IAM-Certificate Dumps with Practice Exam Questions Answers

Option D covers all key elements described in ISO 55001: compliance, alignment, clarity of roles, continuous improvement, and a basis for strategic and tactical planning.

Exact Extract from ISO 55001:2014, Clause 5.2:

“The policy should include: appropriateness, commitment to compliance and improvement, framework for setting objectives, and alignment with strategy.”

TheAsset Information Strategydefines how asset data is governed, managed, and utilized across its lifecycle. It supports quality, accessibility, and traceability of information.

Exact Extract from IAM – Asset Information Strategy:

“The strategy provides the plan and framework that supports the effective management and use of asset information aligned to asset management objectives.”

Thepolicydefines the guiding principles, while thestrategytranslates these into organizational objectives and the approach to achieve them.

Exact Extract from ISO 55001:2014, Clause 5.2 and Clause 6.2:

“The policy provides the framework for objectives. The strategy identifies how to achieve them through organizational planning and resource alignment.”

Lifecycle cost analysisprovides a complete financial picture of both options (repair vs. replace). It considers capital, operating, maintenance, and disposal costs—enabling informed decisions.

Exact Extract from IAM – Asset Management: An Anatomy (v4), Section 4.5.1 – Lifecycle Costing:

“Lifecycle cost analysis enables decision-making based on total cost of ownership rather than isolated capital or operational expenditure.”

Acondition assessmentprovides a direct, objective evaluation of asset health—physical wear, functional capability, risk indicators—which is more accurate than indirect or historical metrics.

Exact Extract from IAM – Asset Management: An Anatomy (v4), Section 4.2.3 – Condition and Performance Monitoring:

“Condition assessment provides the basis for understanding asset health and supports risk-based decision-making.”