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NEW QUESTION # 14
When undertaking whole-life cost analysis it is important to remember that:
- A. It is impossible to get the right answer unless all the data and information are understood
- B. The analysis should be completed without reference to other organisational functions to ensure independence
- C. As many costs as possible should be included in the analysis ensuring these are consistently derived between analyses
Answer: A
NEW QUESTION # 15
In what year did the term "asset management" start to be used!
- A. 0
- B. 1
- C. 2
- D. 3
Answer: B
NEW QUESTION # 16
Which are included in the asset life cycle :
- A. Acquire - Commission - Operate - Diaspora
- B. Acquire - Commission - Operate - Dispose
- C. Acquire - Commission - Performance- Dispose
- D. Acquire - Corporate- Operate - Dispose
Answer: B
NEW QUESTION # 17
The term optimizing describes.
- A. The process of Maintenance the best value compromise between a set of competing factors, in order to support asset management decision-making
- B. The process of review the best value compromise between a set of competing factors, in order to support asset management decision-making
- C. The process of control the best value compromise between a set of competing factors, in order to support asset management decision-making
- D. The process of establishing the best value compromise between a set of competing factors, in order to support asset management decision-making
Answer: D
NEW QUESTION # 18
A key role of asset management is to assure the delivery of value, in line with, except :
- A. agreed performance / levels of service
- B. Company Profile
- C. Return on Investment (ROI) and/or Return on Net Assets (RONA
- D. Required residual risk profile
Answer: B
NEW QUESTION # 19
External stakeholders can influence asset management activities within an organisation by:
- A. Defining the renewal and maintenance policies which govern the creation of the asset management plan
- B. Having the power of veto over what the organisation does
- C. Influencing the Organisational Strategic Plan through structured engagement
Answer: C
NEW QUESTION # 20
What is the correct top-down hierarchy order for the following PAS 55 defined documents?
- A. Asset Management Policy, Plans, Strategy and Objectives
- B. Asset Management Policy, Strategy, Objectives and Plans
- C. Asset Management Policy, Objectives, Strategy and Plans
- D. Asset Management Strategy, Policy, Objectives and Plans
Answer: B
NEW QUESTION # 21
How many roles are there in the IAM Competences Framework?
- A. Three
- B. Seven
- C. Six
- D. Five
Answer: B
NEW QUESTION # 22
A definition of asset management is:
- A. The optimal life cycle management of physical assets to sustainably achieve the stated business objectives?
- B. a grouping of investments that exhibit similar characteristics and are subject to the same laws and regulations
- C. The optimal maintenance an organisation undertakes on its assets?
- D. A clear understanding of the linkages between each stage in the asset lifecycle?
Answer: C
NEW QUESTION # 23
Based on ISO 55000 regarding asset management system, which of the following statements is false!
- A. Is application agnostic
- B. Provides a documented foundation for the asset management operation
- C. Is a regulation to help the organization
- D. Is not a software
Answer: C
NEW QUESTION # 24
Effective asset management can enhance an organization's reputation and its ability to .......?
- A. All true
- B. Meet its regulatory and statutory obligations
- C. Operate safely.
- D. Reduce the cost of managing assets over their lives.
Answer: A
NEW QUESTION # 25
What is an Asset Management System as defined by PAS 55?
- A. The system by which organisations can manage and influence stakeholder requirements
- B. The asset information technology system used for collating and analysing asset data
- C. The management system which organises and drives all asset management activities
- D. The asset system which organises all data management activities
Answer: C
NEW QUESTION # 26
What is one of the most important elements of asset management ?
- A. None of above
- B. The role of organisational culture
- C. The control of management risk
- D. Company profile
Answer: B
NEW QUESTION # 27
An ISO 55000 asset management system provides the structure, methodology and mechanism to helping asset-intensive organizations deliver on their objectives.
- A. True
- B. False
Answer: A
NEW QUESTION # 28
What is the purpose of whole-life cost analysis?
- A. To determine the most important costs associated with an asset
- B. To determine the renewal costs at the end of an asset's life
- C. To determine the option for a particular decision which has the lowest costs over the life of the asset
Answer: C
NEW QUESTION # 29
The concept of 'line of sight' means .....
- A. Stake holders involved in asset management
- B. Top Management involved in asset management
- C. everyone who touches or influences what happens to an asset is involved in asset management
- D. Asset Manager involved in asset management
Answer: C
NEW QUESTION # 30
There are many factors that can drive the decommissioning of assets, expect:
- A. cost of retaining in service
- B. compliance with changes in legislation
- C. obsolete technology
- D. excess of service capacity
Answer: B
NEW QUESTION # 31
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