IAM IAM-Certificate Exam With Confidence Using Practice Dumps

Maintenance schedulesare theoutputof planning rather than a prerequisite input. The other options are critical drivers in determining what actions should be planned.

Exact Extract from ISO 55002:2018, Clause 6.2 – Planning for AM Objectives:

“Inputs include asset information, demand forecasts, AM objectives, organizational priorities, and risk assessments.”

ISO 55001 specifies the key elements that must be addressed in an organization's asset management policy. These include:

Consistencywith the organizational strategic plan

Appropriatenessto the size and nature of the organization

Commitmentto continual improvement and compliance

Frameworkfor setting asset management objectives

Communicationof the policy throughout the organization

This combination ensures the policy aligns operational activities with strategic outcomes.

Exact Extract from ISO 55001:2014, Clause 5.2 – Asset Management Policy:

“The asset management policy shall:

a) be consistent with the organizational strategic plan;

b) be appropriate to the nature and scale of the organization’s assets;

c) include a commitment to satisfy applicable legal requirements and continual improvement;

d) provide a framework for setting asset management objectives;

e) be communicated within the organization.”

Asset management is designed to delivervalueby ensuring:

Assets perform according to agreed service levels

Financial returns (ROI/RONA) are optimized

Risks are managed to an acceptable (residual) level

These components align with ISO 55000’s definition of value realization through asset-related decisions.

Exact Extract from IAM – Asset Management: An Anatomy (v4), Section 2.1 – Realizing Value:

“Asset management must deliver value through alignment with performance, financial returns, and risk tolerance criteria.”