ASTM E3140-19

4.1 The asset management career field has many career disciplines (particularly asset management consistent with ISO 55000 definitions, concepts, and requirements) that support an entity’s activities. These career titles may include, but are not limited to, industrial asset management specialists, asset administrators, property asset management, operations, accounting, database management, contract management, motor vehicle managers, and so forth. Career professionals not only manage assets, but may also perform audits or self-assessments, develop policies and procedures for the management of assets, supervise asset management operations within and across their entities, or act as a primary interface to customers for asset management related matters.

4.2 ISO 55001 and ISO 55002 recommend entities determine the competency of personnel performing asset management functions to ensure that personnel are competent to perform assigned asset management functions based on education, training, or experience, or combinations thereof. ISO 55002 recommends that human resource skills improvement and competencies should be included in the entity’s asset management training plans. (See Table 1.)

4.3 Entity adoption of an AMCD program enables asset management professionals to become fully competent in their chosen career field and allows for career progression which, in turn, will assist the entity in retaining competent asset management professionals.

4.4 A properly designed and implemented AMCD program leads to assurance that asset management professional and support staff are sufficiently competent to meet industry technical standards, customer expectations, and that competence is no less than similar activities that customers require, and are needed to maximize the value of assets and the elimination of waste, fraud, and abuse.

1.1 This guide provides the principles for an Asset Management Career Development program including education and training for professional employees engaged in the practice of asset management.

1.2 As a guide, this is the consensus of the asset management profession for the requirements for an Asset Management Career Development (AMCD) program.

1.3 The use of this guide by the profession can improve professional competence, enhance value from assets, reinforce or establish adequate internal controls, encourage a broader and higher level of competency and thinking by its practitioners, reinforce the use of innovative and cost-effective practices, create greater commonality between all entities that perform asset management, and increase the ability of entities to respond to changing needs and business conditions.

1.4 The AMCD program establishes the recommended education, training, and experience requisites necessary for asset management activities to adequately support the missions and objectives of an entity’s asset management operations, and therefore supports the entities’ missions.

1.5 The AMCD program is predicated on multiple levels of professional competency and achievement based on a combination of academic education and training and professional experience.

1.6 It is the responsibility of each entity that adopts this guide to confirm the appropriateness of any specific education and training offerings.

1.7 This guide encourages a broad and continuous self-study practice for those within the profession as applicable knowledge and lessons learned are disseminated continuously from multiple sources.

1.8 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.

1.9 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.