Effective management of infrastructure assets and community facilities is central to any organisation providing an acceptable standard of services to the community. Infrastructure impacts on the quality of the living environment and opportunities to prosper. Not only is there a requirement to be effective, but the manner in which the organisation discharges its responsibilities as a public entity is also important. The organisation must demonstrate good governance and customer care, and the processes adopted must be efficient and sustainable. Officials are custodians, on behalf of the public, of infrastructure assets, the replacement value of which amounts to millions of dollars.
Key themes of infrastructure asset management include:
• Long-term sustainability and risk management;
• Service delivery efficiency and improvement;
• Performance monitoring and accountability;
• Community interaction and transparent processes;
• Priority development of minimum basic services for all;
Infrastructure Asset Management, the discipline of managing infrastructure assets, requires the accurate capturing of asset data – for both tangible and intangible assets. Assets are captured in an Asset Register, assessed and a measurable monetary value attached to each. The application of acceptable accounting practice allows for the calculation of values such as current replacement costs, remaining useful life etc. and makes an impact assessment possible in cases where asset performance has been severely compromised.
The IMQS Asset Register system assists the user, to view, capture, and manage a Valuation and Financial Asset Register. Information on revenue and risk management, infrastructure maintenance, incident management and demand forecasting is also provided.
To find out more about how IMQS and its partners can help you contact us.
