ASTM E3140-19

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.
Designation: E3140 − 19
Standard Guide for
Asset Management Career Development, Education, and
Training
This standard is issued under the fixed designation E3140; the number immediately following the designation indicates the year of
original adoption or, in the case of revision, the year of last revision. A number in parentheses indicates the year of last reapproval. A
superscript epsilon (´) indicates an editorial change since the last revision or reapproval.
1. Scope responsibility of the user of this standard to establish appro-
priate safety, health, and environmental practices and deter-
1.1 This guide provides the principles for anAsset Manage-
mine the applicability of regulatory limitations prior to use.
ment Career Development program including education and
1.9 This international standard was developed in accor-
training for professional employees engaged in the practice of
dance with internationally recognized principles on standard-
asset management.
ization established in the Decision on Principles for the
1.2 As a guide, this is the consensus of the asset manage-
Development of International Standards, Guides and Recom-
ment profession for the requirements for anAsset Management
mendations issued by the World Trade Organization Technical
Career Development (AMCD) program.
Barriers to Trade (TBT) Committee.
1.3 The use of this guide by the profession can improve
2. Referenced Documents
professional competence, enhance value from assets, reinforce
or establish adequate internal controls, encourage a broader
2.1 This listing is not intended to be a complete list of
and higher level of competency and thinking by its
reference documents; however, it may prove useful in devel-
practitioners, reinforce the use of innovative and cost-effective oping a plan to better understand the training and development
practices, create greater commonality between all entities that
goals and priorities established by this guide.
perform asset management, and increase the ability of entities 2
2.2 ASTM Standard:
to respond to changing needs and business conditions.
E2453 Practice for Estimating the Life-Cycle Cost of Own-
1.4 The AMCD program establishes the recommended ership of Property Assets
education, training, and experience requisites necessary for
2.3 ISO Standards:
asset management activities to adequately support the missions
ISO 55000 Asset Management -- Overview, principles and
and objectives of an entity’s asset management operations, and
terminology
therefore supports the entities’ missions.
ISO 55001 Asset management -- Management systems --
Requirements
1.5 TheAMCD program is predicated on multiple levels of
ISO 55002 Asset management -- Management systems --
professional competency and achievement based on a combi-
Guidelines for the application of ISO 55001
nation of academic education and training and professional
experience.
3. Terminology
1.6 It is the responsibility of each entity that adopts this
3.1 Definitions of Terms Specific to This Standard—Terms
guide to confirm the appropriateness of any specific education
areinorderof(understanding)andnotalphabeticallyarranged.
and training offerings.
Similar job titles may be used within organizations.
1.7 This guide encourages a broad and continuous self-
3.1.1 asset management, n—the coordinated activity of an
study practice for those within the profession as applicable
organization to realize value from assets. The scope of asset
knowledge and lessons learned are disseminated continuously
management is circumstantial based upon the nature of an
from multiple sources.
entity’s work, customer base, and identified objective, policies,
1.8 This standard does not purport to address all of the and plans. It generally covers the lifecycle of assets and
safety concerns, if any, associated with its use. It is the
For referenced ASTM standards, visit the ASTM website, www.astm.org, or
contact ASTM Customer Service at service@astm.org. For Annual Book of ASTM
This guide is under the jurisdiction of ASTM Committee E53 on Asset Standards volume information, refer to the standard’s Document Summary page on
Management and is the direct responsibility of Subcommittee E53.01 on Process the ASTM website.
Management. Available from International Organization for Standardization (ISO), ISO
Current edition approved July 1, 2019. Published August 2019. DOI: 10.1520/ Central Secretariat, BIBC II, Chemin de Blandonnet 8, CP 401, 1214 Vernier,
E3140–19. Geneva, Switzerland, http://www.iso.org.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States
E3140 − 19
disposition. The types of assets managed should be included in comparable experience means supervision, decision-making,
the entity’s policies and may include entity, customer or grant recognized subject matter expert, or lead supervision of re-
property, tangible and intangible property, and other types of sources (not necessarily personnel). This experience outside of
assets. asset management could include project management, program
management, financial management (budget), accounting,
3.1.1.1 Discussion—All employees have some level of skill
auditing, facilities, software management, subcontract
set(s). All employees have knowledge gaps. To be successful
management, team leadership, activity as the sole asset man-
within theAsset Management Career field, all employees need
ager in an AMCD or institution, and like type experience
to be competent in given job assignments or developing that
regardless of title. Asset managers should have similar educa-
competence in an AMCD program. Similar job titles may be
tional backgrounds as other business management professions
used within organizations and may or may not represent the
but not less. Overall business management knowledge and
same level of competence as described here. Asset employee
skills are generally broader than asset management disciplines.
