Asset management planning
The Queensland Local Government Act requires all councils to have long-term asset management plans that directly link to a long term financial plan with a minimum timeframe of ten years.
An important part of appropriately managing assets is understanding how they support the delivery of services to users to an appropriate standard.
When new assets are proposed or aging assets become due for renewal it is appropriate to consider aspects such as;
Is there another way to provide the service. eg can a building space be leased, can users be encouraged to use alternate solutions
Should the asset be replaced to the same dimensions, materials, standard or are there new requirements or factors that may need to be considered eg Disability legislation, material whole-of-life costs, safety etc
Asset management is a journey, with the ongoing pursuit of incremental improvements fundamental to achieving more sustainable asset management. The following are a number of asset management principles that A1 believe should be considered in asset management plans,:
Identify how an asset’s purpose facilitates the achievement of an organisation’s strategies and plans and community needs including identifying existing levels of service and any potential gaps which may exist.
Identify the asset data, information, and technology required to support evidence-based decision-making
Direct how assets are designed and managed to be environmentally and financially sustainable through consideration of the whole-of-life costs of the asset and/or service
Provide information on current and future maintenance (operational and capital work requirements)
Identify funding needs in the short term and provide the basis for long-term financial planning for assets and inform funding strategies.
Ensure that appropriate governance, roles and responsibilities are clearly defined throughout the asset lifecycle
Provide an improvement plan to support ongoing work to enhance the management of services and associated assets