CIPS Exam L4M8 Topic 11 Question 2 Discussion

Actual exam question for CIPS's L4M8 exam

Question #: 2
Topic #: 11

[All L4M8 Questions]

Describe two ways in which an organization with which you are familiar could use continuous im-provement as part of whole life asset management.

AExplanation:
Continuous improvement relates to removing waste from the supply chain and improving processes to increase efficiency within whole life asset management in a full power project (a flour producing firm) can benefit from continuous improvement in the following ways;
1) Reduce cost of spears by recondition parts, instead of disposing them out rightly.
2) Can reduce down time by conducting routine maintenance after hours.
3) Can reducing accident by up skilling operators on safety
4) Can reduce waste oil by following owner's manual instead of relying on experience.
5) Create efficiencies by operating a 24/7 shift pattern.
*
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Suggested Answer: A

by Meaghan at Oct 17, 2022, 11:59 AM

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Ricarda

2 days ago

I see your point, Gearldine. Another way could be conducting routine maintenance after hours to reduce downtime. That way, the organization can maximize asset utilization.

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Francis

6 days ago

The question seems straightforward, but I'm not sure if I fully understand the concept of 'whole life asset management.' I'll need to do some research on that before attempting to answer.

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Gearldine

6 days ago

I agree with you, Albina. In my opinion, one way an organization can use continuous improvement is by reconditioning parts instead of disposing them.

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Albina

8 days ago

I think continuous improvement is crucial for organizations. It helps in reducing waste and increasing efficiency.

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