Asset Management Advisory

The Victorian government is rolling out the Asset Management Accountability Framework (AMAF) to all departments and agencies. This translates the ISO 55000 asset management standard into treasury policy and is enshrined in state law. Coliban Water wanted to introduce an asset management system (AMS) that complied with the AMAF and turned to Innovative Thinking (IT) to develop the system design. The project provided a framework for the agency to introduce asset management and the processes, systems and skills uplifts that were required to manage assets from design to disposal. Innovative Thinking (IT) conducted a maturity analysis and identified the changes that would be required.

This program design included:

Maturity analysis

  • Development and alignment of goals and objectives

  • Policy and strategy development

  • Asset management classes and plan development

AMS development

  • Risk management processes

  • Stakeholder management

  • Process design and integration

  • Managed outsource providers

  • Asset audit strategy

  • Service planning

  • Performance culture

  • Continuous improvement and knowledge auditing

Information management

  • Data specification

  • Report definition

Innovative Thinking (IT) provided an asset management implementation plan (AMIP) that detailed the steps to compliance with the AMAF.