MSc Built Environment: Asset Management Quiz

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Questions and Answers

What is the primary focus of asset management standards such as EN 16646:2014?

Asset valuation techniques

Improvement of financial reporting

Maintenance within physical asset management (correct)

Development of new construction technologies

Which of the following is NOT a reason for the growing interest in physical asset management?

Aging of asset systems

Technological advancements in asset tracking (correct)

Growth in capital intensity

Increased safety requirements

According to ISO 55000, how is an 'asset' defined?

A legal document pertaining to property rights

Any construction material used in building

A technology used for asset management

An entity that holds potential or actual value to an organization (correct)

What does the ISO 55000 framework primarily focus on?

Guidelines for application of asset management systems Signup and view all the answers

Which international standard provides guidance on the alignment of financial and non-financial functions in asset management?

PD ISO/TS 55010:2019 Signup and view all the answers

Which of the following does NOT represent a type of value associated with assets?

Emotional value Signup and view all the answers

What is one of the main pressures leading organizations to improve their asset management practices?

Growing financial and environmental risks Signup and view all the answers

What aspect of asset management does EN 17485 focus on?

Improving the life cycle value of assets Signup and view all the answers

What does a user represent in the context of a product's life cycle?

Any person or organization that uses at least one function of the product. Signup and view all the answers

What types of performance are buildings usually classified into?

Environmental and technological performance. Signup and view all the answers

Which of the following is a requirement of the Construction Products Regulation (CPR)?

It provides a common technical language to assess the performance of construction products. Signup and view all the answers

In the context of products, what does 'need' refer to?

What is required for a user activity or technological function. Signup and view all the answers

What is an unintended product example?

Pollutants that occur as byproducts of processes. Signup and view all the answers

What does the term 'product' encompass according to the provided content?

A combination of services, hardware, and software. Signup and view all the answers

Which statement accurately describes the Building performance?

It involves the actual behavior of building systems under real conditions. Signup and view all the answers

What is one of the purposes of the Construction Products Regulation (CPR)?

To ensure reliable information for comparing product performances. Signup and view all the answers

What is one key aspect the construction works should not threaten throughout their life cycle?

The hygiene or health and safety of individuals Signup and view all the answers

Which of the following emissions are related to health and environmental concerns in construction?

Greenhouse gases Signup and view all the answers

What type of noise levels should construction works aim to prevent?

A level that threatens health and sleep Signup and view all the answers

What type of construction risks must be mitigated for safe use?

Unacceptable risks of accidents such as slipping and falling Signup and view all the answers

Which of the following is NOT a concern for the water quality impacted by construction works?

Leakage of harmless minerals Signup and view all the answers

In designing construction works, which group should accessibility considerations especially include?

Disabled persons Signup and view all the answers

What types of emissions should construction activities be designed to minimize into the air?

Volatile organic compounds and dangerous particles Signup and view all the answers

Which of the following is a requirement for the safety of construction works?

Should not present risks of collisions or injury Signup and view all the answers

What is defined as a physical setting used to serve a specific purpose?

Facility Signup and view all the answers

Which term describes the performance of a facility to support required functions under specified use conditions?

Functional performance Signup and view all the answers

What does the term 'serviceability' indicate?

The relative performance capability for a user group Signup and view all the answers

What is a requirement that indicates the type and level of functionality needed by stakeholders for a facility?

Functional performance requirement Signup and view all the answers

Which statement best describes an asset in the context of construction?

An entire building or a component of it Signup and view all the answers

What encapsulates both the physical objects and their uses within a facility?

Facility definition Signup and view all the answers

What is the main purpose of assessing building performance?

To measure functional effectiveness throughout its life cycle Signup and view all the answers

What does the term 'demand' refer to in the context of a facility?

The requirement for functional performance Signup and view all the answers

Which of the following is NOT considered a type of asset for asset management purposes?

Human resources Signup and view all the answers

What does 'asset management decisions' primarily enable within an organization?

Achievement of organizational objectives Signup and view all the answers

Which factor is NOT listed as influencing the type of assets an organization requires?

Technological advancements Signup and view all the answers

What is an example of a critical asset?

Manufacturing equipment Signup and view all the answers

What is meant by 'need' in the context of asset management?

A desired or necessary item for users Signup and view all the answers

Which process is essential for transforming organizational objectives into asset management plans?

Risk-based, information-driven planning Signup and view all the answers

Which of the following types of assets directly relates to technology management?

Information technology (I.T.) assets Signup and view all the answers

Which statement best describes the operating context of an organization as an influencing factor for asset types?

It shapes organizational priorities and risks. Signup and view all the answers

What should a good Output Specification reflect?

The actual requirements of school users Signup and view all the answers

What is a key characteristic of an effective Output Specification?

It should be clear, concise, and unambiguous Signup and view all the answers

How does an Output Specification assist bidders?

By giving bidders sufficient information to decide and cost the services Signup and view all the answers

Which of the following statements qualifies as an output in the context of Output Specifications?

