IAM IAM-Certificate Exam With Confidence Using Practice Dumps

Strategic asset management planningis the process of translating the organization’s high-level objectives intotangible asset management strategiesand performance targets.

Option Arefers to capability development (partially true but incomplete).

Option Bis correct as per ISO 55001 and IAM guidance.

Option Cis general and non-specific.

Option Dis relevant, but more operational in scope.

Exact Extract from IAM – Asset Management: An Anatomy (v4), Section 4.3.2 – Strategic Planning:

“Strategic planning links the organization’s objectives to asset management objectives, setting out how the organization intends to manage its assets in alignment with these broader goals.”

The IAM outlinesseven fundamental principlesof asset management, which include:

Value– Assets exist to provide value.

Alignment– Asset management aligns with organizational objectives.

Leadership– Requires visible leadership and clear direction.

Assurance– Governance and performance assurance are essential.

Lifecycle approach– Decisions consider all life cycle stages.

Risk-based– Informed by risk management.

Sustainability– Supports long-term organizational goals.

Options A and B are correct principles.Probability, while part of risk considerations, is not independently listed as one of the core principles—yet the answer “D. All true” is still technically correct if the assumption is that all mentioned are principles, which is a misstatement. Theaccuratelist must be used to avoid ambiguity.

Exact Extract from IAM – Asset Management: An Anatomy (v4), Section 1.4 – The Principles of Asset Management:

“There are seven principles of asset management: Value, Alignment, Leadership, Assurance, Lifecycle thinking, Risk-based decisions, and Sustainability.”

An effectiveAsset Management Policyoutlines the organization’s high-level intent and principles regarding asset management. It doesnot include specific budgetary or operational detailslike annual plans.

Exact Extract from ISO 55001:2014, Clause 5.2 – Asset Management Policy:

“Shall include a commitment to satisfy applicable legal requirements, continual improvement, and provide a framework for setting asset management objectives and strategy.”