1. Are assets managed within a strategic framework driven by program and service delivery needs and strategies? 2. Do all asset creation, refurbishment and disposal proposals: o identify the service...

1. Are assets managed within a strategic framework driven by program and service delivery needs and strategies?
2. Do all asset creation, refurbishment and disposal proposals:
o identify the service capacity needs?
o assess other options and compare predicted service delivery outcomes with identified service needs?
3. Are performance management of assets and reporting on assets carried out in terms of service delivery potential, service delivery outcomes, continuing service delivery needs and economic viability?
4. Have asset service delivery objectives, outputs and outcomes been explicitly identified? Is the asset strategy based on the needs analysis?
An integrated approach
5. Have non-asset alternatives to asset-based service provision been considered?
6. Have asset strategies been integrated with corporate and business plans? Will they achieve the objectives of these plans?
7. Are asset strategies linked to a budgetary process that integrates capital and recurrent resource allocation?
8. Are all costs, liabilities and risks incorporated in forward asset planning and budget estimates?
9. Are full costs as well as service delivery outcomes monitored and reported on as part of the regular reporting cycle?
Informed decision-making
10. Are capital expenditure decisions based on rigorous and fully documented economic appraisals that take into account the full life cycle costs, benefits and risks of the asset, and financial as well as non-financial parameters? Are proposals reviewed by a party other than the originator of the proposal?
11. Does the agency maintain an effective asset register that provides an accurate record and valuation of assets?
12. Is the performance of assets regularly reviewed?
Clear accountability and responsibility
13. Have responsibility and accountability for both ownership and control of assets been determined and communicated?
14. Are asset management responsibilities reflected in the performance agreements of the Chief Executive Officer, and in service agreements established between the Chief Executive Officer and service agencies in the portfolio?
15. Have staff been informed about their responsibilities for asset planning, pricing, recording, valuation and
reporting, acquisition, management in use and disposal?
Victorian Government policies
16. Are the agency’s asset management policies and practices in keeping with the Asset Management Series and with best practice in government and industry?