Classrooms must have an adequate power supply to meet operational requirements Signup and view all the answers

What is NOT considered an output based on the examples provided?

Ensure that classrooms have at least two pairs of 240V power supply socket outlets Signup and view all the answers

What is the primary purpose of an Output Specification in a public-private partnership?

To frame the bidders' response to the Invitation to Negotiate Signup and view all the answers

Why is the statement 'The school should have a 24-hour security patrol' not an output?

It suggests a specific implementation rather than a required outcome Signup and view all the answers

Which factor should be avoided in the creation of Output Specifications?

Including unnecessary details about implementation Signup and view all the answers

Study Notes

Course Information

Course: MSc "Management of Built Environment"
Topic: Technical Assessment of Built Environment
Professor: Giancarlo Paganini

Asset Management

Asset management is crucial for organizational success.
International standards exist for asset management (EN 16646:2014, EN 17485, PDSO/TS 35010:2019, ISO 35002:2018, ISO 5001, PDEC/TS 62775:2016, ISO 35001:2014, ISO 35000:2014).

Reasons for Interest in Physical Asset Management

Growing financial, safety and environmental risks.
Increased capital intensity in various industries.
Pressure for higher profitability and returns on assets.
Aging asset systems.
Heightened safety and environmental considerations.

Terminology (ISO 55000)

"Asset" is something with potential or actual value to an organization.
Value can be tangible or intangible, financial or non-financial.
Asset types are grouped by common characteristics.
Examples of asset types include physical, information, financial, intangible, critical, information technology, infrastructure, movable and human assets.

Built/Constructed Assets

Factors influencing asset type and management: organizational nature/purpose, operating context, financial/regulatory constraints, stakeholder needs/expectations.
Asset management decisions (technical, financial, operational) are crucial for achieving organizational objectives.
This involves implementing risk-based, information-driven planning and decision-making.
It involves integrating asset management processes with functional management processes (finance, HR, IT, logistics, operations).

Terminology (Need, User, Product)

Need: What is necessary or desired by the user. Existing or potential.
User: Any person or organization exploiting a product's function during its lifecycle. External or internal.
Product: Outcome of activities, processes, or combination of service, hardware, materials, software. Tangible or intangible.

Terminology (Building Performance)

Need: What is required for the proper conduct of a user activity.
Building performance is the real behavior of a building system.
Building performance is classified into environmental and technological performance.

CPR EU 305/2011

The CPR lays down harmonized rules for the marketing of construction products in the European Union.
It introduces a common technical language to assess the performance of construction products.
It ensures professionals, public authorities, and consumers can compare products from various manufacturers.

CPR Essential Requirements

1. Mechanical Resistance and Stability: The construction must not collapse, deform excessively, or damage other parts from loadings during construction or use.
2. Safety in Case of Fire: The construction should sustain load-bearing capacity for a set time, limit fire/smoke spread, limit spread to neighbouring structures, enable occupant evacuation, ensure rescue team safety.
3. Hygiene, Health and the Environment: The design and construction must not threaten hygiene/health of workers/occupants/neighbours and must not have a disproportionate impact on the environment or climate.
4. Safety and Accessibility in Use: The construction should not present unacceptable risks of accidents/damage during service or operation (slipping, falling, collisions). Accessibility should be considered for disabled persons.
5. Protection Against Noise: Noise levels must not negatively impact occupant health and well-being.
6. Energy Economy and Heat Retention: The construction should be energy efficient during operation, construction and dismantling.
7. Sustainable Use of Natural Resources: The construction should use natural resources sustainably, prioritize reuse/recyclability of materials after demolition and use environmentally compatible materials.

User's Needs

Serviceability: The capability of a building, component, or assembly to perform its intended function.
Evaluation: Part of a performance statement, defining methods for assessing conformance to established criteria.
User needs should be expressed as technical and performance specifications.
Output Specifications are the basis for local authorities/stakeholders to define outputs/results in terms of needs, rather than methods.
A good Output Specification should reflect actual needs, be clear, concise, and unambiguous, and provide potential bidders sufficient information for decision-making.

Term Definitions (ISO 15686-10)

Asset: Whole building, structure, unit of construction works, or part thereof.
Demand: Requirement for functional performance of a facility.
Facility : Physical setting for a specific purpose (part of a building, a whole building).
Functional Performance: A facility's ability to support its intended function(s) during use.
Functional Performance Requirement: Detailed requirements for the level of functionality.
Level of Serviceability: Numerical rating of a facility's capability for a user group.

Performance Assessment and Building Life Cycle

A cyclical process with interconnected elements (business objectives, asset/facility management objectives, asset/facility management practices, building performance, building assets).
Performance facets include economic metrics, functional metrics, physical metrics, service metrics, and environmental metrics.

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Description

Test your knowledge on the principles of asset management within the built environment. This quiz explores international standards, reasons for asset management interest, and terminology as defined by ISO 55000. Understand the significant aspects of managing physical assets for organizational success.