Background

Why is asset management important?

Asset Management planning helps us deliver safe and sustainable services in a predictable and cost-effective manner. The Corporate Asset Management Program aims to advance the City’s asset management practices to deliver the expected levels of service while managing risks and using resources wisely. The graphic below highlights the three main components of asset management process which need to be balanced in order to create sustained value for the residents: Levels of Service, Risk and Cost.

illustration of circular relationship between risk, cost and levels of service

The table below illustrates some of the tasks taken to ensure your home is running well and related task the City takes on to ensure the City is well run that form part of the Corporate Asset Management Program.

My Home Well-Run Home	My City Well-Run City
We keep our home safe and in good condition.	City keeps public infrastructure in good working and safe condition.
We do timely maintenance for home roof and equipment to avoid break ups and prolong service life.	City conducts timely inspections and repairs to its assets to deter high replacement costs. For example roads resurfacing every 15 years.
We save money in advance for the major repairs and buying new furniture and equipment.	City evaluates funds needed to maintain and replace assets and reserves money in advance.
When spending money we prioritise important matters. For example, we may prioritize fixing a leaky roof over buying a BBQ.	City prioritizes replacement/refurbishment of assets that pose high risk to the Community and have high impact on people.
We shop around to find appropriate home equipment at reasonable prices. We buy durable and longer lasting equipment.	City ensures that assets procured are cost effective throughout the whole life cycle – from purchase to disposal.
We care about impacts on environment. We are reducing, recycling, and buying energy efficient products to minimise our carbon footprint.	City is serious about impacts on climate change. City is increasing fleet of hybrid and electric buses, planting more trees and maintains trees and parks.
To address climate change impact, we may buy flood protection insurance or install air-conditioning in the house.	City takes steps adapting to climate change risks such as upsizing stormwater pipes and preserving wetlands and forests.
We plan to coordinate repairs to minimize family disruptions and save money.	City strives to coordinate upgrades so disruptions and costs are minimized.

My HomeWell-Run Home

My CityWell-Run City

My Home
Well-Run Home

My City
Well-Run City