What is the Asset Life Cycle?

• 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

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The benefits of an asset management system are...

• A.Formalizes asset management
• B.Establish roles and responsibilities
• C.Bring best practices into the organization
• D.A-B-C are true

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What is one of the most important elements of asset management?

• A.Company profile
• B.The control of management risk
• C.The role of organisational culture
• D.None of above

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An ISO 55000 asset management system provides the structure, methodology and mechanism to helping asset- intensive organizations deliver on their objectives.

• A.True
• B.False

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A policy is best defined as...

• A.Overarching objectives setting context and direction
• B.Intentions and direction as formally expressed by top management
• C.Activities to create value for customers
• D.Temporary endeavor to create unique output
• E.Action plans to attain objectives

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