Guidance For Candidates - The Iam Certificate: Edition 2 - January 2013
Guidance For Candidates - The Iam Certificate: Edition 2 - January 2013
Guidance For Candidates - The Iam Certificate: Edition 2 - January 2013
CONTENTS
Introduction Certificate or Diploma: Which is right for you? Passing the Exam what do you need to know? The Modules Explained Self-Assessment Questionnaire
Copyright information The IAM copyright notice displayed in this document indicates the date of last revision and issue Amendment number Edition 2 Date January 2013 Comments Correction of answers to sample questions and typographical errors
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INTRODUCTION
If you are reading this Guidance document, you have probably registered recently to take the exam. However, you may also be reading it before deciding to do so. Our intention is that it should suit both purposes, but if you have already registered, you may wish to skip the Section: Certificate or Diploma: Which is right for you?
The examination
The IAM Certificate exam is set by the IAM Examinations Board and draws on the knowledge and experience of practitioners and subject matter experts in the IAM membership. The exam comprises a set of multiple-choice questions with a fixed period of time in which to answer these. The exam is delivered on-line and, like a growing number of professional examinations, it is open-book. In other words, candidates are allowed to use reference materials while they undertake the exam, if they wish. However, candidates who do so will need to balance the time taken to look up possible answers against the need to answer enough questions correctly to gain the pass mark. IAM exams will be held at IAM Assessment Centres. These are venues which have the necessary facilities to deliver the exam safely and securely. Typically these might be office, hotel or college premises anywhere in the world. To sit the IAM Certificate exam, all that an individual candidate, or their employer or their training organisation, needs to do is: register on the IAM website; use the online exam portal and practice questions if they wish; book an exam date when they feel ready and turn up at the chosen Assessment Centre at the right time on the right day. Candidates who pass the examination will be awarded the IAM Certificate. Candidates who fail can register to take the examination again if they wish. There is no limit on the number of times a candidate can sit the exam but the registration fee is charged in full each time.
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To help you decide which IAM Qualification is right for you, do the following: Write down what you need to know and understand in order to do your current job or get the job you want Compare what you have written with the contents of the IAM Certificate and IAM Diploma (you can use the next section to do this: The Modules Explained) Think about what more you need to do to help achieve your future ambitions? Try and answer the IAM Certificate practice examination questions on the IAM exam portal (after registering) and see how well you do this will give you an idea of how ready you are to take the examination and stand a chance of passing it Take the advice of one of the IAM Endorsed Training Providers which specialises in preparing candidates for the IAM Certificate and Diploma examinations
Note that although there is a natural progression from the IAM Certificate to the IAM Diploma, you do not have to obtain the IAM Certificate before attempting the IAM Diploma examination. Each qualification stands alone in its own right and is valued for what it represents. Be careful not to overestimate your readiness for the IAM Diploma examination.
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PASSING THE EXAM WHAT DO YOU NEED TO KNOW? The Modules explained
The IAM Certificate contains five modules: C1 to C5.
The key topics covered are: 1 Asset management strategies, policies and plans.
How these respond to business drivers, how they are developed and how they can be used to shape operational performance.
Why its important to analyse the costs, risks and benefits of investment options; what whole-life cost models are and how theyre used.
Why operational work and resource plans are needed; how they are developed and implemented; why its important to review and update plans, especially for maintenance and refurbishments; evaluating asset performance and capacity; planned life-extension and decommissioning and disposal of assets.
Risk management.
Identifying and assessing risk associated with asset management activities; measures for controlling risks; and the range of legal, regulatory, ethical and social requirements that need to be considered.
Why accurate, relevant and up-to-date asset date and information is important. Specifying technical requirements for information systems and how those systems are used; supporting the delivery of the asset management strategy and plans.
The correct answers are on the final page of this document Guidance for Candidates - Certificate Ver10 Jan13 2013 The IAM Page 4 of 14
How to identify asset-related risks; implementation of risk management processes; measures and methods for controlling risk; improvements to working practices; the integration of asset-related risk management with organisational risk management systems.
Contingency planning
The identification of potential disruptions; planning appropriate responses to incidents and emergencies; and ensuring that suitable resources are available to respond to incidents and emergencies.
