CMRP Asset Management and Life Cycle 2

Question 1

Which metric best indicates whether an organization's asset management program is effectively balancing planned versus unplanned maintenance?

Accepted Answer

Planned maintenance percentage (PMP)

Answer

Overall equipment effectiveness (OEE)

Answer

Mean time to repair (MTTR)

Answer

Parts fill rate

Question 2

What is 'functional location' as used in computerized maintenance management systems (CMMS)?

Accepted Answer

A hierarchical position in the plant structure where an asset is installed

Answer

The physical GPS coordinates of a piece of equipment

Answer

A maintenance technician's assigned work area

Answer

The storage location for spare parts

Question 3

Which ISO standard provides the primary framework for physical asset management systems?

Accepted Answer

ISO 55000

Answer

ISO 9001

Answer

ISO 14001

Answer

ISO 31000

Question 4

What is the purpose of an asset criticality ranking in a maintenance program?

Accepted Answer

To prioritize maintenance resources toward assets with the greatest impact on safety, production, and cost

Answer

To determine which assets should be replaced first

Answer

To rank maintenance technicians by skill level

Answer

To schedule preventive maintenance intervals

Question 5

In the context of asset life cycle, what does 'recommissioning' typically involve?

Accepted Answer

Restoring a dormant or mothballed asset to operational service

Answer

Commissioning a brand-new asset for the first time

Answer

Decommissioning an asset for disposal

Answer

Transferring an asset to a different facility

Question 6

Which financial approach allocates a portion of an asset's cost as an expense over its useful life to reflect consumption of value?

Accepted Answer

Depreciation

Answer

Amortization of goodwill

Answer

Capital expenditure budgeting

Answer

Net present value analysis