L4M7 Exam Dumps | Why do you need a life cycle asset management plan?

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CIPS.L4M7.v2025-07-04.q121
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Question 62/121

Why do you need a life cycle asset management plan?

A. It is the basis of calculating the financial depreciation of the asset

B. It is used to calculate the manpower required to operate the asset

C. It is used to determine what the overall costs of disposing of the asset will be

D. It is a basis for planning resources and budgets to support the asset

Correct Answer: D

A life cycle asset management plan provides a comprehensive framework for planning, budgeting, and resource allocation throughout the asset's life. It considers costs from acquisition to disposal, ensuring that assets are managed efficiently and cost-effectively over their full lifecycle, which is central to whole-life asset management strategies.

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