Elements and Performance Criteria
- Develop strategies for systematic maintenance, repair and purchase of physical assets.
- Develop strategies for managing physical assets that reflect overall business and marketing objectives of the organisation.
- Evaluate current and potential financial objectives and constraints in developing asset management strategies.
- Integrate all OHS requirements into physical asset management.
- Develop and maintain an accurate and current physical assets register as part of the asset management strategy.
- Incorporate maintenance and repair regimes that minimise disruption and loss of revenue and involve appropriate specialists.
- Integrate practices to support environmental sustainability into physical asset management practices.
- Monitor the condition and performance of physical assets in the workplace.
- Establish and implement systems to ensure that the condition and performance of physical assets are regularly reported and discussed within the organisation.
- Establish and implement systems to identify timely replacement of physical assets.
- Make assessments of physical asset performance based on safety, operational efficiency, customer service quality and input from colleagues.
- Identify physical asset problems promptly and take appropriate action.
- Evaluate need for and access specialist assistance when required.
- Coordinate financing of physical assets.
- Prepare accurate work or equipment specifications to guide the acquisition process.
- Estimate acquisition costs based on evaluation of current, accurate and relevant data, including supplier quotations and estimates.
- Make appropriate decisions on the acquisition of physical assets according to organisation policies and procedures.
- Select methods of financing to meet current organisation financial objectives based on an analysis of internal and external factors.
- Implement the financing process in consultation with key stakeholders and appropriate financial specialists.
- Make and keep accurate records of all financial agreements and related documents.