CMRP Asset Management — Questions and Answers
Question 1: What is the asset lifecycle in maintenance and reliability?
- The warranty period only
- The complete life of an asset from acquisition through operation to disposal or replacement (Correct answer)
- The time between maintenance checks
- The manufacturer's suggested lifespan
Correct answer: The complete life of an asset from acquisition through operation to disposal or replacement
The asset lifecycle encompasses all phases: planning, acquisition, installation, operation, maintenance, and eventual decommissioning or replacement.
Question 2: What is Reliability Centered Maintenance (RCM)?
- Maintaining equipment on a fixed schedule
- A systematic process to determine the most effective maintenance strategy for each asset based on its failure modes (Correct answer)
- Repairing equipment only when it fails
- A maintenance budgeting method
Correct answer: A systematic process to determine the most effective maintenance strategy for each asset based on its failure modes
RCM analyzes the functions, failure modes, and consequences for each asset to develop the most cost-effective maintenance strategy, which may vary by component.
Question 3: What is a spare parts criticality analysis?
- Counting all spare parts
- Evaluating spare parts based on their impact on operations to determine optimal stocking levels (Correct answer)
- Comparing spare part prices
- Disposing of unused parts
Correct answer: Evaluating spare parts based on their impact on operations to determine optimal stocking levels
Criticality analysis evaluates each spare part's importance to operations, lead time, and cost to determine whether to stock it, the optimal quantity, and reorder points.
Question 4: What does 'life cycle cost' include?
- Purchase price only
- All costs from acquisition through operation, maintenance, and disposal over the asset's entire life (Correct answer)
- Only maintenance costs
- Installation costs only
Correct answer: All costs from acquisition through operation, maintenance, and disposal over the asset's entire life
Life cycle cost includes purchase, installation, energy, maintenance, downtime, and disposal costs — often revealing that cheaper initial purchases may cost more over time.
Question 5: What is condition-based maintenance?
- Maintaining equipment when convenient
- Performing maintenance based on actual equipment condition indicators rather than fixed schedules (Correct answer)
- Maintaining only equipment in good condition
- Maintenance performed under certain weather conditions
Correct answer: Performing maintenance based on actual equipment condition indicators rather than fixed schedules
Condition-based maintenance monitors actual equipment parameters (vibration, temperature, oil analysis) and triggers maintenance when indicators show degradation.
Question 6: What is a criticality ranking for equipment?
- How expensive the equipment is
- A classification of how important each asset is to production, safety, and environmental compliance (Correct answer)
- The age of the equipment
- The color-coding system for equipment
Correct answer: A classification of how important each asset is to production, safety, and environmental compliance
Criticality ranking evaluates equipment based on its impact on production, safety, quality, and environmental compliance, helping prioritize maintenance resources.
CMRP Asset Management
What is the asset lifecycle in maintenance and reliability?