In January 2014, a series of new international standards on asset management systems were published. The series, ISO 55000, comprises three standards that promote good practice in asset management and set out a framework for developing an asset management system.
Cardno is a strong supporter of developing asset management capability and was actively involved in the development of the ISO 55000 Asset Management Standard, providing feedback on drafts to both the Institute of Public Works Engineering Australia (IPWEA) and the Asset Management Council.
Cardno is an accredited assessor of the new standards using the Institute of Asset Management’s (IAM’s) methodology and has already undertaken a range of projects relating to the standard, including a recent project in Canberra with the National Capital Authority (NCA) to develop an updated Asset Management Strategy and supporting Asset Management Framework. The NCA performs a special role in Australia as the trustee of the National Capital, and in this capacity serves the interests of the Australian Government, the nation and its people.
The NCA manages a prestigious portfolio of assets valued at over $900 million and seeks to maximise the value to the Nation from these within constrained financial resources. It has identified the need to further enhance its asset management capability to achieve its statutory functions of:
- Protecting the Australian Government’s interest in the planning, development and heritage management of the National Capital.
- Informing and educating all Australians and visitors about the significance and role of Canberra as the National Capital.
- Developing and maintaining the special character of the National Capital estate.
The project involved a number of consultation activities and the preparation of a number of documents including:
- an asset management strategy with an asset management framework and strategic road map of improvement initiatives
- an ISO 55000-based asset management maturity gap analysis
- an Asset Management Plan template
- a demand forecasting framework
- an asset condition, criticality and risk management framework
- a level of service framework and detailed service standards for each major asset category with performance indicators
- a review of current asset register structure and improvement recommendations.
Cardno has had a dedicated asset management team since 1994 and currently has more than 100 staff involved in asset management worldwide. The team has ongoing involvement with utilities and state and local governments, providing strategic asset management, valuation, financial projections, operations and maintenance planning, condition assessment, social planning, regulatory auditing and renewal predictive modelling and forecasting. Our staff are continually called on by regulators and state government agencies to review government programs, and to provide guidelines, templates and training.
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