Asset Performance
Protecting service
delivery potential and addressing health and safety
concerns are priorities
when making decisions about asset use and maintenance.
It is very important, therefore, that
asset performance be appropriately reviewed and evaluated
to verify that
required outcomes are being achieved.
The results of any performance
assessment need to be reported to:
- Identify any actions to be taken
- Comply with ongoing reporting
requirements, as well as with those
forming part of the corporate, business and asset
planning processes
Asset Maintenance
Organisations should develop five-year
asset management strategies for the assets under
their control.
The
strategies should cover maintenance, refurbishment
and energy management and include all operating costs.
They should also detail the systems and processes to
be established to monitor asset performance.
The usefulness
of an asset depends on how effectively it meets its
purpose. For many types of asset, this may depend on
the regularity and appropriateness of its maintenance.
Regular maintenance may also help to preserve an asset’s
value.
Planning for asset maintenance enables targeted action
to be taken in a timely and cost-effective manner.
This, in turn, helps to ensure
that an organisations asset portfolio can remain appropriate
and productive for the lowest possible long-term cost.
As a first step, an organisation must determine which
of its assets need to be maintained (ie it must assess
the materiality of its assets).
Some assets may, for example, have low or little value
and have a relatively short expected life; others may
be of a type that normally requires little or no regular
maintenance effort (eg furniture).
Entities controlling
such assets may elect to exclude these from the formal
maintenance planning process, and rely on regular
condition assessments or inspections (eg in conjunction
with
stocktakes).
For each of those assets or groups of assets that
are to be regularly maintained, an organisation should
develop a maintenance strategy.
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