#types of ISO 55001 auditing

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The Complete Guide To CAMA Certification

An individual's qualifications in asset management knowledge and comprehension are established by the Certified Asset Management Assessor (CAMA) certification on a global scale. This multiple-choice test is based on the GFMAM ISO55001 Auditor Assessor Specification, ISBN 978 0 9871799 3 7. The exam is created, maintained, and administered by the WPiAM.

The CAMA exam is available in a variety of languages, including:

English

Japanese

French

Portuguese

Spanish

The certification process follows 17024 guidelines and meets with

GFMAM Standard, GFMAM Competency Specification for an ISO 55001 Asset Management System Auditor/Assessor, First Edition, version 2 English

17021 Part 5, Section 5: Competency Requirements for Bodies Conducting Audit and Certification of Management Systems — Part 5: Competency Requirements for the Certification of Asset Management Systems

How Do You Get CAMA Certified?

By successfully passing an online exam and creating a professional profile, you can become a Certified Asset Management Assessor, or CAMA.

The release of the Remote Proctoring Solution, which enables participants to take the CAMA Test anywhere in the world without a face-to-face component being necessary, has given potential CAMA Exam participants more freedom as of Wednesday, June 17, 2020.

The test consists of 110 multiple-choice questions and lasts two hours. The exam is currently offered in English, Japanese, Spanish, French, and Portuguese, with translations into additional languages now under development.

What Exactly Is a Professional Profile?

When auditing and certifying asset management systems, the professional profile is used to demonstrate conformity with ISO 17021-5 Competency standards. This necessitates the experience of auditors in specific asset classes and industry types, which is why this qualification calls for a professional profile.

Does the Certification Need Any Specific Skills?

Indeed, candidates must meet certain requirements before taking the CAMA exam.

Candidates must:

Have a minimum of 5 years of professional asset management experience

Fill a professional profile, which the WPiAM Technical Team will subsequently assess and approve.

This professional profile is intended to demonstrate compliance with ISO 17021-5 "Competence standards for auditing and certification of asset management systems" that requires auditors to have experience in specified industry types and asset classes

Candidates should:

Have practical experience with ISO 5500X Standards

Be familiar with the GFMAM Competence Requirements for an Assessor/Auditor of an ISO 55001 Asset Management System.

It should be emphasised that candidates are not obliged to finish any particular coursework or training before sitting for the CAMA exam.

What is the CAMA Certificate's Validity Period?

The CAMA certificate is valid for three years. Throughout a three-year period, certified individuals can renew their certification by earning CPD points. If a candidate hasn't maintained enough CPD, they'll need to retake the exam and pass it to become certified.

What Advantages Come with CAMA Certification?

A person's qualifications in asset management knowledge and comprehension are established globally by earning the Certified Asset Management Assessor Certification.

Whether a worker is working on an audit team or assisting with the implementation and evaluation of asset management systems, organisations can ascertain the skills and expertise of their employees.

The Joint Australian and New Zealand Asset Management Systems Scheme (AMS Scheme) requirements for "Requirements for entities providing audit and certification of Asset Management Systems," published in April 2015, are also met through certification.

Visit the WPiAM website to find out more about the CAMA certification or the upcoming CAMA exam.

Also Read - WPiAM’s Global Certification Scheme: What Is It?

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Guide to the ISO 55001 Asset Certification in Your Organisation

Ensuring the performance and safety of vital business assets is necessary for organisations to maximise the return on investment (ROI) and bring consistency in their operations. How an owner can demonstrate that his organisation has adopted the best asset management practices and are able to maintain them for higher ROI? Well, the ISO 55001 asset management standard has brought for them the most appropriate asset management framework built upon different best practices. In simple words, it helps you to develop a robust framework or Asset Management System (AMS). The implementation of ISO 55001 AMS drives operational efficiency, saves costs, adds value to your business, and prevents risks across the whole lifecycle of assets. The best practices underpinned by the standard would help you to oversee the assets at every stage, starting from purchase or fabrication, operations, maintenance and improvement, to decommissioning.

If you are considering implementing the ISO 55001 standard, here are a few questions answered to provide you with a quick guide.

Who Needs ISO 55001 Asset Management System?

ISO 55001 is applicable to almost all types of organisations and of any size that has diverse asset portfolios. It is mainly important when the asset portfolios are managed by multiple stakeholders. It helps to bring uniformity in the practices for managing the assets.

What Do You Need to Ensure You Achieve the ISO 55001?

Here are the aspects to ensure while you seek to achieve the ISO 55001 for your AMS.

