City of Stirling Parks and Open Space Asset Managment Plan

Consequence

Insignificant

Minor

Moderate

Major

Catastrophic

Almost certain

Extreme/ exceptional

Extreme/ exceptional Extreme/ exceptional

Medium

High

High

Likely

Medium

Medium

High

High

Likelihood

Possible

Low

Medium

Medium

High

High

Unlikely

Low

Low

Medium

Medium

High

Rare

Very low

Low

Low

Medium

Medium

Table 6.3 Risk assessment matrix – level of risk

6.4 Service and risk trade-offs The decisions made in adopting this PAMP are based on the objective of achieving the optimum benefits from the available resources. 6.4.1 What we cannot do There are some operations and maintenance activities and capital projects that are unable to be undertaken within the next 10 years. These include: • Meeting replacement needs for fencing and barriers due to limited funding • Creating new park assets that are unplanned, not aligned with the City’s objectives and not accompanied by a business case which has a lifecycle management approach • Over-servicing of existing park assets. There are some operations and maintenance activities and capital projects that are unable to be undertaken within the next 10 years. In this AMP, approximately $7 million is

6.4.3 Risk trade-off The operations and maintenance activities and capital projects that cannot be undertaken may maintain or create risk consequences. These include: • Increased expenses of renewal/ upgrade building projects due to delays caused by the practice of deferring maintenance activities • Non-compliance with legislative requirements • Park asset failures occurring. These actions and expenditures are considered in the projected expenditures and, where developed, are included in the risk management plan.

allocated annually for renewal and upgrades. As funding is

limited, the City prioritises renewal and upgrade projects using factors such as hierarchy, risk and community cost benefit. As such, not all projects can be considered as a priority for the same given year and new capital projects cannot be funded by reducing the capital renewal and upgrade budget. 6.4.2 Service trade-off Operations and maintenance activities and capital projects that cannot be undertaken will maintain or create service consequences for users. These include: • Community dissatisfaction • End user dissatisfaction • Reduced level of service • Reduced usage of parks amenities.

Parks Asset Management Plan 2018 – 2028 | 47