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Strategic and Operational Management of Assets by Public Sector Entities

Strategic and Operational Management of Assets by Public Sector Entities

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Published by Hario Akhmad Rifai

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Published by: Hario Akhmad Rifai on Jun 21, 2011
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Better Practice Guide on the Strategicand Operational Management of Assets by Public Sector Entities
Delivering agreed outcomes throughan efcient and optimal asset base
Better Practice Guide September 2010
2Better Practice Guide on the Strategic and Operational Management of Assets by Public Sector Entities
ISBN No. 0 642 81076 1© Commonwealth of Australia 2010
Copyright Information
This work is copyright. Apart from any use as permitted under the
Copyright Act 1968 
, no part may be reproduced by any process without priorwritten permission from the Commonwealth.Requests and inquiries concerning reproduction and rights should be addressed to the Commonwealth Copyright Administration, Attorney‑General’sDepartment,3‑5 National Circuit, Barton ACT 2600 http://www.ag.gov.au/ccaQuestions or comments on the Guide may be referred to the ANAO at the address below.The Publications Manager Australian National Audit OfceGPO Box 707Canberra ACT 2601Email: webmaster@anao.gov.auWebsite: http://www.anao.gov.au
This Better Practice Guide is not a recommendation of the SAP system, nor an endorsement of the SAP system by the ANAO. Australian Governmentagencies are responsible for deciding whether SAP is suitable for their purposes and for implementing and testing SAP.The Auditor‑General, the ANAO, its ofcers and employees are not liable, without limitation for any consequences incurred, or any loss or damagesuffered by an agency or by any other person as a result of their reliance on the information contained in this Better Practice Guide or resulting fromtheir implementation or use of the SAP system, and to the maximum extent permitted by law, exclude all liability (including negligence) in respect ofthe Better Practice Guide or its use.
3Part 1 – Introduction and Context
 Asset management is an essential component of good governance in both the public and private sectors, andshould be aligned to, and integrated with, an entity’s strategic, corporate and nancial planning.For entities which manage large asset holdings, a well‑structured, practical asset management framework canassist in providing clarity for stakeholders as to the linkages between asset levels and the outcomes expectedof the entity, and thus aid decisions on asset management. Entities with smaller asset holdings will also benetfrom understanding how they can better align these resources with expected outcomes. The main message isto ensure entities have a disciplined approach to match their investment in assets to program requirements,and to plan for asset replacement in a strategic way which accords with the Government’s capital budgetingframework where applicable.Since the previous version of this Guide was published in 1996, there has been an increasing focus on balancesheet management in the public sector, and in particular on how entities deliver strategic goals and agreedoutcomes from their allocated nancial resources. An efcient and optimal asset base is, for most entities, anintegral component of their accrual‑based nancial framework. The use of assets can have a considerable costattached, and it is important therefore, that they are managed both efciently and effectively.While the practices described in this publication provide general guidance to entities, it is important that eachentity assesses the extent to which the information provided is relevant, appropriate and cost effective in lightof its individual circumstances and resource availability. The ANAO would welcome any feedback on this Guideto inform future revisions.Ian McPhee Auditor‑General September 2010

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