Asset management plans*

Assetic is an Australian company providing asset investment and management products, implementation, training, support and maintenance services to Local Government and other major organisations.

Due to a significant overhaul of Asset Management Planning in Local Government, Asset Management(AM) Plans require a clear link between service levels and funding needs, i.e. Strategic Asset Management. Legislations are clearly heading towards long-term planning include the National Framework (Service Centric); NSW: DLG Integrated Planning and Fair Value; VIC, QLD and TAS: State-based Asset Planning Requirements and Fair Value; VIC: DPCD Reporting; WA: Fair Value, Integrated Planning, WAAMI and DLG Framework; SA: Mandated Asset Management Plans and Fair Value.

AM Plans must be based on the National Framework. This means long-term predictive analysis of demand, condition, capacity and functionality of assets, asset componentization and development of consumption patterns (asset performance) are required.

Assetic’s core modules ‘myValuer’ and “myPredictor’ have the combined functionality to deliver strategic outcomes. SAM is a Fair-Value accounting and prediction modeling tool that is designed to cater for long-term planning of infrastructure assets. It has been developed, tested and customised for the needs of Local Government including algorithms, consumption patterns, degradation profiles and reporting structures. All outputs are generated and exported to insert into Council’s AM plans, AM strategies, Operational Plans and AAS116 Fair Value reporting by Financial Class.

Assetic’s solutions are now also tailored to council size. This includes hosted, stand-alone or bureau services and covers all aspects such as data capture, valuations and asset planning which smaller councils cannot sustain internally.

*Copy supplied by Assetic

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