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| Section | Objectives |
|---|---|
| Topic 1: Disposal and End-of-Life Management | - Asset disposal strategies
|
| Topic 2: Understanding Asset Management | - Principles of whole life asset management
|
| Topic 3: Asset Acquisition and Procurement | - Sourcing and procurement of assets
|
| Topic 4: Risk and Value Management | - Managing asset-related risk
|
| Topic 5: Operation and Maintenance | - Asset performance and reliability
|
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NEW QUESTION # 178
A procurement manager has been asked to justify the purchase of a large piece of capital equipment valued at
£500,000 to internal stakeholders. The procurement manager decided to prepare the justification using a comprehensive formal business case due to the value of the purchase. Were they correct in doing this?
Answer: B
NEW QUESTION # 179
Objective forecasting techniques must be based on which of the following?
1. Opinions
2. Figures
3. Facts
4. Jugdement
Answer: D
Explanation:
Subjective forecasting uses qualitative methods (surveys, opinions) which relay on perception and opinion.
Objective forecasting uses quantitative methods (facts and figures). Both methods have to make assumption about how closely (or not) the future will resemble the present and the past. Forecasting is never exact.
NEW QUESTION # 180
For which of the following is the 'delphi method' used?
Answer: C
Explanation:
Delphi method is a structured forecasting technique using a panel of experts and a number of rounds of questioning. Responses are shared after each round and the experts encouraged to recon-sider their own responses. It is intended to achieve a consensus view.
Reference: CIPS study guide 109-111
LO 2, AC 2.3
NEW QUESTION # 181
Your company has established the number of new warehouses it requires and the locations it wishes to build them. The next step is to think about the structural design and capacity. There are different factors to consider in getting these things correct. Which of the following factors can influence the design of a new warehouse facility?
Answer: B
NEW QUESTION # 182
Which of the following code systems is commonly used by governments as a basis for their Cus-toms tariffs and for the collection of international trade statistics?
Answer: D
Explanation:
The Harmonized Commodity Description and Coding System, also known as the Harmonized System (HS) of tariff nomenclature is an internationally standardized system of names and numbers to classify traded products. It came into effect in 1988 and has since been developed and maintained by the World Customs Organization (WCO) (formerly the Customs Co-operation Council), an independent intergovernmental organization based in Brussels, Belgium, with over 200 member countries.
The Global Trade Item Number (GTIN) is an identifier for trade items, developed by GS1. Such identifiers are used to look up product information in a database (often by entering the number through a barcode scanner pointed at an actual product) which may belong to a retailer, manufacturer, collector, researcher, or other entity.
The Global Location Number can be used by companies to identify their locations, giving them complete flexibility to identify any type or level of location required.
The International Mobile Equipment Identity (IMEI) is a number, usually unique, to identify 3GPP and iDEN mobile phones, as well as some satellite phones.
Reference:
LO 1, AC 1.2
NEW QUESTION # 183
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