City of Stirling Buildings Asset Managment Plan 2018 - 2028

2.2 Goals and objectives of asset ownership The City of Stirling exists to provide services to its community and some of these services are provided by building assets. The City has acquired its portfolio of building assets over many years by the following methods:

• Managing the impact of growth through demand management and infrastructure investment • Taking a lifecycle approach to developing cost-effective management strategies for the long-term that meet the defined level of service • Identifying, assessing and appropriately controlling risks • Linking to a long-term financial plan which identifies required, affordable expenditure and how it will be financed. 2 Key elements of the planning framework are: • Levels of service – how the services and levels of service are to be provided • Future demand – how this will impact on future service delivery and how this is to be met

• Lifecycle management – how to manage its existing and future assets to provide defined levels of service • Financial plan – what funds are required to provide the defined services • Asset management practices – how we manage provision of the services • Monitoring – how the plan will be monitored to ensure objectives are met • Asset management improvement plan – how we increase asset management maturity. Other references to the benefits, fundamentals principles and objectives of asset management are:

• Construction undertaken either directly by City field staff or by contractors on behalf of the City • Donation of assets constructed by developers and others to meet increased levels of service, which after a defect liability period, have been handed over to the City for maintenance for their entire lifecycle. Our goal in managing infrastructure assets is to meet the defined level of service (as amended from time to time) in the most cost-effective manner for present and future consumers. The key elements of infrastructure asset management are: • Providing a defined level of service and monitoring performance

• International Infrastructure Management Manual 2015 3 • ISO 55000 4

2.3 Core and advanced asset management This asset management plan is

Future revisions of this asset management plan will move towards advanced asset management using a ‘bottom up’ approach. This new approach will be used for gathering asset functionality and capacity information for individual assets to support the optimisation of activities and programs to meet agreed service levels.

Core asset management is a ‘top down’ approach where

prepared, as a minimum, as a ‘core’ asset management plan over a 20- year planning period in accordance with the International Infrastructure Management Manual 5 . It is prepared to meet minimum legislative and user requirements for sustainable service delivery and long-term financial planning and reporting.

analysis is applied at the system or portfolio level. However, this Asset Management Plan has reached an intermediate level of maturity as it has been prepared using advanced condition data collected at the individual asset and component level and integrates with the City’s long- term financial and strategic plans.

2 Based on IPWEA 2015 IIMM, Sec 1.3, p 1 | 8 3 Based on IPWEA 2015 IIMM, Sec 2.1.3, p 2 | 13 4 ISO 55000 Overview, principles and terminology 5 IPWEA, 2015, IIMM.

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