Final Topic

Question 1

Definition of an asset?

Answer 1

A property owned by a person or organisation of value capable of meeting debts, commitments of legacies

Question 2

Definition of Asset Management?

Answer 2

Cost effective way of systematically deploying, operating, upgrading maintaining and disposing of assets

Question 3

How much infrastructure does NZ own?

Answer 3

$110 billion

Question 4

What is the role of infrastructure?

Answer 4

Economic productivity, communication, education, health and safety, mobility and standard of living.

It is pressured by climate change, sustainability, disasters, demand for oil

Question 5

What are the benefits of sustainable management of infrastructure (SMI)?

Answer 5

Understanding of service level options, costs and risks

Decision making based on benefits and costs of alternatives

Communicate and justify funding requirements to internal and external parties

Stewardship of assets

Question 6

What does level of service relate to a customer?

Answer 6

It is the outputs a customer receives from a company

Question 7

What does SMARTER stand for?

Answer 7

S - specific
M - measurable
A - achiveable
R - relevant
T - time period
E - Evaluation
R - reasses

Question 8

What percentage of decisions are made from emotional or instinctive connection?

Answer 8

90 - 95%

Question 9

What are the advantages and Disadvantages of Multi Criteria Analysis?

Answer 9

Advantages
Fast and dirty
Combined with other tools, it is very effective

Disadvantages
Difficult to determine weights
Inconsistencies of weights