A.  

Value

B.  

Asset

C.  

Risk

D.  

Cost

A.  

Agreed performance / levels of service

B.  

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

C.  

Required residual risk profile

D.  

All True

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

A.  

Changes in performance levels to deliver the objectives for the organization

B.  

Obsolescence and lack of spare parts

C.  

Reduction in demand

D.  

New technology in the market place

E.  

Changes to legislation

A.  

Collate the standards which define the collection, storage and use of asset information

B.  

Provide the overall framework and plan for asset information which will deliver the organisation’s asset information requirements

C.  

Specify the requirements for procuring the organisation’s asset information system

D.  

Calculating the lowest cost options for the entire commercial life of a building

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

D.  

All false

A.  

Risk registers, statutory/environmental/financial constraints, O&M manuals, detailed work plans

B.  

Maintenance schedules, stakeholder lists, annual financial reports, asset forecasts

C.  

Improvement objectives, maintenance schedules, asset forecasts, As-Built drawings

D.  

Improvement objectives, strategic risks and opportunities,statutory/environmental/financial constraints, asset forecasts

E.  

Strategic risks, constraints, O&M manuals, As-Built drawings

A.  

Five

B.  

Six

C.  

Seven

D.  

Three

A.  

Ageing assets

B.  

Poor asset condition

C.  

Capital investment in new assets

D.  

Increased number of asset failures that affect service levels

E.  

Interest rates

A.  

The Senior Engineer

B.  

The Head of Asset Management

C.  

The Board Audit Committee

D.  

The Top Management Team

E.  

An Independent Auditor

A.  

Value creation

B.  

Waste elimination

C.  

Value objective

D.  

The Assets

A.  

Historical demand

B.  

Drivers for demand and the change in demand over time

C.  

Changes in required levels of service and/or products

D.  

All above true

A.  

Option A

B.  

Option B

C.  

Option C

D.  

Option D

E.  

Option E

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

A.  

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

B.  

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

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

A.  

All about Value, Risk, Maintenance

B.  

All about Purpose, Process, People

C.  

All about Asset, People, System

D.  

All about Security System

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

C.  

Influencing the Organisational Strategic Plan through structured engagement

A.  

Consider what customers want and how to limit change

B.  

Consider how to discourage future demand growth

C.  

Consider how to encourage customer demand

D.  

Consider how and why current and future customer requirements are assessed

E.  

Focus on historical customer requirements for forecasting

A.  

The requirements of key stakeholders, roles and responsibilities, AM principles, framework for strategy and objectives, and review frequency

B.  

The mandated requirements, roles and responsibilities, key departments, framework for strategy, and review frequency

C.  

Mandated requirements, roles and responsibilities, AM principles, strategy framework, and AMP details

D.  

Mandated requirements, AM principles, roles and responsibilities, strategy framework, and commitment to continuous improvement

E.  

Mandated requirements, AM principles, roles and responsibilities, key risks, and review frequency

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

C.  

Assurance is the combination of monitoring and auditing

D.  

Visible senior level leadership and commitment is insignificant in organisations

A.  

Asset Manager involved in asset management

B.  

Top Management involved in asset management

C.  

Stakeholders involved in asset management

D.  

Everyone who touches or influences what happens to an asset is involved in asset management

A.  

Value added

B.  

Lifecycle

C.  

Probability

D.  

All true

A.  

Prepare to phase out type A as they are near the end of life

B.  

Start an asset rationalisation study on type A (and maybe B) to determine the possible end-of-life options

C.  

Replace type A and B with 80 new type C trams to standardize fleet

D.  

Prepare an overhaul for type A and B

E.  

Modify type A and B to maintain service and solve obsolescence

A.  

Output of lifecycle cost analysis

B.  

Age of the asset

C.  

Design life

D.  

Up front capital cost

E.  

Warranty period

A.  

Asset information is always worth collecting regardless of cost

B.  

Asset information has maintenance costs as well as collection costs

C.  

Asset information can be treated as an asset in its own right

A.  

Objectives, stakeholders, strategy alignment, and risk mitigation

B.  

Activities, resources, costs, timeframes, and responsibilities to meet AM objectives

C.  

Capability development, system design, and risk mitigation

D.  

Long-term asset management approach and conversion of organizational goals

E.  

Framework for translating strategy into AM objectives

A.  

Availability of finance, demand forecasts, maintenance schedules

B.  

Availability of finance, demand forecasts, risk appetite

C.  

Availability of capital, service performance requirements, historic demand

D.  

Historic cost trends, demand forecasts, cost of capital

E.  

Cost of capital, demand forecasts, competitor analysis