 1.0
Part 1: Asset Management Competence Requirements Framework November 2008 Part 1: Asset Management Competence Requirements Framework November 2008

Role 5 ASSET MANAGEMENT CAPABILITY DEVELOPMENT Generic Knowledge & Understanding Requirements of Role 5
Summary These units are appropriate to people who manage or influence processes that support effec- Continuing professional development processes
tive delivery of AM strategy, objectives and plans. They cover how competence is developed and Resource Management approaches, techniques and tools
managed in the boardroom, the workplace and the supply chain, the management of organisa-
tional change the development of a suitable culture. They address the way suppliers of products Project management principles and the importance of operating to cost, quality and time obligations
and services are managed and developed.
The complexity, impacts and priorities of critical projects and of multiple projects

Unit 5.1 Develop and deploy AM people and teams Training needs analysis
E5.1.1 Identify workload volumes required to meet AM Strategy, AM Objectives and AM Plans Resource scheduling tools and techniques
E5.1.2 Specify competence requirements for AM work activities The information required to undertake workforce planning
E5.1.3 Make sure Asset Management staff receive the training and development they need Service Level Agreements and contractual management including performance criteria and shared
E5.1.4 Assign suitably competent people and teams to AM work activities risk/reward mechanisms
Materials, logistics and supply chain management
E5.1.5 Direct and coordinate the activities of AM teams
Financial evaluation methods and value-for-money criteria
E5.1.6 Develop and support the AM performance of colleagues
Organisational procedures and systems
E5.1.7 Challenge resource constraints and justify increases
Continuous improvement principles and processes

Unit 5.2 Develop and Deploy Suppliers The main models and methods for managing change effectively, and their strengths and weaknesses

E5.2.1 Identify the criticality of products and services to the AM Strategy, AM Objectives and Plan(s) The political, bureaucratic and resource barriers to change and the techniques that deal with these

E5.2.2 Define which products and services should be supplied How to manage customer, staff, supplier and other stakeholder expectations during change

E5.2.3 Identify and manage suppliers to support the achievement of AM Strategy, The concept of culture as applied to organisations
AM Objectives and Plan(s)
The importance of values in underpinning individual and organisational culture
E5.2.4 Specify requirements for supplied products and services
The principles and methods of managing culture change within organisations
E5.2.5 Identify appropriate forms of contract, terms and conditions for achieving the AM Strategy,
AM Objectives and Plan(s) Your organisation’s vision and strategy and current organisational culture
E5.2.6 Develop and improve the capabilities of suppliers as required Values, assumptions and behaviours that are consistent and inconsistent with your vision and strategy

Unit 5.3 Design and Manage Organisational Change

E5.3.1 Identify how well current organisational structure supports AM strategy,
AM Objectives and Plan(s)
E5.3.2 Identify changes needed to individual roles and responsibilities
E5.3.3 Identify changes needed to Asset Management teams

E5.3.4 Implement changes to organisational structure, teams and individual roles and responsibilities

Unit 5.4 Shape the AM Culture

E5.4.1 Promote the goals and benefits of AM
E5.4.2 Define the organisational culture needed to achieve AM Strategy, AM Objectives and Plan(s)
E5.4.3 Plan and implement changes to organisational culture as required
E5.4.4 Monitor how well organisational culture supports the achievement of AM Strategy,
AM Objectives and Plan(s)

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 The IAM Competences Framework Version 1.0 The IAM Competences Framework Version 1.0
Part 1: Asset Management Competence Requirements Framework November 2008 Part 1: Asset Management Competence Requirements Framework November 2008

