An Optimal Maintenance Policy Strikes a Balance Between the Costs

question 58

True/False

An optimal maintenance policy strikes a balance between the costs of breakdown and preventive maintenance so that the total cost of maintenance is at a minimum.

---

Definitions:

Defence

Legal arguments and evidence presented to counter a claim or accusation in a court of law.

Errors and Omissions

A type of professional liability insurance that protects companies and individuals against claims made by clients for inadequate work or negligent actions.

Strictly Liable

A legal principle where a party is held responsible for damages or loss, regardless of fault or intent.

Property Owner

An individual or entity that legally owns land, buildings, or both, holding rights to use, rent, sell, or manage the property as they see fit.