Asset Management Strategy 2022 - 2026

4. Conformance with collecting data that enables component level asset modelling to produce 20 year financial scenarios.

For the purpose of this AM Strategy, the asset condition and financial datasets utilised in the development of this AM Strategy are as at 30 June 2021.

3.4 Asset Management Maturity

An asset maturity assessment is a useful mechanism to determine where an organisation resides in the development of its asset management capability and identify areas for improvement by evaluating:

• The maturity of its asset management systems and practices, measured in terms of its compliance with industry asset management standards and frameworks;

• The maturity of its systems and practices against its target maturity level; and

• Its path towards achieving its target maturity level.

The results of the recent asset maturity assessment undertaken in 2022 by an external consultant in conjunction with the development of this AM Strategy are shown in Figure 6

The current maturity level is shown by the blue bars The maturity gap to be overcome for Council to achieve asset management competency in each practice element is shown by the yellow bars.