Asset Management (3) Flashcards
What was your advice on a new asset management strategy?
I advised on developing a comprehensive asset management strategy.
Why did you advise this was necessary?
It was necessary to ensure effective management and compliance.
What did you advise on the content of an asset management strategy?
The strategy should include objectives, processes, and performance measures.
What was your advice on key performance indicators?
Key performance indicators should be established to measure success.
What was your advice on the barriers to delivery?
Identify potential barriers such as funding and resource limitations.
What was your advice on key risks?
Assess and mitigate risks associated with asset management.
How did Cornerstone’s assets contribute to the risk for further regulator downgrades?
Cornerstone’s assets were underperforming, increasing regulatory scrutiny.
How did Cornerstone’s assets contribute to customer dissatisfaction?
Poor asset conditions led to increased customer complaints.
Did you develop a decent home compliance plan?
Yes, a comprehensive home compliance plan was developed.
How did you manage other impacts?
By implementing strategies to minimize negative effects on stakeholders.
Did you develop a risk register?
Yes, a risk register was created to track and manage risks.
What does the social housing regulator say about an asset management plan?
The regulator emphasizes the need for a clear and effective asset management plan.
Which areas of law did your asset management strategy cover?
The strategy covered property law, health and safety regulations, and environmental laws.
What is planned maintenance?
Planned maintenance refers to scheduled upkeep of assets to prevent failures.
What is a repair and what is a replacement?
A repair fixes an existing asset, while a replacement involves providing a new asset.
What records do you hold of individual assets?
Records include revenue, cost of services, gross profit, and operating expenses.
