5. Asset Management System and Improvement Actions

Council’s Asset Management Policy states that Council will take a systematic approach to managing its assets, aligned with the principles of ISO 55000 (international standard for asset management systems) and that it will establish an Asset Management Steering Group to monitor implementation of its asset management system, lead continuous improvement programs and report on progress.

The Terms of Reference for the Asset Management Steering Group are included in Appendix 1.

Actions to improve Council’s asset management capability are in Appendix 2. Council intends to assess its capability against a formal benchmark (such as ISO 55001) in future, but it does not consider that this is warranted for this revision of this SAMP (there are some basic actions to address that will take sufficient time and resources over the next year on its own).

The Steering Group will monitor and report on progress with improvement actions (as per the Terms of Reference), but some actions may also be included in future Operational Plans.

Federation Council - Federation Council Strategic Asset Management Plan 2022-2032 15/11/2022 12:26 PM Reference: 22/43143 Version No: 1.0 Page 26