Asset Management

Direction and guidance for staff managing assets, and supporting planning, management and decision-making for assets.

Changes since previous version

2022 Oct 17 – updated policy statement to include information about requirements for playground equipment. All schools and departmental staff must refer to the Educational Facilities Standards and Guidelines website for all standards and processes relating to school assets.

Document history

2021 Oct 06 - New policy.

  1. Policy statement
    1. Students' learning and wellbeing needs are at the centre of all asset management decision-making.
      1. All staff must identify and manage risk and exposure to injury, liability, climate change dynamics and asset failure through appropriate planning, procedures, risk management, condition and performance assessment.
    2. The department manages an Asset Management Framework that is appropriately resourced and continually improved, and aligned to the international standard ISO 55001.
      1. The framework supports staff to effectively manage all department assets and ensures compliance with the NSW Treasury policy for asset management.
      2. Asset Management System is the department's platform for managing asset data and is an integrated component of the Asset Management Framework, providing all information on building assets and supporting asset management decisions.
    3. Asset management governance encompasses strong leadership, control, direction and accountability. It drives strong stewardship, ensuring that every opportunity is taken to maximise the value of public assets.
      1. Decisions about school infrastructure need to meet the needs of a growing school population and enable future-focused learning and teaching.
      2. The department is committed to having an appropriate level of asset management proficiency to support planning and decision-making throughout the lifecycle of its assets.
      3. Asset management planning considers the whole-of-lifecycle costs, age and maintenance requirements of existing schools to optimise service delivery.
      4. The department continually improves and optimises the delivery of maintenance and renewal programs based on balancing risk, cost and performance elements.
    4. All new buildings and upgrade works must comply with the Australian Standards and Building and Disability Regulations at date of delivery, as well as the requirements set out in the Educational Facilities Standards and Guidelines (EFSG) governed by School Infrastructure NSW and NSW Department of Education.
  2. Audience and applicability
    1. All staff
  3. Context
    1. Asset management is the coordinated activity of an organisation to realise value from assets.
    2. In accordance with NSW Treasury Policy TPP 19-07, the department must have an appropriate Asset Management Framework. The framework must be established and maintained, and align with this policy's requirements, including preparing necessary documents, as well as the relevant international standards (ISO 55001:2014).
    3. This policy is one component of the framework, which also includes a strategic asset management plan, asset management plans and asset management objectives.
    4. The Executive Director, Business Enablement oversees the framework.
    5. Asset management objectives align to the Infrastructure NSW Strategic Plan, Department of Education Strategic Plan and School Infrastructure NSW School Asset Strategic Plan.
  4. Responsibilities and delegations

    All staff have responsibility to provide strong stewardship of department-owned assets, with some staff having specific responsibilities and accountabilities.
    1. Principals:
      1. manage school properties and operations.
    2. Executive Directors with responsibility for department-owned assets:
      1. ensure compliance with the policy and their business area's Asset Management Framework through the annual attestation process to NSW Treasury
      2. lead and monitor asset management activities for their business areas.
    3. Secretary:
      1. responsible and accountable for asset management within the department, attesting to NSW Treasury in relation to the requirements of TPP 19-07 Asset Management policy
      2. approves the department's Asset Management policy and Asset Management framework.
    4. Executive Asset Management Group:
      1. manages the department's Asset Management Framework and associated policy documents
      2. integrates whole-of-lifecycle asset management into all planning and decision-making
      3. leads the implementation of the Asset Management Framework.
    5. All asset and facilities management staff are responsible for ensuring school facilities are compliant with relevant regulatory obligations and maintained against agreed standards.
  5. Monitoring and review
    1. The Executive Director, Business Enablement monitors the implementation of this policy, regularly reviews its contents for relevance and accuracy, and updates it as needed.

6. Contact
School Infrastructure NSW Inquiry Hotline
1300 482 651

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