Only manufacturing organisations

Only public sector organisations

Any organisation, regardless of size or type

Only organisations with physical assets

Only top management

Only external auditors

Those involved in asset management systems and activities

Only regulators

Yes, higher clauses are more important

Yes, they must be implemented in sequence

No, the order does not reflect importance or implementation order

Only partially

To eliminate audits

To reduce documentation

To allow integration with related management systems

To replace other ISO standards

An informal management review

A systematic, independent, and documented process

A financial inspection only

A risk assessment exercise

Certification audit

Supplier audit

Internal audit

Regulatory audit

Financial strength of the organisation

The ability of assets to generate profit

The capacity to achieve asset management objectives

The number of assets owned

Authority given by top management

Ability to use knowledge and skills to achieve outcomes

Availability of resources

Legal compliance

Continuous improvement activity

Completion of a requirement

Meeting financial targets

Risk reduction

To reduce audits

To improve performance repeatedly

To replace preventive actions

To eliminate nonconformities completely

Only written procedures

Only electronic records

Information that must be controlled and maintained

Only audit reports

A planned maintenance activity

A deviation from policy

An unplanned event causing harm or loss

A nonconformity report

Financial auditing

Asset purchasing

Condition or performance monitoring of assets

Staff competence evaluation

A risk event

A fulfilled requirement

Non-fulfilment of a requirement

An organisational objective

A legal requirement

A documented procedure

A result to be attained

An audit finding

Only incorporated companies

Only public institutions

A person or group with defined roles and goals

Only large enterprises

Removing a process from the management system

Assigning an internal process to another department

Having an external organisation perform a function

Eliminating a process entirely

Financial loss only

Equipment failure

Effect of uncertainty on objectives

Nonconformity occurrence

Only physical equipment

Only financial investments

An item with potential or actual value to an organisation

Only property owned by the organisation

Time between asset purchase and first use

Time between asset creation and disposal

Warranty period of an asset

Useful life defined by accounting rules

The most expensive asset

Any asset requiring maintenance

An asset that significantly affects organisational objectives

An obsolete asset

Maintenance of physical assets only

Accounting for asset depreciation

Coordinated activity to realise value from assets

Asset replacement planning

To list all assets

To define maintenance schedules

To translate organisational objectives into asset management objectives

To record asset failures

Preventive action eliminates recurrence

Preventive action removes potential causes before failure

Preventive action occurs after nonconformity

Preventive action replaces monitoring