The TEAMQF Business Confidence Level

Every asset is different and every organization faces different issues, so the solution needs to be tailored to these circumstances rather than simply adopting a generic world's best practice. TEAMQF addresses this need by enabling each agency to clearly identify what is best appropriate practice for their agency and their assets at a particular point in time.

To manage assets efficiently and effectively, organizations need to:

• Apply best appropriate life cycle Processes and Practices to valuable community assets
• Acquire and maintain the necessary Data and Knowledge needed by these processes
• Store this data and knowledge in the most appropriate Asset Management Information Systems
• Establish appropriate "confidence levels" to be achieved.

This should allow the organization to:

• Clearly identify what it should do to manage the delivery of its asset services
• Understand its long term financial sustainability and the future levels of service capable of being delivered
• Develop an Asset Management Plan over a specified period to meet the required confidence level across each business unit, depending on its size and complexity.