Asset Management Advisory
When Vic Track decided to refresh the asset management practices in its telco business, it turned to Innovative Thinking (IT) to conduct the analysis and develop the improvement roadmap.
Vic Track owns Victoria’s transport land, assets and infrastructure – and works to protect and grow the value of the portfolio to support a thriving transport system, and make travel and living better for Victorians. Its telco business provides telecommunications services using surplus railway network capacity in addition to supporting the train and tram communications networks. The telecommunications department required an uplift in its asset management capability and asked Innovative Thinking (IT) to develop a strategic asset management plan.
Our consultants reviewed the existing practices, systems and methods of asset management in the telecommunications group and identified the strategy to refresh both over a three-year period. Our approach included the following:
Fit/gap analysis of existing systems and processes
Organisational and functional alignment to enable the AMS
Alignment of the telecommunication’s groups business objectives to Vic Track corporate
Review or organisational context and stakeholders
Review of documentation requirements
Development of the scope of the AMS
Development of the AMS roadmap
Definition of roles and responsibilities
Development of the communications plan
Developing the asset classes
Developing the asset management plans
Analysis of AMS integration requirements
Risk based decision-making
Monitoring and measurement
Strategic asset management plan development
We provided a strategic asset management plan that contained the system structure, objectives and scope of the AMS and a plan to introduce the system.