IAM Certificate

Principles of Asset Management

This course provides an intensive coverage of the principles and practice of Asset Management. The content is aligned to PAS 55, ISO 55000, and to the Institute of Asset Management (IAM) competency framework, with a view to preparing students to pass the IAM Certificate in Asset Management examination. It is suited to practitioners with industrial or infrastructure asset
management responsibilities, who can relate concepts to their work environment.

The course covers the 5 modules of the IAM Certificate in Asset Management qualification:

  • Module 1 The Principles of Asset Management
  • Module 2 Asset Management Policy, Strategy and Planning
  • Module 3 Managing Asset Life Cycle Decisions and Activities
  • Module 4 Assessing and Managing Asset Management Risks
  • Module 5 The Financial and Business Impact of Asset Management

The integration of asset whole life cycle management, linked to the broader business vision and strategy of the organization is stressed throughout. The course is delivered through intensive and interactive virtual classroom teaching with content reinforced with exercises and tests, supported by directed reading.

The course provides a well-rounded competency development and assurance stage for those who already have practical experience, or specialist knowledge, and who are now seeking a more comprehensive understanding.

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Session 1

  • Introduction
  • The discipline of Asset Management (scope, definitions & concepts)
  • What is ‘good’ Asset Management? – 7 distinctive attributes
  • Asset (life cycle) management processes
  • Value in, and from, asset management


Session 2

  • Alignment (‘line of sight’), policy, strategy & planning (introduction)
  • Leadership, assurance & management systems
  • Asset management standards (PAS 55 & ISO 55000)
  • Asset life cycle decision-making (introduction)


Session 3

  • Risk Management
  • Information Management (introduction)
  • People and Contractor Management


Session 4

  • Contractors and Supplier Management
  • Organization Maturity; journey and business impact

Session 5

  • Introduction
  • Alignment of ‘line of sight’ and policy requirements
  • Developing Asset Management policy
  • Strategic requirements 


Session 6

  • Planning and implementation of Asset Management Strategy
  • Develop and communicate Asset Management plans

Session 7

  • Life cycle costing and Asset Life Cycle Decision Making
  • Creation and Acquisition of Assets (parts 1 & 2)


Session 8 

  • Controlling Operations
  • Renewal, rationalization, and disposal of Assets 

Session 9

  • Introduction
  • Assessment and management of risk


Session 10

  • Contingency planning
  • Asset Management review and audit

Session 11

  • Introduction
  • Strategic Requirements
  • Investment Decision-making


Session 12

  • Asset Management Planning
  • Creation and acquisition of assets: the business case

Participants from organizations where the reliability, performance, and attendant risks of fixed assets have a significant impact on business performance will benefit most from this course. Typical roles include but are not limited to:

  • Engineering and technical managers
  • Project managers and engineers
  • Operations managers and staff
  • Maintenance managers and staff
  • Facilities Managers
  • EHS & quality managers and staff
  • Procurement and supply chain
  • IT & HR


This course is suitable for those who have 2+ years of industrial or asset-intensive work experience, and prior reading of IAM’s “Asset Management; an Anatomy” (free publication from the IAM).

The Woodhouse Academy IAM certificate course is available via:

Virtual Classroom
12 x 2-hour virtual classroom teaching via webinar over a 4 day period (or equivalent hours over different period and schedule)

  • With a schedule flexible to your requirements, the course includes exercises throughout and all sessions conclude with a short group knowledge quiz and all modules conclude with a test
  • Final online IAM examination test registered and booked separately


Classroom courses
Individuals can enroll for our 3-5 day public courses where available or organizations can benefit from our extensive service in customizing courses and developing bespoke materials for multiple participants. IAM Examination test can be held at the end of the course.


Woodhouse eLearning portal
A 14 module self-study course providing a fast and flexible way of preparing for the IAM’s Certificate exam. Additional webinars and other support options to ensure your readiness for this exam are also available. The interactive eLearning modules can be accessed on any Smart device (phone, tablet, laptop or desktop). Final online IAM examination test registered and booked separately. For more information and to trial the eLearning go to our Online Learning Portal


Blended learning
A combination of learning methods which includes classroom or group working, workplace assignments, interactive workshops, online learning, personal mentoring, and self-paced investigation and learning. Further details are available on request.

At the end of this course the participant will be able to:

  • Contribute to the generation and implementation of an Asset Management policy, strategy, objectives, and plans.
  • Participate in asset-related risk identification, analysis and management processes, and contingency planning.
  • Understand the asset lifecycle and the role of appropriate tools to optimize the performance, risk, and cost of assets.
  • Identify the information and performance measures needed for effective asset management, and evaluate the effectiveness of asset information systems.
  • Understand the financial implications of asset and asset management decisions for the organization, and translate technical issues into business implications. 

Successful participants may choose to go on to the IAM Diploma in Asset Management. 

ISO 55000, 55001, 55002: Overview, Management Systems Requirements and Management Systems Guidance

IAM Competences Framework Part 1, Version 3.0, Institute of Asset Management, June 2014

IAM Competences Framework Part 2: Guidance on using the 2012 IAM Competences Framework Version 3.0, Institute of Asset Management, June 2014

GFMAM Asset Management Landscape, Version 2, The Global Forum on Maintenance and Asset Management (GFMAM), March 2014.

Asset Management – An Anatomy, Version 3, Institute of Asset Management, July 2014

There are no entry requirements for the qualification and it is not essential to be an IAM member, however, registration with the IAM is required.

It is a 2-hour invigilated exam delivered online. It comprises 60 multiple-choice questions over the 5 compulsory modules. To be awarded the IAM Certificate, you will need to achieve an overall score of 65%, with a score of not less than 50% in each of the five modules.

The exam is available to purchase separately (IAM 2021 fees: GBP £250, Euro €290, USD $325).

Exam fees provide entry to sit the examination once. If you opt to re-sit the examination, the same fee applies to register and sit the exam again.

Aligned to PAS 55, ISO 55000 and the IAM competency framework
Develop a business centered appreciation of Asset Management
Influence decisions that have Asset Management implications
Foster effective team work and breakdown disciplinary silos
Providing well-rounded competency development
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IAM Certificate Course Brochure


Virtual Classroom/Classroom

12 x 2 hours 
Recommended reading
IAM Certificate Examination*

Bespoke Training

4 Days tailored to Organization
Recommended reading
IAM Certificate Examination*

Also available


14 Online modules
Recommended reading
IAM Certificate Examination*

Our IAM Certificate: Principles of Asset Management, is an introductory qualification aimed at demonstrating an understanding of the fundamental principles of asset management; it is a fundamental step to becoming a Professional Asset Manager. We can provide the support, coaching, and practical tools for every stage of your asset management journey.

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