The Institute of Asset Management, known usually as the IAM, is an international, not-for-profit organisation and learned society, currently based in the United Kingdom. It is the professional and membership body both for individuals and also for organisations / companies interested in or engaged in asset management.
Asset Management is a young discipline bringing together concepts and techniques from general management and finance / accountancy as well as engineering, construction and technology. It is concerned with decision making and actions throughout the whole of life of physical assets (tangible assets, including infrastructure / property / manufacturing / etc. and also information in that context). From the first identification of the need for an asset (whether for commerce or private use) decisions are made that affect the cost, use and value of these assets to all concerned. These stages are, typically: design, construction, commissioning, operation or service life, maintenance, repair, renewals and finally decommissioning and disposal.
Famous quotes containing the words institute, asset and/or management:
“Whenever any form of government shall become destructive of these ends, it is the right of the people to alter or to abolish it, & to institute new government, laying its foundation on such principles & organising its powers in such form, as to them shall seem most likely to effect their safety & happiness.”
—Thomas Jefferson (17431826)
“Imagination is a valuable asset in business and she has a sister, Understanding, who also serves. Together they make a splendid team and business problems dissolve and the impossible is accomplished by their ministrations.... Imagination concerning the worlds wants and the individuals needs should be the Alpha and Omega of self-education.”
—Alice Foote MacDougall (18671945)
“The management of fertility is one of the most important functions of adulthood.”
—Germaine Greer (b. 1939)