9. The comparison between Lean and Asset Management, are ......

B) All about Purpose, Process, People

A) All about Value, Risk, Maintenance

C) All about Asset, People, System

11. ISO 55000 is ......

B) The international reference standard for the optimal management of physical assets.

A) The international reference standard to sets out the criteria for a quality management system

C) The international reference standard that provides the overview of information security management systems

D) The international reference standard to sets out the criteria for an environmental management system

12. Based on ISO 55000 regarding asset management system, which of the following statements is false!

D) Is a regulation to help the organization

C) Provides a documented foundation for the asset management operation

13. The benefits of an asset management system are...

B) Establish roles and responsiblities

C) Bring best practices into the organization

15. ISO 55001 sets out requirements for an asset management policy which fall into five categories:

D) Consistency, Appropriateness, Commitment, A framework, Communication

A) Consistency, Appropriateness, Maintenance, A framework, Communication

B) Consistency, A priori, Commitment, A framework, Communication

C) Consistency, A priori, Commitment, Balancing, Communication

16. In conducting a demand analysis, there are several elements to consider:

B) Drivers for demand and the change in demand over time

C) Changes in required levels of service and/or products

17. Which of the following statements is true !

B) Strategic planning is the process for establishing asset management objectives and developing the asset management strategy

A) Strategic planning is describes how the organisation will develop and improve its asset management capabilities

C) Strategic planning is usually undertaken as part of the overall organisational management

D) Strategic planning explicitly considers the life cycle of the assets and the interdependencies between each of the life cycle stages

19. The objectives that the organization wants to achieve from its asset management activities, are ....

A) to describes an organisation’s long-term approach to managing its assets.

B) the future capability and performance requirements of assets, asset systems and the asset portfolio as a whole

21. According to ISO 55000, assets is .....

C) Item, thing or entity that has potential or actual value to an organization.

A) A type of investment that represents an ownership share in a company

B) Refers to all the materials available in our environment

D) Processed, organised and structured data

22. Effective asset management can enhance an organization's reputation and its ability to .......

B) Reduce the cost of managing assets over their lives.

C) Meet its regulatory and statutory obligations

23. There are 4 fundamentals in asset management, including ....

A) Value, Alignment, Leadership and Assurance

B) Value, Alignment, Leadership and Insurance

C) Value, Competitif, Leadership and Assurance

D) Value, Alignment, Proggresive and Assurance

24. Two widely used approaches to conceptualising value in an organisation are:

B) The Value Stream and Delivery

26. Which of the following statements is true !

C) Assurance is the combination of monitoring and auditing

A) Good asset management has clear connectivity between an organisation’s strategic plan and the value core

B) Assets is not a potential value to an organisation

D) Visible senior level leadership and commitment is insignificant in organisations

29. The term ‘optimising’ describes ......

B) The process of establishing the best value compromise between a set of competing factors, in order to support asset management decision-making

A) The process of Maintenance 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 review the best value compromise between a set of competing factors, in order to support asset management decision-making

31. ISO 55001 defines seven sets of requirements for a management system for asset management, except ...

A) Multi-level Planning for assets and asset management

B) Support for effective management

D) Defining the Organisational Context

32. A key role of asset management is to assure the delivery of value in line with:

A) Agreed performance / levels of service

B) Return on Investment (ROI) and/or Return on Net Assets (RONA)

C) Required residual risk profile

34. A key role of asset management is to assure the delivery of value, in line with, except :

A) agreed performance / levels of service

C) Required residual risk profile

D) Return on Investment (ROI) and/or Return on Net Assets (RONA

35. The concept of ‘line of sight’ means .....

D) everyone who touches or influences what happens to an asset is involved in asset management

A) Asset Manager involved in asset management

B) Top Management involved in asset management

C) Stake holders involved in asset management

36. What is one of the most important elements of asset management ?

C) The role of organisational culture

B) The control of management risk

37. Characteristics of organisational context that affect what is achievable and worthwhile in asset management fall into three categories:

B) Scale and complexity of the asset portfolio

C) Volatility of the business environment

38. Capital Investment Decision-Making comprises the processes to .....

A) evaluate and analyse options for the creation of new assets

B) Decreasing the capability of assets

C) The replacement of modal at the end of their useful life

40. There are many factors that can drive the decommissioning of assets, expect:

B) compliance with changes in legislation

D) cost of retaining in service

a) A BSI Publically Available Specification for the optimized management of physical assets

b) A BSI Previously Available Specification for the optimized management of physical assets

c) A BSI Publically Available Specification for the optimized management of financial assets

d) A BSI Previously Available Specification for the optimized management of financial assets

