Meeting papers

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. parks and
playgrounds are a critical asset class to the Noosa Community and has significant asset value on
Council’s asset register. The management of Council’s parks and playgrounds 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 parks
and playgrounds assets. Council continues to develop its parks and playgrounds management
activities to ensure that the parks and playgrounds 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 parks and playgrounds
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 parks and playgrounds assets and their relevant asset condition will assist
   in mitigating potential risks.
3. Asset Knowledge - The need to understand the performance of all the assets at component level
   is essential in mitigating risks. Assets such Furniture, play equipment and structures 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 parks and playgrounds 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. 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
parks and playgrounds 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 parks and playgrounds assets.




Asset Management Plan: Parks and Playgrounds                                                  Page 17

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