Strategic Asset Management focuses on the optimal alignment of assets with the requirements of an organisation to enable maximum return of value.
Organisations deploying principles of best-practice are rapidly embracing concepts such as whole life planning life cycle costing planned and proactive maintenance and alignment of asset management strategies to the long term goals of the organisation. In essence the effective management of assets not only supports an organisations core business but can return significant value to the organisation.
The effective management of assets therefore requires a robust strategic framework which establishes
Criteria and standards for the control and management of assets.
Strategies and processes for asset expansion improvement management and disposal.
Alignment with the long term goals of the organisation.
Interrelationship with the organisations strategic planning process including where possible multiple usage.
An comprehensive performance management framework
ECU Strategic Asset Management Project The Strategic Asset Management Framework (SAMF) shall provide a comprehensive foundation for the effective implementation of asset management with a clear focus on both the short term management of assets and the long term strategic use of assets. The framework aims to support the realisation of the Universitys vision and goals ensuring that assets support the delivery of ECUs core business.
The effective deployment and utilisation of the Strategic Asset Management Framework represents a key factor in the ongoing operation of Edith Cowan University. This document outlines our Strategic Asset Management Framework and aims to convey the goals and principles upon which the University manages its planning deployment and management of assets.
3 Strategic Intent Document Overview Strategic Asset Management Framework The Strategic Asset Management Framework is designed to align with the strategic objectives of the University. This enables both ongoing support of strategy together with greater return on investment. The below diagram demonstrates how the SAMF Framework is driven by the Universitys mission with each element position within the hierarchy to contribute to the success and sustainability of Edith Cowan University. Figure 1 Strategic Asset Management Framework 4 Strategic Intent Document The Guiding Principles The Guiding Principles serve as Edith Cowan Universitys specific asset management and improvement strategic objectives. The following were identified through discussion with key stakeholders in Phase One of this project To Support the ECU Mission and Strategic Goals 1 To Deliver Value for Money through the Assessment and Alignment of the Asset Infrastructure to Service Needs and Priorities 2 To Deliver and Communicate an Efficient Consistent and Transparent Asset Management Process 3 To use Public and Commercial Benchmarks and Best Practices to Inform Decision Making 4 To Maximise Asset Utilisation 5 To Employ Life Cycle Cost Benefit Analyses 6 To Generate and Manage Appropriate Levels of Investment and Funding 7 To Manage the University Assets by Reducing the Negative Impacts upon the Environment 8 To Manage an Effective Asset Retirement Plan 9 To Employ Balanced Performance Measures 10 5 Hierarchy Strategic Intent Document Strategic Asset Plan Implementation Framework Figure 2 Strategic Asset Management Plan Implementation Framework highlighting three major streams. 6 Scope Strategic Intent Document Capital Expansion and Improvement Plan The Capital Expansion and Improvement Planning process refers to the deployment of new capital assets or the overhaul and/or significant change to capital assets. The process addresses a range of key factors that influence both the initial decision to execute a capital project together with the management of these projects. Drivers to this type of activity may include long term service delivery requirements student and staff trends periodic refurbishment life cycle costing and the impact on future budgets strategic plans and the risk of change to service delivery requirements. Descriptions of boxes to left are listed below Planning Managers to undertake regular departmental consultation with Services and Faculties to determine current and future capital requirements based on strategic needs proposed demand and current utilisation. Perform Feasibility Assessment on proposed expansion or improvement projects to build Business Case that justifies need proposed capital expenditure and impact upon strategic delivery. Undertake comprehensive evaluation of proposed new assets to justify inclusion within the overall Strategic Asset Capital Investment Plan. Develop sufficient definition to establish a clear understanding of the project a plan for its implementation and whether the project is ready to proceed into detailed design and documentation. Enter into delivery management if approved. After commissioning has been completed to undertake a review of the projects readiness for service. Once in service to apply established KPIs to efficiency and utilisation. 