Territory Stories

2009 Corporate total asset management plan

Details:

Title

2009 Corporate total asset management plan

Other title

Darwin City Council

Collection

City of Darwin reports; Reports; PublicationNT

Date

2009

Description

Made available via the Publications (Legal Deposit) Act 2004 (NT).

Notes

Date:2009

Language

English

Subject

Darwin(N.T.) -- Council -- Periodicals

Publisher name

Darwin City Council

Place of publication

Darwin

Copyright owner

Check within Publication or with content Publisher.

Parent handle

https://hdl.handle.net/10070/240707

Citation address

https://hdl.handle.net/10070/621982

Page content

34 Corporate Asset Management Plan CCoorrppoorraattee AAsssseett MMaannaaggeemmeenntt PPllaann 4.3 Advanced Asset Management As Council moves from the Basic Asset Management Model to the Advanced Model as discussed in Section 1.1.2, more sophisticated and formal risk management and assessment will be carried out for critical assets using the fundamentals of Australian Standard for Risk Management, AS/NZS 4360:2004 or the draft International Standard ISO/DIS 31000. When identifying risks the following issues will be considered: Risks that may prevent, degrade or delay service delivery, can include: Structural Capacity / utilisation Levels of service failures Obsolescence Cost to maintain & operate Inclusion of risks in infrastructure service provision that are not under the control of Council Grouping of risks by natural events; external impacts; physical failure or operational issues Paying particular attention to critical assets with a high consequence of failure rather than just the probability of failure or grouping assets by criticality for identification e.g. road hierarchy The consequences of asset failure can include increased repair costs; loss of income; loss of service; loss of life / injury; health impacts; damage to property; failure to meet statutory requirements; third party losses; or loss of image. Risk treatment strategies that will or have been developed to avoid or react to expected failure will include risk reduction by expenditure on assets; preparation of emergency response plans; acceptance of some risks; insurance against losses or a combination of the above.


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