CIPS Exam L4M8 Topic 6 Question 38 Discussion

Actual exam question for CIPS's L4M8 exam

Question #: 38
Topic #: 6

[All L4M8 Questions]

Justify which of the five approaches to condition performance monitoring you think is the most cost effective within whole life asset management.

AExplanation:
Condition performance monitoring is a surveillance system that is designed to get the maximum production uptime and availability out of an asset. And this can be achieved by timely monitoring and measuring of temperature, vibration, output, speed, noise, emissions and quality. With this, decision has to be made as to what, if any, action needs to be taken. The five approaches to condition performance monitoring are as follows:
1. Do nothing: Use like a commodity. This will bring worries later.
2. Reactive: Fix it when it breaks. This will run to failure.
3. Preventive: Scheduled maintenance.
4. Predictive: Fix it before it breaks. Predict faults.
5. Proactive: Continuous improvement defect elimination.
The most cost-effective approach is 'Proactive', because is the only approach that has continuous improvement in the process, people and policies to minimize downtime. Being proactive takes defect out f the system and continuously harness opportunity that will optimize the system
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by Ryan at Jul 04, 2024, 12:01 PM

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Pete

1 months ago

I'm all about that 'Proactive' life. Continuous improvement? Yes, please! That's the kind of approach that'll keep my assets running like a well-oiled machine.

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Belen

5 days ago

User 3: I think I'll start implementing a proactive approach in my asset management strategy.

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Ashley

6 days ago

User 2: Definitely, proactive monitoring can really optimize the system and minimize downtime.

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Paola

9 days ago

User 1: I agree, being proactive is the way to go. It's all about continuous improvement.

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Tarra

1 months ago

Hold on, 'use it like a commodity'? What is this, the stone age? I think I'll pass on that one and go with the 'Proactive' approach. It's the way of the future!

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Stefany

1 months ago

The 'Predictive' approach sounds promising, but I wonder if it's really as cost-effective as the 'Proactive' one. Predicting faults is great, but eliminating them altogether seems even better.

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Lisbeth

2 days ago

Predictive approach may help in identifying potential faults, but proactive approach focuses on eliminating defects altogether which is more beneficial.

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Han

5 days ago

I agree, being proactive and continuously improving the system can help minimize downtime and optimize performance.

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Norah

8 days ago

Predictive approach is good for predicting faults, but proactive approach is more cost-effective in the long run.

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Emilio

2 months ago

I'm not sure about this 'do nothing' approach. Waiting for things to break down sounds like a disaster waiting to happen. I'll steer clear of that one!

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Celia

14 days ago

User 3: Preventive maintenance seems like a good balance between cost and effectiveness.

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Harley

15 days ago

User 2: I think being proactive is the way to go, continuous improvement is key.

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Kenny

24 days ago

User 1: I agree, waiting for things to break down doesn't sound like a good idea.

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Shannon

2 months ago

I agree, the 'Proactive' approach seems to be the most cost-effective in the long run. Anything that can help 'harness opportunity' is worth considering.

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