2021-01-18 GC - Item 7 - Attachment 1 - Pathways and Boardwalks 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. Pathways
and boardwalks are a critical asset class to the Noosa Community and has significant asset value
on Council’s asset register. The management of Council’s pathways and boardwalks 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
pathways and boardwalks assets. Council continues to develop its pathways and boardwalks
management activities to ensure that the pathways and boardwalks 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 pathways and boardwalks
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 pathways and boardwalks 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 boardwalks, pathways, 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 pathways and boardwalks 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
pathways and boardwalks 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 pathways and boardwalks assets.




Asset Management Plan: Pathways and Boardwalks                                                Page 21