Certified Reliability Leader (CRL) Practice Test

What characterizes effective asset condition monitoring?

1. It applies only to high-value assets

2. It must be economically viable, saving more than it costs

3. It should be implemented only once assets fail

4. It focuses on predictive maintenance only

The correct answer is: It must be economically viable, saving more than it costs

Effective asset condition monitoring is characterized by its economic viability, meaning that the cost of monitoring should be less than the savings it generates. This approach is essential for organizations to ensure they are investing their resources wisely. By comparing the cost of monitoring with the potential costs associated with unplanned downtimes or assets failing, businesses can determine if their condition monitoring program provides a positive return on investment. Monitoring should create actionable insights that lead to improvements in maintenance practices, reduce unexpected failures, and optimize the use of assets. Therefore, a successful asset condition monitoring strategy must provide value in terms of enhanced asset performance and lifecycle management, rather than merely accumulating data or focusing on high-value assets alone. This makes economic viability a key aspect of effective condition monitoring programs.