Asset management is the systematic and coordinated activities and practices of an organisation to optimally and sustainably deliver its objectives through the cost-effective lifecycle management of assets[1].
Asset management maturity is the extent the maturity of the organisation’s asset management practices are able to meet the current and future needs of the organisation and is a lead indicator of future performance.
This element is important because it reveals the extent of the difference (if any) between current and target levels of asset management maturity in each agency. It also identifies improvement actions that can lift performance to the target level.
For the purposes of ICR, the Treasury has appointed a panel of independent suppliers to provide asset management maturity assessments across all investment-intensive agencies.
The methodology file is available for download in MS Excel format only: asset-mgmt-maturity-jul17.xlsx (570 KB)
Note
- [1] Asset Management definition from the International Infrastructure Management Manual (2015).