Quizzes Flashcards
“Which of the following should a maintenance team be most familiar with?
A. Asset procurement & procedure.
B. Asset disposal strategy.
C. Computerised maintenance management system
D. Asset information strategy
E. Capital Investment Plan.”
C. Computerised maintenance management system
“Which of the following most closely describes the requirements of an asset management plan.
A. A long-term plan, covering 5 to 10 years, showing the strategic objectives of the asset management system and regulatory demands.
B. Be limited to the business plan time horizon, detailing capital and operational expenditures and head count.
C. A long-term plan, covering 5 to 25 years, detailing share price, capital and operational expenditures and head count.
D. A short-term plan, covering 1 year, detailing maintenance work volumes and risk costs.
E. The intended activities for managing an asset or asset system over its whole life cycle to optimize costs, risks and performance.”
E. The intended activities for managing an asset or asset system over its whole life cycle to optimize costs, risks and performance.
“Which management functions will make the LEASTinput to decisions about asset rationalisation?
A. Information Management.
B. Operations.
C. Engineering.
D. Finance.
E. Maintenance.”
A. Information Management.
“Which of the following is NOTnormally associated with end of life strategy?
A. Life extension.
B. Design.
C. Procurement
D. Obsolescence.
E. Disposal.”
B. Design
“Which of the following is the LEAST important when considering end-of-life options for an asset?
A. Cost of ownership.
B. Predicted remaining useful life
C. Cost of recent renovation
D. Changes to legislation.
E. Low availability of spares and maintenance engineering skills.”
C. Cost of recent renovation
“When a decision to decommission an asset has been taken, which of the following is NOT a decommissioning activity?
A. Performing a whole-life cost analysis.
B. Removing chemical contamination.
C. Making safe residual structures.
D. Changes to asset inventory and documentation.
E. Selection of safe demolition processes.”
A. Performing a whole-life cost analysis.
“How is the need for evident coherence between Asset Management strategy and planning documents in a best practice approach typically described?
A. Transparency.
B. Equivalence.
C. Joined up thinking.
D. Governance.
E. Alignment”
E. Alignment
“Which of the following is NOT a quality measure of asset data?
A. Accuracy.
B. Volume
C. Consistency.
D. Correctness.
E. Timeliness”
B. Volume
“Choose the most appropriate answer to the following statement: ‘A CMMS system (Computerised Maintenance Management System) usually…’
A. Evaluates optimal inspection intervals.
B. Calculates optimal life cycles.
C. Stores and retrieves records, and issues and controls planned maintenance instructions
D. Estimates optimal refurbishment timing.
E. Identifies optimal protective device testing intervals.”
C. Stores and retrieves records, and issues and controls planned maintenance instructions
“Sensitivity analysis can be used to
A. Determine the precise outcome of each option under evaluation.
B. Create detailed analytical models.
C. Test the effect of fluctuations in share price on the value of the asset base.
D. Predict the rate of asset deterioration over time.
E. Make an informed investment decision where there is uncertainty in the input data.”
E. Make an informed investment decision where there is uncertainty in the input data.
“Which of the following is an example of measure of the effectiveness of the asset management system?
A. Delivery of asset management objectives.
B. Number of customer interruptions.
C. A company’s asset management maturity score.
D. Cost against budget.
E. Number of audits completed.”
A. Delivery of asset management objectives.
“Which of the following would you LEAST associate with an ageing infrastructure?
A. Increased maintenance costs
B. Increased failures.
C. Increased inspections.
D. Increased asset value.
E. Increased insurance premiums.”
D. Increased asset value.
“Which of the following statements is correct?
A. The Asset Management System defines the asset management capabilities an organisation needs to deliver its Asset Management Plan.
B. The Strategic Asset Management Plan describes the long term approach for managing assets and asset management capabilities.
C. An organisation’s current asset management capabilities are the constraints within which an Asset Management Strategy must be developed.
D. An organisation’s asset management capabilities cannot be defined until the Asset Management Strategy has been written.
E. Development of the Asset Management Strategy does not need to take account of asset management capabilities.”
B. The Strategic Asset Management Plan describes the long term approach for managing assets and asset management capabilities.
“Whole life cost analysis can enable an organisation to…
A. Reduce service failure rates by ensuring adequate capital to achieve maximum return on investment.
B. Maximise asset performance in perpetuity.
C. Minimise maintenance and operational and capital investment costs.
D. Deliver lowest price to customers in the short term.
E. Assess the cost of providing the required service over the lifecycle of the asset.”
E. Assess the cost of providing the required service over the lifecycle of the asset.
“Which event would have the most immediate effect on operational asset management performance?
