2016-09-06 S&O Committee - Attachment 1 to Item 2 - Asset Management Roadmap

Council Lead(s)
Governance Advisor, Asset Planning Co-ordinator, Asset Management Steering Team
Interfaces with existing Council Initiatives:
            Council’s existing Risk Management Approach
            Council’s existing Internal Audit Approach
Dependencies with other Road-Map Initiatives:
            N/A
ISO 55001 References:
            6.1     Actions to Address Risks and Opportunities for the Asset Management System: The
                    organisation shall determine the risks and opportunities that need to be addressed
                    to: give assurance that the asset management system can achieve its intended
                    outcome(s); prevent, or reduce undesired effects; and achieve continual
                    improvement.
            6.2.2   Planning to Achieve Asset Management Objectives: When planning how to achieve
                    its asset management objectives, the organisation shall determine and document…
                    …actions to address risks and opportunities associated with managing the assets.
            5.1     Leadership and Commitment: Top Management shall… …ensure that the approach
                    used for managing risk in asset management is aligned with the organisation’s
                    approach to managing risk.
Potential Benefits:
Completion of this initiative will ensure that risks and opportunities at all levels of the Asset
Management System are identified and assessed on the same basis as other Council risks. This
consistency of assessment will ensure that Council takes a balanced view of all opportunities and
risks and that its response to these risks is scoped and prioritised appropriately.
Scope of Work:
     Task    Task Description                      Resources     Approx.       Delivery    Deliverable /
     No.                                                         Duration      Timeframe   Outcome
     1       Determine Asset Management System       Council      2 months     Short       AMS Risk
             risk / opportunity assessment                                                 Assessment needs
             requirements.                                                                 identified.
     2       Modify Council’s Corporate Risk         Council      18 Months    Short to    Revised corporate
             Assessment Approach, as necessary.                                Medium      risk management
                                                                                           approach.



Develop Asset Investment Planning Framework
Description of the Initiative:
The Asset Investment Planning Framework defines the generic procedures and support tools that
will be applied to enable the identification, assessment, prioritisation and approval of all asset
investments. To maximise Council visibility of asset whole-of-life costs this framework needs to have
coverage of the full spectrum of expenditures across the asset life-cycle: including initial capital
outlay, upgrade, renewal, maintenance and operational expenditure. In this context, the final
framework is likely to augment or integrate with a number of existing Council asset investment
review and approval processes.




30                                          ASSET MANAGEMENT ROAD-MAP REPORT