7 Strategic Intent Document Asset Maintenance Plan Background Asset Maintenance aims is to ensure that assets continue to support the strategic objectives and service delivery requirements. Maintenance itself also ensures that the capital investment in the asset is preserved consistent with its age and market value. Planning should occur at the strategic level as well as at the delivery level to ensure that the maintenance program supports the Universitys strategic direction and service delivery model. Descriptions of boxes to left are listed below Through setting asset condition standards in line with functional purpose and monitoring against these standards provides a justified maintenance demand throughout the asset portfolio. This maintenance demand can then be costed and issued for funding approval. To prioritise the maintenance activities that require action in line with both the Strategic Maintenance Plan and allocated Maintenance budget. To assess the current maintenance backlog and update if necessary depending upon budget allocation and service need and review in terms of effect upon service delivery. The process of entering into appropriate arrangements with both internal University maintenance staff and outsourced maintenance service providers for the provision of maintenance services in accordance with prioritised and strategic need. To monitor and review maintenance performance in accordance with the provisions of the Strategic Maintenance Plan. This includes the review of Program Management Service Provision and Maintenance Outcomes. 8 Strategic Intent Document Asset Retirement Plan The fundamental aim of effective asset retirement is the redistribution of value to support the development or management of other University assets or activities. Effective asset retirement focuses on ensuring that underperforming or surplus to requirements assets are clearly identified in a timely manner. Further a range of alternatives are then considered with respect to their ongoing management and/or disposal. Retirement of assets in accordance with a clearly outlined plan ensures the removal of potential maintenance and financial inefficiencies whilst reinvestment may in turn provide substantial benefit to the University its customers and stakeholders.Descriptions of boxes to left are listed below To identify assets as surplus to known and expected service delivery requirements that are based upon the criteria of demand functionality physical condition and financial performance . The process of authorising an asset to be retired based on the review of balanced performance measures financial implications and strategic requirements of the University To define the preferred retirement program determine timescales and confirmation of the desired outcome. To determine the financial responsibilities of the retirement process and focus revenue within strategic plans for enhanced service delivery To monitor and review retirement performance in accordance with the provisions of the Strategic Disposal Plan. This includes the review of Program Management Service Provision and the performance review of external contractors. 9 Strategic Intent Document Summary and Tools
The Strategic Asset Management Framework provides a comprehensive foundation for the effective implementation of asset management activity
Clear focus on both the short term management of assets and the long term strategic use of assets.
The Framework aims to support the realisation of the Universitys vision and goals ensuring that assets effectively support the delivery of our core business.
A range of processes policies and templates have been developed to support the effective implementation of the Framework (see right).
These tools provide a clear outline as to how the Framework is designed to operate whereby the intention is comprehensive planning leads to more effective management processes.
Any questions or feedback with respect to this document or the Strategic Asset Management Framework please contact the following individuals.
The Strategic Asset Management FrameworkPeter Vincent (x2303)
Capital Expansion and ImprovementRon Hewitt (x2275)
PowerShow.com is a leading presentation/slideshow sharing website. Whether your application is business, how-to, education, medicine, school, church, sales, marketing, online training or just for fun, PowerShow.com is a great resource. And, best of all, most of its cool features are free and easy to use.
You can use PowerShow.com to find and download example online PowerPoint ppt presentations on just about any topic you can imagine so you can learn how to improve your own slides and presentations for free. Or use it to find and download high-quality how-to PowerPoint ppt presentations with illustrated or animated slides that will teach you how to do something new, also for free. Or use it to upload your own PowerPoint slides so you can share them with your teachers, class, students, bosses, employees, customers, potential investors or the world. Or use it to create really cool photo slideshows - with 2D and 3D transitions, animation, and your choice of music - that you can share with your Facebook friends or Google+ circles. That's all free as well!
For a small fee you can get the industry's best online privacy or publicly promote your presentations and slide shows with top rankings. But aside from that it's free. We'll even convert your presentations and slide shows into the universal Flash format with all their original multimedia glory, including animation, 2D and 3D transition effects, embedded music or other audio, or even video embedded in slides. All for free. Most of the presentations and slideshows on PowerShow.com are free to view, many are even free to download. (You can choose whether to allow people to download your original PowerPoint presentations and photo slideshows for a fee or free or not at all.) Check out PowerShow.com today - for FREE. There is truly something for everyone!