E-CERT PRACTICE EXAM

An Asset Management Policy defines:

• The principles that should underpin an organisation’s Asset Management approach
• The Asset Management improvement objectives an organisation has defined
• The long-term time horizon that aligns Asset Management activities with the organisational strategic plan
• How Asset Management activities should shape the organisational strategic plan
• The work plan of Asset Management activities an organisation intends to undertake

What is a good source of guidance for developing an Asset Management Policy?

• The organisational strategic plan
• The International Infrastructure Management Manual
• The IAM Competences Framework
• ISO 9001
• ISO 55002

An Asset Management Strategy includes:

• A detailed list of the assets that are deemed business or safety critical
• Details of how key external stakeholders are managed by the business
• The Asset Management improvement objectives an organisation has defined
• The principles an organisation should follow in its Asset Management approach
• The work plan of Asset Management activities an organisation intends to undertake

Which of the following best describes how an Asset Management Strategy should be developed?

• It should refer only to the most important Asset Management activities
• It should cover all Asset Management activities but focus on those the organisation gives highest priority
• The strategy should describe what Asset Management activities might be relevant to the organisation in future
• It should treat all Asset Management activities equally
• The strategy should define origins of its Asset Management activities

Which type of document needs to have clear objectives or targets, according to ISO 55001?

• Annual Report
• Strategic Asset Management Plan (SAMP or Asset Management Strategy)
• Maintenance Schedule
• Work Orders
• Asset Management Policy

How is the hierarchy of Asset Management documents in a best practice approach typically described?

• Transparency
• Alignment
• Joined up thinking
• Equivalence
• Governance

Which best describes the importance of risk in good practice Asset Management?

• Risk is more important than costs in making good asset decisions
• Risk is best managed by corporate risk managers
• Risk is less important than costs in making good asset decisions
• Risk is an integral part of good practice Asset Management decisions and techniques
• Asset managers need to manage the health & safety process

What is the main purpose of undertaking Demand Analysis?

• To understand how demand has been met over the last 10 years
• To ensure that the external pressures that drive demand are understood over a defined time period
• To ensure that stakeholder and customer demands for increases in capacity are always met
• To ensure planned Asset Management activities meet required levels of service and demand over a specified period
• To understand whether current demand on the asset base is increasing relative to historical demand

When is demand analysis NOT required?

• An understanding of demand is always required
• When there is sufficient extra capacity in the asset base to support increases in demand
• When a merger or acquisition is underway
• When the organisation is undergoing significant structural change
• When a regulatory body sets the operating requirements of an asset base

Which of the following best describes the relationship between Asset Management and weather and climate change?

• Understanding the impact of weather and climate change is important for managing public perceptions
• Understanding the impact of weather and climate change is an important aspect of forecasting future demand on assets
• Understanding the impact weather and climate change is only important if the organisation is on a floodplain
• Understanding the impact of weather and climate change is not relevant to Asset Management
• Understanding the impact of weather and climate change is only important if an organisation’s assets are very old