Asset Management Planning

     What is an Asset Management Plan?

 

An Asset Management Plan is a tactical plan for managing an organisation's infrastructure and other assets to deliver an agreed standard of service.  In some states local government authorities are required to have asset management plans in place for infrastructure such as sporting facilities, parks, trails, playgrounds, aquatic facilities and other recreation assets.

 

The asset management plan can focus on areas such as:

  • Asset status, condition, performance and lifecycle
  • Functionality of the asset
  • Asset’s compliance with legislative requirements
  • Need and demand for future assets, disposal of assets or adaptation of assets
  • Capital, replacement, maintenance and lifecycle costs

Benefits of an Asset Management Plan

 

An asset management plan provides a strategic approach to the long term management of an organisation’s asset portfolio, it identifies:

  • Community need and demand for assets
  • Benefits of the asset (financial, social and environmental)
  • Coordinated approach to asset renewal and replacement based on need and resource constraints.
  • Matching community needs and desires with future asset provision
  • Funding strategies and potential funding and management partners

Outcomes

  • Higher standard asset provision
  • Functional facilities and infrastructure that meets community needs and demands
  • Clear picture of likely resource requirements to replace, enhance or develop assets
  • Identifies opportunities for efficient use of existing assets
  • Strategic priorities for capital and maintenance works

 
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