IAM IAM-Certificate Question Answer
What are the main cost elements of a whole-life cost approach?
Installation, failure and refurbishment costs
Asset deterioration and reliability costs
Maintenance, associated financing costs, refurbishment, and disposal costs
Installation, maintenance and operations, and disposal costs
Whole-life cost elementsinclude costs incurred from the point of asset creation to its final disposal. This covers:
Installation
Operations & Maintenance
Disposal or decommissioning
Exact Extract from IAM – Asset Management: An Anatomy (v4), Section 4.5.1:
“Key cost elements include initial acquisition, installation, maintenance, operation, and final disposal costs.”
TESTED 02 Jan 2026
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