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Asset Management
Principles
- Service delivery needs are to guide
asset practices and decisions.
Organisations are to
undertake asset management activities within a strategic
framework that is driven by program
and service delivery needs.
- Asset planning and management are
to be integrated with corporate and business plans,
budgetary and reporting
processes.
Planning, budgeting for,
and reporting on assets
are to be integrated with
broader planning 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.
Capital expenditure
decisions are to be based on rigorous and documented
economic appraisals of options that
include financial as well as non-financial parameters.
- Ownership, control, accountability
and reporting requirements for assets are to be established,
clearly
communicated and implemented.
Ownership and control
of all assets are to be fully defined. Accountability
and reporting requirements
for both ownership and control are to be determined
and clearly communicated.
- Asset management activities
are to be undertaken within an integrated Government
asset management policy
framework.
Asset management is to be based on best practice
principles and standards.

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