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Which of the following is an output of asset management decision making process?

A.

Mandatory actions

B.

Automated choices

C.

Aligned guidance

Which of the following is the main purpose to be measured through condition based monitoring?

A.

Horsepower

B.

Rate of degradation

C.

Asset Replacement Cost

Risk shapes asset management decision making by prioritizing the most significant:

A.

Opportunities

B.

Barriers

C.

Barriers and opportunities

What should risk always be addressing when making asset management decisions?

A.

Asset management objectives

B.

Shareholder profits

C.

Identifying worst case

Which of the following is generally considered to initiate a lean manufacturing pull system of production?

A.

Production output

B.

Sales forecasting

C.

Customer needs

Which of the following words defines an asset that is whole and complete?

A.

Dependability

B.

Durability

C.

Integrity

What does a thermal image camera detect?

A.

Infrared radiation

B.

Temperature

C.

Emissivity

Which of the following represents the typical outcome of an inadequate design?

A.

Higher lifecycle cost

B.

Lower unit cost

C.

Lower lifecycle cost

Which of the following failure patterns represent asset failures in which the occurrence timeline is flat?

A.

Wear-out

B.

Random

C.

Usage

Which of the following ranges of percentages is generally accepted to be a best practice in the item carrying cost per year of stocking an item and holding it in inventory?

A.

40 to 45%

B.

15 to 20%

C.

25 to 30%