CIPS Level 4 Whole Life Asset Management L4M7 · Free Practice Question Medium
Question 9
Rowan suggests that his organization could gain benefits if they switch to a Whole-life Asset Management (WLAM) approach. He calls for the assembly of a cross-functional team to undertake this project. Is this the correct approach?
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A
Yes, a cross-functional team can provide diverse expertise necessary for such a comprehensive approach
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B
No, because WLAM should be managed by a single department to ensure consistency and control over the process.
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C
No, because WLAM does not require input from various departments and a cross-functional team would complicate the process.
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D
Yes, cross-functional team approach could lengthen the process and help Rowan get more budget for the project
Reveal correct answer
Correct answer: A
Explanation
The correct answer is: Yes, a cross-functional team can provide diverse expertise necessary for such a comprehensive approach.
A Whole-life Asset Management (WLAM) approach benefits from the input of various departments, as it encompasses all stages of an asset’s life cycle, from acquisition to disposal. A cross-functional team can offer a range of perspectives and expertise, which is crucial for the comprehensive management of assets. This approach ensures that all relevant factors are considered, leading to more informed decision-making and ultimately, a more effective WLAM strategy.
Reference: CIPS L4M7 study guide page 185-187 / The new syllabus 2024
LO 3, AC 3.2
Discussion
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