2019-02-12 Attachment 1 to Item 3 - Stormwater Infrastructure Asset Management Plan

5. Risk Management
Risk management is a coordinated approach to the management and control of risk by Noosa
Council having regard to the Council’s strategic and operational objectives.
       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. Stormwater
Infrastructure is identified as a critical asset to the Noosa Community and has a high asset value on
Council’s asset register. The management of Council’s Stormwater Infrastructure assets should
continue to be prioritised to ensure any significant risks are mitigated before they escalate further
and impact on the Community.
       Risk Assessment
It is important to have a good understanding of the risks associated with the operation of the
Stormwater Infrastructure Assets. Council continues to develop its Stormwater Infrastructure
management activities to ensure that the Stormwater Infrastructure is 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 Stormwater Infrastructure
management activities and associated levels of service have been identified throughout this AMP
and are outlined below:

1. Unanticipated Stormwater Infrastructure deterioration and structural failure – It’s likely that
   this risk will be accelerated by the increasing severity in weather and climate change conditions
   for certain stormwater assets. Predictions and events will need to be monitored closely to ensure
   this risk is managed appropriately.

2. Asset Performance – Asset failures that influence the determined service levels. A complete
   understanding of all Stormwater Infrastructure assets and their relevant asset condition will assist
   in mitigating potential risks.

3. Asset Knowledge - The need to understand the performance of all the Stormwater Infrastructure
   assets at component level is essential in mitigating risks to desired performance. Detailed
   inspections and asset data are essential for informed decision-making. Assets such as bio
   retention basins, end walls and structures 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 Stormwater Infrastructure will
   continue to rise and efficiencies and cost savings are reviewed regularly. Grant opportunities for
   renewals/upgrades must always be considered as well as cost benefit analysis of alternative
   designs and materials.

The above risks and all other current risks will be regularly reviewed by the stormwater infrastructure
working group and the high level risks documented in the annual Branch Plan – Civil Operations.
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 Stormwater
Infrastructure 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 Stormwater Infrastructure assets.


Asset Management Plan: Stormwater Infrastructure                                               Page 16