43. A definition of asset management is:

a) The optimal maintenance an organisation undertakes on its assets?

b) The optimal life cycle management of physical assets to sustainably achieve the stated business objectives?

c) A clear understanding of the linkages between each stage in the asset lifecycle?

d) a grouping of investments that exhibit similar characteristics and are subject to the same laws and regulations

44. Which of these is NOT a key principle of asset management?

c) Reducing the costs of investments

a) Linking decisions to the overall business objectives

b) Applying a whole-life perspective

46. Asset Management should deliver:

a) The organisation’s strategic objectives

b) The maximum dividends for the organisation’s shareholders

c) The maximum level of service for the organisation’s customers

47. What is the correct top-down hierarchy order for the following PAS 55 defined documents?

a) Asset Management Policy, Strategy, Objectives and Plans

b) Asset Management Strategy, Policy, Objectives and Plans

c) Asset Management Policy, Plans, Strategy and Objectives

d) Asset Management Policy, Objectives, Strategy and Plans

48. Which statement is INCORRECT?

c) The Asset Management Policy should be derived from all other relevant organisational policies

a) The Asset Management Policy should be consistent and aligned with all other relevant organisational policies

b) The Asset Management Policy should be consistent and aligned with the corporate objectives and strategy

49. What is an Asset Management System as defined by PAS 55?

b) The management system which organises and drives all asset management activities

a) The asset information technology system used for collating and analysing asset data

c) The system by which organisations can manage and influence stakeholder requirements

d) The asset system which organises all data management activities

50. Which of the following is best described as an Asset Management Objective?

a) A risk-based approach to renewal and maintenance will be adopted

b) Risk-based maintenance will deliver an improvement in the failure rate of assets of 10% for no increase in cost by September 2011

c) Risk-based maintenance will be introduced at Depot A in September 2011 with the following work volumes

d) Risk based provide direction for Asset and Non-Asset Class Plannin

51. External stakeholders can influence asset management activities within an organisation by:

c) Influencing the Organisational Strategic Plan through structured engagement

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

Pra-Exam 2 IAM CERTIFICATE

Authored by Hida Ajmain

Computers, Professional Development, Special Education

Professional Development

Used 135+ times

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MULTIPLE CHOICE QUESTION

1 min • 1 pt

1. Which of the following statements is not a management asset !

A) a recognition that assets have a life cycle

B) an approach that looks to get the best out of the assets for the benefit of the organisation and/or its stakeholders

C) understanding and managing the risk associated with owning assets

D) a substitute for quality management

MULTIPLE CHOICE QUESTION

1 min • 1 pt

2. Asset Management is important because it can help organisations to, except .....

A) Reduce the capital costs of investing in the asset base

B) Increase the potential health impacts of operating the assets

C) Minimise the environmental impact of operating the assets

D) Improve the regulatory performance of the organisation

MULTIPLE CHOICE QUESTION

1 min • 1 pt

3. Asset Management is explicitly focussed on helping organisations to achieve their defined objectives and to determine the optimal blend of activities based on these objectives.

A) True

B) False

MULTIPLE CHOICE QUESTION

1 min • 1 pt

4. Which are included in the asset life cycle :

A) Acquire - Corporate- Operate - Dispose

B) Acquire - Commision - Operate - Diaspora

C) Acquire - Commision - Operate - Dispose

D) Acquire - Commision - Performance- Dispose

MULTIPLE CHOICE QUESTION

1 min • 1 pt

5. This covers everything the goes into planning, designing and procuring an asset.

A) Acquire

B) Commision

C) Operate

D) Dispose

MULTIPLE CHOICE QUESTION

1 min • 1 pt

6. What Is the Asset Life Cycle?

A) a strategic and analytical approach to the management of a business’s assets.

B) a project management system

C) a substitute for quality management

D) All False

MULTIPLE CHOICE QUESTION

1 min • 1 pt

7. There are 7 principles of asset management :

A) Value added

B) Lifecycle

C) Probability

D) All true

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Pra-Exam 2 IAM CERTIFICATE

1. Which of the following statements is not a management asset !

2. Asset Management is important because it can help organisations to, except .....

3. Asset Management is explicitly focussed on helping organisations to achieve their defined objectives and to determine the optimal blend of activities based on these objectives.

4. Which are included in the asset life cycle :

5. This covers everything the goes into planning, designing and procuring an asset.

6. What Is the Asset Life Cycle?

7. There are 7 principles of asset management :

8. AM based decision produce real saving, where saving develop from, except ......

9. The comparison between Lean and Asset Management, are ......

10. Value based on AM is ......

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