The Queensland Government’s assets help with the cost-effective delivery of community services. In our State Infrastructure Plan, we identified a need to make better use of these assets. We’re doing this by providing a framework and guidance materials to assist government departments and statutory authorities prepare strategic asset management plans.
- structure and process. This will be used to deliver and manage non-current assets (long-term investments for which the full value will not be realised within the accounting year) to sustain economic development and service delivery. This includes further development of asset management expertise and systems.
- a framework for developing strategies. These define service needs, seeking to match the quality, quantity and type of assets with each need. In some circumstances, a non-asset solution might meet the service need.
- methodologies and tools. These support decisions made about each asset or group of assets.
- a rationale for investment decisions that is more clearly linked to service requirements. This leads to more streamlined government approvals for agency capital investment proposals. Long-term financial planning should be used to ensure service delivery sustainability.
- minimising costs over the life of the asset for providing, maintaining and operating assets to support service and program delivery at specified standards.
- ensuring investment is at an appropriate level commensurate with service delivery requirements and encourages the consideration and adoption of non-asset-based options in some circumstances.
- ensuring that capital works programs, priorities and asset risk management practices are consistent with government policies.
- a framework to assist the public sector. This will be used to apply consistent business principles and decision-making to asset management practices. This drives commitment from senior management to good asset management practice and continuous improvement.