Asset Disposal Best Practices

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Which of the following is a factor to consider during the decommissioning process?

Customer satisfaction

Quality control

Health & safety (correct)

Market demand

What is the purpose of decommissioning an asset?

To extend the asset's useful life

To return the asset to the original supplier

To assess the asset's market value

To dispose of the asset (correct)

In what situations is a decommissioning process likely to be included in the original contract?

When the asset is a piece of machinery

When the asset is a ship or aircraft (correct)

When the asset is a factory

When the asset is a physical asset

Which of the following is NOT a step in the decommissioning process for a naval warship?

Returning removed items to stores Signup and view all the answers

What is one of the challenges of decommissioning military equipment?

Security constraints Signup and view all the answers

Why is cleaning of a warship important during the decommissioning process?

To remove hazardous materials Signup and view all the answers

What should be done with the removed items from a naval warship during the decommissioning process?

Returned to stores for sorting and evaluation Signup and view all the answers

Which of the following factors should be considered when disposing of a large, fixed asset?

The type of equipment in question Signup and view all the answers

What is the purpose of a risk assessment in the removal and disposal of an asset?

To identify potential hazards and mitigate them Signup and view all the answers

Who is responsible for conducting risk assessments in the decommissioning process?

A specialist risk manager or a team leader Signup and view all the answers

What should be done at the end of the disposal process to improve future decommissioning projects?

Undertake lessons learned or learning from experience (LFE) activity Signup and view all the answers

Which department is typically responsible for accounting for the disposal of assets?

Finance department Signup and view all the answers

What is the purpose of market research in the sales process?

To understand the best method of sale Signup and view all the answers

What information is typically included in a sales contract?

All of the above Signup and view all the answers

When an asset is disposed of for a profit, what might happen?

The organization may be subject to tax Signup and view all the answers

Which of the following is NOT considered an environmental risk in the context of asset management?

Fire hazards Signup and view all the answers

What is one factor to consider when assessing health and safety risks during the removal and disposal of an asset?

The type of PPE to be worn Signup and view all the answers

Why might specialist suppliers be used for the removal and disposal of assets?

To ensure compliance with regulations Signup and view all the answers

What is one factor to consider when selecting a removal/disposal supplier?

The supplier's commitment to environmentally friendly disposal Signup and view all the answers