GUIDE WITH COMPLETE SOLUTIONS
Aim - ANSWER-A purpose or intention; desired outcome for an organization based on
its objectives.
Asset - ANSWER-A thing, entity, or item that has actual or potential value to an
organization
Asset Life - ANSWER-The period from an asset's creation to it end of life.
Asset Management - ANSWER-A coordinated set of activities to ensure value is
delivered or derived from physical assets.
Certified Reliability Leader - ANSWER-An individual who has passed the Association for
Maintenance Professionals exam and is in good standing.
ISO31000 - ANSWER-An international standard that describes the components of a risk
management implementation framework.
ISO55001 - ANSWER-An international standard that describes a framework to support
an asset management process.
Lifecycle - ANSWER-The stages involved in the management of an asset.
Maintenance - ANSWER-The routine, recurring work required to keep assets in a
condition where they can be continuously utilized at their original or designed capacity
and efficiency, for their intended purpose.
Risk - ANSWER-The effect of uncertainty on objectives.
Reliability Engineering Maintenance (REM) - ANSWER-This is the starting point for the
Uptime Elements system and is the most important domain because it is the ONLY
ONE that can reduce failures.
Reliability Program - ANSWER-Each Task should be aimed at:Prevention of failure
cause;
Prediction of a potential failure cause;
Meeting regulation or legal requirement.
Reliability Engineering for Maintenance - ANSWER-1- Inform, educate, enlighten
leadership and team members.