IAM Updated IAM-Certificate Exam Questions and Answers by santiago

While performance degradation is important, it is typicallymanaged operationally.Obsolescence, legal requirements, and demand changesare more critical decommissioning drivers due to their irreversible or non-negotiable nature.

Exact Extract from IAM – Asset Management: An Anatomy (v4), Section 3.4.5 – Disposal:

“Key triggers for asset disposal include: obsolescence, unavailability of parts, legislative change, and declining demand.”

A sound strategy evaluatesfuture customer needsto ensureasset capability and investment planningis aligned. Backward-looking or restrictive approaches do not align with proactive asset management.

Exact Extract from IAM – Asset Management: An Anatomy (v4), Section 4.3 – Demand Analysis:

“Asset strategies must reflect an understanding of both current and future customer requirements, including external drivers of demand.”

Thecorrect and widely accepted definition of asset management—particularly as defined by ISO 55000—is thecoordinated activityto realizevalue from assetsthroughlifecycle managementaligned with strategic goals.

Exact Extract from ISO 55000:2014, Clause 3.3.1 – Asset Management:

“The coordinated activity of an organization to realize value from assets.”

Asset management is designed to delivervalueby ensuring:

Assets perform according to agreed service levels

Financial returns (ROI/RONA) are optimized

Risks are managed to an acceptable (residual) level

These components align with ISO 55000’s definition of value realization through asset-related decisions.

Exact Extract from IAM – Asset Management: An Anatomy (v4), Section 2.1 – Realizing Value:

“Asset management must deliver value through alignment with performance, financial returns, and risk tolerance criteria.”