G7AssetManagement solves each client’s issues by providing a comprehensive approach backed by our team of experienced professionals. Our process fosters collaboration and innovation to ensure we not only understand the core needs of clients, but also help them develop successfully. Read our success stories below.
Case Study 4.7.2a: Asset Information Maturity Improvement Plan
The benefits of asset management described in this Manual and in ISO 55000 require reliable and accessible data and analysis reports. This analysis and reporting is presented in in the Strategic Asset Management Plan and detailed asset management class plans to achieve value for money service delivery while managing risk within the risk tolerance.
The City of Canada Bay completed an information management maturity assessment in 2020. ISO55000, 55001 and IIMM have been used to provide a checklist of 314 asset information management criteria that cover software, data inputs, report outputs, governance and business process integrated to 11 asset management practice areas for operational and strategic asset management.
Figure 2 shows the results of the Information Maturity for each AM Practice Area.
A Risk score is based on the the results of the Information Maturity for each AM Practice Area and also assessed based on the risk associated with the current level of maturity.
The output was a data, systems and process improvement plan within an overarching knowledge management strategy. The knowledge management strategy will now guide data and report improvement and aligns the ICT strategy, Asset Management Strategy and Smart City Plan. The SAMP and Asset Management Plans provide the success indicators for information management maturity. Core maturity is where these plans can be easily updated with reliable information for both operational and strategic asset management.
Results show integration between data, software, business process, governance and risk management improvement that guide the improvement plan to achieve core and advanced asset information management goals.
Courtesy of City of Canada Bay and G7AssetManagement
Case Study – Strategic Asset Management City of Blue Mountains
Blue Mountains City Council delivers an extensive range of services and facilities to a population of just over 78,000 residents and millions of visitors a year who come to visit one of Australia’s top tourist destinations. Its annual budget in 2018-2019 was just over $125 million.
Like many councils in NSW, the Blue Mountains City Council faces significant financial challenges in maintaining current levels of services into the future. These challenges are a result of many factors including:
Costs rising faster than the allowable increase in rating revenue
Low levels of growth within the City
Cost shifting from other levels of government
Proving services and facilities across 27 settlements spread over 100kilometres of mountainous terrain which results in service duplication
Managing urban development in a City adjacent to a World Heritage National Park
Being one of the most bushfire prone areas in the State with the 2019/20 fire season having a major impact on resources
Flooding with major floods following the 2020 bushfires
Covid 19 Pandemic affective revenues and demand for services.
The plain English reporting of service options and service risks for varying levels of funding enables trade off judgements to be made in consultation with the community. The service level options are prepared for each service and service levels are grouped by condition/quality, function, capacity and utilisation with a current and 10 year forecast for each funding-service level balanced scenario. This approach has transformed Councils financial sustainability from a poor and unstainable state in 2013 to a healthy state in 2020 despite the challenges. All financial reporting and scenarios are constantly being reviewed as the fires, floods and pandemic events change what is affordable and necessary. Projected scenarios were developed balancing strategic asset management plans with long term financial plans and reporting on service levels across all services.
Affordable service levels will have ongoing communication and engagement with the community. The current service level reporting will guide future project formulation and gives all services a fair, simple, auditable, and repeatable process to identify and manage current or emerging critical gaps in service levels, risk, knowledge, or workforce.
The system also:
acts as a check on resource allocation and project formulation, to ensure that Council’s limited resources are being best allocated to areas of current and emerging need across all services;
guides resource allocation trade-off and enables an understanding of the cumulative impacts of decisions across all services;
provides input to the reporting of residual risks to the Audit Risk and Improvement Committee; and
focuses four and one year action planning for the Council’s Delivery Program and Operational Plan on the resource allocation needs to meet adopted service levels and risk targets.
The Service Health Checks provide an opportunity for Service Managers to, on a regular basis, consider and report on critical questions about the service and its quality, condition, function, capacity, and utilisation. It is also acts as a mechanism to better manage risk and ensure transparency through regular monitoring and reporting. Results also help to inform discussions with community on affordable and acceptable levels of service.
Courtesy of Blue Mountains City Council and Jeff Roorda