• Understanding how the standard would benefit your business and stakeholders’ needs or expectations • Development of Strategic Asset Management Plan (SAMP) and ensure leadership in implementing and promoting it across the organisation • Establishment of a defined asset management policy that aligns with the asset types and objectives of your organisation • Defining the roles of the employees regarding the AMS and providing adequate training to them • Determining the goals or intended outcomes of your AMS and finding ways to achieve them avoiding the risks and using the opportunities • Efficient allocation of resources and documentation of the best practices • Preparing for the changing situations in the asset portfolio and making plans to manage them efficiently • Continually evaluating and measuring the performance of your asset management • Performing internal audits to evaluate the effectiveness of the implemented AMS and discovering areas that can be improved

Steps to Get ISO 55001 Certified

You need to follow these key steps to get the ISO 55001 asset management certification for your organisation. Step 1: Read and comprehend the requirements of the standard. It is advisable to seek a consultant’s help to understand the ISO 55001 requirements as well as get ahead in the certification procedure.

Step 2: Perform a careful gap analysis to assess your present situation in the aspect of asset management against the ISO 55001 requirements

Step 3: With the help of consultation, address the identified gaps. Then, understand the basic concepts and methods required to implement the AMS and lead the implementation process by engaging employees.

Step 4: Perform an internal audit to ensure that all necessary requirements of the standard are met by the AMS. Also, make sure that it is working competently and achieving the organisation’s objectives of asset management

Step 5: Select a certification body and apply for the ISO 55001 certification. They would visit and conduct an on-site certification audit in 2 stages. In the first stage, they would check if all documents were in place and in the second stage, they ensure compliance of the AMS with the standard. On being assured, they reward the certificate.

Key Takeaway!

Managing the assets efficiently enables you to get more utilities or services out of them which adds productivity to your business. In today’s competitive and ever-changing business landscapes, the ISO 55001 asset management system is a crucial tool for your business. It not just helps you to maintain your assets effectively but also demonstrates your ability to persistently run your operations and improve your business’s financial prospects. This imparts confidence in your stakeholders, differentiates your business and establishes a strong reputation of your organisation.

Also Read: Significance of Cyber Security Standards and What to Do to Achieve One

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HOW DO YOU GET THE CAMA ASSESSOR CERTIFICATE?

The Certified Asset Management Assessor certificate can be earned by passing an online exam and putting together a professional profile.

Participants in the CAMA Exam will be able to take the exam from any location in the world, as there will be no face-to-face component required starting on Wednesday, June 17, 2020. This new freedom comes as a result of the announcement of the Remote Proctoring Solution, which will make it possible for participants to take the exam remotely.

The test consists of 110 questions with multiple choice answers and lasts for a total of two hours. The test is now offered in the following languages: English, Japanese, Spanish, French, and Portuguese. Additional language versions are actively being prepared.

For what purpose is the professional profile being created?

To demonstrate conformity with the ISO 17021-5 Competence standards for auditing and certifying asset management systems, the professional profile is utilized. As a result of this, auditors are required to have experience in specific types of industries and asset classes; hence, a professional profile is necessary for accreditation in this area.

What are the requirements that must be met before I may become certified?

Applicants must:

Possess a minimum of five years' worth of professional experience working in asset management;

Complete a professional profile, which will later be evaluated by the WPiAM Technical Team and given their stamp of approval. This professional profile is used to demonstrate compliance with ISO 17021-5 "Competence requirements for auditing and certification of asset management systems," which requires auditors to have experience in specific industry types and asset classes. This profile is used to demonstrate compliance with ISO 17021-5 "Competence requirements for auditing and certification of asset management systems."

Applicants should:

Maintain a working familiarity with the ISO 5500X Standards; and

Acquire a solid understanding of the GFMAM Competency Specification for an ISO 55001 Asset Management System Auditor or Assessor.

Please note that in order to take the examination, applicants are not necessary to have previously finished any kind of predetermined training or class.

How long will I be able to use this certification after I have it?

The certificate can be used for a period of time equal to three years. Certifications can be renewed every three years if the holder maintains a certain number of continuing professional development points (CPD). In order to maintain certification, a candidate must retake the exam if they haven't maintained an appropriate level of CPD.

Advantages to Obtaining Certification

Individuals can prove their credentials in asset management knowledge and comprehension on a worldwide scale by earning a Certified Asset Management Assessor Certification. This certification can be earned online.

Organizations are able to ascertain the level of expertise and experience possessed by individuals, regardless of whether the personnel in question are a part of an audit team or are contributing to the implementation and evaluation of asset management systems. The certification also satisfies the requirements for the Joint Australian and New Zealand Asset Management Systems Scheme (AMS Scheme), which was published in April 2015 and titled "Requirements for entities offering audit and certification of Asset Management Systems."

ALSO READ: What Does AMCouncil's Global Certification Scheme Mean?

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HOW DOES ONE OBTAIN THE CAMA ASSESSOR CERTIFICATE?

After passing an online exam and creating a professional profile, you will receive the Certified Asset Management Assessor Certificate.

With the announcement of the Remote Proctoring Solution, potential CAMA Exam participants will have additional flexibility starting on Wednesday, June 17, 2020. This solution will allow participants to take the CAMA Exam from anywhere in the world, without the need for a face-to-face meeting.

