Information Management & Data Quality Flashcards

What is the primary purpose of a Computerized Maintenance Management System (CMMS) in asset management?

Answer: To track, schedule, and record maintenance activities and asset data

A CMMS centralizes maintenance scheduling, work order management, and asset history, enabling informed decisions and compliance tracking.

According to ISO 55000, asset management information should be:

Answer: Accurate, timely, complete, and consistent to support decision-making

ISO 55000 specifies that information must be of sufficient quality — accurate, timely, complete, and consistent — to support effective asset management decisions.

Which of the following is a primary function of an asset register?

Answer: Providing a comprehensive inventory of assets with key attributes such as location, condition, and value

An asset register serves as the authoritative record of an organization's assets, capturing attributes like location, condition, age, and replacement value.

Data accuracy in asset management is best described as:

Answer: The degree to which data correctly reflects the real-world asset attributes it represents

Accuracy means the data values stored match the actual physical or financial reality of the asset, reducing errors in decisions based on that data.

Geographic Information Systems (GIS) add value to asset management primarily by:

Answer: Enabling spatial visualization and location-based analysis of assets

GIS allows organizations to map and analyze assets by location, supporting routing, proximity analysis, and spatial planning decisions.

What is the role of data governance in an asset management information system?

Answer: It establishes policies, standards, and accountability for managing data quality and access

Data governance defines ownership, standards, and processes to ensure data is consistently managed, maintained, and trusted across the organization.

Master data management (MDM) in asset management is primarily concerned with:

Answer: Maintaining a single, consistent, and authoritative source of key asset data across all systems

MDM ensures that critical asset data (like asset IDs, classifications, and hierarchies) is consistent and synchronized across CMMS, ERP, GIS, and other platforms.