CMRP Asset Management

Question 1

What is the asset lifecycle in maintenance and reliability?

Accepted Answer

The complete life of an asset from acquisition through operation to disposal or replacement

Answer

The warranty period only

Answer

The time between maintenance checks

Answer

The manufacturer's suggested lifespan

Question 2

What is Reliability Centered Maintenance (RCM)?

Accepted Answer

A systematic process to determine the most effective maintenance strategy for each asset based on its failure modes

Answer

Maintaining equipment on a fixed schedule

Answer

Repairing equipment only when it fails

Answer

A maintenance budgeting method

Question 3

What is a spare parts criticality analysis?

Accepted Answer

Evaluating spare parts based on their impact on operations to determine optimal stocking levels

Answer

Counting all spare parts

Answer

Comparing spare part prices

Answer

Disposing of unused parts

Question 4

What does 'life cycle cost' include?

Accepted Answer

All costs from acquisition through operation, maintenance, and disposal over the asset's entire life

Answer

Purchase price only

Answer

Only maintenance costs

Answer

Installation costs only

Question 5

What is condition-based maintenance?

Accepted Answer

Performing maintenance based on actual equipment condition indicators rather than fixed schedules

Answer

Maintaining equipment when convenient

Answer

Maintaining only equipment in good condition

Answer

Maintenance performed under certain weather conditions

Question 6

What is a criticality ranking for equipment?

Accepted Answer

A classification of how important each asset is to production, safety, and environmental compliance

Answer

How expensive the equipment is

Answer

The age of the equipment

Answer

The color-coding system for equipment