Procurement and delivery of the solution to time, cost and quality targets. What phase is it?
Correct Answer: C
TheImplementation Phaseinvolves translating approved asset plans into physical or system outputs. It encompassesprocurement, execution, and deliveryto specification and budget constraints. * Concept and definition phasesprecede this stage. * Handoverfollows this phase and deals with asset operational readiness. Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 3.4.2 - Life Cycle Stage: Implementation: "This phase includes procurement, construction, installation, testing, and commissioning of the asset or solution. It is where time, cost, and quality performance is most closely monitored."
Question 27
IAM based decision produce real saving, where saving develop from, except ......
Correct Answer: A
Question 28
Which of the following statements is true:
Correct Answer: C
Question 29
Asset Management should deliver:
Correct Answer: A
Theprimary function of asset managementis to ensure that assets contribute to theachievement of strategic objectives, not solely customer service or shareholder return. Exact Extract from ISO 55000:2014, Clause 2.3 - Purpose of Asset Management: "Asset management enables an organization to realize value from assets in the achievement of its organizational objectives."
