FOREWARD

The Victorian Government is committed to providing quality services to the community. An adequate portfolio of assets is fundamental to the provision of these services, and to our present and future social and economic well-being.

Victoria's assets are an investment in Victoria's future, and, if not properly managed, a potential source of onerous financial obligations.

It is important to continuously appraise our approach to the provision and utilisation of infrastructure for delivering services to the community. To meet service commitments, we must provide essential social and economic infrastructure in the most efficient manner possible.

The approach to asset management (set out in this document) is part of the policy of continuous improvement of overall public sector performance. To this end the performance of departments, senior management and staff should include assessments of asset management activities.

The principles guiding this improvement are:

• a clear focus on responsibility and accountability for results;

• the empowerment of consumers of public services;

• a focus on core business with minimal bureaucracy;

• the use of market mechanisms and disciplines; and

• professionalism in the management of public agencies.

For asset management, this means a focus on service delivery outputs and outcomes, as well as on the assets themselves. A comprehensive and integrated approach to infrastructure and asset management will provide both quality services and a sound future for this State. This Asset Management Series provides a foundation for this approach.

Elizabeth Proust Secretary Department of Premier and Cabinet	Barry Nicholls Secretary Department of Planning and Development
Michael Vertigan Secretary Department of Treasury and Finance

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