City of Stirling Transport Asset Managment Plan

8.3 Information flow requirements The key information flows into this TAMP are: • The asset register data on dimensions, age, value, remaining life of the assets, • The unit rates for categories of work/material, affecting future demand for services, • Correlations between maintenance and renewal, including decay models, and • Data on new assets acquired by council. • The adopted service levels, • Projections of various factors 8.4 Standards and guidelines The City has an Asset Management Policy which prescribes how asset management is to be utilised to achieve its strategic outcomes. These strategic outcomes have been defined in its Strategic Community Plan. The principal purpose of the Asset Management Policy is to guide the City in the efficient and effective management of the City’s assets. The Asset Management Policy states the City’s commitment with the International Standard for managing assets, ISO 55000:2014 Asset Management – Overview, Principles and Terminology.

The key information flows from this TAMP are: • The forecasted Capital Works Program for asset renewal and trends • The financial performance indicators • Asset Management Improvement Program. These outputs will impact the Long-Term Financial Plan, Corporate Business Plan, annual budget and departmental business plans and budgets.

A key benefit of implementing this TAMP is the resultant ability for the City to align its resources and needs against a key set of actions to implement asset management planning techniques that can be monitored for their performance and cost effectiveness.

In addition, the City has developed an Asset Management Strategy. The objective of the Asset Management Strategy is to develop a structured set of strategies aimed at enabling the City to improve its asset management practices in line with City’s Corporate Business Plan and Asset Management Policy. Combined with the subsequent asset management plans for each asset class, these documents will provide the City with a comprehensive framework to assist both short and long-term service delivery planning.

Transport Asset Management Plan 2018 – 2028 | 65