Performance Measurement & Reporting Flashcards

An asset was scheduled to run 720 hours in a month but was down for 36 hours. What was its availability?

Answer: 95%

Availability = (720 − 36) / 720 = 684 / 720 = 95%.

Which ISO 55001 requirement directly supports independent verification that the asset management system conforms to requirements?

Answer: Internal audit

Internal audits at planned intervals check conformity and effective implementation of the system.

A backlog report shows 6 crew-weeks of ready work. What does this measure typically indicate?

Answer: The amount of approved, planned work awaiting execution relative to crew capacity

Ready backlog expressed in crew-weeks shows planned work waiting relative to available labor capacity.

What is the main purpose of benchmarking asset performance against peer organizations?

Answer: To identify performance gaps and improvement opportunities

Benchmarking reveals where performance lags peers, guiding improvement targets.

When a monitoring result reveals a nonconformity, what does ISO 55001 require the organization to do?

Answer: React, evaluate the need to eliminate causes, implement action, and review effectiveness

Clause 10 requires reacting to nonconformities, addressing causes, taking action, and reviewing its effectiveness.

Which metric is most appropriate for measuring how much of total maintenance work is planned versus reactive?

Answer: Planned maintenance percentage

Planned maintenance percentage shows the share of maintenance hours spent on planned rather than emergency work.

Why should asset performance reports specify data quality or confidence levels?

Answer: So decision-makers understand how much reliance can be placed on the information

Stating data confidence helps decision-makers judge the reliability of conclusions drawn from the report.