A modern slant on asset management

Article image - A modern slant on asset management City of Nedlands uses predictive modelling to anticipate future asset management requirements.

Thanks to an ongoing focus on asset management, the City of Nedlands, Western Australia, is making strides in developing its forward works programs using evidence-based data and whole-of-life costings.

With an infrastructure portfolio value just shy of half a billion dollars, asset management is a key tool in understanding the quality of its infrastructure.

The City uses this information for improved decision-making to achieve the best outcomes for these assets.

An intensive asset capture program has led to a comprehensive database across 12 asset classes, where condition inspections are combined with deterioration modelling to forecast the state of assets over time.

The footpath network is the first asset class to have an Asset Management Plan capable of predictive modelling where different expenditure scenarios can be easily modelled and the long-term state of the asset can be determined.

This is now being rolled out across the other asset classes and will be an integral tool for assisting long-term financial planning.

The benefits of the asset management program extend far beyond the public works program.

This database now enables staff from across the organisation to find assets that may impact on a future project – for example, the location of drainage assets for road design and the placement of street trees have already been used in community planning and strategy development.

Chief Executive Officer, Mark Goodlet, said the City’s investment in asset management had made a significant impact across the board.

“The City prides itself on maintaining its street appeal and ensuring a high standard of maintenance is undertaken across all City-owned infrastructure.

“The asset database has enabled us to effectively track this well into the future.”