Performance Measurement & Reporting Flashcards

A maintenance department planned 120 jobs for the week and completed 96 of them as scheduled. What is the schedule compliance?

Answer: 80%

Schedule compliance = 96 / 120 = 80%.

Which KPI best indicates how quickly an asset can be restored after a failure?

Answer: MTTR

Mean Time To Repair measures the average time required to restore a failed asset to service.

An asset health index (AHI) is most useful for which reporting purpose?

Answer: Summarizing condition and remaining life risk across an asset portfolio

An AHI combines condition data into a single score to compare and prioritize assets across a portfolio.

When designing KPIs, why should an organization avoid tracking an excessive number of metrics?

Answer: Too many metrics dilute focus and make decision-relevant trends harder to see

A focused, balanced set of KPIs supports clear decisions, while metric overload obscures priorities.

A KPI that rewards low maintenance spending without any reliability counterbalance is most likely to cause which unintended outcome?

Answer: Deferred maintenance and higher future failure risk

Cost-only targets encourage deferring work, which increases future failures and lifecycle costs.

Under ISO 55001, the organization must determine which of the following regarding monitoring and measurement?

Answer: What needs to be monitored, the methods, when it is performed, and when results are analyzed

Clause 9.1 requires defining what, how, when, and when results are analyzed and evaluated.

Which reporting approach best supports the 'balanced' assessment of asset performance?

Answer: Reporting cost, risk, and performance measures together

Asset management seeks to balance cost, risk, and performance, so reporting should reflect all three.