CRL EXAM|| 50 QUESTIONS AND
ANSWERS (GRADED A+)
What are the 4 key themes of asset management? - ANSWER-1. Aligned objectives
2. Transparent and consistent decision making
3. Long term strategic view
4. Risk based decision making from position of knowledge
What do AM policy, SAMP, and AM plans document? - ANSWER-They document the
approach and method for realizing value from assets.
Who approves the higher level documents like the AM Policy and SAMP? - ANSWER-
The top levels of management.
What should the Asset Management (AM) plan contain? - ANSWER-1. The
organizations objectives
2. The key asset management principles the organization will work towards.
3. A commitment to continual improvement.
What does the Asset Management plan look like? - ANSWER-The AM policy is
generally one page or less, and as a useful tool for communicating the organizations
principles, and intend to internal and external stakeholders, another critical success
factor for asset management
What do the AM policy, SAMP, and AM plans entail? - ANSWER-Should ensure assets
are delivering value that meets stakeholders' needs. It should be a collaborative and
integrated process that uses a transparent and consistent approach.
What is Corporate Responsibility (Cr) - ANSWER-How organizations take responsibility
for managing the impacts of their activities on society and the environment.
Why is Cr important? - ANSWER-Cr is an enterprise-wide engagement that is viewed
as an investment in the sustainability future of organization.
What are the typical areas of Cr activities? - ANSWER-1. Business ethics and ethnical
procurement
2. Community investment
3. Human Rights
4. Sustainability
5. Stakeholder Relations
What does SAMP stand for? - ANSWER-Strategic Asset Management Plan
, What does the SAMP provide rules for? - ANSWER-How asset management decision-
making is to be carried out.
How should the SAMP respond to business needs? - ANSWER-It should be dynamic.
What type of approach is the SAMP? - ANSWER-A holistic approach to managing
assets.
SAMP Rules of the Game - ANSWER-ISO5500 one requires organizations to capture
criteria for decision-making and subsequently use those criteria in the development of
AM plans
What is SAMP? - ANSWER-A document that provides the strategy for converting
stakeholders' views in terms of required outcomes and reporting - turning decisions into
outcomes.
What following areas does the SAMP address? - ANSWER-1. Starting point
2. Intended outcomes
3. Scope of the SAMP (Timescales, Asset Base, Responsibilities, Asset Management
System)
4. Rules of the game
What drives the importance of SAMP? - ANSWER-Driven by stakeholders, both internal
and external.
What must the strategic goals of the organization be translated into? - ANSWER-Asset
level targets.
What type of view should the SAMP address? - ANSWER-A long term, strategic view
transcending business planning cycles.
How should assets be regarded in the SAMP? - ANSWER-As a means of providing
value to the organization.
SAMP vs. AM policy - ANSWER-The AM policy is a place to present this at a high-level,
but many organizations choose to use the SAMP as a medium for capturing and
communicating, detailed decision-making criteria, as well as explaining how those
criteria should be used in decision-making to ensure they are applied consistently and
transparent across all areas of the organization
Factors to consider to include for SAMP - ANSWER-Capturing stakeholders values
around key areas such as safety environment, financial performance, and customer
satisfaction to name the main ones. These are often translated from high-level values
into decision-making framework.
ANSWERS (GRADED A+)
What are the 4 key themes of asset management? - ANSWER-1. Aligned objectives
2. Transparent and consistent decision making
3. Long term strategic view
4. Risk based decision making from position of knowledge
What do AM policy, SAMP, and AM plans document? - ANSWER-They document the
approach and method for realizing value from assets.
Who approves the higher level documents like the AM Policy and SAMP? - ANSWER-
The top levels of management.
What should the Asset Management (AM) plan contain? - ANSWER-1. The
organizations objectives
2. The key asset management principles the organization will work towards.
3. A commitment to continual improvement.
What does the Asset Management plan look like? - ANSWER-The AM policy is
generally one page or less, and as a useful tool for communicating the organizations
principles, and intend to internal and external stakeholders, another critical success
factor for asset management
What do the AM policy, SAMP, and AM plans entail? - ANSWER-Should ensure assets
are delivering value that meets stakeholders' needs. It should be a collaborative and
integrated process that uses a transparent and consistent approach.
What is Corporate Responsibility (Cr) - ANSWER-How organizations take responsibility
for managing the impacts of their activities on society and the environment.
Why is Cr important? - ANSWER-Cr is an enterprise-wide engagement that is viewed
as an investment in the sustainability future of organization.
What are the typical areas of Cr activities? - ANSWER-1. Business ethics and ethnical
procurement
2. Community investment
3. Human Rights
4. Sustainability
5. Stakeholder Relations
What does SAMP stand for? - ANSWER-Strategic Asset Management Plan
, What does the SAMP provide rules for? - ANSWER-How asset management decision-
making is to be carried out.
How should the SAMP respond to business needs? - ANSWER-It should be dynamic.
What type of approach is the SAMP? - ANSWER-A holistic approach to managing
assets.
SAMP Rules of the Game - ANSWER-ISO5500 one requires organizations to capture
criteria for decision-making and subsequently use those criteria in the development of
AM plans
What is SAMP? - ANSWER-A document that provides the strategy for converting
stakeholders' views in terms of required outcomes and reporting - turning decisions into
outcomes.
What following areas does the SAMP address? - ANSWER-1. Starting point
2. Intended outcomes
3. Scope of the SAMP (Timescales, Asset Base, Responsibilities, Asset Management
System)
4. Rules of the game
What drives the importance of SAMP? - ANSWER-Driven by stakeholders, both internal
and external.
What must the strategic goals of the organization be translated into? - ANSWER-Asset
level targets.
What type of view should the SAMP address? - ANSWER-A long term, strategic view
transcending business planning cycles.
How should assets be regarded in the SAMP? - ANSWER-As a means of providing
value to the organization.
SAMP vs. AM policy - ANSWER-The AM policy is a place to present this at a high-level,
but many organizations choose to use the SAMP as a medium for capturing and
communicating, detailed decision-making criteria, as well as explaining how those
criteria should be used in decision-making to ensure they are applied consistently and
transparent across all areas of the organization
Factors to consider to include for SAMP - ANSWER-Capturing stakeholders values
around key areas such as safety environment, financial performance, and customer
satisfaction to name the main ones. These are often translated from high-level values
into decision-making framework.
