Question 1

Uptime Elements are:&#10;A) A reliability framework for asset management&#10;B) A list of the practices necessary for good maintenance practice&#10;C) The standard way to approach issues of assets&#10;D) A boondoggle designed to sell magazines

Accepted Answer

Uptime Elements are a reliability framework for asset management that outline best practices and processes for effective management of physical assets, maximizing their value and minimizing their risk.

Question 2

What are the five knowledge domains of the Uptime Elements?&#10;A) Leadership, Asset Management, Reliability Engineering, Asset Condition, Work Execution&#10;B) Observe, Record, Plan, Act, Do&#10;C) Mechanical, Electrical, Civil, Nuclear, Systems&#10;D) Observe, Think, Measure, Plan, Test

Accepted Answer

The Uptime Elements consist of five knowledge domains: Leadership, Asset Management, Reliability Engineering, Asset Condition, and Work Execution.

Question 3

ISO 55000 is an International standard for&#10;A) Asset Management&#10;B) Managing Assets&#10;C) Life cycle costing&#10;D) Risk management

Accepted Answer

ISO 55000 is the International standard for Asset Management. It provides guidance and principles for the management of assets throughout their life cycle, including acquisition, operation, maintenance, and disposal.

Question 4

What does the mission of the organization have to do with all of this?&#10;A) It determines the direction of the organization and guidance for decisions.&#10;B) The mission is a poster on the wall that has no impact on anyone.&#10;C) Makes sense for non-profits but not for anyone else&#10;D) Another piece of evidence that corporations are corrupt

Accepted Answer

The mission of the organization is crucial as it sets the purpose and goals of the organization. This mission statement guides decision-making and determines the direction of the organization.

Question 5

The law views the maintenance supervisor as someone that has no standing (not an officer of the company and has no rights, responsibilities or power).

Accepted Answer

While the maintenance supervisor may not be an officer of the company, they do have responsibilities and powers within their role. They may also have certain rights afforded to them by labor laws and contracts.

Question 6

What is budgeting?&#10;A) All&#10;B) A process to prioritize and control all the financial expenses and revenue in advance to ensure business goals are met.&#10;C) A rational process designed to forward the organization goals&#10;D) A tool to make sure goals are met for all parts of the organization&#10;E) A sometimes short-sighted technique of controlling spending

Accepted Answer

Budgeting encompasses all aspects mentioned in the options, as it involves prioritizing and controlling financial expenses and revenue, aligning with organizational goals, ensuring goals are met across the organization, and sometimes being criticized for short-sightedness.

Question 7

In a legal contract in the US, why is taking a contract out on someone who has wronged you a problem from a contract law point of view?
B) If it is over $500, it must be in writing and it would be stupid to put something like that in writing.
C) It is wrong to have people killed. Period.
D) There is no honor among hired killers.

Accepted Answer

The answer of In a legal contract in the US,...

Question 8

For valuable assets ISO 55000 recommends:&#10;A) ISO 55000 is concerned with the policies and strategies to manage the assets&#10;B) ISO 55000 says that high-risk assets should be governed by RCM or other sophisticated technique&#10;C) ISO 55000 is mostly concerned about financial assets like stocks and bonds&#10;D) ISO 55000 recommends bank vault level security for expensive assets

Accepted Answer

ISO 55000 is concerned with the policies and strategies to manage assets, including valuable assets. It does not specify any particular technique for managing high-risk assets or recommend specific security measures for expensive assets. It is not limited to financial assets, but instead applies to all types of assets.

Question 9

If your grant of authority is $1000, and you need to buy something for $2700, the best strategy is:&#10;A) Get permission from the next level up to make the buy&#10;B) Issue 3 requisitions of $900 to cover the $2700&#10;C) Use your bosses credit card because you know she keeps it in her upper right drawer (It is easier to ask for forgiveness then it is to ask for permission)&#10;D) You are out of luck.

Accepted Answer

The best strategy is to get permission from the next level up to make the buy since the grant of authority only covers $1000. Option B is not feasible as it doesn't align with the grant of authority. Option C is unethical and can lead to consequences down the line. Option D is not a constructive solution.

Question 10

One advantage of using the Uptime Elements is:&#10;A) All&#10;B) Common language&#10;C) Defined roadmap&#10;D) Clear hierarchy

Accepted Answer

The Uptime Elements offer multiple advantages, including a common language, a defined roadmap, and a clear hierarchy. Therefore, the best choice is "All."

Deck 6: Motivation