Principal Analyst for Asset Investment
Department of Treasury and Finance VIC
Effective asset management plans require defined goals and strategies to achieve them at each stage of the asset life cycle. With the Asset Management Accountability Framework, the Victorian Treasury established a flexible framework for appropriate asset portfolio management to guide agencies in realizing full value from their assets within their specific contexts.
Enjoy Complimentary Breakfast Tea and Coffee while you learn to:
- Account for key considerations when designing SAMPs.
- Understand how the different phases of the asset lifecycle must be considered in the SAMP.
- Rethink the different ways of getting value from your assets.
1:50 PM CASE STUDY: Understanding the Department of Treasury and Finance VIC’s Asset Management Accountability Framework for Strategic Asset Life Cycle Management
In early 2016 the Victorian State Government’s Department of Treasury and Finance issued their Asset Management Accountability Framework (AMAF) which applies to infrastructure, plants and equipment, buildings, land and ICT assets. The framework was developed to assist Victorian publicsector agencies better manage their asset portfolios and provide better services for their communities.
Overall the framework lays the foundation for a holistic approach that balances strategic, technical and budgetary considerations through collaboration across the organization’s operating framework.
- Employing a service delivery mindset to rethink investment in assets, generating the business case.
- Integrating asset management thinking into reporting lines and operating frameworks, to reduce asset management “silos”.
- Considerations and strategies for effective risk management.
4:20 PM STRATEGIC ASSET MANAGEMENT PLANS
- When formulating a SAMP, what process do you use to consider long-term, evolving service delivery requirements and market conditions? Is this process consistent?
- What processes do you use to consider current asset base condition and capacity against current and future service need?
- What time frame does your SAMP consider, and how do you balance immediate and longer-term asset investment requirements within a resource-constrained environment?
- Do you have asset maintenance standards and do they consistently fit your context? Do these standards refer to service or asset performance?