Our asset management strategy sets the framework for managing our property portfolio effectively. It will guide our future strategic property decisions to ensure we manage our property portfolio sustainably and efficiently so. Woollahra municipal council asset management strategy 2011. Asset management strategy 202017 doing things differently kccs asset management strategy sets the highlevel strategic framework for managing our property portfolio effectively over the next 3 to 5 years. If you are encountering asset management for the first time, this book should be a helpful introduction to the key topics. Cdotdtdr2001 prepared by cambridge systematics brw 150 cambridgepark drive, suite 4000 1225 17th street, suite 200 cambridge, ma 02140 denver, co 80202 sponsored by the colorado department of transportation. The purpose of this asset management strategy is to describe how thh will ensure that assets are effectively managed and the income they generate is optimised so that we build and maintain desirable, sustainable homes for current and future generations. Asset management is a widely accepted term to describe this responsibility of council. Asset management implementation plan and tiered system process by michael j.
Organisational requirements to support the asset management process. Asset management strategy randwick city council nsw. The recently released iso 55000 series of standards for asset management clearly defines the importance of asset management plans. Asset management strategy investment and viability strategy affordable warmth strategy. A robust asset management strategy will ensure that councils assets are capable of providing services of an agreed quality, in a sustainable manner, for present and future communities. The modelling undertaken is based on this information which is a best estimate, with the actual life dependant. Asset management strategy bogan shire council jayantha ediriweera water and asset manager page 5 asset and water manager the useful life of an asset is the period from when it is constructed until it reaches its defined intervention level. In powerlink, asset management philosophies are applied at every stage of an assets life. This paper reflects a successful way of working and is meant to inspire key players in their asset management strategies and implementation. You will also learn how to create an asset management plan designed to meet longterm financial goals, create forecasts, and build models that analyze sell versus hold alternatives and make optimal recommendations consistent with the asset management strategy and plan. Download our free samp template one of the most common questions we hear in relation to asset management is some variation of what should my strategic asset management plan look like. The current position with respect to asset management practice. Pdf this paper presents the results of a study of the benefit of implementing strategic asset management sam in line with principles recommended by. Management levels different levels of management responsibility and activities.
Developing an asset management strategy, policy and plans. Lifecycle functions different tasks to be performed at different stages of the assets life. The objective of the council asset management practices improvement strategy is to ensure that council meets the required level of service, both now and for the future, in the most costeffective way through the creation, acquisition, maintenance, operation, rehabilitation and disposal of community assets. The same outcome could be achieved by referencing separate project schedules or asset management plans. Affordable warmth strategy in place, improving energy efficiency of our homes and. The goal of this approach is to extend the useful life of an asset and prevent breakdowns from occurring. Asset management strategy 2018 2023 asset management strategy 1 version 4. Mark cheverton kcc strategic and corporate services approved by. The figure below illustrates the typical life cycle of an asset and associated asset management. The estates investment portfolio has increased in size since the last asset management strategy was written 5 years ago and now contributes in the. Repossession nassau asset management specializes in many aspects of repossession, orderly liquidations, auctions, and asset management.
The strategic asset management framework applies to all physical assets or groups of assets controlled by the public sector. This is the bit where work is actually done on the. Fundamentals of asset management 3 drawing from the am knowledge base this workshop is produced by ghd inc. Developing and implementing a strategic asset management plan will allow for a detailed understanding of what physical assets are currently held, their value, future value, and costs associated with maintaining them or disposing of them. Leading on strategic asset management and investment in our property assets. Asset management strategy shetland islands council. Which assets are critical to sustained performance. The uk investment management industry serves millions of customers all around.
This asset management strategy outlines the asset management practices which hmrc has in place, and also includes those of its executive agency, the valuation office agency voa. Asset management strategy the asset management process is one of continuous improvement, focused on four primary elements of the asset management cycle. Highway asset management communication strategy pdf, 353. You may find that your iso 55001 auditor insists that it is called a strategic asset management plan. Executive summary coastline housing limiteds asset management strategy 20152020 is a critical business tool for us to align our property assets with business need. Strategic asset management plan 5 draft glossary of terms acb assets and capital board almo arms length management organisation alp assets, land and property rules arg assets, regeneration and growth committee atrium database software aws agile working strategy cas community asset strategy ccg clinical commissioning group clp corporate landlord. Mar 29, 2019 how to develop a strategic asset management plan.
Highway asset management warwickshire county council. Setting the framework for managing our property portfolio effectively over the next 3 to 5 years. This document replaces the estates management strategy 20112015 and should be read in conjunction with the councils land and property rules. Asset management strategy june 20 page 6 of 10 section 2.
Camden council asset management strategy page 5 of 47 the current level of asset management awareness within council has significantly improved from 2009, with a dedicated asset management team being established over the last 3 years, completion of a comprehensive inventory of all assets, and supported by condition assessments of all assets. Lachlan shire council asset asset management strategy page 1 summary this asset management strategy is prepared to assist council in improving the way it delivers services from infrastructure including roads, bridges, footpaths, stormwater drainage, parks and recreation, buildings, water supply and sewerage. Appendix d of this strategy shows maturity assessment report from september 2011 and the current status of asset organisational management maturity is shown in table 10. We are delighted to welcome the governments new, ambitious investment management strategy. A high performing, diverse workforce that has the capability to deliver asset solutions effectively.
