IAM Diploma

Advanced Asset Management

This deep-dive course provides intensive coverage of the principles, practices, and application of Asset Management for those seeking the IAM Diploma qualification in Asset Management. The curriculum covers all the required modules of the Diploma and is also aligned with asset management standards (PAS 55, ISO 55000) and the GFMAM Asset Management ‘Landscape’, with a view to preparing students to sit the IAM Diploma in Asset Management examination.

The course covers the 12 modules of the IAM Diploma in Asset Management qualification and allows for participants to commence from Module 1 or for those that have studied for the Certificate and feel confident in their retained knowledge of those modules to start at Module 7 (The IAM Diploma conversion course):

  • 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
  • Module 6 The Practices of Asset Management
  • Module 7 Asset Management Information & Knowledge
  • Module 8 Sustainable Asset Care & Performance Management
  • Module 9 Managing Change in Asset Management Systems & Capabilities
  • Module 10 Contractor & Supplier Management
  • Module 11 Demand Forecasting & Capital Expenditure Planning
  • Module 12 Methods for Realising Whole Live Value from Assets

This course provides the educational content and practical application insights that enable students to meet these requirements and add value to their respective workplaces. 

The course is aligned to PAS 55 and ISO 55000 to the IAM’s competency framework, with a view to preparing students to pass the IAM Diploma in Asset Management examination. It is suited to experienced practitioners with industrial or infrastructure asset management responsibilities, who can relate concepts to their work environment.

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Just wanted to say a massive thank you (again) for your coaching on this. I have just passed the Diploma exam with a Distinction.” James, UK

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

Project work hand out, self-study and exercises ser prior to Module 7 the conclusion of which is managed in:

  • Session 25 & 26
    Applying Asset Management through Project Work and Scenario-based questions and discussion

at the end of the course.

Session 13

  • Asset Information Policy and Strategy
  • Defining Asset Information Requirements

Session 14

  • Specifying, Selecting, and Integrating asset management information and knowledge systems
  • Making appropriate asset management information available for decision-making

Session 15

  • Sustainability
  • Maintaining Assets
  • Balancing the need for and rationalizing assets
  • Renewal and disposal of assets


Session 16

  • Monitor and review progress and performance


Session 17

  • Failure Analysis and responses
  • Assure the quality of asset management processes
  • Compliance with legal, regulatory, ethical, and social requirements


Session 20

  • Designing and managing organizational change

Session 21

  • Shaping the asset management culture

Session 20

  • Development, use and management of contractors and suppliers

Session 21

  • Assuring the quality of asset management products or processes


Session 22

  • Forecasting and analysing future user requirements and demands

Session 23

  • Appraising investment options

Session 24

  • Whole Life value from assets
  • Application of Whole Life Costing Principles

The Woodhouse Academy IAM Diploma course is available via:

Virtual Classroom
24 x 2-hour virtual classroom teaching via webinar over a 9 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 9-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.

Diploma Conversion
For those that have recently studied for and completed the IAM Certificate:
Conversion Diploma 14 x 2-hour virtual classroom teaching via webinar over a 5 day period (or equivalent hours over different period and schedule).

Blended learning
A combination of learning methods 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.
  • Understand requirements for managing the implementation of asset management plans
  • 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
  • Contribute more effectively to change management, continual improvement, and cultural development.

The participant will develop a business-centered appreciation of Asset Management and will be better able to influence decisions and the performance of the organization. The course is cross-disciplinary and helps to foster effective team-working and to break down departmental silos.

The participant will be equipped to pass the IAM Diploma Examination

The following reading list is the minimum expected for self-study in preparati on for the course. It is strongly recommended that Diploma examinati on candidates extend their reading beyond this list and further guidance will be provided.

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

IAM Competences Framework Part 1, Version 3.0, Institute of Asset Management, Dec 2015.

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

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

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

The Diploma is more advanced than the IAM Certificate, aimed at those with prior knowledge and experience of asset management, typically working in or preparing for specialist or management roles in asset management. 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 3-hour invigilated exam delivered online. It comprises 70 multiple-choice questions over the 12 compulsory modules. To be awarded the IAM Diploma, you will need to achieve an overall score of 65%, with a score of not less than 50% in each of the five modules. Candidates achieving an aggregate score of 75%, having passed all modules at 50% or higher, will be awarded a Diploma with Distinction.

The exam is available to purchase separately (IAM 2021 fees: GBP £350, Euro €400, USD $455).

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 Diploma Course Brochure


Virtual Classroom/Classroom

26 x 2 hours 
Recommended reading
Self-study exercises
Module exercises and
practice questions

Bespoke Training

9 Days tailored to Organization
Recommended reading
Self-study exercises 
Module exercises and
practice questions

Our IAM Diploma: Advanced Asset Management, is a qualification that focuses on breadth and depth of knowledge and understanding, along with the application of professional judgment in practice. The Diploma is currently the highest-level qualification awarded by the IAM. We can provide the support, coaching, and practical tools to take you to the pinnacle of your career in becoming a recognized professional Asset Manager.

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