Role 6 RISK MANAGEMENT AND PERFORMANCE IMPROVEMENT Unit 6.5 Learn from incidents
Summary These units are about making sure your organisation knows and manages risk effectively and that E6.5.1 Investigate root cause of asset or system failures or incidents.
performance is reviewed and improved over time. Risks include but are not limited to health and E6.5.2 Influence investigation of incidents
safety, security, environment (including climate change), reputation and finance.
E6.5.3 Make effective use of ‘lessons learned’ information from incidents
Unit 6.1 Assess and manage risks
E6.1.1 Define and manage risk management processes and procedures Generic Knowledge & Understanding Requirements of Role 6
E6.1.2 Identify and assess risks arising from AM activities Risk assessment processes and methods covering health and safety, security, asset availability,
reputation, environmental and financial
E6.1.3 Specify measures and methods for controlling identified risks Interrelationship of corporate, strategic and asset-specific risk management
E6.1.4 Identify improvements needed to working practices and procedures Types of risk and the factors which drive different types of risk
E6.1.5 Monitor the progress and impact of improvement actions Key stages in the risk management process
E6.1.6 Integrate AM related risk management with organisational risk management systems Identification of risks relating to current and planned activities, the nature of the risks, the probability
of occurrence and consequences
Unit 6.2 Assure the quality of AM processes Risk management processes appropriate to the assets being managed
E6.2.1 Assure the quality of AM products or processes Impact of improvement actions on current operations and assessment of related risk
E6.2.2 Identify the reasons for quality assurance problems Quantification of probabilities and consequences and prioritisation of risks for appropriate analysis and control
E6.2.3 Plan and implement improvements to the quality of AM processes Why it is important and how to communicate information on identified risks to relevant people across the
organisation and other stakeholders as appropriate
E6.2.4 Evaluate the effectiveness of process improvements
How to establish effective systems for monitoring risk management processes
Legislative and regulatory frameworks
Unit 6.3 Monitor and review progress and performance
E6.3.1 Assess asset condition and performance against AM strategy and objectives Legislative and regulatory frameworks

E6.3.2 Assess the performance of AM activities against AM strategy and objectives Quality Assurance principles and Quality Management systems

E6.3.3 Identify and implement corrective actions Patents, copyright and intellectual property issues

E6.3.4 Analyse the progress, impact and effectiveness of corrective actions Stakeholder management and consultation processes

E6.3.5 Identify lessons learned and adjust AM Strategy, policies and procedures accordingly The effect of stakeholder expectations on Asset Management plans

The impact of changing economic/stakeholder expectations on the day-to-day and long term management of assets
Unit 6.4 Review and Audit Compliance with Legal, Regulatory, Ethical and Social Requirements Organisational stakeholders, their interfaces and how their requirements are reflected in the AM Strategy
E6.4.1 Identify and monitor relevant legal, regulatory, ethical and social requirements
The importance of having an ethical and value based approach to governance and how to put
E6.4.2 Develop effective policies and procedures to make sure requirements are met this into practice
Current and emerging social attitudes to management and leadership practice and the importance
E6.4.3 Assess the way policies and procedures are put into practice and provide support
of being sensitive to these
E6.4.4 Audit compliance with relevant legislation and standards Current and emerging social concerns and expectations that are relevant to your sector
E6.4.5 Identify and correct any failures to meet requirements Ways in which other organisations deal with current and emerging social and environmental
concerns and expectations
E6.4.6 Identify reasons where requirements are not met and adjust policies and procedures accordingly

18 © Copyright The Institute of Asset Management 2008. All rights reserved. © Copyright The Institute of Asset Management 2008. All rights reserved. 19
 The IAM Competences Framework Version 1.0 The IAM Competences Framework Version 1.0
Part 1: Asset Management Competence Requirements Framework November 2008 Part 1: Asset Management Competence Requirements Framework November 2008

Role 7 ASSET KNOWLEDGE MANAGEMENT Generic Knowledge & Understanding Requirements of Role 7
Summary These units are about how you define the asset information you need, how it is gathered and Relevant industry standards and regulatory reporting requirements
analysed and how it is, then interpreted, managed and the knowledge generated is applied.
The attributes and limitations of Information Systems and Tools available to support AM processes e.g. asset
registers, work and resource management, condition and performance monitoring and decision support tools
Unit 7.1 Define Asset Information Requirements Basic concepts and relationships of an asset register, including the part played by spatial, performance,
E7.1.1 Specify asset definition standards to provide a common definition of asset attributes condition and historical data
How the Asset Management strategy has been used to determine what asset knowledge is needed
E7.1.2 Define asset condition standards and measures and specify how these should be used in
and what the linkages are
condition assessment
The processes and organisation required to manage documentary information collection, maintenance
E7.1.3 Specify standard definitions of asset defects and failures
and updating, storage and dissemination
E7.1.4 Specify asset performance management standards Data collection and reporting tools and techniques
E7.1.5 Specify standards which contain common definitions for capturing the utilisation of assets Data analysis methods
E7.1.6 Specify functionality and service life requirements for all key asset types Information requirements - who needs what information, why, how and when?
E7.1.7 Verify that asset knowledge standards are consistent with AM Strategy and Plan(s) Training needs analysis
Analysis and monitoring techniques, processes and performance indicators needed to provide
Unit 7.2 Specify, Select and Integrate AM information Systems management reports on operations and maintenance
E7.2.1 Specify and validate functional and technical requirements of Information Systems needed The integration of asset and technical information
to support and integrate AM processes.
E7.2.2 Identify human factor implications of functional, technical and business requirements
E7.2.3 Define and plan the integration of Information Systems and Tools
E7.2.4 Demonstrate appropriate use of Information Systems in supporting the delivery of
AM Strategy and Plan(s)
E7.2.5 Make sure AM Information Systems produce relevant usable data in a cost effective manner
E7.2.6 Monitor the implementation of Information Systems and Tools

