IAM-Certificate Exam Dumps : The Institute of Asset Management Certificate

AChange Request Processis required to formally evaluate and approve any change that could impact asset performance, risk, or compliance—such as outsourcing maintenance.

Exact Extract from IAM – Asset Management: An Anatomy (v4), Section 4.6.2 – Change Management:

“Changes to asset-related systems, responsibilities, or service providers should follow formal change control processes to assess impact and ensure traceability.”

Depreciated valueis a financial accounting figure and is not a strong indicator of whether an asset should be decommissioned. Operational, legal, and environmental factors carry more weight.

Exact Extract from IAM – Asset Management: An Anatomy (v4), Section 3.4.5 – Disposal:

“Factors include residual value, reuse options, legal compliance, and environmental impact. Financial book value is rarely a deciding factor.”

Thefour fundamentals of asset management, as defined by the Institute of Asset Management, are:

Value– Assets exist to provide value.

Alignment– Asset management should align with organizational goals.

Leadership– Strong governance and direction are essential.

Assurance– Monitoring and evaluating performance for confidence in delivery.

This framework enables a structured approach to managing assets in a way that supports strategic and operational effectiveness.

Exact Extract from IAM – Asset Management: An Anatomy (v4), Section 1.2 – Fundamentals of Asset Management:

“The four fundamentals of asset management are: Value, Alignment, Leadership, and Assurance.”