It is a high level but very important document that guides the overall asset management activities within an organisation. The strategy for the future of the uks asset management. The asset management strategy for acha has been developed to provide the detail necessary to provide a clear direction for the management of the assets that the association owns and manages. The development of this asset management strategy am strategy has been guided by the institute of public works engineering australasia ipwea national asset management strategy nams template. Asset management strategy 201525 city of melbourne. Such activities can be recorded as strategic asset management initiatives.
This asset management strategy ams, councils asset management policy and each infrastructure asset management plan amp will provide the framework within councils. The asset management strategy covers all of the housing and other property owned and managed by acha and includes all the related assets, such as play areas, garages and unadopted assets. The objective of this asset management strategy ams is to develop a structured set of strategic actions aimed at enabling council to improve its asset management practices to support councils asset management policy and service delivery needs. Developing and implementing a strategic asset management plan will allow for a detailed understanding of what. We used to hear this in regards to asset management strategies under pas 55, but the greater visibility and lower levels of prescription in iso 55000 have clearly created uncertainty regarding the. Everyone in the plant believes with good reason that production is the reason we are all here. Asset management strategy 2015 2020 was revised early to align with the new corporate plan but in this short time we achieved a number of great successes. The broad scope of the councils roads asset management function is shown at figure 1 and is summarised as. Our asset management strategy sets the framework for managing our property portfolio effectively over the next 3 to 5 years. Strategic asset management can be considered in three dimensions. Woollahra municipal council asset management strategy. Housing asset management strategy 202043 1 introduction 1. This chapter describes the current and future strategies used to manage the asset base.
To develop a set of actions aimed at improving and sustaining asset management practices across the organization. From an iso 55001 compliance point of view in order to comply with the requirement for a strategic asset management plan as defined in iso 55000 this document is mandatory. Developing an asset management strategy reliabilityweb. It will guide our future strategic property decisions to make sure we manage our property portfolio sustainably and efficiently so that it can adapt to remain fit for the future and support frontline delivery. This strategy has been developed as part of a longterm plan to assess, monitor and plan for the assets that will be needed by the city of melbourne in the coming decade. The awwa asset management committee has produced three reports examining the state of asset management and leading business practices in asset management. The city of calgary has risen to the challenge by develop a proactive strategy to effectively manage its asset inventory. The asset manager ensures that the plan delivers what is required of it by the strategy. This is a topdown function of setting a performance specification for each major operating unit, identifying the critical components of performance, and systematically improving the key. Asset management is the generic process that seeks to ensure that land and buildings, as the asset base of an organisation. This asset management strategy outlines the asset management practices. Asset management is a process to manage demand and guide acquisition, use and disposal of assets to make the most of their service delivery potential, and manage risks and costs over their entire life. It is a constantly evolving set of procedures and actions intended to obtain best value from the itys assets.
What does a good strategic asset management plan look like. The booklet is part of the canadian network of asset managers cnam asset. Asset management strategy asset management manual world. Asset management strategy vs strategic asset management. The asset management strategy is a dynamic document outlining a clear course of action in applying and supporting the shires asset management policy and outlines the following. Asset management plan guidance and template version 1.
Asset management is increasingly well understood by the business community as a strategic and business led discipline, where the value of assets is their contribution to achieving explicit business objectives. This function can make or break the production and asset healthcare management. Holding assets is a part of any enterprise in the public or private sector. This was highlighted in a recent survey of over 500 asset management professionals across a range of industries who identified building a coordinated asset management strategy at corporate level as one of the top three asset. Their aim is to provide the strategic lead for the successful adoption and implementation of this strategy, and to raise the level of awareness, effectiveness and implementation of asset management principles across the service. Strategic asset management involves managing the capital investment towards a longterm program of increasing the roa.
Include risk management planning in each asset management plan for all major infrastructure classes. Management team, part of the councils highways, parking and marine service. Asset management strategy a fiveyear plan 2018 2023. This asset management strategy is the foundation for infrastructure best practices that will allow us to provide effective municipal service while balancing smart growth with a sustainable quality of life. Comprehensive asset management strategy city of ottawa. Developing an asset management strategy strategic asset management involves managing the capital investment towards a longterm program of increasing the roa. If he does, just refer him to note 2 under point 2.
Preventive maintenance scheduled also known as proactive maintenance, this method involves periodically taking assets offline and inspecting or repairing them at predetermined intervals usually time or eventbased triggers. Logistics include materials management, purchasing and movements of people and materials. The asset management strategy is a key informing document to this process. We provide services for collections management as well as liquidate equipment such as tool trucks, cranes, and much more.
The role of operations and maintenance in asset management. Asset management plans form the cornerstone of an effective asset management system. Asset management is the range of activities undertaken to ensure the housing stock meets the needs and standards now and for the future. The asset management strategy recognises the need to manage assets effectively as part of the towns service delivery, where service areas delivering the service should be responsible for managing assets that are associated with that service area. This asset management strategy includes specific actions required to improve cou ncils asset management capability and projected resource requirements and timeframes.
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