Global Asset Management Certifications with Susan Lubell
We’re excited to have Susan Lubell, the PEMAC Asset Management Association of Canada President, with us. She’s also the chairperson at World Partners in Asset Management and the principal consultant at Steppe Consulting. Susan presents at conferences, instructs, and has been heavily involved in maintenance and reliability and asset management for more than 25 years. These have been in oil and gas as well as mining and mineral processing.
In this episode, we covered:
- What is Asset Management
- Which AM certifications are available
- Difference between CSAMs and CPAMs
- And much more!
What is Asset Management?
AM is the collective activities of an organization that lets it deliver value from its assets. It’s seen through an asset’s entire life cycle, conceptual idea through to reclamation, focusing on cost, risk, and performance. It’s not just maintenance during the operational phases, but also an integration with groups like finance, accounting, supply management, HR, IT, and HSE to deliver value from assets.
Which AM certifications are available?
Every not-for-profit asset management association offers courses and certifications based on that particular association or training service provider’s specifications and requirements. PEMAC has the CAMP, Certified Asset Management Professional, and the MMP, Maintenance Management Professional certification.
PEMAC and World partners have also recently released certifications in Asset Management. These will complement CAMP and MMP and fully align with the World Partners Global Certification Scheme, GCS, specifications. They are:
- CSAM – Certified Principal in Asset Management
- CPAM – Certified Practitioner in Asset Management
- CTAM – Certified Technical specialist in Asset Management
Why did World Partners come up with these extra certifications?
World Partners members, which include PEMAC, noticed a gap in the marketplace for common competency certification in AM’s professional field. A unique aspect of the new offerings is they all meet a set of common requirements for AM competency as specified by World Partners, setting the relevant minimum requirements. Keep in mind that competency is demonstrated knowledge, skills, and work experience.
The GCS marks a big step in the professionalization of AM globally, giving a career path for those trying to expand their skills and get global recognition for their competency. It offers transportability and transferability between companies, industries, and countries. The current focus is on existing partner associations within World Partners. These are:
- PEMAC in Canada
- Asset Management Council in Australia
- SAAMA, Southern Africa Asset Management Association
- The SMRP in the US
- Members of ABRAMAN in Brazil
- JAAM, Japanese Association of Asset Management
- Gulf States Maintenance and Reliability Society, GSMR
What’s the difference between competency and certification knowledge check?
A knowledge check, or an education, refers to taking a training course and learning the material offered within. For this, there are often exams or assignments to show the learner picked something. When it comes to skills and work experience, you need to demonstrate that you can put your knowledge to action in the workplace. The main difference between these certifications:
- CTAMs tend to have great depth and expertise in a specific domain of AM.
- CPAMs are great in breadth across multiple domains.
- Both CTAMs and CPAMs are strong practitioners within the field of AM.
- CSAMs take on larger managerial or leadership roles in their organizations, such as establishing and updating management systems and frameworks across a larger span of their organization.
These specifications recognize that skills and knowledge can be achieved through different career pathways and operational environments. Applying for a CPAM, CSAM, or CTAM requires you to provide evidence of what you’ve done and work experience applications for some of the higher levels. There may even be reference checks.
CTAMs
CTAMs are responsible for leading technical application and management of an element in their domain. It’s part of an integrated AM system or framework at the organization aligned to the 39 in the AM landscape.
CPAMs
CPAMs are similar to CTAMs, but they establish and update management oversight across more of a domain. So, several different domains within the integrated AM system. It recognizes that AM is not a narrow focus on one discipline but how it integrates with the other drivers of the organization’s business of value. They tend to recommend strategies, policies, tactics, and procedures to get that application and broader improvement across multiple domains.
Difference between CSAMs and CPAMs
A lot of it has to do with the level of management oversight and application at the integrated AM system across a significant area of business responsibility. It’s not just preparing and recommending policy strategy tactics. It’s broad ownership and accountability for the application of AM and its improvement. They’re responsible for the overall contributions to the organizational objectives.
What are the requirements for these certifications?
If you want to find out the application process and the specific requirements:
- If you’re in Canada, visit PEMAC.org.
- For those outside of Canada, visit WPiAM.com.
These will direct you to your local certifying association, where you’ll also find documents that list the descriptors of each certification. You’ll come across the specifications and minimums necessary for every certifying association to have their certifications accredited by World Partners.
Is regular continuing education necessary?
Yes, it is. Similar to professions and certifications like those in engineering, accounting, project management, supply management, there are minimum requirements for continuing professional development. Part of the way to keep up skills to expand your career and have meaningful work experience is to practice by being a practitioner within the AM field.
Benefits of these certifications
The main benefit from an individual career path or a hiring organization’s perspective is having a structured framework for recognizing competency.
What makes these stand out against other available certifications?
The transferability between companies, industries, and countries is currently the only way to measure an AM certification equivalence granted by an association. The GCS’s foundational basis ensures a baseline of competency of the knowledge, skills, and work experience that individuals can use to guide their career progression. HR departments and hiring teams can also use these to set the expectations for internal staff or consultants to assist with the AM journey.
In summary
No matter what your early studies field was, these certifications guide you on a career path or opportunities as an AM practitioner. As the hiring manager or someone looking for expertise to guide your AM journey, you’ll know what competencies to expect in those you hire, based on their certification level.
Eruditio Links:
Susan Lubell Links:
- Susan Lubell – Linkedin
- World Partners in Asset Management
- WPiAM Certifications
- Asset Management Council of Australia
- Society of Maintenance & Reliability Professionals
- PEMAC Asset Management Association of Canada
- Asset Management Landscape
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