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The Strategic Asset Management Plan underpins a business process vital to the achievement of the strategic objectives, much in the same way as a financial strategy.

Strategic Asset Management Plan

The purpose of this Strategic Asset Management Plan is to:

  • Apply the Asset Management Policy (AM Policy) as determined and approved by Council.
  • Link Council objectives as defined in the Council Plan to achievable strategic asset management objectives.
  • Detail the role of the assets, assets management and the Asset Management System (AMS) in supporting the achievement of the Council objectives.
  • Provide clarity and direction for everyone within Council from Councilors and Executive, Senior Council Officers, and delivery teams.
  • Guide the approach for developing Asset Management Plans (AMP’s) and how all components of the AMS interact.
  • Present a consolidated plan at the asset portfolio level for achieving the strategic asset management objectives and linking these to Council’s long term financial plan.
  • Build strong stakeholder engagement and leadership for informed and robust asset management decision making processes that support the functionality and the sustainability of the AMS.
  • Present the plan for creating or improving the asset management system to ensure the required capabilities and resources are available to achieve the asset management objectives.

The Strategic Asset Management Plan underpins a business process vital to the achievement of the strategic objectives, much in the same way as a financial strategy. Section 92 of the Local Government Act 2020 highlights the requirement for good asset management practices across the local government sector in Victoria. Under the Act, councils must adopt an Asset Plan by 31 October following each election.

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