City of Stirling Corporate Business Plan

Asset Management Framework Many of the services the City delivers to its community are reliant on its infrastructure assets and it is imperative that the City manages the full life cycle of these assets in the most cost-effective manner. As a result, the provision and maintenance of infrastructure assets and associated services is at the heart of the City’s long-term commitment to its community. Infrastructure assets such as roads, stormwater drainage, buildings, parks and pathways present particular challenges as they have long lives and high values. Long-term financial forecasts are significant and require planning for peaks and troughs in expenditure to ensure the City has the available funds to renew and replace such assets. The demand for new and improved services from these existing assets adds to the complexity of planning and financial forecasting. The creation of new assets also presents challenges in terms of the additional funding required for the

The City’s Asset Management Policy demonstrates its commitment to aligning asset management with the International Standard ISO 55000. The City’s Asset Management Strategy is a ‘higher level’ enabling document (with a detailed four-year implementation plan) that underpins the Asset Management Policy. The City has developed Transport, Drainage, Buildings and Parks and Open Space Asset Management Plans that outline the asset activities and programs for each service area and resources applied to provide a defined level of service in the most cost- effective manner. The City’s Asset Management Framework is reviewed in conjunction with the Strategic Community Plan and Corporate Business Plan. In summary, the integrated planning mechanism adopted by the City links all its service delivery options to the Strategic Community Plan’s vision and objectives and the Corporate Business Plan.

ongoing operating and replacement costs necessary to provide the required level of service over the assets’ full lifecycle. The goal of the City’s Asset Management Framework is to address these challenges and provide an appropriate level of service for present and future customers through the development of skills, governance, processes, systems, data, productive use of resources, and the management of assets in the most cost-effective manner. The City’s Asset Management Framework has been prepared under the guidance of the ISO 55000 International Standards for Asset Management, the City’s Strategic Community Plan and the Corporate Business Plan. As a result, the framework is well aligned to deliver the City’s vision, objectives and strategies in providing cost-effective, transparent, quality and affordable service levels in accordance with community expectations.

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