Asset Management

Asset Management is the combination of management, financial, economic, engineering and other practices applied to physical assets with the objective of providing the required level of service in the most cost effective manner. It includes the management of the whole life cycle (design, construction, commissioning, operating, maintaining, repairing, modifying, replacing and decommissioning/disposal) of physical and infrastructure assets.

Key Elements of Asset Management

The MAV have identified the following as key elements of Asset Management

• A policy framework to support AM decisions
• Knowing what assets are controlled / owned
• An understanding asset condition & expected life
• Knowing where money is spent – maintenance, renewal & operations
• Knowing what ‘levels of service’ the community needs
• A process to establish priorities & allocate funds
• Knowing long-term funding requirements
• Having documented Service Plans & Asset Management Plans.

Related Pages

• 2012 NAMAF Questions
• A Wealth of Opportunities
• Active Asset
• Activity Types
• Advanced Asset Management
• AMMS
• Annual Depreciation Charge
• Asia Pacific Institute for Good Asset Management
• Asset
• Asset Accounting
• Asset Accounting Policy
• Asset and Component Types
• Asset Capitalisation
• Asset Capitalisation Policy
• Asset Category
• Asset Class
• Asset Classes
• Asset Classification Scheme
• Asset Component Checklist
• Asset Componentisation
• Asset Condition
• Asset Condition Assessment
• Asset Condition Assessment Guide
• Asset Condition Evaluation Guide
• Asset Condition Inspection
• Asset Condition Manual
• Asset Condition Survey
• Asset Consumption
• Asset Criticality
• Asset Data Collection
• Asset Data Entry
• Asset Data Standards
• Asset Database
• Asset Disposal
• Asset Disposal Plan
• Asset Handover
• Asset Hierarchy
• Asset Identification Label
• Asset Information System
• Asset Inventory
• Asset Lifecycle
• Asset Location Techniques
• Asset Maintenance Cost Rules of Thumb
• Asset Maintenance Management System
• Asset Maintenance Strategy
• Asset Management
• Asset Management Accountability Framework
• Asset Management Advancement Program 2009-10
• Asset Management Checklist
• Asset Management Consultants
• Asset Management Coordinator
• Asset Management Courses
• Asset Management Elements
• Asset Management Framework
• Asset Management Guide for Sport and Recreation Facilities
• Asset Management Improvement Plan
• Asset Management Maturity Model
• Asset Management Plan
• Asset Management Plan Template
• Asset Management Planning
• Asset Management Policy
• Asset Management Practices
• Asset Management Presentation
• Asset Management Principles
• Asset Management Related Tasks
• Asset Management Responsibilities
• Asset Management Skills Matrix
• Asset Management Software
• Asset Management Special Interest Group
• Asset Management Steering Committee
• Asset Management Strategy
• Asset Management System
• Asset Management System Development
• Asset Management System Functional Specification
• Asset Management System Implementation Checklist
• Asset Management Team
• Asset Management Terminology
• Asset Management Training
• Asset Management Training Manual
• Asset Management Vision
• Asset Management Working Group
• Asset Mapping
• Asset Name
• Asset Naming
• Asset Numbering System
• Asset Operating Environment
• Asset Owner
• Asset Performance
• Asset Performance Monitoring
• Asset Plan
• Asset Planning
• Asset Planning and Management Framework
• Asset Protection
• Asset Rationalisation
• Asset Recognition Threshold
• Asset Register
• Asset Register Field Checklist
• Asset Register Structure
• Asset Renewal
• Asset Renewal Program
• Asset Replacement Profile
• Asset Reporting
• Asset Retirement
• Asset Revaluation Index
• Asset Segmentation
• Asset Stewardship
• Asset Strategic Plan
• Asset Sub-Type
• Asset Sustainability Ratio
• Asset Type
• Asset Utilisation
• Asset Utilisation Measure
• Asset Valuation
• Asset Valuation Framework
• Asset Valuation Policy
• Australian Asset Management Collaborative Group
• Australian Infrastructure Financial Management Guidelines
• Breakdown Maintenance
• Brownfields Valuation
• Capital Expenditure
• Capital Expenditure Budget
• Capital Replacement Value
• Capital Upgrade
• Capital Works Evaluation Framework
• Capital Works Management System
