I’m sure many of us on the asset management (AM) career track have noticed the myriad of professional qualifications and memberships available in the marketplace. As the global appetite for AM has grown and the community of practice and body of knowledge have matured, several industry organizations have formed to engage with practitioners.
The two longest-established of these are the Institute of Asset Management (IAM), founded in the UK (1994), and the World Partners in Asset Management (WPiAM), based in Australia (2014). Each organization has international chapters (IAM) or partner organizations (WPiAM). Though they are organized differently, both organizations strive to unite global practitioners and collectively raise the stature and professionalism of AM as a discipline.
The membership of these organizations collaborate on developing global best practices, e.g., the Global Forum on Maintenance and Asset Management (GFMAM): The Asset Management Landscape (conceptual asset management framework) and the ISO 55000: 2014, Asset Management - Overview, principles, and terminology (international standard). Further, in the spirit of cooperation, these organizations recognize the transferability of each other's qualifications at a particular stage; the WPiAM will accept the IAM's Certificate qualification toward their CAMA certification. Conversely, the IAM will consider the WPiAM’s CAMA certification as a base qualification in their Endorsed Assessor Scheme.
I encourage all AM practitioners to become involved with one or both of these organizations and contribute to the collaborative development of our industry.
George Galambos, PE CAMA CPAM MIAM
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