Elements and Performance Criteria
- Develop strategies for systematic maintenance, repair and purchase of physical assets
- Develop strategies for managing physical assets that reflect overall enterprise business and marketing objectives.
- Evaluate current and potential financial objectives and constraints in developing asset management strategies.
- Integrate all occupational health and safety requirements into physical asset management.
- Develop and maintain an accurate and current physical assets register as part of the asset management strategy.
- Incorporate maintenance and repair regimes, which minimise disruption and loss of revenue and which involve appropriate specialists.
- Integrate the need for environmental sustainability into physical asset management practices.
- Monitor the condition and performance of physical assets in the workplace
- Establish and implement systems to ensure that the condition and performance of physical assets are regularly reported and discussed within the enterprise.
- Establish and implement systems to identify timely replacement of physical assets.
- Make assessments of physical asset performance based on safety, operational efficiency and customer service quality.
- Identify problems promptly and take appropriate action.
- Identify the need for and access specialist assistance when required.
- Co-ordinate financing of physical assets
- Prepare accurate work or equipment specifications to guide the acquisition process.
- Estimate acquisition costs based on evaluation of current, accurate and relevant data, including supplier quotations and estimates.
- Make appropriate decisions on the acquisition of physical assets in accordance with enterprise policies and procedures.
- Select methods of financing to meet enterprise current financial objectives based on an analysis of internal and external
- Implement the financing process in consultation with key stakeholders and appropriate financial specialists.
- Make and keep accurate records of all financial agreements and related documents.