• Collective Asset
• Community Service Level
• Component
• Component Checklist
• Composite Asset
• Condition Assessment Manual
• Condition Assessment Systems
• Condition Assessment Techniques
• Condition Based Maintenance
• Condition-Based Depreciation
• Consequences of Asset Failure
• Contributed Asset
• Core Asset Management
• Core Asset Management Plan
• Corrective Maintenance
• Cost of Failure
• Creation/Acquisition Plan
• Critical Asset
• Criticality
• Cultural Asset
• Current Asset
• Current Level of Service
• Current Replacement Cost
• Cyclical Maintenance
• Defect
• Degradation Curve
• Demand Forecast
• Demand Management Forecast
• Depreciation
• Deprival Value
• Desktop Revaluation
• Development Manual
• Disposal Plan
• Donated Asset
• Duplicate Asset
• Economic Life
• Environmental Asset
• Essential Public Asset
• Example Renewal Program
• Expansion Expenditure
• Facility
• Failure of an Asset
• Fair Value
• Financial Capitalisation Threshold
• Fixed Asset
• Fixed Asset Register
• Fleet Management System
• Flood Mitigation Asset
• Found Asset
• Funding Gap
• Ghost Asset
• Gifted Asset
• Glossary of Asset Management Terms
• Good Asset Management Practice
• Gravel Resheeting
• Green Asset
• Greenfields Valuation
• Guidelines for Developing an Asset Management Policy, Strategy and Plan
• Heritage Asset
• Infrastructure Asset
• Infrastructure Asset Classes and Sub-Classes
• Infrastructure Asset Management
• Infrastructure Funding Gap
• Infrastructure Gap
• Infrastructure Planning
• Inspection Sheet
• Intangible Asset
• Integrated Asset Management System
• International Infrastructure Management Manual
• Intervention Level
• ISO 55000
• ISO 55010
• Level of Service
• LG Asset Program
• Lifecycle
• Lifecycle Cost
• Lifecycle Cost Analysis
• Liquid Asset
• Long Term Council Community Plan
• Long-Term Asset Management Plan
• Long-term Financial Forecast
• Maintenance
• Maintenance History
• Maintenance Management
• Maintenance Plan
• Maintenance Planning
• Maintenance Program
• Maintenance Regime
• Maintenance Service Level
• Maintenance Strategy
• Minimum Requirements for Asset Management Plans (Queensland)
• Modern Equivalent Asset
• NAMS.AU
• NAMS.Plus
• National Asset Management Assessment Framework
• National Sustainability Framework for Financial Planning & Reporting & Asset Planning & Management
• Nessie Curve Analysis
• Network Asset
• New
• Non-asset Service Delivery Solution
• Non-Current Asset
• Non-Current Asset Policies for the Queensland Public Sector
• North East Asset Management Group
• Northern Councils Asset Management Forum
• Obsolescence
• Operation
• Operational Service Level
• Optimum Life Cycle Cost
• PAS 55
• Passive Asset
• Pattern of Consumption
• Periodic Maintenance
• Physical Asset Lifecycle Modeling
• Planned Maintenance
• Predictive Maintenance
• Preventive Maintenance
• Principles of Asset Management
• Proactive Maintenance
• Queensland Annual Return on the Status of Asset Management
• Ratepayer Asset Condition Satisfaction Survey
• Reactive Maintenance
• Reasons for Asset Ownership
• Redundancy
• Refurbishment
• Rehabilitation
• Reliability Centred Maintenance
• Remaining Useful Life
• Renew Before New
• Renewal
• Renewal Demand
• Renewal Expenditure
• Renewal Funding Gap
• Renewal Planning
• Renewal Program
• Renewal Service Level
• Renewal/Replacement Plan
• Replacement
• Replacement Cost
• Residual Value
• RFID Tag
• Risk in Asset Management
• Road and Bridge Asset Management Kit
• Road Asset Management System
• Road Management Plan
• Road Register
• Road Segment
• Routine Maintenance
• Routine Maintenance Plan
• RUL
• Scheduled Maintenance
• Service Capacity
• Service Level Costing
• Service Potential
• Soft Asset
• South East Metro Councils Asset Management Group
• State of the Assets Report
• STEP Asset Management Program
• Strategic Asset Management Plan
• Strategic Planning
• Strategic Service Level
• Target Level of Service
• Technical Service Level
• Terotechnology
• The Case for Infrastructure Asset Management
• Total Asset Management Manual
• Total Management Plan
• Underground Asset
• Unplanned Maintenance
• Upgrade
• Useful Life
• Valuation
• Victorian LG Asset Management Landscape
• Video Condition Assessment
• Visual Condition Inspection
• Web-Based Asset Management Plan
• Wide Bay Burnett Asset Management Group
• Written Down Replacement Cost