A. Pandemic.
B. Climate change.
C. System failure.
D. Supply chain disruption.
E. Disruption to financial markets.”
C. System failure.
“Which of the following is the most important to the quality of maintenance delivery?
A. Competence of maintenance staff.
B. Outsourcing strategy.
C. Completion of planned preventive maintenance schedule.
D. Procurement policy.
E. Reduction of maintenance budget.”
A. Competence of maintenance staff.
“According to ISO 55000:2014, Top Management is defined as
A. Representatives from all stakeholder management teams that contribute to the asset management system.
B. The Director of Asset Management.
C. The Operations and Maintenance Management Team.
D. Those who direct and controls an organisation at the highest level with power to delegate authority and provide resources within the organisation.
E. The organisations regulatory body.”
D. Those who direct and controls an organisation at the highest level with power to delegate authority and provide resources within the organisation.
“Which of the following is NOT a dimension of data quality?
A. Completeness.
B. Accuracy.
C. Validity.
D. Consistency.
E. Translatability.”
E. Translatability.
“Which of the following represents a good practice approach to acquiring asset information from asset installation projects?
A. Asset information should be entered directly into the asset register by installation contractors.
B. Asset information is gathered using defined data formats during asset design.
C. Asset information is gathered as a managed process throughout the life of the project.
D. Asset information should be gathered by maintainers using defined data formats on asset handover.
E. Asset information should be exported directly from the corporate project management system to the asset register.”
C. Asset information is gathered as a managed process throughout the life of the project.
“Which of the following is the most effective procurement strategy to support good asset management?
A. Procurement of the least expensive assets available.
B. Procurement of the most durable assets with the longest life cycles.
C. Procurement of the solution offering the lowest whole life cost of ownership.
D. Procurement of assets with the fewest likely operational interruptions.
E. Procurement of assets from tried and tested supply chain.”
C. Procurement of the solution offering the lowest whole life cost of ownership.
“When contracting out asset management services, what should always form the basis of supplier selection?
A. A supplier that quotes the lowest purchase price
B. A supplier who can provide scoped services that provide the best value
C. A supplier that is willing to take on all of the risk.
D. A supplier that is willing to sign a framework contract.
E. A supplier that agrees to a list of agreed penalty clauses.”
B. A supplier who can provide scoped services that provide the best value
“Verifying the quality of asset information collected during maintenance and inspection activities is best achieved by:
A. Assessing the quality of shift reporting from the operations department.
B. Checking the completeness of records returned from maintenance and inspection
C. Ensuring maintenance reports on failure rates and planned maintenance backlogs are correct.
D. Sample auditing of maintenance and inspection records for comparison with physical condition of assets
E. Assessing incident reports for the previous six months with respect to predicted performance.”
D. Sample auditing of maintenance and inspection records for comparison with physical condition of assets
“Recording asset defects and failures is MOSTeffective when?
A. Information validation checks are included at the point of collection.
B. There is a broad range of defect and failure codes covering all possible types of failure.
C. There is free text entry of defect and failure details.
D. There is a broad range of failure codes and a small number of defect codes.
E. There is a broad range of defect codes and a small number of failure codes.”
A. Information validation checks are included at the point of collection
“Which of the following would NOT be typically found in an Asset Management Strategy?
A. Asset Management system processes
B. An overview of the risks associated with the asset portfolio.
C. An overview of the asset portfolio.
D. The strategic context and business drivers for Asset Management.
E. Detailed work plans including resources and timescales”
E. Detailed work plans including resources and timescales
“What should be the MOST significant consideration before deploying complex life-cycle decision-making methodologies?
A. Age of the assets and amount of spend involved.
B. Whether the asset management maturity of the organisation enables the benefits to be realised.
C. Size of the organisation and number of assets.
D. The requirements of third party stakeholders.
E. The requirements of the shareholders.”
B. Whether the asset management maturity of the organisation enables the benefits to be realised.
“Which of the following is not relevant when you are considering whether to repair or replace a defective asset?
A. Future demand for the assets operation.
B. Defect history.
C. Cost of repair versus cost of replacement.
D. Cost of recent refurbishment
E. Asset Management Objectives.”
D. Cost of recent refurbishment