How to monitor the performance of assets and systems; how changes to assets and systems are managed; how asset management key performance indicators are determined; and, the need for asset management stewardship reporting and how this is achieved.
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How and why assets are created or acquired; how this relates to asset management strategy and plans; the need for accurate and timely information about client requirements and asset specifications; ensuring design specifications are practicable and achievable; ensuring assets meet specifications and are installed correctly; commissioning processes and record-keeping. Developing feasible and realistic procurement objectives and criteria; identifying and evaluating procurement methods to achieve best value for money; selecting and evaluating procurement methods; determining terms and conditions; the tendering process, bid evaluation and contract negotiations; and, monitoring the performance of suppliers and contractors.
Maintenance of assets
Developing risk-based maintenance and refurbishment work plans; specifications for managing spares and inventory; identification of appropriate condition assessment techniques; asset condition and performance monitoring in relation to maintenance plans and regimes; options for extending asset life.
How to identify and plan actions to extend the life of assets and their decommissioning and disposal; the implementation of action to extend the life, decommission or dispose of assets and the effectiveness of these actions when implemented; and ensuring that disposal is carried out responsibly and ethically in according with good environmental practices and relevant legislation.
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How asset condition standards and measures are defined, including definitions of asset defects and failures and standards for asset performance management.
The appropriate use of information systems; how to ensure that asset information management systems produce relevant, usable and accurate data; and how the use of information systems and tools can be monitored.
How asset management information is collected, maintained and updated, stored and disseminated, and the related planning and management systems and procedures; how data are processed and analysed to provide effective management information; preparation of reports and identification of anomalies in data; and, the provision of asset management data and information needed for transferring assets into operational use.
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In the context of the asset management strategy, why risks must be identified within the strategy and the implications of current and forecast condition of assets; how and why current and future customer requirements are analysed; and considerations of legal, social, environmental and economic factors and trends relevant to the strategy.
Investment decision-making
How investment options are identified, for achieving the asset management strategic objectives; and how and why costs, risks and benefits of investment options are analysed.
How the asset management plan is developed, including considerations of how asset management activities and projects will be resourced, managed and evaluated; and how the resources and services required to deliver the asset management plans are defined.
How and why business needs are analysed, with regard to the creation or acquisition of assets on the basis of the asset management strategy and plan; the assessment of costs, risks and benefits of competing creation and acquisition options; and how and why the business case for evaluating costs, risks and benefits is prepared.
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What do I do?
Its simple: tick the boxes as appropriate (only one per row), for each of the evidence specifications in the table, according to your self-assessment of your knowledge and understanding of the topics concerned, with regard to the IAM Certificate. Be honest! Your aim is to highlight areas where some extra training might be helpful.
Then what?
When you have completed the questionnaire, look at your answers and also how many there are in each column.
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6 7
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Assessment and management of risk identifying asset-related risks risk management processes and procedures measures and methods for controlling risks identifying improvements needed to working practices and procedures Contingency planning, covering: identifying potential disruptions planning appropriate responses to incidents and emergencies resource availability to respond to incidents and emergencies Asset management review, covering: monitoring asset and systems performance change management general management reviews and audits key performance indicators condition monitoring of assets and systems TOTALS FOR C2
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Creation and acquisition of assets: developing design specifications to achieve optimum life-cycle requirements installation and commissioning of assets impact of procurement policies on achieving optimum asset life-cycle performance and costs Maintenance of assets: Developing risk-based maintenance and/or refurbishment workplans, specify requirements for management of spares and inventory and plan the distribution of spares and supplies Identifying appropriate condition assessment techniques and assess condition and performance of assets and modify maintenance plans and regimes as required Providing input on options for extending the life of assets Renewal and disposal of assets: Identifying and planning life-extending, decommissioning, disposal and risk control actions Implementing action to achieve lifeextension, decommissioning, disposal and risk control of assets and evaluating the effectiveness of such action Ensuring that assets are disposed of responsibly and ethically and in accordance with accepted good environmental practice and relevant legislation. TOTALS FOR C3
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The Correct Answers to the Sample Questions (previous Section) are: 1c, 2a, 3d, 4a, 5e
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