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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Principles of Asset Management | 33% | - Roles and responsibilities - Value and objectives of asset management - Concepts and definitions - ISO 55000 series overview |
| Topic 2: Managing Asset Life Cycle Decisions and Activities | 17% | - Investment and replacement decisions - Life cycle stages and activities - Performance monitoring and improvement - Operation, maintenance and disposal |
| Topic 3: Assessing and Managing Asset Management Risks | 17% | - Risk concepts and framework - Risk treatment and control - Risk reporting and review - Risk identification, analysis and evaluation |
| Topic 4: Finance and Business Impact | 17% | - Budgeting and funding - Asset valuation and accounting - Costs, benefits and value creation - Business continuity and impact assessment |
| Topic 5: Asset Management Policy, Strategy & Planning | 17% | - Policy development and alignment - Alignment with organizational goals - Strategic asset management plans - Tactical and operational planning |
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NEW QUESTION # 53
Which of the following types of information would NOT normally be required for the development of an asset management plan?
Answer: A
NEW QUESTION # 54
A key role of asset management is to assure the delivery of value in line with:
Answer: A
NEW QUESTION # 55
What are the three fundamental considerations of life cycle decision making which enable asset optimisation?
Answer: D
Explanation:
The correct answer is D . IAM and IAM-aligned guidance consistently describe asset optimization and life cycle decision-making as a balance between performance, cost, and risk . The IAM Anatomy of Asset Management Version 4 explains that asset management decision-making and life cycle optimization support management control to balance risk, cost, and performance , and its glossary notes that realization of value normally involves balancing costs, risks, opportunities, and performance benefits .
The same principle is reinforced in the GFMAM Asset Management Landscape , which states that organizations should use approaches that balance performance, risk, and cost objectives to achieve sustainable value from assets.
Why the other options are incorrect:
* A and E include items that matter operationally, but they are not the IAM fundamental triad for optimization.
* B and C focus on narrower technical or accounting considerations, not the core life cycle decision balance. Therefore, the IAM-verified answer is D .
NEW QUESTION # 56
Risk is best described as:
Answer: B
Explanation:
This is theISO 31000 and ISO 55000 definition of risk. Risk encompassesboth threats and opportunities- any uncertainty that may affect objectives.
Exact Extract from ISO 55000:2014, Clause 3.2.21 - Risk:
"Risk: Effect of uncertainty on objectives."
NEW QUESTION # 57
There are 7 principles of asset management :
Answer: B
NEW QUESTION # 58
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