Unit 7.3 Make Appropriate AM Information Available for Decision Making

E7.3.1 Develop effective and relevant AM data collection criteria and processes
E7.3.2 Plan and manage the collection, maintenance and updating, storage and dissemination
of AM information
E7.3.3 Process and analyse AM data to provide effective business information as required
E7.3.4 Prepare reports as required and recognise anomalies in reported data
E7.3.5 Provide AM data and information needed to transfer assets to operational use

20 © Copyright The Institute of Asset Management 2008. All rights reserved. © Copyright The Institute of Asset Management 2008. All rights reserved. 21
 The IAM Competences Framework Version 1.0 The IAM Competences Framework Version 1.0
Part 1: Asset Management Competence Requirements Framework November 2008 Part 1: Asset Management Competence Requirements Framework November 2008

Importing units Contributors References Disclaimer

of competence The development of the 2008 Framework has been
undertaken by the IAM Membership Committee:
8.1 IAM Publications
Guidance on Using the 2008 Asset Management
This document is for information only. The Institute
of Asset Management takes no responsibility for the
usage or applicability of the 2008 Asset Management

from the 2008 Chris Lloyd, CAS (Chair)

Trevor Richards, Central Networks
Competence Requirements Framework, Institute of
Asset Management, London 2008
Competence Requirements Framework.

Framework Alex Foulds, Tubelines

The IAM Qualifications and Professional Development
Committee is responsible for making decisions on
what constitutes appropriate contextualisation and
tailoring of the generic units by third parties.
The process is based on the best practice approach
Steve Tomlinson, Atkins
8.2 Standards Publications
BSI PAS 55-1:2008, Specification for the optimized About the IAM
Jane Rennie, Independent management of physical assets, British
Luke Dirou, Tubelines The IAM is the professional body for those involved
Standards Institute
Richard Earp, National Grid in acquisition, operation and care of physical assets,
Richard Moore, London Underground particularly critical infrastructure - and for professionals
8.3 Competence Frameworks
Chris Royce, Anglian Water worldwide dedicated to furthering our knowledge and
Asset Management Competency Requirements
understanding of Asset Management.
Framework, Institute of Asset Management,
The Committee expresses its appreciation to CAS London 2006

Our Objectives
established by the Management Standards Centre for providing the project management services of
which is promoted by the UK qualifications Jo Hardman and to National Grid for the time that National Occupational Standards for Management
Richard Earp and Aled Williams were able to give to and Leadership, Management Standards Council,
regulating authorities.
ensuring that the 2008 Framework is congruent with London, 2002-04 • A dvance for the public benefit the science and
BSI PAS 55: 2008. practice of Asset Management
Enquiries should be directed to:
Engineering Competence Reference Standards, • Promote and recognise high standards of practice
The Committee thanks the following people for acting Engineering Construction Industry Training Board and professional competence
The Institute of Asset Management as Peer Reviewers: • Generate widespread awareness and understanding
Qualifications and Professional Development
UK Standard for Professional Engineering Competence, of the discipline.
Committee David Gooda, The Woodhouse Partnership Ltd Engineering Council, London, 2005
221 St John St Dr Charles Johnson, CAS
London
EC1V 4LY
Richard Earp, National Grid
Malcolm Winterburn, Metronet Rail
8.4 Qualifications Regulators
Qualifications and Curriculum Authority, The
Please contact us
Tel 0845 456 0565 Mark Engelhardt, SEAMS regulatory body for public examinations and publicly Successful Asset Management requires a combination
Office@theIAM.org Mike Moore, Institute of Railway Signal Engineers funded qualifications in England and Wales of skills, techniques and knowledge, particularly
Tim Feest, Occupational Standards Council www.qca.org.uk finance and we welcome engagement and
for Engineering collaboration with other expert bodies and interested
Scottish Qualifications Authority, The regulatory individuals. Please visit us at www.theIAM.org
The Committee also wishes to thank all members and body for public examinations and publicly funded
patrons of the IAM who encouraged the development qualifications in Scotland www.sqa.org.uk
of the 2008 Framework and participated in
its consultations. Council for Curriculum, Examinations and Assessment,
The regulatory body for public examinations and
publicly funded qualifications in Northern Ireland
www.rewardinglearning.org.uk

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