Asset Management Strategy and Policy
A strategy for asset management covering development and implementatin of plans and programs for asset creation, operation, maintenance, rehabilitation / replacement, disposal and performance monitoring to ensure desired level of service and other operational objectives are achieved at optimum cost. The Asset Management Strategy typically has a 10 - 25 year horizon and aligns asset managment with the Community Strategic Plan.
Asset Management Plans (AMP)
A plan developed for the management of one or more infrastructure assets that combines multi disciplinary management technicques (including technical and financial) over the lifecycle of the assets in the most cost effective manner to provide a specified level of service. A significant component of the plan is long-term cash flow projection for the activities.
Asset Management Information Systems
An Asset Management Information System is the foundation of all asset management practises. It is a combination of processes, data and software applied to provide the essential outputs for effective asset management such as reduced risk and optimum infrastructure investment. The asset management information system links to other information systems within Council such as the Property System, Geographic Information System, Finance System and Document Management System integrating asset management with the rest of Council's operations.
Infrastructure assets are typically large, interconnected networks or portfolios of composite assets, comprising components and sub-components that are usually renewed or replaced individually to continue to provide the required level of service from the network. Some examples are roads, footpaths, bridges and buildings.
Level of Service
Defining and meeting community expectations in relation to the quality and quantity of assets and services delivered by Council. In the context of asset management, the applies to all assets.