Does your Council have a Successful Asset Management Strategy?

Feb 15
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Building, maintaining and planning vital infrastructure is core to the success and sustainability of every local council within Australia. It is essential that councils develop effective service strategies that are well aligned to the expectations of their communities.

Local Council

The following 6 key elements have been identified by the Department of Local Government and Communities Western Australia

1: Asset Management Plans
These plans should be developed for all asset management major asset classes, including, but not limited to: roads, buildings, drainage, paths, parks and infrastructure.

2: Defining levels of service
Service levels usually relate to quality, quantity, reliability, responsiveness, environmental, acceptability and cost.

3: Linking to the long term financial plan
Overall strategy must link the ‘whole of life costing’ for each asset class with the Local Government’s annual budget and long term and operational financial planning.

4: Governance and management arrangements
Good governance and management arrangements ensure that asset management is adequately linked to service delivery. 

5: Data and system requirements
When data systems are used, adequate links must be made between asset management and financial systems, particularly in the recording and management of capital expenditure and allocations for depreciation, maintenance, renewal and upgrade. 

6: Improvement of skills and processes
Programs of continuous improvement that instil a ‘whole of organisation,’ best practice approach to asset management should be implemented. 

The Local Government Asset Management Conference, taking place this June, will explore strategies for improving asset strategy, planning and maintenance. Book soon to secure your place!

Asset Management

Photo by Rodrigo Soldon.

Submitted by Matthew Lathlean

Matthew Lathlean

Matt Lathlean is a Conference Producer with Criterion Conferences. He is passionate about finding solutions through sharing information in an innovative and engaging way and bringing people together who share similar goals. His interests include getting lost in foreign destinations, meeting new people and all things music related.

Fun fact about Matt – He is terrified of heights.

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