Institute of Asset Management

Cardiff, United Kingdom

Institute of Asset Management

The Institute of Asset Management is a UK-based not-for-profit professional body for those involved in acquisition, operation and care of physical assets, especially critical infrastructure. It was instrumental in the development of the international standard ISO 55000 for asset management.

The IAM was incorporated on 26 February 2004. It led the production that year of the initial draft document PAS 55, its substantial revision to develop PAS 55:2008 (released in Dec 2008), and contributed to ISO Project Committee 251 between 2010 and 2013 before three international standards (55000/1/2) were launched in London on 5 February 2014. Babcock International and Scottish Water were the first two companies to be independently certified by BSI to the new asset management systems standard ISO 55001.

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