2009 Corporate total asset management plan
Darwin City Council
City of Darwin reports; Reports; PublicationNT
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Darwin(N.T.) -- Council -- Periodicals
Darwin City Council
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36 Corporate Asset Management Plan CCoorrppoorraattee AAsssseett MMaannaaggeemmeenntt PPllaann Figure 8 Life Cycle Management of Assets The Lifecycle costs of a typical asset can be demonstrated by the figure below. An asset is created/acquired to provide an identified service, which then is operated and has routine maintenance undertaken. Over the life of the asset there will become a point where the asset is no longer performing at a satisfactory level and may be rehabilitated or augmented. This can be repeated several times, however, there will become a point where the asset will be disposed and potentially replaced. Figure 9 Life Cycle Costs 5.2 Lifecycle Financial Planning The long term impact of the various capital projects and strategies can be significant. If the whole of life costs for new capital projects are not considered this can lead to maintenance and operations in subsequent years being under funded, which in turn can lead increased rehabilitation costs. Darwin City Council does have an evolving practise of identifying the whole of life costs to accompany all Council reports recommending new capital works. However the whole of life identification process is somewhat ad-hoc for the various projects and is recommended that specific templates be developed to standardise the way this cost is calculated.
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