1.5 Getting started

Return to Contents of Part 2

Managers who are uncertain about their asset management responsibilities should use the information in this section to consider:

• whether they utilise the services of assets, as defined above, in the course of discharging their responsibilities;

• the nature of the organisation to which they belong. If it is a Victorian Government entity as defined in this section, then this series provides the appropriate guidance; and

• which of the assets they use are under the control of the entity (as opposed to being hired from another organisation).

These considerations will enable managers to compile a list of assets for which they are accountable.

As a first step in fulfilling their responsibilities, managers must develop an appropriate asset register, if it does not already exist. Assets must be identified, classified and valued as set out in Section 7, Asset Recording, Valuation and Reporting, and entered in the register.

This will assist in meeting statutory reporting obligations. Further steps can then be taken to strengthen the management of the assets as set out in other sections of this part.