The Institute of Public Works Engineering Australasia (IPWEA) has celebrated an update to the Australian and New Zealand Standard Classification of Occupations (ANZSCO) which has formally recognised the Infrastructure Asset Manager as a specialisation.
This landmark achievement acknowledges the critical importance of asset management in delivering sustainable infrastructure and services to communities across Australia, New Zealand, and beyond.
IPWEA said that the inclusion of asset management in the ANZSCO framework represents a long-overdue acknowledgment of the expertise and professionalism required to manage infrastructure assets effectively. It validates the skills, knowledge, and strategic contributions of asset management practitioners in industries ranging from public works and utilities to private enterprises and non-profit sectors.
IPWEA President, Ian Daniels said that this is a historic moment for the profession.
“The formal recognition by ANZSCO reflects the growing understanding of asset management as a vital field that delivers long-term value, economic sustainability, and improved quality of life for communities,” Mr Daniels said.
The recognition of asset management as a profession has far-reaching benefits, including:
- Professional standards: establishing clear qualifications and career pathways for asset management professionals
- Workforce development: enhancing recruitment, retention, and training opportunities for practitioners
- Policy and advocacy: strengthening the role of asset management in government and corporate decision-making
- Global leadership: reinforcing Australia and New Zealand’s leadership in the global asset management community
Asset management plays a pivotal role in optimising the lifecycle of infrastructure, balancing cost, risk, and performance to achieve sustainable and affordable outcomes.
IPWEA has long championed the advancement of asset management through its training programs, leading to global certification with the World Partners in Asset Management (WPiAM), and thought leadership, including the globally recognised International Infrastructure Management Manual (IIMM) aligned to the ISO 55000 Asset Management Standards and the GFMAM (Global Forum on Maintenance and Asset Management) Landscape document.
IPWEA has called on governments, industry leaders, and educational institutions to support the formal recognition by embracing asset management as a critical discipline. By investing in the development of skilled professionals, the asset management sector can ensure the resilience and sustainability of infrastructure for generations to come.
