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| Section | Weight | Objectives |
|---|---|---|
| Sustainability, Ethics and Governance in Asset Management | 15% | - Governance, standards and regulatory frameworks - Sustainable asset management and ESG principles - Ethical and responsible sourcing of assets - Circular economy and asset lifecycle sustainability |
| Principles of Whole Life Asset Management | 20% | - Definition, scope and importance of asset management - Role and contribution of procurement in asset management - Asset lifecycle stages: planning, acquisition, operation, maintenance, disposal - Value creation and whole life value concepts |
| Asset Disposal and End-of-Life Management | 15% | - Asset valuation and residual value calculation - Environmental and legal obligations in disposal - Disposal options: sell, reuse, recycle, donate, scrap - Data management and asset record keeping |
| Asset Planning and Acquisition | 25% | - Contract types and supplier selection for assets - Whole life costing and total cost of ownership - Asset requirements definition and specification - Options appraisal: buy, lease, rent, outsource, in-house - Procurement processes for capital assets |
| Asset Operation, Maintenance and Performance | 25% | - Compliance, health, safety and environmental requirements - Asset utilization and performance monitoring - Maintenance strategies: preventive, corrective, predictive - Inventory and spare parts management - Asset reliability, availability and risk management |
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NEW QUESTION # 19
What advantage can the use of ABC classification of stock provide in warehouse design?
Answer: D
NEW QUESTION # 20
A cardiac department within a local hospital carries out a small number of specialist emergency care heart surgeries each year. The devices implanted in the patients can vary significantly depending on the condition of the patient. Therefore, the hospital requires a stock management technique that minimizes the cost of holding several different items of stock, without impacting the critical service levels, and allowing the supplier to retain the title of the stock until the hospital's cardiac team utilizes it. Which of the following stock management techniques would enable the hospital to achieve this?
Answer: D
Explanation:
Vendor-owned stock allows the hospital to keep essential items available without holding costs. The vendor retains ownership until the item is used, helping the hospital avoid large upfront costs for low-frequency items. This technique aligns with whole-life asset management principles by reducing inventory holding costs while ensuring critical items are readily accessible.
NEW QUESTION # 21
Which component of an RFID device is responsible for sending and receiving radio waves?
Answer: D
Explanation:
RFID tags are made of three different components: an RFID chip, which is an integrated circuit (IC), an antenna, and a substrate. RFID Antennas are necessary elements in an RFID system be-cause they convert the RFID reader's signal into RF waves that can be picked up by RFID tags. Without some type of RFID antenna, whether integrated or stand-alone, the RFID reader cannot properly send and receive signals to RFID tags.
NEW QUESTION # 22
Which of the following costs may be considered part of the holding costs of inventory?
* The cost of sales and the cost of ordering of the goods
* The cost of ordering and the cost of pilferage of the goods
* The cost of pilferage and the cost of insurance of the goods
* The cost of insurance and the cost of deterioration of the goods
Answer: A
Explanation:
Holding costs, or carrying costs, include all costs associated with storing unsold goods. These typically consist of:
* Insurance costs: Fees associated with insuring stored goods.
* Deterioration costs: Potential loss from goods that deteriorate, expire, or are rendered unusable over time.
* Pilferage costs: Losses due to theft or misplacement of goods.
These factors affect the total cost of ownership in asset management, ensuring that only essential stock levels are maintained to avoid unnecessary holding costs.
Options 1 and 2 include costs not generally classified under holding costs (such as the cost of sales), making D the correct answer.
NEW QUESTION # 23
An organisation might find it more beneficial to lease and use an asset over a predetermined period. After this period, the lessee has the right to secure an outright ownership of the asset by paying an agreed amount; otherwise, the asset would be repossessed by the lessor. Which of the following is an advantage of leasing?
Answer: C
NEW QUESTION # 24
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