Is your agency applying the asset management principles?
Service focus
Are assets managed within a strategic framework
driven by program and service delivery needs and strategies?
Do all asset creation, refurbishment and disposal
proposals:
identify the service capacity needs?
assess other options and compare predicted
service delivery outcomes with identified service needs?
Are performance management of assets and reporting on assets
carried out in terms of service delivery potential, service delivery
outcomes, continuing service delivery needs and economic viability?
Have asset service delivery objectives, outputs and outcomes
been explicitly identified? Is the asset strategy based on the
needs analysis?
An integrated approach
Have non-asset alternatives to asset-based service
provision been considered?
Have asset strategies been integrated with corporate
and business plans? Will they achieve the objectives of these
plans?
Are asset strategies linked to a budgetary process
that integrates capital and recurrent resource allocation?
Are all costs, liabilities and risks incorporated
in forward asset planning
and budget estimates?
Are full costs as well as service delivery outcomes
monitored and reported
on as part of the regular reporting cycle?
Informed decision-making
Are capital expenditure decisions based
on rigorous and fully documented economic appraisals that take
into account the full life cycle costs, benefits and
risks of the asset, and financial as well as non-financial parameters?
Are proposals reviewed by a party other than the originator of
the proposal?
Does the agency maintain an effective asset register
that provides an accurate record and valuation of assets?
Is the performance of assets regularly reviewed?
Clear accountability and responsibility
Have responsibility and accountability
for both ownership and control of assets been determined and communicated?
Are asset management responsibilities reflected
in the performance agreements of the Chief Executive Officer,
and in service agreements established between the Chief Executive
Officer and service agencies in the portfolio?
Have staff been informed about their responsibilities
for asset planning,
pricing, recording, valuation and
reporting, acquisition, management
in use and disposal?
Victorian Government policies
Are the agencyís asset management policies
and practices in keeping with the Asset Management Series and
with best practice in government and industry?
