1.1 Asset Management principles Flashcards
Definition of asset management is
The optimal lifecycle management of physical assets to sustainably achieved the stated business objectives
What is the definition of asset management according to iso 55000?
Coordinated activities or an organization to realize value from assets
How ISO 55000 defines an asset?
As an item, thing or entity that has potential or actual value to an organization
What is organization people about?
The definition and development of the organization’s culture and capabilities for achieving asset management, including the capabilities of outsourced partners and suppliers
What is asset management decision making about?
It’s six to defined the optimal blend of activities to implement the asset management plan
What is lifecycle delivery about?
Activities concerned with the acquisition, operation, maintenance and disposal of assets
What is asset information about?
Managing the knowledge, information and data on assets and assets systems, to support asset management, planning, decision making and implementation
What is risk and review about?
The definition and development of consistent approaches to the management of asset-related risks, and how this understanding can be used to continually improve the organization’s asset management performance
Which of the following phrases describes best the benefits of asset management?
Asset management benefits, include improved financial and asset, investment decisions, managed, risk, and improved services and outputs
How many elements are there in the asset management conceptual model?
6
What is the latest international standard for asset management?
ISO 55000
What is an asset management system?
 The interacting elements to establish asset management policy, asset management, objectives, and processes to achieve those objectives
