Asset Management Foundation Award (IAM Foundation Award)

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About this Training Course

Assetivity offers this training course as an introduction to Asset Management (AM) for anyone wishing to learn the fundamental principles and concepts underpinning world class Asset Management, and the benefits to be accrued from applying these within an Asset-rich organisation. This course aligns with the IAM Foundation Award course (IAM endorsed) and includes the Foundation Award Knowledge Test at the end. Participants will obtain an understanding of the key principles of effective Asset Management in the context ot the ISO Standard for Asset Management (ISO 55000).  They will also obtain a better understanding of the benefits to be obtained from taking a systematic approach to Asset Management.

Participants will gain an understanding of:

  • Asset Management in the context of ISO 55000
  • AM Policy and how and why it is developed.
  • Strategic Asset Management Plans (SAMP): their development and how this impacts on their roles and functions.
  • The key elements included in Asset Management Plans, as defined by ISO 55000, including costings, contingency planning and communicating the plan.
  • Key issues to be considered when implementing Asset Management Plans
  • The role of Risk Management in effective Asset Management
  • AM Performance Measurement and Improvement.

Who Should Attend

  • Managers wishing an overview of the key elements and benefits of effective Asset Management
  • Anyone else requiring an introduction to the key principles underpinning effective Asset Management

Training Course Duration

1 Day

Learning Objectives

By the end of this course, delegates should (as a minimum) be able to:

  • Describe what asset management is and why it is important.
  • Describe the role asset management can play in supporting organisational strategy and objectives.
  • Describe the relationships and differences between asset management policy, strategy and plans.
  • Describe the principles of asset whole life costing.
  • Describe the role of Risk Management in effective Asset Management.
  • Give examples of how AM performance can be measured.
  • Describe the main advantages of a systematic approach to Asset Management.


As this course is part of the IAM’s competency framework, each attendee will be formally assessed to measure successful understanding of the concepts and principles discussed in this course. This assessment consists of a formal knowledge test at the end of the course. Participants who successfully pass the test at the first attempt will be issued a certificate of completion by the IAM.

Training Course Content

Asset Management Concepts

  • What is Asset Management?
  • What is an Asset?
  • What is the Asset Lifecycle?
  • Models for Asset Management, including the PAS 55, ISO 55000, IAM, GFMAM and other Asset Management Models 

The Benefits of Asset Management

  • Traditional v PAS 55/ISO 55000 Asset Management
  • The Impact of AM on a Business
  • Summary of AM Benefits
  • Case Studies – Benefits of AM

Asset Management Document Hierarchy

  • Document Hierarchy for AM
  • Policies, Strategies and Plans
  • Why, What & How – Asset Management Policy
  • Why, What & How – Strategic Asset Management Plan
  • Why, What & How – Asset Management Plans
  • Case Study – AM Documentation

AM Decision Making

  • The Performance/Cost/Risk Trade-off
  • Cost-based Decision Making
  • Risk-based Decision Making
  • Performance-based Decision Making
  • Case Study – Asset Management Decision Making

Training Course Summary


  • Assessment of competency against learning objectives

Training Course Cost

$975 (ex GST) per person.

Early Bird Discount = $97.50.

Discounts apply for multiple attendees from the same organisation. Please contact us for a price quotation.


Training Course Dates and Registration

  • Click here to view the currently scheduled dates and locations for this course, and register for one of those courses.
  • This course can be run in-house for your organisation at a time and location that suits you.  This email address is being protected from spambots. You need JavaScript enabled to view it. to obtain more details and a price quotation.

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Upcoming Training Courses

Monday, 28 Jun 2021
Location: Perth

Monday, 28 Jun 2021 - Friday, 2 Jul 2021
Location: Perth

Tuesday, 29 Jun 2021 - Wednesday, 30 Jun 2021
Location: Perth

Thursday, 1 Jul 2021
Location: Perth

Friday, 2 Jul 2021
Location: Perth

Monday, 19 Jul 2021 - Friday, 23 Jul 2021
Location: Brisbane

Monday, 2 Aug 2021 - Friday, 6 Aug 2021
Location: Brisbane