Asset Management Principles

Public Sector Asset Management in Victoria is governed
by the following principles:

Service delivery needs are to guide asset practices
and decisions.

Asset planning and management are to be integrated
with corporate and business plans, budgetary and
reporting processes.

Asset management decisions are to be based on
evaluations of alternatives that take into account full
life cycle costs, benefits and risks of assets.

Ownership, control, accountability and reporting
requirements for assets are to be established, clearly
communicated and implemented.

Asset management activities are to be undertaken
within an integrated Government asset management
policy framework.