Week 6 - Performance Measurement

Question 1

What document sets out the performance measurement for assets?

Answer 1

The Asset Management Plan.

Question 2

What is the role of an asset owner/senior management team relating to performance measurement?

Answer 2

They are accountable and set the strategic direction and policies.

Question 3

What is the role of an asset manager relating to performance measurement?

Answer 3

• Inform the asset owner/SMT
• Develop plans to meet the policy
• Make decisions within role
• Communicate with regulating bodies

Question 4

What is the role of an asset network manager relating to performance measurement?

Answer 4

• Understand asset systems and interdependencies
• Build asset hierarchy to manage info
• Interpret data for the asset manager
• Prepare subcontracts

Question 5

What is the role of an asset maintenance staff member relating to performance measurement?

Answer 5

• Understand individual components and supplier data
• Work within own budgets
• Feedback important performance data

Question 6

What are the limitations of decision tree analysis?

Answer 6

• Results only represent a basic economic case
• Does not consider PESTLE factors
• Output is dependent upon reliable, up-to-date information