A total of 110 multiple-choice questions are included in the two-hour closed-book examination. The exam is now offered in the following languages: English, Japanese, Spanish, French, and Portuguese, with other language versions in the works.

WHAT IS THE PURPOSE OF THE PROFESSIONAL PROFILE?

In order to verify conformity with ISO 17021-5 Competence standards for auditing and certification of asset management systems, the professional profile must be completed and submitted. It is necessary for auditors to have prior expertise in specific industry types and asset classes, which is why this certification requires a professional profile to be completed.

WHAT ARE THE REQUIREMENTS FOR OBTAINING THE CAMA CERTIFICATION?

Applicants must meet the following requirements:

Must have at least 5 years of professional experience in the field of asset management.

Complete a professional profile, which will be evaluated and approved by the WPiAM Technical Team after it has been submitted. In order to demonstrate compliance with ISO 17021-5 "Competence standards for auditing and certification of asset management systems," which requires auditors to have experience in specific industry types and asset classes, this professional profile must be completed.

Applicants should meet the following requirements:

Possess a working knowledge of the ISO 5500X Standards.

Acquire a working knowledge of the GFMAM Competency Specification for an ISO 55001 Asset Management System Auditor or Assessor.

Please keep in mind that there is no requirement for applicants to finish any specific course or training prior to taking the exam.

HOW LONG IS THE CAMA CERTIFICATION VALID FOR IN THE FIRST PLACE?

The certificate is valid for three years from the date of issue. CPD points earned over a three-year period are used to renew certification for those who have earned them. If an applicant has not maintained sufficient CPD, they will be required to retake the exam in order to be certified.

THE ADVANTAGES OF CAMA CERTIFICATION

Individuals who receive the Certified Asset Management Assessor Certification can show their credentials in asset management knowledge and comprehension on a global scale by demonstrating their expertise.

When determining the competence and expertise of individuals, whether they are members of an audit team or assisting in the implementation and evaluation of asset management systems, organisations may make informed decisions. CAMA Certification also satisfies the requirements of the Joint Australian and New Zealand Asset Management Systems Scheme (AMS Scheme): "Requirements for bodies providing audit and certification of Asset Management Systems", which was published in April 2015 and is a joint Australian and New Zealand asset management system scheme.

ALSO READ: WPiAM's Mission and Vision for Certified Asset Management

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HOW IS THE CAMA ASSESSOR CERTIFICATE OBTAINED?

The Certified Asset Management Assessor Certificate is obtained by successfully completing an online exam and professional profile.

From Wednesday 17 June 2020, greater freedom has been granted to potential CAMA Exam participants with the announcement of the Remote Proctoring Solution, allowing participants to undertake the CAMA Exam anywhere around the globe, with no face to face element required.

The exam is a two hour closed book exam, with 110 multiple choice questions. The exam is available in English, Japanese, Spanish, French and Portuguese with additional language versions currently in preparation.

What is the professional profile for?

The professional profile is used to demonstrate compliance with ISO 17021-5 Competence requirements for auditing and certification of asset management systems. This requires auditors to have experience in certain industry types and asset classes, which is why this certification requires a professional profile. 

What are the prerequisites for the certification?

Applicants must:

Have a minimum 5 years of working experience in asset management;

Complete a professional profile which is then reviewed and approved by the WPiAM Technical Team. This professional profile is used to demonstrate compliance with ISO 17021-5 “Competence requirements for auditing and certification of asset management systems” that requires auditors to have experience in certain industry types and asset classes

Applicants should:

Have working knowledge of ISO 5500X Standards; and

Understand the GFMAM Competency Specification for an ISO 55001 Asset Management System Auditor/Assessor.

Please note, applicants are not required to complete any specific course or training prior to the exam.

How long is the certification valid for?

The certificate is valid for three years. Certificants can renew their certification through CPD points over the three year period. If an applicant hasn’t kept adequate CPD, they must pass the exam again to be certified.

Benefits of Certification

For individuals, obtaining the Certified Asset Management Assessor Certification establishes their credentials in asset management knowledge and comprehension, globally.

Organizations are able to determine the competence and experience of personnel, whether they are part of an audit team, or helping to implement and assess asset management systems. Certification also meets the requirements for the Joint Australian and New Zealand Asset Management Systems Scheme (AMS Scheme): “Requirements for bodies providing audit and certification of Asset Management Systems”, April 2015.

Contact us at: - 

227 Collins Street

Hobart, TAS 7000

Australia

Phone: - + 61 3 6234 7844

Email: - info@wpiam.com

Website: - https://www.wpiam.com/cama-exams/

Also Read: - https://www.klusster.com/portfolios/wpiam/contents/168357?code=06f6e6c3-0fca-49ad-93e1-c9bf41479aa2