IAM-Certificate Practice Questions

A.  

effectively communicated, never reviewed, supported by top management, consistent with stakeholder requirements and aligned with other organisational policies

B.  

effectively communicated, regularly reviewed, supported by the risk teams, consistent with stakeholder requirements and aligned with other organisational policies

C.  

effectively communicated, regularly reviewed, supported by top management, consistent with stakeholder requirements and not aligned with any other organisational policies

D.  

effectively communicated, regularly reviewed, consistent with stakeholder requirements, supported by top management and kept confidential

E.  

effectively communicated, regularly reviewed, supported by top management, consistent with stakeholder requirements and aligned with other organisational policies

A.  

The sum of the maintenance and operating costs divided by the service life of the asset in years

B.  

The sum of the costs in the Create, Operate, Maintain and Disposal phases

C.  

The life cycle costs divided by the service life of the asset in years

D.  

The annual costs to operate and maintain the asset

E.  

The annual capital investment costs in the create and mid-life upgrade phases

A.  

Strategic planning is describes how the organisation will develop and improve its asset management capabilities

B.  

Strategic planning is the process for establishing asset management objectives and developing the asset management strategy

C.  

Strategic planning is usually undertaken as part of the overall organisational management

D.  

Strategic planning explicitly considers the life cycle of the assets and the interdependencies between each of the life cycle stages

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.  

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.  

False

B.  

True

A.  

Overarching objectives that sets the context and direction for an organization’s activities

B.  

A set of objectives that define the level of risk the organization is comfortable with

C.  

Overarching objectives that defines succession plans for the top management team

D.  

Specific, measurable and achievable objectives that inform staff how to manage assets

E.  

Detailed action plans for different teams across the organization

A.  

Seven

B.  

Four

C.  

Six

D.  

Five

A.  

The Asset Management Strategy

B.  

The Asset Management Policy

C.  

The Asset Maintenance Strategy

D.  

Standard Operating Procedures

E.  

Annual Departmental Objectives

A.  

Tendered costs

B.  

Whole-life cost models

C.  

Engineering estimates

D.  

Suppliers' quotations

E.  

Published data