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The purpose of any infrastructure is to provide a service. The challenge to asset managers is to define and deliver a particular level of service that balances the needs of the customers with the assets long-term ability to deliver. |
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This element assesses the organisation's processes and practices or policies relating to the methods used to acquire and maintain knowledge of their assets. It relates to their data standards and especially to their minium data standards. |
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Asset Strategic Plans will become the vital input into the organization's business plan. They provide the link between the mission and objectives of the organization, and the actual activities and work that is required to meet these objectives. |
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A capital expenditure program review is basically a review of the total asset management plan for the organization and more directly the capital works program that is generated from this total asset management plan. |
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The various activities that make up the full life cycle for assets ranges from the identification of a need for a service, through the planning stages to actual delivery of service. |
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This element assesses the quality of the processes used to determine the true cost of service. The ability to value assets at all levels of the hierarchical data/system structure. |
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This is an essential part of the asset's strategic planning process which sets out the operational goals and objectives, identifying the projected operations expenditure for the nominated term, broken up by principal sub-assets, operational services and asset categories. |
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This process looks at the practices used to maintain the individual assets in line with the business objectives to support service delivery requirements and capital investment to ensure maintenance planning is carried out effectively and efficiently. |
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Risk assessment and management should be an integral part of an organisation's life cycle asset management. It is a vital part of any business plan for all infrastructure owners and managers. |
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This describes the process of optimized decision making (ORDM) to determine the best value for money decisions. |
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This describes the optimizing of the replacements to suit the life extension of the various components that make up the asset or facility. |
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The asset disposal strategy should be integrated in the program planning and delivery cycle. Ideally disposal should coincide with the end of an asset's economic life and should be planned for from the moment the asset is procured. |
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This element looks at the way in which the organisation has set up its quality systems and processes and the way in which it regularly reviews itself and derives specific improvement targets for coming years. |
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By knowing the optimal renewal treatment and the timing of that work we can plot the optimized future cash flow for the life extension of the asset or facility as a whole. If rehabilitation is not cost effective, the asset may need to be replaced. |
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This will be the subject of the next version of tools and guidelines 2006, 2007. |
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The purpose of any infrastructure is to provide a service. The challenge to asset managers is to define and deliver a particular level of service that balances the needs of the customers with the assets long-term ability to deliver. |
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Generally organizations budget between fiscal years so we need to be able to predict when capacity and demand failures are likely to impact on the ever declining resources available to us. The challenge is to forecast long term financial trends and make provision for this in future budgets. |
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For future demands and future cost of providing services it is necessary to determine the impact of these on the ability to provide an affordable level of service to match these demands. |
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Under this element we assess the quality of the processes and practices used to manage the work arising out of operational and maintenance activities. In some cases this element may involve contracted service e.g. maintenance and operations maybe contracted out. |
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