levels include the following:
Due to the greater complexity and magnitude of assets at this
3.1.1.2 asset specialist, n—an employee who is new to asset
level, the greater need for higher levels of competence, which
management.
may include formal degree programs in an asset management
or asset management related program, for example, supply
3.1.1.3 asset administrator, n—generally an employee who
chain management, production and inventory control, and
has worked in asset management or asset management related
program management. Recommended Associate’s or Bach-
function for at least three years and has a variety of entry level
elor’s Degree with emphasis in Asset Management or related
work experience in several of the functional areas (see 3.1.1.4)
field. (See Table 1.)
ofassetmanagement.Anadministratorgenerallydoesnothave
managerial authority but has the assignment to carry out policy
3.1.1.6 asset senior manager, n—at the senior manager
and other’s managerial decisions.
level, there is a change of balance of responsibilities, that is,
more responsibility for the program, less day to day transaction
3.1.1.4 Discussion—Functional areas of personal property
oversight, and a greater role in managing multiple teams.
asset management are identified and described in Practice
Senior managers have decision-making authority over asset
E2453. They include, with some additions beyond Practice
management programs, personnel, and systems decisions.
E2453, but are not limited to:
They are the interface to other business managers and to
(1) Asset Management Life Cycle Processes:
executive management. They have a broader, deeper back-
(a) Requirements planning
ground that could/should include experience in other related
(b) Acquisition
disciplines, for example, contracts, subcontracts, productions,
(c) Receiving
etc., and require a greater depth and breadth of understanding
(d) Identification
of the organization’s mission and products. Generally, this
(e) Records (and database administration)
level of appointment should have a recommended Bachelor’s
(f) Utilization
Degree in Asset Management or related field. (See Table 1.)
(g) Consumption
(h) Maintenance, and metrology (calibration) and reha- 3.1.1.7 asset management director, n—from the senior man-
bilitation
ager level, the director has multiple disciplines for which they
(i) Movement and Storage, Transfers, and Transportation are responsible that are associated with asset management.
(j) Physical Inventory
This could include contracting, subcontracting, and other
(k) Reports occupational groups and titles. They have responsibilities on
(l) Subcontractor control (for those assets at vendors)
project, program, and management teams for decisions for the
(m) Audits and Self Assessments organizationmissionandgoals.Theyareontheexecutiveteam
(n) Disposition, Impairments, and Retirement
(not just have communication with it). They manage the asset
(2) Asset Management Related Processes: management program and systems’ decisions for a broader
(a) Environmental Issues
organization or multiple organizations; they make personnel
(b) Security/protection decisions on a program or organization level, but not on
(c) Property Financial Accounting
individuals. Recommended Master’s Degree inAsset Manage-
(d) Contracts, Grants, and Agreements ment or related field. (See Table 1.)
(e) Property insurance
3.1.2 baseline of knowledge, n—this is the starting point of
(f) Compliance Ownership, Responsibility, and
knowledge and should include an inventory of knowledge,
Accountability, Leadership
skills, and level of recognized competence.
(g) Fleet Management, including water and aircraft
(h) Statutory Issues, for example, EAR and ITAR 4. Significance and Use
3.1.1.5 asset manager or asset management subject matter 4.1 The asset management career field has many career
expert, n—an employee who has worked in asset management disciplines (particularly asset management consistent with ISO
for at least six years, has work experiences in a majority of the 55000 definitions, concepts, and requirements) that support an
functional areas (see 3.1.1.4), and four years of more respon- entity’s activities. These career titles may include, but are not
sible managerial or comparable experience, and the employee limited to, industrial asset management specialists, asset
has completed an appropriate AMCD program. Managerial or administrators, property asset management, operations,
E3140 − 19
TABLE 1 Qualifications
Level Formal Academic Education Training Years of Experience
Asset Specialist, Entry No formal degree requirement None. It is anticipated that individuals employed Zero (0). It is expected that this individual would
Level at this level do not have any formal education or have no, or very limited, exposure to the field of
training in Asset Management. Asset Management or knowledge of the field
that is very rud
...