2019-07-09 S&O Agenda - Item 5 - Attachment 1 - Building and Facilities Asset Management Plan

5. Risk Management
Risk management is a coordinated approach to the management and control of risk by Noosa
Council.


5.1    Critical Assets
The identification of critical assets based on the consequence of failure multiplied by the likelihood
of failure; as adapted from the International Infrastructure Manual 2015 Section 3.2.4 has been
undertaken to enable the prioritization of asset management and financial resources. Buildings and
facilities are a critical asset class to the Noosa Community and has significant asset value on
Council’s asset register. The management of Council’s buildings and facilities assets should continue
to be prioritised to ensure any significant risks are mitigated before they escalate further and impact
on the Community.


5.2    Risk Assessment
It is important to have a good understanding of the risks associated with the operation of the buildings
and facilities assets. Council continues to develop its buildings and facilities management activities
to ensure that the buildings and facilities are meeting the intended design life, and where necessary
work on the optimised intervention for undertaking rehabilitation and renewal activities.

The key risks associated with achieving the above objectives of Council’s buildings and facilities
management activities and associated levels of service have been identified throughout this AMP
and are outlined below:

1. Unanticipated asset deterioration and structural failure possibly accelerated by the increasing
   severity in weather and climate change conditions;
2. Asset Performance – No asset failures that influence the service levels. A complete
   understanding of all buildings and facilities assets and their relevant asset condition will assist in
   mitigating potential risks.
3. Asset Knowledge - The need to understand the performance of all the band facilities assets at
   component level is essential in mitigating risks. Assets such as retaining walls, carparks, lighting
   and signage are assets that require more detailed inspections and improved maintenance
   activities to ensure assets do not become a risk to the community.
4. Funding – the ongoing operational and maintenance costs for buildings and facilities will continue
   to rise and efficiencies and cost savings are reviewed regularly. Grant opportunities for
   renewals/upgrades must always be considered.

These risks and all other current risks will be regularly reviewed and if necessary, they can be
documented in the annual Branch Plan – Buildings and Facilities. Should there be a need for them
to be further escalated they can be addressed for consideration by the Asset Management Working
Group, Executive Team, and Audit and Risk Committee.

To mitigate these risks there are resulting actions from this AMP. For Council to make informed
decisions, it is understood that focus must be placed on consistent cyclical inspections across all
buildings and facilities assets with condition data accurately recorded in T1 asset management
system. This then supports the reconciling of financial asset data, GIS data and inspection data to
have a single point of truth for all buildings and facilities assets.




Asset Management Plan: Buildings and Facilities                                                 Page 18